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BAHT Meeting Minutes May 31 2017Beverly Affordable Housing Trust Fund Regular Meeting May 31, 2017 CITY OF BEVERLY PUBLIC MEETING MINUTES Board: Beverly Affordable Housing Trust Date: May 31, 2017 Location: Beverly City Hall, Conference Room "B" Members Present Chair Aaron Clausen, Treasurer Bryant Ayles, Clerk Sue Gabriel, Mayor Michael Cahill Members Absent: Richard Dinkin Others Present: Assistant Planning Director Darlene Wynne Recorder: Donna Musumeci Adjournment The meeting was called to order at 2:05pm. Meeting Minutes Motion to approve the minutes by Ayles. Gabriel seconds the motion. The motion passes unanimously (4 -0). Funding The group discussed status of funding. Ayles said we are at $654k with one more payment of $104k, so will be at about $750k shortly. Cahill asked the status of moving allocated money from the CPC. Clausen indicated that the CPC were generally supportive of the idea but curious how funds would be expended consistent with CPA statutes. Cahill suggested that establishing the priorities should give the CPC comfort. Wynne notes that Shelly Goehring, from MHP, would be willing to meet with CPC. Ayles confirms that the annual CPA housing allocation is roughly $80k per year. Prior expenditures by CPA toward housing were discussed. It was noted that the CPC can give more than 10% to affordable housing. Cahill suggests that the CPC should consider how to spend the additional 70% and how much is dedicated towards housing, and establish a policy. Cahill commented that there should be a high enough percentage in CPC funds that is free and clear to be able to prioritize and respond to timely situations. This group will want the decision - making capability but not sure the CPC will agree with that. Cahill and Gabriel advised we should have a plan in place to work with the City Council and all stakeholders on what we propose. Cahill asked that Amy Maxner attend a future meeting to get a sense of how CPC makes decision on expenditures. Clausen asked if the trust should ask for the 10% or more than that. Cahill suggests the trust should ask for the full amount the CPC decides to allocate annually, whether it be above 10% or not. Ayles notes that the Council doesn't have the same authority over the expenses in the trust as they do CPC expenses; they will have to approve CPC's decision to allocate the funds to the trust. Cahill suggests that the trust meet with City Council as well to ensure they are comfortable with the trust's priorities and activities. Beverly Affordable Housing Trust Fund Regular Meeting May 31, 2017 Ayles advised the CPC is in its 4th year, the 3rd with funding recommendations. Adding the 10% of housing funds from the last 3 years of CPC housing funds (approximately $278k) would increase the total in the trust to approximately $1M. Draft Housing Plan and Draft Guideline Discussion Clausen went through the strategies from the final draft of the Housing Plan. Highlights included the need to form and create the trust; amendment of the inclusionary housing ordinance to serve a lower affordability need and increase fee in lieu payment; encourage mixed use and mixed income properties around the transit stations; the Bass River area rezoning; and provide education and outreach to the community; among others. Discussed reintroducing housing rehab program as part of the trust. Other strategies discussed include partnering with local institutions and non - profits. Clausen reviewed how many of the listed strategies involve the trust, specifically numbers 4, 6, 7, 8, 9 (potential), 10 (potential). Clausen confirms that the trust could, technically, be an advocate for affordable housing projects. Gabriel said it could be beneficial for the trust to also be an advocate. Cahill confirmed these are strategies that represent the most relevant potential ways to expend funds. In referencing the list of housing strategies in the Community Housing Plan, Clausen noted 98 to pursue funding for rehab, 49 for emergency assistance, i.e. needs such as a leaking roof, and 914 partnering with others, i.e. Harborlight. So the trust could develop a program based on #6, 8 and 9 strategies, and #14 could overlap with #8. Ayles brings up financially sustainability for the program. He notes a primary goal is to have affordable housing stock sustained in the long run. Trust needs a process to identify what barriers exist, how to structure a program to support other entities or community partners and ensure some form of sustainability, not just granting the money. Gabriel noted the Trust needs to be looking at both the person and the housing unit involved when looking at sustainability. Ayles inquired about notion of having a mission statement. Gabriel suggests "maximize access to affordable housing" as a mission statement. Discussion continued on the draft of guidelines. Group agreed there should be a mission statement on page 1. Section 1 draws on the ordinance basically establishing the trust. Next would be the funding program under the stature, followed by specific funding priorities. Gabriel suggested starting with the top 3 priorities, and then adding others as the trust evolves. She suggested using the RFP for specifics. Funding would be distributed according to the current priorities. Clausen said the application should list the funding priorities. Clausen advised there is a need for creation of new affordable units. Suggested that the trust tailor the mission statement a little more broadly and then use the RFP or application process for specific priorities that may vary over time. Clausen noted funding priorities on page 3 could be general in nature. Gabriel asked then is the goal to build more units or subsidize what is here. Clausen said building more units can be a means of preservation of long term affordability. Question of whether staffing is needed to manage the program. $80k -$90k per year revenue is what we have. Will the program be robust enough to staff internally? Beverly Affordable Housing Trust Fund Regular Meeting May 31, 2017 Wynne noted there are two funding rounds proposed, one in fall and one in spring. She suggested that there may be one set round, and then take rolling applications after that. Discussion ensued on how many times the board will meet, clarification on electronic meetings and voting, and turnaround time for applications. Clausen recommends 6 meetings per year, with an added annual meeting that would be for a year recap, budget and next renewal process. Gabriel suggested one public meeting, said the consultant had advised this would be good communication to the community. Cahill suggested the trust go before the city council sub- committees to get feedback as a way to have the public conversation. Discussion on Next Steps Weeks to schedule the next meeting were discussed as Y week in July, last week in June, or 1St week of August. Clausen and Wynne will further distribute the draft BAHT guidelines and a proposed mission statement. It was noted that funding guidelines should include how loans are offered. The draft mission statement will be provided to the board before the next meeting. Shelly Goehring to be invited to next meeting to talk specific programing on how we implement. Proposal should be ready by September to go to the CPC. Adjournment Motion to adjourn by Gabriel. Ayles seconds the motion. The motion passes unanimously (4 -0). Meeting adjourned at 3:25.