Affordable Housing Growth and Development Trust Fund Board 08-17-2026

The Affordable Housing Growth and Development Trust Fund Board held a meeting on August 17, 2026, focusing on several procurement and contract-related matters. Key discussions included the formal signing of an amended declaration of trust, the approval of a loan commitment letter for Wind Development Harbor View at 703 Main Street, and the proposed transfer and sale of 850 Balmouth Road to Easy Property Group. The board emphasized the importance of ensuring proper management and compliance of affordable housing units, including a condition for the new owner to have staff complete a Certified Occupancy Specialist course. Additionally, the board reviewed and adopted a closeout policy for projects that do not proceed as planned. Strategic discussions addressed the use of funds for pre-development and development projects, potential expansion of the trust's scope to include preservation and rehabilitation of affordable housing, and the challenges related to town-owned assets and infrastructure. The board approved motions to adopt policies and agreements, with conditions to ensure compliance and effective management of affordable housing projects.