HomeMy WebLinkAbout2017-04-04 AHT Minutes 0— 6-.//. /7
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North Andover
Affordable Housing Trust
Meeting Minutes
Tuesday,April 4, 2017
Town Hall-First Floor Conference Room
1 Present: L. Burzlaff, R. Bernardin,J. Fitzgibbons,T. Watson, G. Koehler, B. Wolstromer
2 Absent:S. Bernard, D. Lawson,J. Enright
3 Meeting was called to order at 5:00 p.m.
4 Motion on Approval of Minutes from the January 17, 2017 Meeting J. Fitzgibbons motioned to accept the meeting
5 minutes for January 17, 2017 meeting. R. Bernardin seconded the motion. The vote was 5-0, unanimous in favor.
6 Potential Property Updates:
7 J. Fitzgibbons submitted an offer on behalf of the AHT for 56 Marblehead Street in the amount of$350K(no
8 contingencies) except the approval of funds.They received another offer for more money. L. Burzlaff wondered if
9 there was any benefit to vote on the amount if it were to come back yet J. Fitzgibbons thought it would have to be in
10 the amount of$450K.T.Watson wondered if it would require a variance for zoning and mentioned she thought there -
11 was an adequate amount in CPA funds. L. Burzlaff mentioned the AHT has again applied for$100K in CPA funds from
12 the CPC.J. Fitzgibbons agreed to keep searching for properties and opportunities. L. Burzlaff noted typically the AHT
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13 spends approximately$125K per unit. She is looking into the Troy Road property. 70 May Street needs to go through
14 the Zoning Board of Appeals for a variance on May 9, 2017. L. Burzlaff mentioned the possibility of 27 Bradford Street
15 which might allow the potential for several units on one acre of land.
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17 New Projects:
18 L. Burzlaff and S. Egan,Town Counsel are looking into the 40B units in town in order to preserve their affordability by
19 looking into their procurement information. If there is no universal deed rider; unfits could possibly converted over,
20 noting that if they are in foreclosure the Town has first right of refusal with a 30 day notice. L. Burzlaff wondered if the
21 AHT wanted to do something with foreclosures or start a program for first time homebuyers, maintaining the
22 affordability factor.
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24 R. Bernardin-Presentation of the AHT Budget to date:
25 The AHT currently has$808,158,32 in the AHT account.All accounts were balanced and the CPA funds for$100K were
26 received in 2015.T. Watson noted the$100K CPA funds were not reflected for 2016; R. Bernardin noted they may not t
27 be reflected until after the end of the year. L. Burzlaff explained that Community Development receives a letter each l
28 time a "market rate" dwelling unit is sold at Compass Point along with a check for$5K from the developer.T. Watson
29 wondered if the AHT was still paying out broker fees; L. Burzlaff to touch base with B. Curran regarding reimbursement 1
30 amounts and tracking of affordable home sales.
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32 MOTION:T.Watson made a motion to adjourn which was seconded by R. Bernardin. Meeting adjourned at 6:00 p.m.
33 The vote was 5-0, unanimous in favor. Next meeting date, pending any new business,will be scheduled by L. Burzlaff,
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36 MEETING MATERIALS: April 4, 2017 Agenda; DRAFT Meeting minutes January 17, 2017; Affordable Housing Budget
37 Itemized Spreadsheet; First Time Homebuyer/Down Payment Assistance Tracking Sheet.
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