HomeMy WebLinkAbout2018-02-06 Affordable Housing Trust Minutes North Andover Affordable Housing Trust
Meeting Minutes
February 6,2018
Town Hall Conference Room 2
Present: Laurie Burzlaff,George Koehler,Joan Fitzgibbons, Richard Vaillancourt,Stephen Bernard, Robert Bernardin and Jean Enright
Absent: Roger Lawson
Meeting was called to order at 5:30 p.m.
Motion on Approval of Minutes from the October 17,2017 Meeting Motion made by Mr. Koehler,seconded by Mr. Bernardin,to
accept the meeting minutes for October 17, 2017. Vote approved 5-0.
Joan Fitzgibbons arrived.
Update from Treasurer:
Mr. Bernardin provided the Trustees with the most recent reconciliation. The account balance is$417,480.20 but does not include
the mortgage amounts to be paid back by Bread&Roses for 13 Annis Street and 51 May Street.
Update on 13 Annis Street:
The application seminar for 13 Annis Street has been rescheduled for February 14 because of the expected storm on the 7`n
Community Preservation Application:
The Trustees discussed whether to file an application again this year.The Trustees agreed one should be filed for$100,000. Ms.
Burzlaff will submit the application.
Discussion of goals for this year:
Ms. Burzlaff discussed creating an Action Plan which would summarize what we've done,what the needs are and the goals for the
next five years.An example of the Town of Easton Action Plan was given to the Trustees. Ms. Burzlaff spoke with Jen Goldson who
prepared the plan and is also working on the Town's Housing Production Plan with the Merrimack Valley Planning Commission.The
cost to draft the plan can be up to$25,000,depending on how involved it is. Ms. Burzlaff will get more information and the Trustees
will discuss at the next meeting.
The Trustees talked about focusing on senior citizens needs as a goal for the year.A small home repair program was discussed. A
question arose as to how to qualify for such a program. More information is needed on the cost of having a program administrator.
ADJOURNMENT: Robert Bernardin made a motion,seconded by Richard Vaillancourt to adjourn the meeting at 6:40 p.m. Vote
approved 6-0.
Next meeting is scheduled for ApH13,2018 at 5:00 p.m.
MEETING MATERIALS:Agenda; DRAFT Meeting minutes October 17, 2017;reconciliation; Easton Action Plan.
ar
........................................ .......................... .................................
pOWTH
MEETING NOTICE
TOWN OF NORTH ANDOVER
Town Clerk Date Stamp
Board/Committee Name: Affordable Housing Trust
Date: February 6, 2018.
Time of Meeting: 5:30 pm
Location: Town Hall-2nd Floor Conference Room
Signature Laurie (Burz[aff
.............. ........................
AGENDA
I Call to Order
2. Approval of Minutes from October 17, 2017
3. Update from Treasurer
4. Update on 13 Annis Street
5, Community Preservation application
6. Discussion of goals for the year
7. Next meeting date
Note-Per changes to the Open Meeting Law effective 7/1/10:Notices and agendas are to be posted 48 hours in advance of the meeting excluding Saturdays,Sundays
and legal holidays. Please keep in mind the Town Clerk's hours of operation and make necessary arrangements to be sure your posting is made in an adequate amount
of time.*A listing of topics the chair reasonably anticipates will be discussed at the meeting is to be listed on the agenda. Amend as necessary,not to exceed one
page.
North Andover Affordable Housing Trust
Meeting Minutes
October 17,2017
Town Hall Conference Room 2
Present: Laurie Burzlaff,George Koehler, Roger Lawson, Richard Vaillancourt,Stephen Bernard, Robert Bernardin
Absent:Joan Fitzgibbons
Guest:Cathy Hoog, Executive Director, North Andover Housing Authority
Meeting was called to order at 6:00 p.m.
Motion on Approval of Minutes from the September 12,2017 ing Motion made by Mr. "Vail'lancourt, seconded by Mr.
Koehler,to accept the meeting minutes for September 12, 2017 Vete approved 6-0.
Update from Treasurer:
The Town treasurer has not provided reconciliatioe 'Ot.sothis matter was"t j64'aJfitil the next meeting.
North Andover Housing Authority:
Cathy Hoog, Executive Director of the North Andover Housing Authority,presented the Olan for a proposed building at Fountain
Drive. The building would be 3 stories(8400 square feet prfloor)ar ,approximately49 units. The property is currently in the
R4 district which does not allow multifamily dwelling and a 3artments Pap ,Wil,l be an is�soO o number of units may have to
decrease.The current buildings are one storyi and have 6 units' ach. '
r
Update on 70 May Street andL Ma�Street:
Ms. Burzlaff updated the trustees ori the status of 70 May Street ar1F51 May Street. Owners have been selected for both units and
move in should be by Thanksgiving.
