As reported this week in Wicked Local Wenham, the Board of Selectmen will submit a warrant article to establish a Municipal Affordable Housing Trust for consideration at the Annual Town Meeting in May. Through my work with the Board of Selectmen and Patrick Wilson of the Wenham CPC, we've proposed a structure for the Trust that would have broad oversight by the Board of Selectmen for all disbursements and would require approval from Town Meeting for borrowing.
If the Trust is approved at Town Meeting in May, the Community Preservation Committee would plan to recommend capitalizing the Trust at the Fall Town Meeting. This timing will give the Board of Trustees time to be appointed, get organized, and create an action plan and budget prior to requesting funds.
Does your community have a housing trust or are you considering establishing one? Share your thoughts, ideas, and any roadblocks you might be facing by commenting on this post.