Welcome to our January 1st meeting of 2026. Uh we have an exciting agenda. Thank you uh those of us joining us uh in the audience. Um we have a a good uh
good attendance here. Uh unfortunately we we do not have quorum yet which may uh limit our capacity to will limit our capacity to take action. Uh however this meeting will nevertheless be recorded
and we will be able to ask questions and and and get key presentations and so uh we will proceed hoping to uh fulfill our quorum uh shortly. Uh yes, I've just gotten an email. We will
have quorum in 10 minutes. Um so I wonder what is the um best way to use our time before we um uh before we we jump in. Um, let me
ask if there is any public comment that is not associated with an item on the agenda this evening. In in that case, please raise your hand so that we can hear from you at this time.
So, I'm I'm taking the uh the the the the non-answers to mean that um everyone here in the audience is here to listen. And if you're here to make public comment, it's going to be related to an item on our agenda. And so, um
let me go ahead and introduce our agenda. We are very pleased to be hearing about a new project for the first time. As uh our uh trust knows and uh many of you in the audience will know, the trust
a little over a year ago adopted a strategy to support the construction of 500 affordable units including units for uh ownership in the next five years. So I guess about you know in the next three and a half years from now. And so we're we're very
pleased to be hearing from projects that are positioned to potentially move us towards our objective. I um I I think I'd like to go ahead and um because we're we'll save approving
minutes for the end of the meeting when we have our quorum. I'd like to uh suggest we go ahead and and welcome our first presenter, Greg uh uh Darcy Jameson from uh Beacon Communities, who is going to be telling us about a
project that Beacon has been working on with the town and is here to tell the trust about their vision for a project that would add a considerable number of affordable units to the housing stock of
Amherst. Darcy, welcome. Um, as as you heard, we're we're missing um one of our members who is uh going to be with us very shortly. U but I wonder if uh you might introduce yourself. Um and
hopefully Allegro will join by the time you'd be ready to start your presentation. >> Yeah, perfect. Um hi um Mr. Chair and members of the Affordable Housing Trust. I'm Darcy Jameson. I'm vice president of development for Beacon Communities
Development. We're a Boston-based affordable housing developer and have done work in Amoris which I'll talk a little bit more about in my presentation tonight and really excited to be here. Um I do have some slides when we're ready and I'll kind of Yeah, let's let's
make sure that we've got uh the technology working for for us. Uh Darcy, so why don't you go ahead and see if um you can uh open your slides and they're presenting. All right. >> It's that. >> Yes.
>> Uh do you want to try? Yeah. Perfect. Um well um I I I'd like to suggest that we um kind of let you go ahead and get started because uh I know that the beginning of your presentation is
telling us about Beacon and the project's going to come a little later and Allegro will be with us uh shortly. >> Um okay, thank you so much. So as I said I'm Darcy Jameson with Beacon Communities Development. Um, Beacon is a
Massachusetts-based affordable housing developer, owner, and property manager with an over 40-year history. Um, we own over 20,000 apartments in 135 communities throughout the Northeast and Mid-Atlantic, the majority of which are
affordable, deeply subsidized um, housing, including a full resident services and community engagement team to support residents in our communities. Um, Beacon has a very long and successful track record creating and
preserving affordable housing throughout the Commonwealth. We started working in Western Mass several decades ago as a developer partner to help address the need for affordable housing. About 20 years ago, I led a development project in East Hampton, Mass to create
community for seniors and families adopting children from the public foster care system, a complicated site with wetlands and other natural resources and ultimately a very successful residential community. Around the same time, we began our relationship as an active
partner in Ammerst, working with Hampshire College and the town on a livele learn housing project that ultimately actually didn't move forward due to the 2008 economic climate. Um, we acquired and preserved the affordability at the Rolling Green Apartments. And
about 10 years ago, as many of you know, we started working with the town of Amherst to help them implement the North Ammeris community plan through a collaborative comprehensive permit to create a new town center with more sustainably designed market rate and affordable housing and retail that
culminated with the completion of North Square at the Mill District. Um, since then we've been an active partner in the community and sort of consistently looking for new opportunities to create affordable housing in Amoris. It's
tough. It's become really increasingly challenging to find sites that provide an opportunity to create a meaningful number of affordable housing housing apartments um given the extensive need. Um, and I feel like just about every
site that you look at at this point has some considerations, constraints, some challenges. Um, just going to show, let's see, let me get over to here. A couple more. These are just a few images of our work. This is North Square. This is the Ames
shovel factory that we preserved and um, did a historic renovation of down in Eastern Mass. This is Rolling Green. Um we really pride ourselves on our interior spaces. These are affordable um
apartments and spaces in those buildings. Um and we also really pride ourselves on the amenity space that we provide for our the residents of our communities. Um, so, so I'm here specifically tonight to
share our concept for expanding the vision that began at North Square and which we think is consistent with many of the goals set forth um, in the recently adopted housing production plan and that we've heard from many throughout the community. Um, this is a
preliminary concept based on studying the site with our technical consultants, our civil engineers, our wetland specialists. Um, and I say that because even though I know tonight's not, you know, a regulatory type evening, it's I think it is important for folks to know
that we have had um a technical team involved with us helping us, you know, understand the site. Um, we understand that the neighborhood has many thoughtful questions with the which they many of which they've shared with us. um and that there will be processes and
more conversations and regulatory oversight where those questions will be addressed in addition to our sort of ongoing more direct dialogue and we really look forward to addressing those. Um the focus of tonight is really for us to continue what we've been doing and
which is in smaller groups of community members or boards or trusts or commissions starting to share our concept and getting some feedback while we listen and think about what's next. Um so
um are my slides changing? >> Yes. No, perfectly. >> Okay, perfect. Um so um just for context, North Square at the Mill District is located here and you have Sunderland Road and Montigue Road
running to the north. The site that we are looking at, if you're traveling north on Montigue, you pass Ball Lane. Um the next road is Pulpit Hill and this site is located to the left. um
which you see out here outlined here basically in the w the white line. Um so the site that we're looking at is about 14 acres. We would propose to be using the existing entrance off of
Montigue Road um and looking at the construction of 140 to 150 family and senior apartments, parking and resident amenities consistent with sort of what I just showed you probably playground,
community gardens, etc. Again, not all fully planned, but it would be generally what we normally build and bring into a community. Um and then also in collaboration with the town and presumably the state um um talking about
the opportunity for how to bring a sewer extension from Ball Lane to the property, new sidewalk to create pedestrian connectivity and safety and also traffic calming. um that is
something that we've heard broadly is important to the community and this site is currently not served by sewer. So that would be something that we would be working and have been discussing with the planning team collaboratively um in order to um effectuate this project. Um
it would be all electric passive house. Um we've you know had very preliminary conversations trying to start to gauge some of are there any concerns about sewer or water capacity once we have it all there etc. Certainly many things that we would need to work through and
we would be doing that. Um but nothing of note so far has has come to our attention. Um, in terms of the unit mix, we're proposing a mix of 80 to 85 1 and twobedroom apartments set aside for
seniors. That would be 55 plus um family. And what family means is really just not age restricted. So, um 60 to 65 apartments, 1, 2, and three bedrooms. um they would be all um affordable under the low-income
housing tax credit program, but under that program, you can do something called income averaging, which lets you set aside some of the apartments for households up to 80% of the area median income, just giving us a little more room to serve a broader range. Um and
then also as required and as we always like to do setting aside some apartments with for deeper affordability. Not going to spend too much time on the charts. I think most people are familiar with the parameters of the tax credit
program. Um let's see. I'm just looking at my notes to make sure I don't miss anything. Um so one of the questions that has come up is why an inter sort of an intergenerational community senior and family. Um I think a couple of reasons.
