Westborough trust authorizes up to $750,000 bid for state‑owned Lyman Street parcel

The Westborough Affordable Housing Trust voted to authorize a representative to bid at the state’s DCAM auction for the 0 Lyman Street parcel, with a cap of $750,000, and authorized the chair or the chair’s designee to act on the trust’s behalf.

Trustees said owning the 5‑plus acre parcel would allow the trust to control the terms of development through an RFP — for example, prioritizing a 40‑unit, nonprofit‑led affordable project — if private bidders did not meet the town’s affordability goals. MetroWest Community Development had told trustees it could build 40 units of 100% affordable housing on the site but could not meet the auction’s 30‑day close requirement.

Discussion covered procurement limits and financing logistics: trustees noted a successful bid would require the trust to pay the full winning amount within 30 days, though the trust could later sell or reissue the parcel under RFP terms. The motion, amended to allow the chair or a designee to bid, passed on a roll‑call vote 5–0.

Trustees also discussed alternatives including joint ventures with nonprofit developers and the trade‑offs of bidding versus working with the eventual buyer to secure higher affordable set‑asides. No purchase was executed at the meeting; the vote only authorized a capped bid and a bidder representative to attend the Sept. 10 auction.

Trust staff said they would identify who would attend the auction, confirm registration and bid logistics (including a 10% certified deposit and 30‑day close requirement) and inform MetroWest and other interested nonprofit developers of the trust’s decision to pursue a bid if needed.