Affordable Housing Trust updates CPC warrant drafting, seeks MHP technical assistance and moves to executive session on potential acquisition

The Town of Southborough Affordable Housing Trust received several project updates and voted to enter executive session to discuss a potential property acquisition.

Speaker 5 reported that the Community Preservation Committee (CPC) unanimously voted to move the Trust’s application through technical review and that CPC consultant Freddie Gillespie will begin drafting a warrant article reflecting available funds. Draft CPC financials discussed during the meeting show roughly $50,000–$60,000 available above the $100,000 reserve that the CPC typically leaves in the housing bucket.

Committee members said the Trust has previously received a significant transfer to build its balance; one speaker referenced a prior transfer of about $500,000 into the Trust. The group agreed to continue coordinating with CPC as the warrant article is drafted and to provide materials and responses as needed.

Separately, the Trust reported that it submitted an application for MHP technical assistance intended to help the Trust systematically identify development opportunities, explore additional revenue streams beyond CPA funds, and assess potential development partners. The committee noted the MHP TA is offered at no cost to applicants and said a decision was expected soon.

Speaker 5 confirmed the town’s housing production plan has been officially approved for five years and that the Trust received a letter from the state housing authority confirming compliance.

Near the meeting’s end, a committee member raised two potential property leads—one that had been the subject of a prior offer (recommended for discussion in executive session) and another parcel on Southville Road in an MBTA Communities opportunity area. Because discussing acquisition details in public could harm the town’s negotiating position, the Trust voted to enter executive session under MGL chapter 30A, section 21, clause 6, and did not return to open session.

The actions recorded at the meeting include approved minutes for Oct. 16 and Nov. 13, the Trust’s advisory endorsement of the 12.5% 55-plus bylaw position (reported separately), the MHP TA submission, and the executive-session vote on potential property acquisition.