One um we've heard in the town of Ammerst that there are people that are aging and really want to stay in the community. So um but maybe not have the burden of a large house and all the maintenance that goes with that. So the senior component would be a nod towards
that. And then again just um working individuals and families who are looking for affordable opportunities in the community. Um the other thing is as you all know the financing for affordable housing communities is incredibly
competitive and we think that this senior family concept would be really appealing to the state and put us in a very um competitive position um to be able to garner the resources to bring this housing into the community from the
state. Um let's see. So um in terms of anticipated financing, so this would I think be what I would consider sort of a traditional capital
stack to build affordable housing, which would be a mix of federal 4% and 9% um low-income housing tax credits that are allocated through the executive office of housing and living livable communities. I still have trouble with
that one. um soft loans from the state which we would apply through the financing application and as you know the state requires that that comes with um the concept is matching funds. It's not exactly a one-toone match but um a
meaningful contribution >> if I can inter interrupt you and and just because um I'm glad to see Algra uh here with us. I wonder if you could just go back three slides to the start of this project just so that um so that we
we all who are um on the trust here can can visualize this. Um I have a question about the right place. >> Yeah. Perfect. >> Okay. So um Algra, I can't see you, but hello. Welcome. This is um where North
Square at the Mill District is located. Sunderland Road running um to the north and Montigue Road running to the north. So the site is about 14 acres and located to the west of Route 63 or Montigue Road. Um what we are studying
is the possibility of um on this 14 acre site 140 to 150 apartments, combination of senior and non-age restricted apartments. um resident amenities, gardens, walking
trails, a play area, a dog park, passive house, all electric. I think that's sort of high level. Um again, senior and family serving a range of um income levels. And what I had also
said is we've heard about the need for both senior housing in the community and also just more broadly um and think that that combination would be a very competitive and appealing um housing model in the community, a nice intergenerational community and also
competitive at the state level which is important. Um oops back of the envelope maybe a little bit more. We would estimate probably the housing total development cost between 90 and hundred million. You know, those are very big numbers. It's unfortunately
what it costs to develop these days. Um, in terms of a schedule, we would anticipate working through our permitting in 2026 and 2027, a state financing application in early
2028, which would need to come with a commitment letter from whether it's the trust or CPA or some combination of town funds for that competitive application with a target of closing and starting construction in
late 2028. So, what would the ask be to the trust? Um, we'd want to work closely with the trust and the town administration and other bodies that have resources. I would anticipate somewhere in the
range of $2 million. I know that's also a big number. Um, but when the state looks at the resources that they would be putting in, which would be basically the balance of that, um, other than that $2 million, I think that would be where
they'd look to us for a commitment. Um, th those funds would need to be firmly committed when we apply for funding in early 2028. from our perspective, we'd need to know a bit earlier that those
resources were available in order for us to be able to keep going. Um, but they don't have to be available the day we close. There is some and we've talked with the town and they suggested that I talk a little bit about this. There would be some flexibility for those
funds to be possibly still coming into the various um coffers within the town so long as that the funds have been committed and the timing is committed.
So, I'm going to stop there, I think. Um hopefully that's given everyone sort of a general overview and and as I said we're very much in the listening mode. Um this is our concept and we're curious what
everyone's thoughts are and >> wonderful. Thank you so much for your presentation Darcy. So, uh, trust members, you know, we're we're here to make sense of this project on our own terms and, um, also as Darcy said to
give shape where that's, um, the kind of vision that we would like to contribute to the project. So, um, let's, uh, let's open the floor for questions. >> Algra, please. Um, hi, thank you for coming to present
tonight. Um, and I apologize for being a little bit late. Um, I guess in terms I have a few questions because obviously North Ammerst is an area where there's some development but not necessarily to this scale and I have heard concerns
from some residents about density especially kind of in the wake of a recent fire that we had nearby where there was kind of a similarly dense um environment. So I guess my question
are first of all are are we still in the phase of you know doing all the research to make sure there's not wetlands impacts and things like that because I I think that that had been something that I had potentially heard might be a
barrier to this project and and I know there were two parcels of land in North Ammer so I don't if I'm mixing them up please forgive Um and then kind of what any improvements to infrastructure would be like to make sure that there are safe
response times in terms of you know if if the fire load there is going to be so much greater than it would be as kind of open farmland at this point. So those are my two questions. >> Yeah. Would you like me to respond as well?
>> Please go Darcy by all means. >> Yeah. So this is algger this thank you for your questions. This is early stage but we have done a lot of work studying the site. We've delineated the wetlands. We do have a very good understanding of the natural resources on the site. Um we
would be designing the project to be in compliance with you know responsible development and in compliance with state and local regulations. um uh and possibly with you know some conversations with the conservation commission and the town if there does
need to be some flexibility. But the goal is to respect the wetlands and the natural resources um with a responsible project and we would work through all of the details um and continue to work with the conservation commission and town boards.
Um in terms of infrastructure um again as part of the whole review and regulatory process we will be refining that um in our preliminary conversations with the town. There's nothing that's been raised as a
major concern around infrastructure. Um there will be questions. There will be things we want to talk through and look at. Um but there is water service to the site. We're looking at how we would bring sewer. Um the town is starting
conversations with the state to really explore sort of sewer sidewalk traffic calming. Um so although this is about this housing project, we have started conversations with the town and they're having larger
conversations to think about the overall um challenges and opportunities of a new project in this part of the community but a long way to go. Um but we have
been studying the site. Um we have a strong civil engineering team, a strong wetlands team. um and would really bring bring all that expertise to bear. >> Leger, did that that address your question about the the fire con, you
know, the fire issue? >> Yeah, I think so. I mean, I think because I I recall some development talk a little bit farther up in that area that there was concern about sewer and certain things not running all the way
up there. So I guess that you know that plus then some of the added anxiety from this recent fire and you know the the idea of density being different. Um so thank you. >> Okay, Alex.
>> Thank you. Thank you, Miss Jameson, for being here tonight and for the work that you've put into this project so far. Um, I would love if you could tell us a little bit more about the low-income housing tax credit and the sun setting on the affordability for that. What is
the time frame of this is remaining a fully affordable project and is there a point at which that transitions out? >> Um, there doesn't have to be a point at which it transitions out. Um so the
state requires um depending on a few factors somewhere between 30 and 45 years. Um at North Square under the zoning we committed to in perpetuity on the affordability. Um so that would be something that we would be open to
talking through with the community. Um I think we're affordable housing developers. That's our mission. Um, our goal is to help you meet your goals in the community. So, happy to have that conversation. >> Great. Thank you.
>> Thank you, HJ. >> Hi there. Um, thank you for for walking us through the the the concept. I think it's a it's a great one. I do love um visiting uh North Square. There's some quite quite a few nice shops there um at the um which
actually kind of inspired some of this this one question. I don't actually recall did did you mention anything about commercial space or anything like that with this new project? I I don't recall that one. >> No. Um given just that we've got North Square with the commercial and retail
there. Um the goal here would be 100% residential, just bringing more housing into the area to create the housing resource and sort of support that village concept idea that we helped the community get started.
>> And thank you for the positive comments. I I personally worked on North Square from beginning to end, so it means a lot to me. I I guess that I mean I'm trying trying to think through and then the followup question maybe is just like I I think I think housing is is good the
community communal I I know there were a couple things that were mentioned about like not just the housing but like also like the area walking paths and parks uh of that elk that that's also being thought of. Um and I I do agree. I think that the synergy especially considering the the proximity to North Square makes
a lot of sense for the commercial aspect of it and I don't have a great idea but just making sure like conceptually how you expect the people traffic to kind of move if the concept is to make that area be like the the the next sort of town
square. um how that all kind of interplays maybe is a little bit more of a a concept that could be honed in uh and then presented and that could really help. Um >> yeah, so let me I'm going to pull up a slide. Um >> perfect.
>> And just I guess maybe a slight clarification. Um the the goal here is that we would build um a private residential development of 140 to 150 apartment with resident amenities.
um and create the connectivity in collaboration with the town by in terms of the pedestrian concept by bringing a new sidewalk to meet where the sidewalk ends here just just past Pulpit Hill.
