2023-9-6 AHT meeting minutes (1) CITY OF BEVERLY
PUBLIC MEETING MINUTES
BOARD OR COMMISSION: Beverly Affordable Housing Trust
DATE: September 6, 2023
LOCATION: Beverly City Hall, 191 Cabot Street, 3rd Floor Conference
Room "A"
MEMBERS PRESENT: Chair Darlene Wynne, Treasurer Bryant Ayles, Mayor
Michael Cahill, Clerk Susan Gabriel, Richard Dinkin
MEMBERS ABSENT:
OTHERS PRESENT:
RECORDER: Naomi Moca
1. Call to Order
Chair Wynne calls the meeting to order at 2:41 p.m.
2. Election of Officers (Chair, Clerk, Treasurer)
Gabriel: Motion to nominate Wynne as Chair. Dinkin seconds.
Dinkin: Motion to close nominations. Mayor Cahill seconds. Motion carries (4-0-1).
Wynne recuses herself.
Cahill: Motion to nominate Gabriel as Clerk. Dinkin seconds.
Cahill: Motion to close nominations. Dinkin seconds. Motion carries (4-0-1). Gabriel
recuses herself.
Gabriel: Motion to nominate Ayles as Treasurer. Dinkin seconds.
Cahill: Motion to close nominations. Dinkin seconds. Motion carries (4-0-1). Dinkin
recuses himself.
3. Update on Financial Balance
Bryant updates the Trust: there were two payments from the Congress Street developments
totaling $192,500 paid in 50% increments. Anchor Point I paid $250,000. The Trustees discuss
that the Briscoe project came before the Trust for additional funds. The Trustees discuss the
Community Preservation Committee (CPC) coordination and joint funding efforts. Gabriel asks
if additional monies are expected to be given to the Trust, and Wynne states no as there are no
fee-in-lieu payments anticipated. The Trustees discuss that there is $250,000 remaining.
Cahill states that the idea of buying the lower-income population out of a project is not popular
with the Planning Board and cites the example of the Depot Square II project's actions keeping
lower-income populations out of the buildings. Dinkin states that Depot Crossing paid off their
affordable housing obligation with past projects such as 6 Hardy Street, which was then
developed by Harborlight Homes, and the building across from Friendly's. They bought a six-
family and donated a six-family. Cahill proposes coordinating with the DPD to replenish the
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Trust periodically so that when requests come in, the Trust can show the various pieces of
support.
Dinkin asks if$200,000 of the $250,000 is encumbered and Bryant states that it is all available.
Dinkin points out that Briscoe Village is designated as paid in full but the check has not been cut
yet, so even though it appears on the report, it is not part of the $250,000.
4. Funding Application Review and Decision
a. Anchor Point Phase II—Harborlight Community Partners —Harborlight Homes
—Request for $50,000
Project Manager Andrew Leonard of Harborlight Homes is present and states that the second
phase of the Anchor Point Phase II project is requesting $50,000. Leonard states that Anchor
Point Phase I was successful and expresses gratitude to the Trust. Phase II will have 39 two- and
three-bedroom affordable units at 30% and 60% of the median area income. The project was
funded by the State in 2022, and the project now has a funding gap due to the rise in construction
industry costs and the rise in interest rates which has affected the applicant's ability to borrow.
Thus, while the scope of the project has not changed, its cost has.
2:49 p.m.: Director of Harborlight Homes Andrew DeFranza arrives.
The Trustees discuss that the project does not have tax-exempt status. Cahill asks when able to
lock in rates for closing on the project, and Leonard states that December 2023 is anticipated.
Leonard summarizes the cost-trimming measures that are being considered, such as removing the
pedestrian bridge and/or the play splash pad area. Wynne states the Trust issued a commitment
letter in 2022 for FY 2022-23 and FY 2023-2024.
Gabriel: Motion to award $50,000 to Anchor Point Phase II—Harborlight Community
Partners. Dinkin seconds. The Trust discusses that if the whole amount were
awarded it may drain the account. DeFranza clarifies that the aggregate of the
CPC and the Trust is what is needed to show to the State. The Trust discusses
whether to award more than the requested amount. Cahill states that the CPA
funding is a finite amount and Wynne states that the CPC will be receiving at
least three community housing applications. Motion carries (5-0).
5. Approval of minutes
a. March 24, 2021
The members review and offer edits to the March 24, 2021 draft meeting minutes.
Gabriel: Motion to accept the March 24, 2021 meeting minutes as amended. Ayles
seconds. Motion carries (5-0).
6. Discussion: Review of Trust objectives, guidelines, and future activities
Gabriel states that it is important to resolve how to get more funding. Cahill states that there is no
reliable income stream for the Trust Fund. The Trust discusses the historical preservation needs
at Beverly Golf and Tennis and the Carriage House.
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The Trustees discuss that it is appropriate to meet with the CPC. Wynne states that CPC pre-
applications are due at 12 noon on October 12, 2023. The Trustees agree to complete a pre-
application for up to 10% of the CPA funds designated for Community Housing and request to
attend the November 16, 2023 CPC meeting.
The Trustees discuss that the rent in the Depot Square II project has reached $4,000 per month
for some units. Dinkin states that nationally, 50% of households in the U.S. are housing insecure
(defined as paying more than 1/3 of the household's gross income for housing), and 10% are
extremely housing insecure (defined as paying more than 50% of the household's gross income
for housing). Dinkin states that 37% of Beverly households are housing insecure and 17% are
extremely housing insecure. The Trustees discuss that there can be resistance among residents
when affordable housing is proposed in their neighborhood. The Trustees discuss the negative
connotation of the term "low-income housing" and Dinkin compares the publicly subsidized
housing in Singapore to the U.S.
7. Adjournment
Ayles: Motion to adjourn. Gabriel seconds. The motion carries unopposed.
Meeting adjourns at 3:55 p.m.
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