HomeMy WebLinkAbout2025-06-10 Affordable Housing Trust Minutes North Andover Affordable Housing Trust
Meeting Minutes
June 10, 2025
Present: Laurie Burzlaff, Richard Vaillancourt, Robert Bernardin, Peter Koesterherm,Joyce Pinkham
and Janice Phillips.
Meeting was called to order at 5:01PM in the Select Board Meeting Room at Town Hall.
Approve minutes of April 15,2025
Peter Koesterherm made a motion, seconded by Janice Phillips to approve the minutes ofApril 15,
2025 as presented Motion approved 6-0.
Treasurer's report
Received$500,000 from CPC. No material changes.
Discussion regarding acquiring units/affordability restrictions
The Trustees discussed how we want to handle properties that come up during the year. These include
units that may lose their affordability restriction or properties that are for sale. One property on High
Street owned by Veterans Outreach is for sale. The Town does have a restriction on the property so the
market is really for a nonprofit. Ms. Burzlaff stated the Town advised them to reach out to the housing
authority, CAF and Habitat to see if any of those organizations were interested.
Ms. Phillips explained that there is a property on Beverly Street that will be sold and one of the owners
asked about an affordable restriction. It is 3 units with the possibility to expand to 4 or 5. The Trustees
agreed that the Trust should not purchase properties but should refer them to the nonprofit organizations,
who then can apply to the Trust for funds to help purchase the property. These are 2 examples of why the
trust should receive the entire allocation of CPC funds so we are in a position to provide assistance when
properties come up for sale.
Request from Center for Assistance to Families to release$500,000 to purchase 14-16 Brown Court
Damarias Frias and Walkiria Pool were present from CAF. They have the signed amendment to the
Purchase and Sale for 14 and 16-18 Brown Court and are closing on July 9`h. They are requesting
$500,000 from the Trust to allow them to move forward with the purchase. These funds were approved at
Town Meeting through CPC funding. Ms. Pool stated that the zoning application has been submitted and
they expect to be on the August zoning meeting. Ms. Burzlaff discussed the need to explore all avenues
for the property-merger of title, 40B, condominium. Ms. Pool said their attorney is reviewing these items.
North Shore Home has advised the town that HOME funds can only be used to sell to those at the 60%
AMI. In the past, the Trust has allowed up to 100%because that is what is allowed by CPC. For this
development, since HOME funds are being used,the units must go to individuals/families at or under
60% of the area median income. If not,they will need to pay back the funding. Ms. Pool stated that their
consultant is experienced in funding and development and they are also looking to hire a real estate
development person. They have developer consultants in Washington who can assist as well.
Mr. Bernardin asked if there was an appraisal. A formal appraisal was not completed but they did use
comps to determine the sale price. The property is assessed at$429,000.
The Trustees reviewed the draft of the grant agreement,note and mortgage.
Peter Koesterherm made a motion,seconded by Janice Phillips to release$500,000 to Center for
Assistance to Families for the purchase of 14 and 16-18 Brown Court. Motion approved 6-0.
ADJOURNMENT
Motion for adjournment made by Janice Phillips seconded by Robert Bernardin at 6:06PM.Motion
approved 6-0.
MEETING MATERIALS:
Minutes
Draft grant documents