And so the goal would be that we create that connectivity through a sidewalk so pedestrians, bicyclists could move between the two areas. Um, so it's not I guess I wouldn't say it's a new town center. It's it's additional residential
apartments to support and augment the existing North Square at the Mill District and other local businesses. Does that make sense? >> It it it does. Yeah. And I'm I I understand I understand the vision here um as you're presenting it. So maybe
I'll leave room for other people to ask questions. Good. And uh just along the lines of the comment on the sidewalk, there's a bus stop, I guess, an existing bus stop right right there as as well, Alex. >> Yeah, certainly. I don't need an answer
for this tonight, although if you have one, I'd love to hear, but I'm interested in the number of parking spaces that go along with this. I understand, especially with the senior living component, it is necessary to have on-site parking. Um, but at some point if we could get more of a
breakdown of where that estimate is coming from and if there are ways to to bring that down or lessen the like storm water impact of that would be appreciative. >> Yeah, I'll I'll touch on it. Um, so I think we would,
um, as much as there is some transitoriented opportunity here, um, we own and manage quite a bit in Western Mass in the Pioneer Valley. And what we've learned is people have cars, um, and they want
to be able to have cars. Um, we have preliminarily programmed this in about one and a half spaces per apartment. Um, we'll continue to refine that, but from a marketability standpoint and the
success of a community, um, I love the goal of reducing parking, but we also understand the reality that living in New England, people do, you know, have cars and rely on them, seniors, families with kids that they're trying to move around to places. Um and just to touch
on the storm water um as I mentioned we will have we have a civil engineering team on board. We will be designing to you know all federal state um storm water requirements and have a system in place that manages storm water
you know no runoff to wetlands. I mean really that will be part of when if we really if we go forward and we really dig into this that is the crux of what we will be focusing on is is designing a site that that manages the storm water
and respects the natural resources. Um my question is less about um the physical structure and more about the process just so just knowing how uh you know we had talked about how um this would be a big change to the to
what North Amoris would look like and feel like to some people particularly the people in the area. So I'm just and I'm kind of new to all this. So I'm just wondering what is your process for both, you know, like listening and also educating the people in the area. How
does how does that work? Just not that not that that's not necessarily going to solve things, but just instead of um you know um in involving them or understanding, I guess um the way this would change things. And I know like the
structural things I know are are a challenge enough, but obviously this would be a big change for people. So, um, >> it's a decision being made by not just the neighbors. So, anyway, go ahead. Sorry. >> Yeah. No, thanks Carla. That's a good question. And >> continuing conversations with the
neighborhood and the community is incredibly important to us. We're very much in a listening mode right now. Um, we haven't sort of done the next round of going back to talk to people quite yet because we wanted to have an opportunity to to get input from the trust and conservation commission and
talk to some different um community members. Um, so we're doing that now. And I think and I'm not sure if I said this, I know it's in my slides, but but we would approach this as a comprehensive permit um under chapter
40B. So I wanted to just make sure I said that. clearly um in order to approach it. And that will involve, you know, continuing the community dialogue both in smaller groups and in larger community meetings, hearing people's
concerns, educating them about what what we can do, maybe what we can't do, what we can consider, and sort of really kind of looking at that whole framework. um and hoping that we could move towards something that satisfies the goal of
creating affordable housing, sort of what we're up against in terms of putting together a financially feasible project. um and acknowledging and understanding that this would be new and a change in North Ammerst >> and and uh in point of fact just to
recognize it Carla you know this is this meeting tonight is I think responsive to your question and and uh members of the audience will will have a chance to um express public comment um as as well. Um
I have a a question. I I hadn't noticed um Darcy when when we spoke earlier that this is actually at the passive house standard. So even a tighter standard than lead. >> Yes. Yeah. I want maybe maybe you you know I know about this from uh but I
wonder if you could share with us what the passive house standard entails. Um and also curious >> how you justify the higher expense. pleased about it, but I wonder if you could give us a little window into that.
>> Yeah, passive house is so exciting. Everything that um we're building these days is passive house, which really starts with f it's a bu it's really building science. It really starts with focusing on the building envelope to make sure it's as tight as possible. um
energy efficient um mechanical and electrical systems that are high efficiency all electric trying to get off of fossil fuels um in this case this would be an all electric building um and have a solar component to create a
renewable component. Um so as a as a developer we're committed to that um both sort of affordability and sustainable design and green building. Um, in terms of justifying the costs, I
think there is some added premium, but not like it used to be because this is starting to become more mainstream and the state also requires that buildings are passive house all electric and also meet the enterprise green
criteria. Um, so when we submit for a financing application, they are looking to see that we've met those thresholds. Um, and they've been supportive as an administration of bringing more resources to bear because they've
requested that we help move the Commonwealth towards net zero, you know, lower carbon footprint. >> Okay. Very exciting. Um members, uh do you have other questions or do you want to give any um you know your your
personal feedback here? Uh Lgra, please. >> Um two things. One, are the slides going to be made available? Just um I don't want to ask you to rehash your whole presentation, but I also wasn't sure if the projected affordability breakdown
was included in the slides that I missed. So, if they are going to be available and I could just get a copy of them, that would be great. >> Um, I'll just show you this slide quickly, but yeah, and yes, they um I can make them available to Greg and he
can he can distribute them, but these are charts that um are readily available and you've probably seen things that are similar that just show the different AMIs and um anticipated rent levels. Um we for the under 30% AMI apartments we would be
applying to the state for project based vouchers to support the households in those apartments. >> So those would be income based like 30% of that those incomes. >> Yes. >> Okay. Um,
and I I you know, I do appreciate that there's a conversation happening about change being hard. Um, I know that that has come up with people that I've spoken with about it. Um, and you know, I think having these conversations can be
difficult, but I also think looking at East Gables as kind of an example of where there was a lot of community engagement and at first it was not necessarily supportive of a project, but having
those discussions helped move some of the neighbors to yes, if that um is the way that this project goes. um based on everything that still has to be determined, you know, I think I think it would mean a lot to the community to have the opportunity to
have their questions answered and have their concerns heard. So, thank you. >> Yes. >> Thank you, Algra. Carla, >> um this is not a question. I just had a comment that I'm I'm glad that it makes it more um
attractive to the state, but I do like the mixed generational aspect of this project as well. I think that's beneficial for so many reasons. But um and it's I mean it's bonus that it will actually make it like you said um more appealing
>> um when the state is reviewing projects. But yeah, I think that's that's definitely a a positive. >> Thank you. other other feedback or or reactions that members would like to give at this time. >> Just one. Oh, sorry.
>> Go ahead, TJ. Go ahead. >> Yeah, I think I think just mobility. I think I know there's a bus stop there. Um, but I do worry about like things being in proximity, especially for seniors, because it it is a lot difficult. We can't I know I know we all
all of us in Western Mass are really dependent on our cars but there there are there are things that I am concerned about just making sure that we we are able to provide other than just housing if there is a way to kind of highlight those uh in the projects and and what what synergies that we could apply
especially with North Square being where it is I think >> like a a CVS and a place where a nurse can check you out >> grocery store. Have you heard that one before? Yeah. >> Uh, Alex, uh, I just wanted to thank you again for
your time and your commitment to North Ammerst in general and a thank you for coming and speaking with us early in this process. It's much appreciated, especially as we think about our own capital planning. That's a discussion that we've been having and is ongoing and it's very helpful to know about what
the ask is going to be and roughly when we're expecting it. So, thank you. >> You're my pleasure. Thank you for welcoming me here. >> Sorry, I just one other thing. You know, we used to have in the mill district, there used to be Atkins kittens that
closed before the um pandemic, but it is closeish to the survival center for people who might be depending on something like that for some resources. So I think
you know unless there's going to be a lot more building in North Ammerst or something returns to the mill district that is a grocery store um that's I know provisions is there but that's not like a full service grocery store. It's much
more particular. So you know I think perhaps perhaps that's a place that outreach could be done. Perhaps there could be a listening session at the survival center. >> Yeah. >> Um because I think too then you kind of
get to see like oh well it is it it might not be walkable but does will the bus get somebody here? Oh no how can we figure things like that out? Um just to kind of have those um like actual on the ground
>> spatial awareness type things. Um, but it I I mean it is I know there's traffic impacts that people have been concerned about as well. Um, with that one intersection being quite a nightmare at certain times of day like 8:15 this morning.