Revise criteria fret 13 Anni�
It was expected that the application seminars Would produce enough, buyers that a seminar would not be necessary for 13 Annis
Street. Out of 37 people that attend the seminar,6 submitted applications, 3 had credit issues and one was over income. Ms.
Burzlaff presented information regarding revising the purchase price to$300,000 and revising the income limits to either 100%AMI
or 120%AMI.
MOTION: Robert Bernardin made a motion,seconded by Roger Lawson,to revise the selling price for 13 Annis Street to$300,000
and increase the income limits to 100%Area:Median Income.Vote approved 6-0.
Update on 800 MassachusettAvenue(Mu� um of Printing):
Ms. Burzlaff informed the Trusteos that she met with Stan Limpert, President of the North Andover Historical Society about the
possibility of the Trust renovating the.property at 800 Mass.Ave.for affordable housing for seniors. Mr. Limpert and Ms. Burzlaff
attended the Community Preservation.Committee meeting to bring up the idea and see if CPC was interested in the project.CPC was
open to the idea.Trustees agreed idea is worth pursuing but much more research is needed to see if it is feasible. Ms. Burzlaff
indicated that the Historical Society wants to generate income from the property and has been speaking with a developer who
wants the property for commercial/residential use. Ms. Burzlaff will contact Andrew DeFranza, Executive Director of Harborlight
Community Partners for information on their process.
Discussion of goals for this year:
This matter was tabled to the next meeting.
ADJOURNMENT: Richard Vaillancourt made a motion,seconded by Stephen Bernard to adjourn the meeting at 7:30 p.m. Vote
approved 6-0.
Next meeting date,pending any new business,is scheduled for November 28,2017 at 6:00 p.m.
MEETING MATERIALS:Agenda; DRAFT Meeting minutes September 12, 2017; Draft application seminar flyers for 13 Annis Street.
t
ye
4
Lowell Five-Affordable Housing Trust
Acct#3101 It
i
Bank Statement 12/31/17 $ 417,221.74
Interest Income $ 258.46
Deposit Transfers
$ 3
Outstanding Payments
r
Balance as of 12/31/17 $ 417,480.20
Per General Ledger $ 417,480.20
_ S
i
PP
E
I
v
g9
3
x,
h
rt
A
k
i
II
k
I
e
yk
4
2
i
1
1
3
k
e,
g�
S
�E.
E
1
3
1/23/2018 ff
00 0R0
'Housingi Trust Fund 12/31/2017
date . check#
FItkR1 W�to111 sY7777
a
10/8/2008 Deposit 44,080.00
Edgewood 12/4/2008 CCRC Special Permit 9055 347,163.00
Edgewood 5/11/2009 #9 Amelia Way 10748 3,692.00
Edgewood 7/9/2009 9&11 Amelia,8,12,19,27 Samuel 11342 33,868.00
'I
Edgewood 9/24/2009 Bistro&renovation of living room,social day&staff lounge. 11996 14,130.00
Edgewood 10/6/2009 21 Caroline Way 12126 3,360.00
Edgewood 10/6/2009 36 Samuel Way 12127 3,692.00
Edgewood 10/6/2009 32 Samuel Way 12128 3,692,00
Edgewood 10/6/2009 43 Caroline Way 12123 3,692.00
Edge ood 10/6/2009 41 Caroline Way 12124 3,692.00
Edgewood 10/6/2009 35 Caroline Way 12125 3,360.00
Ankeles,Bonfanti.... 10/26/2009 2 Harvest Dr.m.Unit 206 12438 28,400.00
Edgewood 11/05/2009 Edgewood unit 12462 3,278.00
Edgewood 11/05/2009 Edgewood unit 12463 3,360.00
Edgewood 11/05/2009 Edgewood unit 12464 3,728.00
Edgewood 12/4/2009 Alzhelmers Unit 12774 37,564.00
