Lowell Affordable Housing Fund Board - July 15, 2026

The Lowell Affordable Housing Fund Board held a meeting on July 15, 2026, focusing primarily on funding and procurement matters related to affordable housing projects. The board reviewed the receipt of a $310,000 payment from the Community Preservation Act (CPC) funds and discussed the first loan payment of $500,000 from Bob Cox for a 29-unit project at 267 Pucket Street. They also addressed ongoing efforts to vet and review three funding proposals currently under consideration, with plans to invite proposers to present at the next meeting in August before making any award decisions. The board emphasized the importance of transparency and due diligence, including potentially holding executive sessions for contract negotiations. Additionally, the board discussed diversifying funding streams by utilizing both ARPA and CPC funds to support different types of projects. A motion was passed to distribute the full proposals to board members ahead of the next meeting to allow ample review time. The next meeting was scheduled for August 19, 2026.