But, um, so those are just, you know, I think ideally it would be nice to get around on bus and it's not always going to be doable for people. Um, but there are there are some resources,
not all resources in North Ammerst. So, I think I'm talking in circles at this point, but that was just a thought that came in is like can can >> we love to see grocery store it was it was unfortunate when Atkins left. Um, >> I will say one thing that helps grocery
stores come into areas is density. Um, so I know I understand that's a double-edged sword. Um >> um and Algra, if I can try to um kind of restate what you said in different language, it's um that
getting into this dance with the community is going to will produce a greater work. Um that it's uh there's a lot of uh movements to the dance to to get this right. Um and and uh I guess we're we're honored that the first uh
public movement of sorts is is here. And on that note, you know, we had scheduled public comment for the end of the meeting, but uh if there aren't too many hands that want to give a short less
than twominut comment on this project, then maybe we can do it now. Could those of you in the audience who would like to give comment on this project? I see one hand. Could you raise your hand now so that we can gauge if we
can do this at this time. Okay. I'm I'm seeing three hands and um though we have a full agenda. Four hands on uh four hands. Um I I'd like to um Greg, what
what do you think? Shall we go ahead and and kind of connect the comments directly to this presentation? >> Um, sure. I think at four, and hopefully my sound's okay now. I think at four, uh, with a two-minute cap, I think, uh, that can work.
>> Okay, good. So, uh, we will, um, so, uh, Greg, you can, um, uh, uh, start giving the the folks voice. I just want to remind the audience that, you know, the trust is not, we're not the ZBA, we're not a regulatory body. We're here to promote the development of affordable
housing and make good judgment calls about the the resources that we have and that we're able to uh pull together. So, bearing that in mind, um uh let's uh start the the public comment. >> All right. And I'm just going to go uh down the way that I I see them in order
of my screen here. The first is uh is Laura Baker. and and Laura, I'm going to give you the uh allow to talk function, so look out for >> Okay, how's that? >> Great. Go ahead. >> Okay, thanks. Um my name is Laura Baker. I work at Valley CDC in Northampton. Um
I had a couple comments. One is I'm excited to see a kind of all affordable housing project uh being proposed. Um I think it's a good complement to North Square, which seems to be more focused on market rate and potentially student housing. And so this is something
different and I think highly needed. Um and then I just had a thought to throw out there for Darcy. Uh we just did our first Hi. We just did our first uh geothermal project combined with PV solar all electric building. Um, and
given the amount of acreage and the scale of the project and the fact that you're going all electric, just throw it out there as something that your civil uh, and you know, MEP team might might want to think about um, for this project. >> That's it. Thanks. Thank you, Darcy.
>> Yeah. >> Thank you. And thank you for your good work as well. >> Geothermal is great if you can pull it off. Okay, Greg. Thank you. >> Oh, okay. Um, and I'm gonna go to Robin Jaffin.
>> Hey there. Can you hear me? >> Yes. >> Go ahead, Robin. >> Hey there. Hi, Darcy. >> Hi, Robin. >> Thank you for the presentation. And so I represent um a group of abutters in North Ammerst residents who
have been watching this development occur over the last several months. And Darcy was kind enough to meet with several of us back in I think it was December maybe. Um, and we submitted a
set of questions that you all can access on the Ammerst Indie that the residents of North Ammerst have submitted to the to Beacon. Um, we were hoping that they would be able to respond to them prior to this conversation tonight so that you
would have those answers um in in hand. But I do hope that Beacon will be able to answer them because the community at large, I think, benefits from being able to have these questions answered as a
part of all of the your conversations and all of the other commissions the um as they as they start to consider because we like to feed into that. Um, and I think it's probably pretty clear what are the abutters and the immediate
community feel about the initial um plans for the Mitchell site. Uh we are absolutely in support of affordable housing. We have very significant concerns that are
representative in those questions. So please, again, I'm going to ask you to go to the Amoris Indie. You can just look up my name if you want, Robin Jaffin. You will see all of those questions. I'm also more than happy to send them to you. We spent a lot of time
uh pulling them together. There are additional questions I think that the community should be asked to submit about this. Um those of us who live in North Ammerst are significantly impacted by a development of this size. Um and
the immediate abutters are also very concerned about the impact of um a fourstory or even threestory development of this size happening next door. So I'm
going to leave it at that. I do appreciate um Darcy being so open and willing to communicate with us and began willing to work with the community on this. But we are counting also on
um the House Trust to recognize um and to work with the North Amoris community on making sure that affordable housing also works for the communities and the neighborhoods that
it uh ends up being uh placed in. So thank you. >> Okay. Thank you, Robin. So an important comment and I think uh the the trust uh listened carefully. Um let's go to the next comment and and uh please you know try to be uh as concise as you can.
Thank you so much. >> Hi I have I've been I think I'm in the room. My I'm Kathy >> Shane Kathy. Yes. I'm Kathy Shane and I'm here tonight. I am District 1 counselor for this part of the town, but I also live about a mile away from where
this would go. So, I I know this area well. I just I have three more general questions. And Laura, uh Darcy, you don't need to necessarily answer them tonight, but um you've talked about the state being willing to come in for the
sewer part of it. Um sewer and sidewalk. Both of those are big expenses. So would the project be be contingent on getting that state support. So just like we wouldn't necessarily be able to move forward without it. Um they're on se people are on septic now just so people
know that you know we're we are rural up in this part. So that's number one. Number two, the intersection that Algra just uh talked about which is always been a nightmare. The state at one point had said, "We just don't have enough
traffic yet for them to give us um a big grant to fix it. We have some ideas of how to fix it." Do you have any sense of whether a project like this might help us secure that additional state intersection money out of a mass works grants?
Uh third, um uh when uh Mr. Kim was asking about where you can walk to. Um, if the first picture you showed showed that it it's conceivable you could have a path to the middle district right from
this property if if it it has to go through other land to get to it, but the property is also up on a hill. So for seniors to get down to the sidewalk that have to walk down the hill. So, just some thought of how would you get down the hill? Um, other than drive your car,
you know, walk on the same driveway that the cars go up and down. It's it's not a mountain, but it it's a hill. And then the last, but I maybe I should ask it first. You've shown a kind of a design a possible what this might look like. So,
just thinking in terms of are there different ways of arranging the massing so it doesn't if it has to be four stories, it doesn't look so large. If you look at an applewood, which is kind of on a curve, you don't you don't see one big mass of a building. You see
pieces of it until you depending on where you are. So, just as you're thinking this through, those are my comments with the first being would this be a yes or no go on the sewer sidewalk part of it because it's a pretty expensive proposition. Um, thank you.
>> Thank you, counselor. Would you, you know, I know this isn't intended to be super back and forth, but it would be helpful if I just touched on these um without committing to anything. I'm just, you know, sharing my reaction. I think it would be. So, Kathy, nice to
see you and thank you for being here. Um so yes the pro just to say clearly yes this project would be contingent on the town's success working with the state either through housing works or mass works to bring in a grant for or funds
to extend the sewer sidewalk and they'd like to also do some traffic coming. So conceptually that is what the town is starting to think about. um if and and we would need for this project to be able to move
forward and those trains would have to come to the station at roughly the same time. Um, I don't know the answer to your question about whether or not this project as it's currently contemplated or in some other version of it would be
enough traffic, added traffic to create, you know, the congestion needed to really trigger state resources for that intersection. So, I don't know the answer to that. If if we collectively agree on a project that we're all
excited about, these are the types of things that we will start to chase down with traffic studies and working in collaboration to to help effectuate. Um I mean I've sat at that intersection. I I know what you're talking about. Um,
and you know, I think as again, we haven't designed the whole project, but I think conceptually we would want to have a sidewalk from the building down to the road so that you could then connect to the sidewalk and make your walk to um to
wherever you would like to go, specifically maybe the mill district. Um and in terms of the massing certainly we haven't designed the buildings yes and um you know height is height um but we certainly would be looking to figure out how we break that
massing up with you know an architecture that's consistent with the rural character um and hopefully aesthetically appealing. So, lot of yeses and agree on the good questions and things that we would want to be working through
closely with everyone. >> Well, uh I'd like to thank the members of the community who took the time to come to the meeting and and offer such helpful uh comments and questions and um and to you Darcy for for uh giving the the responses that you could at this
time. >> Sure. Uh so I think that that wraps up this uh you know important kickoff to our meeting. Thank you so much for joining us. >> Thank you everyone and we'll we'll be back in touch. >> Okay. Excellent. Looking forward.
