Minutes of Meeting Held on
Thursday, May 10, 2012 – 4:30pm
Recreation Office, 1st Floor, Town Hall
Members Present: Linda Ghiloni Also Present: Jennifer Burke
John Parent
Kevin Santos
Charles McGourty
Joseph Peznola
Kerin Shea
Mr. Parent nominated Ms.Ghiloni as the Chairperson of the trust, seconded by Mr. Santos and carried…
6-0 in Favor
Ms. Ghiloni nominated Ms. Shea as the Vice Chairperson, seconded by Mr. McGourty and carried…
6-0 in Favor
Ms. Ghiloni motioned to change the number of members in the Declaration of Trust to 9 (nine) individuals, seconded by Mr. McGourty and carried…
6-0 in Favor
I. Discussion of Esplanade Units #207 and #118
Unit #207 is set to expire on May 31. Discussion followed regarding whether to let it go, buy it outright and/or help CHAPA find a buyer. No decision was made at this time.
Unit #118 deadline to act is July 15th. Discussion followed regarding placing on MLS. Mr. Santos’s company allows him to do the listing and he does not get paid or make any money on the sale. Ms. Ghiloni motioned to list Unit #118 on MLS, seconded by Mr. McGourty and carried…
6-0 in Favor
Mr. Santos will contact CHAPA and sign paperwork to list on MLS.
II. Discuss Interest Cards
There are three additional individuals that have filed interest cards to be trustees. Ms. Ghiloni motioned that all three be recommended to the Board of Selectmen, seconded by Mr. Parent and carried…
Vote: 6-0 in Favor
III. Future Meeting Schedule
The next meeting of the trust will be on May 24, 2012 at 4:30pm in the Recreation Office.
IV. Approval of Minutes
a. Ms. Ghiloni motioned to approve the minutes of the July 13, 2010 as amended, seconded by Mr. Santos and carried…
5-0-1 in Favor – Mr. Peznola abstained
b. Mr. Parent motioned to approve the minutes of November 21, 2011 as written, seconded by Ms. Ghiloni and carried…
5-0-1 in Favor – Mr. Peznola abstained
c. Mr. Parent motioned to approve the minutes of February 10, 2012 as written, seconded by Ms. Ghiloni and carried…
5-0-1 in Favor – Mr. Peznola abstained
d. Mr. Parent motioned to approve the minutes of February 21, 2012 as written, seconded by Ms. Ghiloni and carried…
5-0-1 in Favor – Me. Peznola abstained
Mr. Parent motioned to approve the minutes of March 19, 2012 as amended, seconded by Ms. Ghiloni and carried…
5-0-1 in Favor – Mr. Peznola abstained
V. Old Business
Mr. Santos informed the trustees that Knotts would be passing papers soon and the buyers broker fee of 2.9% is $4,325.00 which the trust will pay. He inquired about billing and Ms. Ghiloni is responsible for processing checks through the Town accounts.
Discussions followed regarding ways to keep our housing inventory and not loose any more property. The following were options discussed:
- Contact the Housing Authority to see if they were in a position to manage rentals if we were to buy any property – Ms. Burke will talk with Julie Pappazisis;
- Discuss mortgage potentials or revolving credit with local banks – Avidia, Marlborough Savings and St. Mary’s Credit union. The mortgage or revolving credit could be for us until we can sell a property
- Also, discuss with banks the potential to hold mortgages in house for low income buyers. Unfortunately, most banks sell their loans to a third party and those (i.e. Fannie Mae) do not hold mortgages with the deed riders on them. We could potentially make up flyers with information about these local lenders when advertising properties for sale.
- In purchasing a unit at the Esplanade the monthly condo fees would be $163.00 per month, along with utilities. These would be fees we would not recoup.
VI. Adjourn
Mr. Parent motioned to adjourn the meeting at 5:30, seconded by Mr. McGourty and carried…
Vote: 6-0 in Favor
Motion to Adopt: Mr. Parent
Second: Mr. Santos
Vote: 3-2 in Favor (Ms. Frank and Mr. Golder abstained) July 10, 2012
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