Affordable Housing Trust Fund Board of Trustees 08/19/2026

The City of Worcester Affordable Housing Trust Fund Board of Trustees held a meeting on August 19, 2026, focusing primarily on procurement and funding matters related to affordable housing projects. The board approved an extension of the ARPA and CPA conditional grant agreements for the Colony on Grove Apple Phase 1 and Colony on Grove Beach Phase 2 projects to September 30, 2026, to allow for coordinated financial closing. The extension did not alter award amounts or terms. The board also adopted a new administrative expenditure policy to govern budgeting, approval, and reporting of administrative expenses, setting a $5,000 delegated authority threshold for individual expenditures and requiring quarterly financial updates. Financial reports indicated a reconciled bank balance of nearly $6.8 million with approximately $4.5 million in undispersed project commitments, including significant funds allocated to Colony on Grove Apple. Updates included the completion and occupancy of several ARPA-funded projects and upcoming events such as a ribbon-cutting ceremony and a homeownership summit. The meeting concluded with all motions passing by roll call vote.