>> Thank you all. Good night. >> Good night. All right. Um uh good. Thank you everyone. So, uh, we have another important project, uh, more immediate, um, development project before us next.
And I will let uh Greg take it away because as you'll all recall at our last meeting, Alex had the very um valuable suggestion to uh give a mandate to Greg to come back and and make a proposal to
structure how we will think about uh making a commitment to the uh Amity Street project being uh developed and pushed forward by the Amoris Community Land Trust. >> Okay.
Um so, um I think I'll just go ahead and share my screen in a moment, but you all had a memo in your packet, uh sent out last week, um which has just been slightly adjusted. Um uh and um uh yeah and I think um but the basic uh
proposal um you know or recommendation I like to make to the trust is that um we uh seek to to make um an equity investment work uh in the Ammeris community land trust project. Um and that we not act as a primary lender after some discussion with town council
and sort of other teammates in the town and also with ACLT. I think uh that's kind of the cleanest way to move forward right now. So um what um I am proposing here is kind of a two-step process and the idea being that um hopefully step
one is uh some more modest objectives uh which are hopefully achievable in the near term uh such that um uh ACLT could uh if if meeting those objectives they could then you know have a formal commitment from the trust um and then uh
sort of use that commitment to in turn attract other funders um and a lender Uh and then some more uh sophisticated sort of in the weed stuff which would come at the juncture of fund dispersal um you know closer to when a deal would close uh you know when we get closer to uh you
know a construction acquisition and construction. So I'll just share my screen at this point. But conceptually, does that basic framework make sense here? Any um great. So I will go to
uh this one. Um hopefully you're seeing that memo. I can zoom in on that. Um can folks see the memo? >> Yeah. >> Okay. Um so and I think it's also on page. Um so yeah so I think probably the
um the way to go over this is is simply to uh you know probably spend a little more effort on and cross discussion on the the the first set of items and how we want to treat these um you know perhaps you know add or subtract and of course we we are also joined tonight um
and oh and I'll maybe promote um Linda um to a panelist um because I'd like to hear uh uh from Linda as a representative of the ACLT you know, how uh how they feel about these items. And uh Linda received this list as well last week. Um and I'm
promoting you to a panelist right now, Linda. So, look out for a an invite. Um but let's kind of go through uh the basics here. Um so um you know most uh significantly probably um you know I think uh an important item here before
we get too far down the road beyond where we are now is enforceable site control documentation in the form of a purchase option or purchase and sale agreement uh or the like. Um right now we have a letter uh which you all have. It's been our packet a couple months
ago. uh we have a letter um from the the current owner of the property uh indicating their um you know their willingness to sell at a certain price. Um we just version of that um you know which is an enforceable contract um so
we can you know sort of point to uh you know that as a um you know as as actual site control in a legal sense. Um the uh you know the second sort of basic u you know thing you know we'd like to see is
some initial outreach um around a loan um you know so because we're not going to be acting as the primary lender um ACLT we need to go find another lender for a construction loan um and uh so obviously
it'll take a commitment of equity in order to actually get that loan in place um but we'd like to see some you know what that plan as you know for uh the outreach to prospective lenders. Um uh completed phase one environmental assessment uh without um any any serious
concerns or oh my screen just right blanked here. >> Okay. >> Can you still see? >> Yeah, we're back. >> Happens. All right. Sorry about that. >> Greg, if if I can just ask a question to just make sure that >> Sure.
>> we're all interpreting it the right way. I understand that the suggestion is that we would make a commitment to fund equity and that but that funding
commitment would only be dispersed when these conditions are satisfied. Is that do I have it right? >> So and uh not quite. Um so um the um the commitment would become real, right? And we we could choose to vote tonight or I would rather you all could choose to
vote tonight um and empower me to you know to be the you know the the auditor of these items. Um and that and that would in turn activate a formal commitment of the trust you know or we could wait until these all are in place uh and then vote at that time. Um actual
dispersal of funds um would come uh would come later on with a more substantial number of you know of things probably most significantly including uh a commitment from a lender and uh a commitment from other equity sources um likely including uh the the CPA
committee or you know or similar. Um so this would just be sort of for us to commit uh you know you know for um you know for a you know a period of time that you know we can assign capital to this project um but not actually disperse the funds until later.
>> Okay. >> Um got it. So yeah, so a phase one environmental assessment um uh with making hopefully no uh major concerns uh and if so we'd probably have to revisit it um depending on what they were and
what the plan was. Um we'd like to see uh an attorney signed on formally to the development team um so we can kind of uh anticipate hiccups and the legal sense from both our perspective and from ACLT's perspective and the seller for that matter. Um, we'd like to see uh a
sort of uh some a written draft, you know, and it can be in draft form, but of you know, what the sort of ACLT organizational policy is around um sort of ongoing capital investment and maintenance uh you know, things like um
and also condo fees um you know, and and what their you know, outyear plan is for preparations for resale. you know, we want to make sure that we anticipate uh sort of, you know, the you know, the long-term um maintenance and you know,
and sustainability of of this effort beyond just the the construction phase, but envisioning the second round of families, which could be well down the line. Um but we do know that not thinking about capital investment cleanly up front can cause problems
later. um a tweak to the proform so we understand uh um you know condo fees and how that might affect um you know in turn mortgages and in turn you know what kind of a loan ACLT could get um uh we
do not need to worry about renter relocation um that's that's something I confirmed with our uh the town council and then um you know and then initial plan for uh you know contractor ctor recruitment. Um, and you know, we're open to some
back and forth this. I'd say I'm open to some back and forth on this, but basically what the what the plan is to sign on a, you know, a contractor. Um, so maybe I'll just pause there, um, and see if there's, you know, questions about the sort of initial,
uh, this initial list here of, you know, what, um, you know, the sort of the initial commitment list here. And I'm going to refresh my screen. Maybe we can can you just show us the
next set of items so that we can put these in perspective on uh Greg because the that first list is in a sense kind of firming up our commitment but these
other things would have to happen before the the checks would get cut. Right. >> Yeah. the the second list would need to happen before before dispersal happens. And um you know and there's and our our list is you know relatively modest but I
would anticipate that it would uh line up uh with probably a more detailed list from a a construction lender and I'll let >> So the the way I think about it members is just is basically what do we want to
know before we kind of uh block these funds and and earmark these funds for this project. So, what do we want to have clear before we earmark these funds and consider that we don't have those funds to give to anybody else? That's
how I'm reading the first list. Does that seem a fair way to put it, Greg? >> Um, yeah, from our sort of internal accounting perspective. Yeah. Yeah, for sure. >> Okay. All right. Yeah. So, qu questions. Um, and please tell Greg if you'd like
to see that list on the screen again. Any any any questions? Does that um Okay, Linda, I'd like to Oh, yes. Good. Algra, please. Oh, I was just going to say from my recollection that seems to pretty
much hit everything that we had questions or concerns about last time, but I was actually interested to see if those seemed like reasonable targets for the land trust to hit. >> Okay.
Uh he Carla, Alex, any any questions for Greg now? Okay. So, uh Linda, thank you again for joining us. Good to see you. Um, so I I think Algra uh segueed perfectly to your um your your stage here.