Aloisi&Aloisi 1/14/2010 3 Harvest Dr.#206 18035 47,856.00
Edgewood 1/22/2010 25&29 Charlotte 13266 7,952.00
Edgewood 1/22/2010 24&30 Charlotte 13267 6,972.00
Unit 1 26 2
McGloin 2/26/2010 180 Chickenn Rd.U It 09 C 25 29,700.00
Marian P.Abraham PC 3/31/2010 4 Harvest Dr.Unit 103 2067 29,200.00
Douglas Mercurio 4/12/2010 190 Chickering Rd Unit 211D 14082 23,850.00
Edgewood 4/29/2010 Milk Barn 14327 16,056.00
Stiles&Associates LLC 11/10/2010 610 Alden Way 11278 40,000.00
Edgewood 12/14/2010 Second(final)Installment of AH payment 16768 347,163.00
Dalton&Feingoid 6/6/2012 R.Vanasse-Pa off; 14 Annis St. 14047 12,000.00
Law Office of Erik T.Potter 2/28/2013 Ryan Connolly-Down Payment Reimb. 1027 5,500.00
Law Office of Douglas Mercurio 9/3/2013 Stephanie Galssl-Down Payment Reimb. 23629 5,000.00
Compass Point Condos 9/11/2013 96,98,100 Compass Point Condos 7673,7674,7675 15,000.00
Compass Point Condos 12/26/2013 94 Compass Point Condos 7763 5,000.00
Bernardini Law 3/18/2014 Bethany Blaney-Down Payment Reimb. 16 5,000.00
Compass Point Condos 4/4/2014 90 Compass Point Condos 7766 51000.00
Compass Point Condos 7/28/2014 80 Compas Point Condos 7773 5,000.00
Dalton&Feingold 8/11/2014 Kara Bruce Down Payment Reimb. 30831 5 000.00
Trust Construction Corp. 8/19/2014 84&86 Compass Point Condos 7774 10,000°00
G.Penney Down Payment Reimb. 1401 Great
Skim Title&Closing Serv. 8/28/2014 Pond Rd Unit 11 168234,000.00
Trust Construction Corp. 10/28/2014 76 Compass Point Condos 7842 5,000.00
Keating Law Office 5/6/2015 200 Chickering Rd Unit 1068®resale 14312 16,700.00
Trust Construction Corp. 5/11/2015 58 Compass Point Condos 7874 5,000.00
Matthew McCarthy-16B Kingston St#114 Down Payment
Brian Mcdrail Atty. 6/29/2015 Reimb. 8064 5,000.00
Community Preservation Grant 9/2/2015 64-66 May Street wire 100,000,00
Trust Construction Corp. 7/27/2015 68 Compass Point 7879 11000.00
Trust Construction Corp. 9/14/2015 74 Compass Point 7880 5,000.00
Trust Construction Corp. 10/22/2015 52 Compass Point 7922 11000.00
Trust Construction Corp. 10/23/2015 50 Compass Point 7923 5,000.00
Trust Construction Corp. 1/15/16 62CompassPoint 7925 5,000.00
Fiorello&Migliorl 3/8/2016 Relmb for sale of May St Unit 3725 64,000.00
Florello&Migllori 5/3/2016 Reimb for sale of May St Unit 3877 64,000.00
Trust Construction Corp. 6/15/2016 56 Compass Point 7927 5,000.00
as
eP�yablesrti6b71 a ! 1 1 9
'Housing ,578000
Trust Construction Corp. 9/14/2016 48&64 Compass Point 7934 10,000.00
Trust Construction Corp. 10/11/2016 66 Compass Point 7932 5,000.00
Trust Construction Corp. 11/3/2016 60 Compass Point 7933 5,000.00
Manzi Bonanno&Bowers 11/21/2016 5,000.00
Trust Construction Corp, 12/15/2016 46 Compass Point 7937 5,000.00
Wire Transfer from CPA Grant 4/6/2017 100,000.00
Trust Construstion Corp 5/4/2017 38&40 Compass Point 8026 10,000.00
Trust Construction Corp 5/25/2017 42 Compass pount 5,000.00
Trust Construstion Corp 5/31/2017 44 Compass Point 5,000.00
Wire Transfer from CPA Grant 9/11/2017 100,000.00
i
Total nteres earned o a e 33,150.70
trb„ fn�J"�"�,d,y�f%1���„.>/f`'� •,au, ,,•,. '.^ ,,.: #F t; S ,+If 4A s s,Ms'•yt M i `}a.+q.Mk11F �� •,.
