Affordable Housing Trust Fund Meeting 11/12/26

The Affordable Housing Trust Fund meeting, hosted by RevereTV on November 12, 2026, reviewed finances and affordable-housing activity. The reported trust balance was approximately $993,558.77, including about $167,000 encumbered for upcoming payments to neighborhood developers. The board was told that senior home repairs are expected to cost about $80,000, with roughly $54,000 spent so far and a $10,000 Mass General grant supporting the program. A River Street homeownership transaction was expected to close the following week; up to $15,000 in closing-cost reimbursements had been preauthorized, but no reimbursement request had yet been submitted.

The board conducted a transparent priority lottery for 19 eligible applicants in the affordable homeownership program, which has $450,000 available for subsidies; the lottery established order of priority, rather than approving specific awards. Eligible applicants may also qualify for $10,000 in down-payment assistance, but cannot combine it with the larger subsidy. A proposed declaration of trust, needed to support the trust’s ability to buy and sell property, was circulated for review, with consent deferred until members had time to read it. No contract award or purchasing decision was made.