>> Okay. Um, if if I have permission to share my screen, I I have a version of this with marginal comments so then people can see as well as hear the points that I would make. Um, so
>> you should be able to share, Linda. >> Yeah, there we go. All right. So, um I'm not seeing my own comments because that's where the thumbnails of the people are, but Oh, I can move those. Good. All right. So, the
enforcable site control um that uh that's not a problem. We're working on that. Um um we're getting our attorney um and also reminding Deborah Gross that the
family needs an attorney to just sort out whether purchase option or purchase and sale would be the best um tool. Uh but but that one's a given. We're certainly moving with that. And um I
take the second one to I had my marginal note there is please clarify the requirement. I uh I wasn't entirely sure of the level of detail or certainty there. I I took it to mean that the underlying concern is that in our
financing plan we posited a certain size of bridge loan and you want to see that some lender is at least willing to entertain uh that as an appropriate amount to lend us. Do I understand the requirement
correctly? >> Um yeah, if I could go ahead and respond, you know, my my um definition here, you know, I would say, you know, it' be good to know, you know, who who are the lenders, you you know, you you know, you hope to reach out to,
what are the initial meetings you've had? What's the broad framework you've received from them? you know the formal commitment will take time um beyond this time horizon but I think just sort of you know understanding you know who okay you know >> all right so the two lenders are five
UMass 5 uh and uh leap for which we are grateful for the introduction guest on >> that um we've had preliminary conversations with both of them um they both like the project um we haven't um
put we didn't have an amount in those conversations ations. The conversation with UMass 5 was a long time ago. Um but um I saved the correspondence from that so I know how to reach out and quickly and say we're ready to go ahead with a
conversation about how to actually proceed here. Um, so >> if I may, I see this >> we do have two uh plausible lenders. Um and we can uh again a little bit of uncertainty of just how far down the
road each of these needs to go to get to the commitment but we we have um made introductory presentations to both UMass 5 and leave u and been invited to continue the conversation in both cases.
Linda, I think the analogy here would be may maybe it's been a while since you you had a mortgage, but the difference between a pre-qualification and a commitment letter, >> right? >> The prequalification is not an enforcable contract, but it means like if the numbers, you know, if this is
what we find when we do our due diligence, we would lend. >> So, I think it's something along those lines. >> Okay. I'm I'm not sure. Um, I need to inform myself better about the actual timelines. In the conversation
with Mary Wong, um, she said that, um, it would take about six months from the initial application through all their stuff steps to the final approval. Um, I uh, I don't know if you really
>> No, no. The final approval would be the commitment letter. It's early on when >> you know if you know if the project if the numbers you're giving us are right >> then we would be able to lend so much it's it's that I think that's the kind
of thing is do I have that right Greg >> yeah I think it's some initial feedback on paper from you know from a couple lenders uh you know um you know an informal expression of interest you know some broad framework uh that and ideally that frame framework were to align with
what we have elsewhere in you know in your uh in your application to the trust. Just making sure making sure the math on you know conceptually lines up if if for maybe the best way to define this isn't you know is isn't negative.
if you know if somebody if a lender said yeah yeah we'd love to lend you know $200,000 to this that wouldn't work you know um you know so or we'd love to lend it with a max of you know a very modest number or whatever that might be a a
concern and not really count as as a um expression of interest but I think just um the broad strokes of you know of you know having you know not not a formal commitment but an initial agreement with a lender to to explore it and you know
and pursue it. Um and and some prospective um conceptual uh expression from a lender saying like yes like we we can see this working >> um before that formal commitment which would come much later obviously.
>> Okay. Thank you. >> Um com the phase one assessment has been in progress. I was just informed today that we can expect to see the report on Monday of next week. Um they had unfortunately no information
about no recognized environmental difficulties. So on Monday I'll know better whether there's any mitigation needed. But um that has moved along actually faster. when when the consultant was engaged, he said he would
need a month, but in fact, he's done it in a couple of weeks, which I hope means he didn't find anything alarming, but um in any case, uh we'll know what that report says on Monday. Um, ACLT has
moved ahead um at at its own board level uh to decide to u continue to work with Felicity Hardy who's done one or two things for us. Uh, but we proceeded slowly toward having her be sort of the
first person we contact with legal questions. She did say in our her original conversation with us that some of the things um that we would be requiring advice or representation on
were outside of her area of experience and so she would be happy to have a coordinating role in those cases but we might need additional people. Um development was one of those. So, I will be speaking to Felicity this coming week
about actual next steps on 174 and who she would like to work with in parallel um specifically that has more experience um in supporting development projects. Uh she will um her expertise is in real
estate transactions per se. She has um organized two for us. the closing of the first one she worked on um is in a couple of weeks and I don't see any obstacles to closing on the second. It's just not as far forward yet. Um
>> Linda, please tell Felicity I send my regards. I I I I worked with her some years ago. >> Yes, she's of the people that we interviewed or approached for this. Um she was the most genuinely enthusiastic.
She likes what we're doing and looks forward to working with us. But she was candid that the the difficulties that we might need help with included some that she didn't have relevant experience for and would seek other uh support.
Okay. The um the capital investment and uh resale prep and assistance and so forth. Um, I would like to see that one moved to the second list if possible. And the
reason is that um is there certainly there are there's boilerplate language out there for condo agreements, but this is going to take some conversation with our other homeowners
because the townhouse particularly, if you'll recall the design, the existing envelope is going to be used to create three town houses and then there will be a duplex created by Habit Habitat Habitat intentionally when they make a
duplex it has only a single party wall. The units have separate roofs and the siding is clearly you know all the outside walls. The only the only thing that impacts both the units is literally the party wall that joins them. And
that's intentional. That's so that it can be left that each homeowner is responsible right out to the shell uh for the maintenance of their own home. And that of course is the case for all of our other homeowners because the
shell is in common. Um the the we don't intend to change the roof line. We really like the existing envelope and want to modify it no more than is necessary. um there um the unit in the middle will
share part of their roof with the front unit and part of their roof with the back unit. And so that creates a necessity to have agreements up front for the maintenance of the envelope of the building and the exterior walls the
same. Um a common arrangement in condos is the condo fee is large enough to begin to build toward being able to cover those kinds of expenses. that would be very different from our requirement of all of our other homeowners. We do have in place,
although not yet very much formalized. Um, we're working on that, but it's not in place yet, a commitment to the idea that ACLT will support its homeowners with loans if necessary, and we have in fact already done that when people have emergencies.
um if uh maintenance is needed that is more than they can afford in the short term um with zero interest would provide zero interest loans e but even that um is uh might not sit well in
terms of being an agreement that covers the condo situation. I would like more time to consider how we want to go forward on that. And the reason that I specifically want more time is that this bears on the extent to which our
homeowners experience themselves as part of a community, which is a big piece of what we're trying to create here. It's generated willingness to have work parties that work on other people's homes and things like that. And um I uh
I want to take the time to engage our homeowner community in wrestling with how life is going to feel going forward if a subset of them have very different financial arrangements uh in terms of of per force having to
put money aside um and then having that money to draw down. And they may decide they all want to do that. I doubt that. But um the conversation has never been opened and I would like to have time to open it um before we say anything very
formal about what the arrangement's going to be to to guarantee appropriate maintenance specifically for the town houses where not just the owning family is impacted but their immediate
neighbors are impacted as well. Um the resale prep and assistance. Just a small note in passing. Um of course we haven't had any resales yet. This is early in our history. Um
but we um we don't in fact specifically um have an arrangement for providing uh for resale prep and assistance. I'll just remind you that in every sale that we've been party to so far, there is a
transient moment in which we own both the house and the land. At the actual closing, we buy the whole property, house and land from the seller and then we immediately sell the home to the homeowner. And I would assume we would arrange resales the same. At the
closing, there would be a moment in which ACLT would own it and then immediately sell it to the next owner. Um, >> sure. >> Again, we we sort of need some time to see how this condo arrangement is going to sit in that. Um, and also I just note
in passing that I don't think it's a town requirement. If it were, I would have expected to see that challenge. The Community Preservation Act committee has funded a number of our existing uh purchases and
I I haven't seen a requirement. They they do have substantial requirements that come on the OLC, but that's not one of them. So, you might want to rethink uh whether we really need to have that one there. But I would still like to
have how we intend to go about setting up uh the condo management um and its finances uh to have our homeowners have an opportunity to weigh in in that um um conversation and then as a
>> Yeah. Did you want to comment on that? Go ahead. >> Go ahead. Go ahead. Yeah. >> Well, just to check off an easy one. um we do whatever we do decide on for a condo fee um it will be incorporated into the affordability calculation. So
it will have an impact on the uh ultimately on what the purchase price can be. That by the way is a motivation for keeping it as low as is realistically possible. Um and the
reason for that is that the way we arrange permanent affordability is a restricted resale price. Um and the >> the it's a very fine line what the buyer
really wants to pay going in. Um they don't want to take on any more obligation than they can manage, but that sets a baseline that determines what they can sell for when they exit. So if if their purchase price was lowered because of the need to have a
big monthly fee uh as part of their monthly expenses, that's that's going to limit their flexibility in the long run. And that's one of the issues we have to talk through. But whatever we decide on for a condo fee, it will be in the calculation that determines that it'll
be part of the monthly expenses, which I took to be the the intention of that um question. Um and then who the general contractor is going to be. I noticed that you had highlighted that that was your marker
for should that really be in the second list. In fact, we do have a contractor. the u the only thing that's prevented a more public announcement of that um is I keep leaning on you Greg to get me
something that isn't that it isn't going to come back and bite us later that there isn't going to later be some requirement that we put that whole contract out for bid if in fact we can select the contractor now that contractor will be right builders and
they're they're going ahead with that assumption I think I shared with that Seth uh gave us the form for what he calls an A133 contract which sets would set up right builders as the contractor but allow them to bid out the
subcontracts. So, that's where we are with the items on that list so far. And and I think I've >> called attention to the questions that I put in the uh or clarifications that I put in the comments.