Renee Therrien 10/8/2010 3 Harvest Dr.Unit 207-resale 5,500.00
Valerie A.Peabody 11/4/2010 4 Harvest Dr.Unit 222 resale 4,000.00
Other Charges&Expenses 4/22/2011 22-24 Ashland St 11,115.50
Paula Avery-Century 21 6/9/2011 190 Chickering Rd#2071)®resale 4,000.00
Carol Declerq 8/8/2011 1 Harves Dr.Unit 303-resale 4,000.00
Lauren Chapman 11/18/11 1 Harves Dr.Unit 207-resale 4,000.00
Daher Companies 3/27/2012 4 Harvest Dr.Unit 108-resale 4,000.00
Johanna Tosch 4/12/2012 4 Harvest Dr.Unit 120-resale 1,650.00
Coastal Homebu er 9/15/2011 Estrella/Gonzalez applicaion review 1,000.00
Coastal Homebuyer 9/15/2011 Process Wu Gills Dejesus Bruno&Oramas 2,500.00
Coastal Homebuyer 12/22/2011 Applicabion review Kitties&Rivers 1,000.00
Coastal Homebuyers 2/16/2012 Application review Letendre&Gills 2,000.00
Coastal Homebuyers 3/26/2012 Closings-Oramas,Kittles&DeJesus 4,500.00
Brad Hodgson 02/20/13 -1305 Basswood Circe-resale 2,715,00
Caroline Walsh 02/20/13 4 Harvest Drive,Unit 206-resale 2,460.00
Kimberly Palmer Manning 6/20/2013 1 Harvest Dr,Unit 307 2,460.00
Janice Orlando 10/29/2013 180 Chickering Rd.Unit 2090 2,016,00
Bread&Roses Housing Inc. 3/20/2014 91 Waverly Road 110,000.00
Martha Sykes 3/27/2014 3 Harvest Dr.Unit 110 2,445.00
Gregory Penne 7/24/2014 1 Harvest Dr.Unit 109 resale 2,098.50
Bethany Biainey 7/24/2014 4 Harvest Dr Unit 303-resale 2,812.50
Claire Sokol 8/28/2014 4 Harvest Dr.Unit 307-Brokers fee reimb. 2,52100
Ryan McSheehy 10/14/2014 4 Harvest Dr.Unit 212-Brokers fee reimb. 1,860.00
Wire Transfer 9/2/2015 Bread&Roses-May Street 400,000.00
AN Tabibian 11/5/2015 2 Harvest Dr.Unit 105 resale 2,085.00
Wire Transfer 9/13/2016 Bread&Roses-May Street 115,000.00
Christopher Long 11/3/2016 200 Chickering Rd.,Unit 1038 broker fee reimb. 2,040.00
Wire Transfer 9/12/2017 Bread&Roses 310,000.00
Wire Transfer 9/26/2017 Bread&Roses 300,000.00
Enviromental Business 10/5/2017 Feasibilty Study Fountain Drive 510.00
Dlemer Joan M 10/19/2017 Relmb for broker fees 2,535.00
Action Services 11/15/2016 Escrow for repairs Chickering Road 7,555.00
Enviromentai Business 11/16/2017 Fountain Drive project 990.00
��*Oetiditiires totawt ►
CURRENT BALANCE 417,480.20
3
I
pp
f,
2
LoweiRve• Statement Ending 12/3112017
The RefathnsNp Bank Page 1 of 4 s
P.O.Box 440
Lowell,MA 01853 3
ADDRESS SERVICE REQUESTED Managing Your Accounts
Main Number (800)931-3483 I
Lost/Stolen Card (800)472-3272 s
TOWN OF NORTH ANDOVER34 John Street
AFFORDABLE HOUSING COMMITTEES Main Office Lowell,MA 01852 I
\ ; E
120 MAIN ST Online Access www.lowellfiva.com F
NORTH ANDOVER MA 01845-2420
16� i
1 ABA Routing# 211371337 €
I
® APP Download our Mobile App {
todayl i I
f■■■ S � Fr
� • •• � fi i i� tt l �
y?E• gay":1
Visit lowellfive.com to learn more, tni4sFma l
f
HAPPY HOLIDAYS and warm wishes for healthy and prosperous NEW YEARI From all of us at Lowell Five Bank.We
value your banking relationship and THANK YOU for banking with us. f F
Summary of Accounts
Account Type Account Number Ending Balance
Business Money Market XXXXXXXX3101 $417,480.20 i
Business Money Market - XXXXXXXX3101
x
Account Summary Interest Summary j
Date Description Amount Description Amount ` f
1210112017 Beginning Balance $421,256.74 Annual Percentage Yield Earned 0.75%
1 Credit(s)This Period $258.46 Interest Days 31
1 Debits)This Period $4 Interest Earned $265.77 t
12131/2017 Ending Balance $417,480.20 Interest Paid This Period $258.46 j
Interest Paid Year-to-Date $5,911.88
Interest Withheld Year-to-Date $0.00
o f
F� 111M. j
f
i
I- S
1
I
a
i
�r/ t �r xvE� ' �, i �
�'wU"ti' t�J 9fJ�4 n { % F fa n✓A m kl "
r[% J?' �ft
tP!r3ar' 'Y�%a� �`.�r'� �il?
r d,+, .. „, „r,N i v,� 1?4✓x.. Par�.'
