HUDSON MUNCIPAL AFFORDABLE HOUSING TRUST
78 Main Street – Town Hall
Hudson, MA 01749
Minutes of Meeting Held on
March 19, 2012 – 11:00am
3rd Floor Conference Room, Town Hall
Members Present: Jennifer Burke Absent: Tony Loura
Linda Ghiloni
Kevin Santos
Kerin Shea
John Parent
I. Discussion of Potential Purchase of 21 Blueberry Land
The 90 day period from March 6 would require a purchase by June. Mr. Santos did visit the site and the property needs some work in the range of approximately $10,000 for paint, carpeting, and possible new roof in the next five years. The cedar shingles are in good shape, it has a finished basement and the hardwood floors are in good condition.
If we purchase for $251,000 we would initially have a loss of $50,000, since the selling price has to be $201,000 and the property would need an additional $10,000, leaving us with a total $60,000 loss. The issue is selling the property and if that did not happen the committee would need to rent and maintain the property.
Mr. Parent motioned not to buy 21 Blueberry Lane, seconded by Ms. Shea and carried…
Vote: 5-0 in Favor
Knotts Clearing
CHAPA has requested that the committee consider listing Knott’s Street through MLS and that we pay the brokers fees of approximately $5,000 to $6,000. Ms. Burke motioned to pay buyers commission through the AMHT funds, seconded by Mr. Parent and carried…
Vote: 5-0 in Favor
Esplanade Units
The committee was not interested in purchasing Unit #313 which is in foreclosure.
The other Unit #207 should be marketed by CHAPA and the flyers should be on the Towns website.
III. Other Business
Ms. Burke will be moving out of Town soon and therefore no longer allowed to be a member of the committee. She will continue to help us in an advisory capacity since the Planning Department receives all notices of the resale of current affordable units.
III. Adjourn
Ms. Burke motioned to adjourn the meeting at 12:00noon, seconded by Ms. Ghiloni and carried…
Vote: 5-0 in Favor
Motion to Adopt: Mr. Parent
Second: Ms. Ghiloni
Vote: 5-0-1 Mr. Peznola abstained
May 10, 2012
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