HUDSON MUNCIPAL AFFORDABLE HOUSING TRUST
78 Main Street – Town Hall
Hudson, MA 01749
Minutes of Meeting Held on
November 21, 2011
3rd Floor Conference Room, Town Hall
Members Present: Jennifer Burke Absent: Tony Loura
Linda Ghiloni
Kevin Santos
Kerin Shea
John Parent
I. Discussion of proposed CDBG application by Michelle Ciccolo, Director of Community Development
Ms. Ciccolo explained that she was applying for a Community Development Block Grant and one of the components is a Buy Down Assistance program. This program could potentially help 4 to 12 families get into a home. She is requesting $100,000 and would like matching funds from the Housing Trust. Leveraging funds from another source will create a program which can have a more meaningful impact.
Ms. Burke motioned to pledge $100,000 from the Housing Trust Fund if the grant is successful, seconded by Mr. Parent. Ms. Shea abstained.
Vote: 4-0-1
II. Discuss available funds and possible CPA application for additional fund transfer.
Ms. Burke stated that she would like to keep enough funds in the Housing Trust in the event that an affordable unit came up for sale to keep that unit as an affordable one. The Housing Trust has not asked for any additional money over the 10% required through CPA at this point.
Mr. Santos motioned to apply to Community Preservation for $150,000 in the next round of applications, seconded by Ms. Burke. Ms. Shea abstained
Vote: 4-0-1
III. Discuss ideas for possible programs, other funding ideas, etc.
Discussion followed regarding our present affordable housing stock, the LIP program and future needs. Ms. Ciccolo suggested a Down Payment Assistance program granting individuals 6 to 15% of the total 20% down payment. Suggested guidelines for this program were that the “loan” would be paid back when the unit was sold, etc. Ms. Burke motioned to allot $100,000 to the Down Payment Assistance Program, seconded by Mr. Parent and carried...
Vote: 5-0 in favor
IV. Future meeting schedule
Ms. Ghiloni suggested scheduling future meetings prior to Master Planning Committee meetings. Ms. Burke said once she had that schedule she would inform members.
Ms. Burke motioned to adjourn the meeting at 6:30pm, 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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