01/23/2018 09:23 Town of North Andover P 1
90521sav ,ACCOUNT TRIAL BALANCE FOR FY18/JUL TO DEC lglatrbal
FUND
ACCOUNT
ACCOUNT NAME BEG. BALANCE DEBITS CREDITS NET CHANGE END BALANCE
PER JNL SRC EFF DATE REFERENCE
8007.0.00.0000.0,0000.00.0000.104000.
Cash Affordable HouSin. "r. st 936,312.77
1 1370 CRP 07/31/17 CASH RECEIPTS JOURNAL 556.79 .00 556.79
2 711 CRP 08/31/17 CASH RECEIPTS JOURNAL 575,71 .00 1.,132.50
3 59 GEN 09/11/17 SYSTEM GENERATED DUE TO LINE 100,000.00 .00 101,132.50
3 74 APP 09/12/1.7 WireTr .00 310,000.00 -208,867.50
3 504 APP 09/26/17 WireTr .00 300,000.00 -508,867..50
3 830 CRP 09/30/17 CASH RECEIPTS JOURNAL 605.35 .00 -508,262.15
4 52 APB 10/05/17 To r .00 510.00 -508,772.15
4 424 APP 10/19/1.7 To Wr ,00 2,535.00 -511.,307.15
4 798 CRP 10/31/17 CASH RECEIPTS JOURNAL 489.08 .00 -510,818.07
5 350 APP 11/15/17 WT1115 .00 7,555.00 -518,373.07
5 392 P 11/16/17 To Wr .00 990„00 -51.9,363.07
5 893 CRP 11/30/17 CASH RECEIPTS JOURNAL 272.04 .00 -519®091.03
6 1034 CRP 12/31/17 CASH RECEIPTS JOURNAL 258.46 .00 -518,832.57
8007-1.04000 936,31.2.77 102,757.43 621,590.00 -518,83.2.57 41704.86 .20
8007.0.00.0000.0.0000.00.0000.203000.
Accounts Payable .00
3 73 API09/12/17 B 600 .00 310,000.00 -310,000.00
3 74 APP 09/12/.1.7 WireTr AP CASH DISBURSEMENTS JOURNA 310,000.00 .00 .00
3 503 API 09/26/17 B 613 .00 300,000.00 -300,000.00
3 504 APP 09/26/17 WireTr AP CASH DISBURSEMENTS JOURNA 300,000.00 .00 .00
4 50 API 10/05/17 B 612 .00 510.00 -510,00
4 52 APP 10/05/17 TO Dir AP CASH DISBURSEMENTS JOURNA 510.00 .00 .00
4 423 API10/19/17 B 621 ..00 2,535..00 -2,.535.00
4 424 APP 10/19/.1.7 TownWr AP CASH DISBURSEMENTS JOURNA 2,535,00 .00 .00
5 349 API 11/15/17 B 643 .00 7,555.00 -7,555.00
5 350 APP 11/15/17 WT1115 AP CASH DISBURSEMENTS JOURNA 7,555.00 .00 .00
5 391 API 11/16/17 B 634 .00 990.00 -990,00
5 392 APP 11/16/17 TownWr AP CASH DISBURSFIKENTS JOURNA 990.00 .00 .00
8007-203000 .00 621,590.00 621,590.00 .00 .00
8007.0.00.0000.0.0000900.0000.359000®
Fg/B Affordable Housing Trust -936,312.77
8007-359000 -936,312.77 _00 .00 .00 -936,312.77
007.0.00,0000.0»0000.00.0000.468500„
Grant Revenue-CPA Project .00
3 59 GEN 09/11/17 Transfer to Affordable Housi .00 1.00,000.00 -100,000.00
8007-468500 .00 .00 100,000.00 -100,000.00 -1.00,000.00
8007.1.00.0000.0.0000.00,0000.482000.
Interest Income .00
1 1370 CRP 07/31/17 0145 CASH RECEIPTS JO .00 556.79 -556.79
2 711 CRP 08/31/17 0145 CASH RECEIPTS JO .00 575.71 -1„132.50
3 830 CRP 09/30/17 0145 CASH RECEIPTS JO .00 605.35 -1,737,85
4 798 CRP 10/31/17 0145 CASH RECEIPTS JO .00 489.08 -2,226.93
5 893 CRP 11/30/17 0145 CASH RECEIPTS JO .00 272.04 -2,498.97
6 1034 CRP 12/31/1.7 0145 CASH RECEIPTS JO .00 258..46 -2,757.43
80070001-482000 .00 .00 2,757.43 -2,757.43 2,757.43