Housing Commission Minutes
March 14, 2006
Present: George Georges, Avram Kalisky, BJ Scheff and Bryce Wolf
Minutes: The minutes of Jan. 24, Feb. 14 and Feb. 28, 2006 were approved.
Sunnyside Apt: Scheff reported that she had received a letter from Minuteman High
School confirming their intention to construct the accessory apartment this fall.
HOME Funds: Scheff stated that our HOME allocation will be about $490 less than the previous year. She is pursuing ideas to use this small grant without having to become involved in the program s complex reporting requirements. If the funds are not used within two years, we should arrange swap and share procedures with another town.
Housing Trust: Selectmen Gary Taylor, town counsel Kathleen O Donnell, Tim Higgins, Mark Whitehead, and CPC Chairman John Koenig joined the meeting to discuss the
warrant article seeking to establish a municipal affordable housing trust. Higgins noted, confirmed by Koenig, that the CPC is prepared to fund the trust with $750-900,000 for the coming year. Although details are still being worked out, the understanding is that this would allow $150,000 to be spent toward each buy-down, and that the funds would be allocated under the sunset provision which would return the money to the CPC if unspent.
O Donnell explained that this trust is a relatively new concept and arose out of a need for flexibility. The town does not need to go to town meeting to approve each purchase and to expend funds. Funds can be used to build, buy-down, as subsidies, and as seed money. Cambridge has used this approach successfully and has also used some of the funds to pay staff and hire consultants. Specific granting could limit use of CPC funds to approved purposes. She recommended that the town create a formal declaration of trust in addition to town meeting approval to formalize the entity.
Regarding borrowing, she explained that while the trust could borrow on its own, there would be no town exposure, as a lender would be evaluating only a particular project, not the town s revenue stream. The trust, however, cannot be used to circumvent state bidding requirements, prevailing wage laws, etc. Subsidies can be broadly applied, including rents and property-owner grants, such as septic system upgrades. The trust could function as a development partner on proposals involving the Mall or Lincoln Woods, as long as affordable housing restrictions return to the town.
O Donnell will draft a proposed trust and send to Higgins for review. Assuming town meeting approves the adoption of the legislation establishing such trust, the Selectmen are then authorized to draw up a declaration of trust, detailing the scope of its powers and authorities. Higgins will draft a motion for the warrant article.
The meeting adjourned at 8:50 a.m.
The next meetings are Tuesday, March 28 and April 11, 2006 at 7:30 a.m.
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