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2016-04-28 Annual Town Meeting Minutes
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2016-04-28 Annual Town Meeting Minutes
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ANNUAL TOWN MEETING <br />Reading Memorial High School <br />Preforming Arts Center <br />April 28, 2016 <br />The meeting was called to order by the Moderator, Alan E. Foulds, at 7:40 PM, there being a quorum <br />present. The Pledge of Allegiance to the Flag was said by all in attendance. <br />Motion made by John Halsey, Board of Selectmen to dispense of the reading of all motions in their <br />entirety. <br />Motion Carried <br />ARTICLE 8: Move that the Town vote to approve an Affordable Housing Trust Fund Allocation <br />Plan pursuant to Chapter 140 of the Acts of 2001 entitled 'SAN ACT AUTHORIZING THE TOWN OF READING <br />TO ESTABLISH AN AFFORDABLE HOUSING TRUST FUND", or take any other action with respect thereto. <br />Background: Chapter 140 of the Acts of 2001 authorized the Town of Reading to establish a <br />separate fund known as the Affordable Housing Trust Fund (AHTF). The AHTF requires Town Meeting <br />approval of an annual allocation plan submitted by the Board of Selectmen. <br />AHTF expenditures require approval by a majority vote of the full combined membership of the Board of <br />Selectmen and the Reading Housing Authority. AHTF uses include: <br />Create or preserve affordable housing; <br />♦ Maintain or operate affordable housing; <br />Develop new or rehabilitate existing housing as affordable homeownership or rental units; <br />The purpose of the Affordable Housing Allocation Plan is to provide a framework for the Town to expend <br />funds on affordable housing. The current AHTF balance of $261,391.75 reflects revenue generated <br />through the actions of the CPDC, as well as proceeds from the loss of an affordable unit. There are no <br />Town tax generated funds in the AHTF. The only expenditure to date from the AHTF, in the amount of <br />$200,000, was to assist Oaktree development with financing affordable housing at 30 Haven Street. <br />At the 2012 Annual Town Meeting, approval was given for funding to hire a consultant to assist a staff <br />initiative to update the Town's Housing Plan, including the five-year "Housing Production Plan". This effort <br />is important as a defense against unfriendly 40B developments in the community, and requires the Town <br />to develop a phased plan to produce housing to reach the 10% threshold as required by MGL Ch. 40B. <br />Reading's Housing Production Plan has been approved by the Board of Selectmen and by the <br />Commonwealth of Massachusetts. <br />The Town commissioned and received a supplemental report on how the AHTF can best be used to support <br />the "Planned Production" goals of the Housing Plan. This report was received in late winter 2012, and a <br />presentation was made in April of 2013 to the Board of Selectmen and the Reading Housing Authority. The <br />report recommends a significant restructuring of the Town's AHTF efforts. The Board of Selectmen <br />considered these recommendations two years ago, but decided against any changes. Therefore, the <br />current recommendation is to adopt the AHTF Allocation Plan as shown below as the framework for the <br />use of Affordable Housing Trust Fund in FY2017. <br />Note that Reading as lead community is part of a regional effort (along with North Reading, Wilmington <br />and Saugus) to share a Regional Housing Services Office (RHSO). The RHSO monitors and administers <br />
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