So maybe we should just pause on back and forth here and uh because I I do want to respond to some of that. Obviously I want to hear from the trust too and you know Gusto perhaps we should just quickly get into the more detailed stuff
that's further out and maybe I'll pull some notable highlights from that >> or would you would you rather stay here with this initial >> Yeah. No, I mean I I um you know I first I want to thank you know Linda for all her patience with us and and trust
members the same. We're we're we're trying to get to a point where we can um express our enthusiasm for the project with an affirmative vote and feel like we're doing our duty. And um so I
understand that this first list is a like I was trying to put it before um feeling like this project is uh it's it's it's on its way so that we really are ready to kind of earmark funds
understanding that our commitment doesn't turn into a check until this thing is ready to really roll. And so that second list, Greg, I think maybe yes, you're right. We should look at it. But that second list is is what
ultimately protects the the trust funds from being misspent. The first list is what protects us from us misvoting. If if if that if that makes any sense. So, I I I guess I' I'd
like members to kind of chime in to um say what doesn't make sense in what any of us are saying, ask questions or restate things as you see them so that we we we feel like we're all on the same page here.
>> Yes, Alex, please. >> Yeah, just a bit of a process clarifier for you, Greg. Would the next step be us essentially approving this list and empowering you to audit when that's complete and report back to us or is
there another intervening step in there? >> Um I I think um that could be to the trust, right? So um I I think you know that that's probably the approach I'd recommend. Um but the trust could also develop a consensus that says we want to
see all these things before you vote. Um, I I think you could go either way. >> Thank you, Algra. >> So, I mean, I feel like I've been enthusiastic about this project from the start, but I think that this list would
protect us. I mean, I do think there are some I I do think that some of the nitty-gritty stuff at the beginning might be better suited at the end. And I think having some of the bigger picture things like oh there are actually two lenders that they have been in contact
with and there is actually a contractor. Those are like two of the big big things to me. Um and and knowing that some of the work was already being done towards the other things. I think my comfort level would be to say like so long as
this list is approved or the you know is met, we will vote sooner as opposed to saying let's put off the vote until the first set of things is met because I think the longer we put it off, the less likely any of
those other lenders are to say yay. Um, so I my sense is that it would be more helpful to have a commitment
contingent upon those things rather than those things than a commitment contingent upon more things. If that made sense. >> Yeah. Yes. And if I may ask you, uh, Algra, what what would your thought be about,
uh, kind of someone moving for a vote and considering that tonight. >> I would move. I I can motion a motion of sorts. >> You nothing is nothing is stopping you. I'm also curious about others comments
or thoughts. He Carla I think the the list is fine. I I I do realize that maybe there's some tweaking that that can be done um based off of what uh Linda's comments were, but I think I think directionally this is pretty much what I was also imagining as well.
>> All right. So, Greg, can we see that up on the screen again so I can make words that might make sense to make a vote or does anybody else want to say anything else before I say more things?
Alex. Yeah. Um, Algra, I'm also very excited to move this project forward and vote tonight. I'd ask that as you think about the motion you make, you leave it open enough that Greg can in his professional capacity bend downward as
needed on requirements for this so that if after conversation, it's his determination that in response to some of what Miss Leaky said, things can be moved to later in the list, he's not stuck with this as the bar that has to be.
Thank you. Okay. So, >> I guess I uh I guess I'm what's uh what is what what what's holding us from
uh just making a vote that's contingent on certain conditions being met for dispersement. I'm asking now to us the members, what what do we what do we feel is um is
missing for the project to be baked enough to vote to commit funds that can only be dispersed when that second list materializes. I guess number one is the the the site
control and and someone uh we also don't know who's committing the the rest of the equity to make a purchase.
>> Yeah. and we're waiting for the phase one and it sounds like we're willing to maybe postpone the capital investment and maintenance policy.
So, it's really the site control is the big thing here and the lender saying, "Yeah, this is a project we can finance with the trust commitment, but we don't have the missing equity
committed by but we would be the first ones kind of throwing down the gauntlet here." Lyn, do you want to comment on on where on on our our deliberations to this point? What was that? Was that question
addressed to me? >> Yes. Yeah. >> Would you mind just repeating it? >> Well, do you want to comment because we we may be getting close to a motion. So, >> right. >> This would be the chance to um >> Well, I was I was trying to track as you
were going along there. Um I I heard that the organization um the success satisfactory draft organizational capital investment etc can move into the second list. I just want to be sure that we're on the same
page here. Um and um I heard not on this list but a concern that you expressed Gaston that it's not clear whether where the rest of the money for the purchase will come forward come from. You you probably know that this project got a
high vote in the CPAC meeting but that's not money in the bank yet and in any case it comes along at the earliest on the 1 of July. So that then comes back around to getting a lender to say yes,
this project makes sense because we may have to tap some of that. It's not just a construction loan. It's a bridge loan. Uh and part of the bridge may be that they may have to make a contribution uh to the um purchase.
>> I I was trying to kind of get clear in my mind what what would we have what would our vote have done? And I'm I'm I think it's basically it would be a tentative commitment subject to the purchase >> list one.
>> Sorry. Yeah. >> You mean you mean matters that are outstanding on list one, Gaston? >> Yeah. What would what would we have done if we vote in the affirmative tonight? it. I think it would be a tentative commitment subject to
the purchase option or PSA and a financing plan given the representations that the other points besides the organizational docs are are are in order. Is that how you're seeing it, Greg?
>> Um, yeah. Yeah, I mean basically I mean the the impact of a vote of a of a vote tonight to sort of say, "Hey, if you get if you check all these boxes um then then the funds are committed uh is that you empower me to um you know to work with uh with with Linda and ACLT to
check these boxes um and therefore, you know, formally affect the commitment of funds. probably issue a letter, you know, referencing this meeting and then uh that I've seen satisfactory evidence of all of them. Um and therefore the
trust has, you know, made a contingent commitment to uh you know to ACL for a period of time which we should name. Um um and I I I also wanted to sort of raise one specific uh you know I I think
I'm okay moving um the sort of organizational level capital investment um and and and resale approach um you know to the second list and you know I just want to clarify too and really what I'm getting at with that is um
when there there's a structural challenge with affordable home owner home ownership projects because they are uh restricted at resale, there's not necessarily an incentive for the current owner um to make appropriate capital investments um and so uh because they
might not recoup those at sale. And so my hope is that ACLT can uh to name an intention. They can't commit to having money 10 years down the line necessarily. Um but uh I'd like to see it named intention on paper, but that could go to the lower list. What I would
like to have clarity on upfront uh before uh you know sort of you know I I I check this box on behalf of the trust should you so empower me is um you know is some placeholder for condo fees in the uh you know sort of the math we're
working with now um uh you know um and knowledgeable that those will change um you know as will interest rates etc. But, um, I think it's it's healthier because what that's going to do is, um, get us a little closer to, you know,
what a a bank would actually evaluate. My guess is a bank would require it, too. Um, but, um, yeah. So, I want to differentiate between those things. I I was just putting my hand up and down because I wanted to be sure we were
clear that that one item was going to move to the second list. There there was a moment earlier. I mean I think everybody's agreed to that but but you had made a generalization that was like all these items are in place >> all except the one that's moving to the
second list. Yeah. Um, but I I guess Greg is differentiating between the organizational documents and the math of the condo fee. >> That's right. And and that's fair enough. It means that we'll have to make some estimate of what we need to allow
for a condo fee before we've had the full consultation with our current homeowners. >> And is that not covered by the separate bullet point about condo fees? >> It is. It is. It It is. It is. Yeah.
