2015-05-04 Annual Town Meeting Minutes

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ANNUAL TOWN MEETING Reading Memorial High School Preforming Arts Center May 4, 2015 The meeting was called to order by the Moderator, Alan E. Foulds, at 7:38 PM, there being a quorum present. The Pledge of Allegiance to the Flag was said by all in attendance. Motion made by Dan Ensminger, Board of Selectmen to dispense of the reading of all motions in their entirety. Motion Carried ARTICLE 18 Motion made by Board of Selectmen that the Town vote to approve an Affordable Housing Trust Fund Allocation Plan pursuant to Chapter 140 of the Acts of 2001 entitled "AN ACT AUTHORIZING THE TOWN OF READING TO ESTABLISH AN AFFORDABLE HOUSING TRUST FUND ". Background: Chapter 140 of the Acts of 2001 authorized the Town of Reading to establish a separate fund known as the Affordable Housing Trust Fund (AHTF). The AHTF requires Town Meeting approval of an annual allocation plan submitted by the Board of Selectmen. AHTF expenditures require approval by a majority vote of the full combined membership of the Board of Selectmen and the Reading Housing Authority. AHTF uses include: ♦ Create or preserve affordable housing; Maintain or operate affordable housing; Develop new or rehabilitate existing housing as affordable homeownership or rental units; The purpose of the Affordable Housing Allocation Plan is to provide a framework for the Town to expend funds on affordable housing. The current AHTF balance of $260,720.85 reflects revenue generated through the actions of the CPDC, as well as proceeds from the loss of an affordable unit. There are no Town tax generated funds in the AHTF. The only expenditure to date from the AHT was $200,000 to assist Oaktree development with financing affordable housing at 30 Haven Street. At the 2012 Annual Town Meeting, approval was given for funding to hire a consultant to assist a Town staff initiative to update the Town's Housing Plan, including the five -year "Housing Production Plan ". This effort is important as a defense against unfriendly 40B developments in the community, and requires the Town to develop a phased plan to produce housing to reach the 10% threshold as required by MGL Ch. 40B. Reading's Housing Production Plan has been approved by the Board of Selectmen and by the Commonwealth of Massachusetts. The Town commissioned and received a supplemental report on how the AHTF can best be used to support the "Planned Production" goals of the Housing Plan. This report was presented to the Board of Selectmen and the Reading Housing Authority in April 2013. The report recommended a significant restructuring of the Town's AHTF efforts. The Board of Selectmen considered these recommendations, but decided against any changes. Therefore, the current recommendation is to adopt the AHTF Allocation Plan as shown below as the framework for the use of Affordable Housing Trust Fund in FY 2016. Note that Reading as the lead community is part of a regional effort (along with North Reading, Wilmington and Saugus) to share a Regional Housing Services Officer (RHSO). The RHSO monitors and administers affordable housing requirements including tracking and updating the Subsidized Housing Inventory (SHI) as well as maintaining ready buyer and ready renter lists.