Town of Georgetown
Affordable Housing Trust
Minutes (approved 1-Mar-11)
Date: 9-Feb-11 7:00pm Town Hall 2nd floor meeting room
Attendance: Chas Waters; Tim Gerraughty; Paul Nelson; Phil Trapani
Guest: Lori Nickerson; Andrew Ciano
201 Central Street
CW recapped were we stand regarding the possibility of a buy down and that town council will review the language before the Trust could endorse any deal.
PN informed the Trust that we did a site visit and took some pictures of the work completed.
Ms. Nickerson had provided an affidavit stating that the improvements made totaled $23,145.02 and had previously submitted the backup receipts to the Trust.
Mr. Ciano asked if that the labor that was done by the homeowner could be added to the figure in the affidavit? It was debated and the Trust consensus was that without receipts it will not be included.
PN made a motion to accept the affidavit for the capital improvements and set that number at $23,145.02 PT 2nd Vote 4-0.
PT left to attend another meeting.
CW said that town council is reviewing the two options of the Trust being a third party at a closing or if the deed could be changed in advance. It was mentioned that Ms. Nickerson might want to engage her own attorney or tax preparer to see if there are any tax implications of a buy down at or prior to a closing.
PN was to work on nailing down a $ amount the home could be sold for.
CW was to work with town council on a draft agreement by mid-March.
Ms. Nickerson was to be invited to the next meeting, but may not need to attend as most of the work left could be done via e-mail.
Minutes
TG made a motion to approve the minutes of 19-Jan-11 as amended; PN 2nd Vote 3-0
Update on HPP
LDS was unable to attend the meeting due to an illness and would come to the next meeting.
Recording with Registry of Deeds / Land Registration Office
Paul Nelson said he needed a form to be registered at the Salem Deeds. He is going to get with Mike Farrell as the BOS are the appointing authority to accomplish this.
Update on HPP
CW said he spoke with Nick Cracknell and he had volunteered to be the point person for collecting data and working with LDS on the HPP as the Trust only meets about once a month to aid in speeding up the process. It was the general consensus to take Nick up on his offer.
Affordable Housing SOP
We reviewed the draft SOP prepared by PN. CW is going to adapt the form hopefully to a single page and re-circulate it out for further review and it will be brought up at our next meeting.
PN made a motion to adjourn 8:00pm (TG 2nd) Vote 3-0 in favor
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