>> So, that would stay >> up top. >> Yes. >> So, the other one can go >> below. Okay. >> Um >> You can do it. >> I can do it. Um I Well,
I move that the We are the Ammerst Municipal Affordable Housing Trust. We have to put our full name in a motion. Um, commit
the what what 275,000. Is that what we're saying? Um, to the Amoris Community Land Trust project
contingent upon And here's where I might need help because we we want contingent upon all funding and appropriate real estate transactional
documentation in place to assure the sale with funding to be dispersed when all agreed upon requirements are met. Like is that that was a lot of words. Can I uh could we try to work this one
together? We'll try to get the language right. Okay. So, I think we're looking um to make a tentative commitment that becomes a full commitment once our
associate town planner to uh the to his satisfaction concludes that the Ammerst Community Lounge Land Trust has satisfactory site control, a financing plan,
the phase one assessment with no recognized conditions or clearance of the same, an attorney, and contractor and condo fees in their proforma.
and that this tenative commitment which will become a full commitment once these conditions are met to uh Greg's satisfaction is contingent upon the below conditions on page two. It's a little wordy, but I
think that's where we're going. >> Can I ask a question though because this is to go to Alex's earlier point. I mean, I guess process-wise, Greg's not going to give the land trust
a copy of the motion that says all of those things contingent that, but then potentially like a lender would look at it and say like this isn't an actual commitment. This like how would that piece of the process work in terms of leveraging the other funds?
That's cuz I I think my understanding based on what Alex what I understood Alex to say earlier was that like we don't want to get so in the weeds that were bogging Greg down too much. Um and I feel like that motion is
just the memo on paper which if that's what we have to do I guess that's what we have to do. But I I guess from Greg's perspective, how how do we make a motion then translate into some sort of document that can actually be useful to the ACLT
leveraging other funds? >> Sure. So I think um uh what I would do so the process from here let's let's say the trust voted to um you know to uh you know make a contingent commitment to these funds. Um I'd work out all these
things on list one uh with uh with ACLT and you know whoever else is you know kind of implied on that list minus the that one bullet. Um and and then once those uh conditions had been met, um I'd issue a letter referencing tonight's
vote um and and then and then naming that I've uh documented that you know um all items to my satisfaction and therefore this you know the trust has committed these funds um to whom it may concern basically and so um in turn you know ACLT could then bring that
commitment to uh to other funders, lenders etc. And should some lenders say, "Hey, Greg, I need you to say it this way or that way." Um, I'd say it this way or that way in a and follow-up letter, probably. Um, oh, and I'm invisible right now. Sorry about that.
>> Yeah. Um, so you Alex took the time to draft something and um and I I I think that um, Alex, why don't you go ahead and and read it. I guess I
would maybe um uh drop the word security because it it kind of has it's like a term of art in some cases, but other than that, I think I think uh I think it I think it's I
think it it does what we want to do. >> Okay. Um let me make that edit right now. I think it's almost to, you know, to his satisfaction as um but or reference the memo as you do in the second paragraph.
>> Um so I'll I'll read it as it is now and then I'm happy to hear friendly amendments I guess. >> Um so the Emerse Municipal Affordable Housing Trust directs associate planner Greg Rashane to monitor progress of the proposed ACLT development presented on and before the 22nd of January 2026.
MAHT further requests that Mr. regime to return a report to the trust when in his professional opinion the proposed project meets the required level of stringency for the trust to appropriately put forth an initial equity commitment. This level of stringency should be adjust should be
justified through satisfactory completion of the requirements laid forth in the memorandum titled Ammerst Community Land Trust funding proposal 174 A Street. The trust further empowers Mr. Mr. Rashane to adjust the list to lessen or remove requirements as needed contingent on support of town council
and other staff as necessary. At such a time as Mr. Rashane determines the ACLT project at 174 AM Street meets the requirements, the trust empowers him to commit the amount of $275,000 to ACL for fulfillment of this project. Fund dispersal will be determined at a later
date following positive report from the same associate planner. Do we have That's a mouthful. >> We got a second. Okay. Um any discussion? >> Um guest honor Greg, would it be possible for one of you to pop that up
on the screen um just so everybody has a chance to actually read it. I I just emailed it to both of you. I I um this might be kind of uh cheeky or out of place, but I I kind of feel like rounding the number up to 300 if if if
that's a friendly amendment that um that has support. >> I I'm happy to write to commit the amount of up to 300,000 if Algra as a seconder would need to agree. I second the
friendly amendment to up to 300. All in favor? Uh let's uh take a vote if seeing no no discussion. Or Greg, you have a comment for us? >> Uh no. I are we okay without it on screen? I my outlook is is uh off
tonight. Um, so I've not received that email yet, but are we okay without it on screen or >> also happy to share screen really quickly if that works? >> Yeah, go uh go. Yeah, I can as well, but if you have it queued up, uh, Alex, go ahead.
>> Yeah. Okay. All right. Hopefully you all can see just a a notepad. Whoa. I didn't expect it to look like this.
>> Sorry, I was jotting it down quickly. Um, >> no, no, it's like uh you're you're you're in MS Basic or something. Um uh uh when when you when you when we're ready to to to to to vote, let's go
ahead and do this. >> Just really quickly before we vote, Greg, if you're comfortable with this or if there's any language or anything you're concerned about or unclear on. Greg, that was to you. >> Um, yeah, I'm I'm good. This is fine
with me. Great. Thank you. >> Just just a really quick thing. Why Why does it have to be the same as No, not not to say that Greg's ever going to leave us, but that just >> I It doesn't have to be. That's just how I wrote it. I was writing quickly. >> Which Which word are you looking at? Uh,
he >> The last The last sentence is the same associative planet. >> Yeah. Well, you know, uh yeah, that's it's um being it's legal ease. Um uh um uh yeah, it's just to not refer to to
Yeah. Um I Yeah, we can drop the same. Um it's it's still the same. >> Yeah, it's just the town has multiple planners with various titles. So, it's making sure it's clear that we are talking about
>> the same associate planner we've been talking about, not a different one. >> Yeah. >> Yeah. And and I do think it is appropriate uh, you know, to um, you know, should I get hit by a bus or something that if some other staffer ends up on this that they should So,
yeah, me being named here, I think, is appropriate. Um, because you'd want to sort of re-empower somebody else, I think, if Okay, maybe. Yeah. Okay. Uh >> All right. >> Uh Algra, I'll give you the first vote.
>> Yes. >> Okay. Alex, >> yes. >> TJ, >> yes. >> Carla, >> yes. >> I say yes. Uh so uh unanimous vote the
five uh quorum present give this uh tentative commitment ready to be materialized um upon a satisfactory report from uh Greg back to us.
Uh so Linda I I I take it things are are clear the the road map from here. >> Yes. Yes. Okay. I think so. Thank you. Thank you all. Thank you very much for the generosity. >> Okay. >> I'm not I I don't think I've ever had a
granting agency offer me more than I asked for in a long career. >> All right. Well, we we we like to keep uh uh people on their toes. >> Yeah. >> Um items not anticipated.
Oh, town updates. Greg, uh do you want to give us a quick lowdown? Um uh yeah, I want to say um uh that Ammeris Community Homes uh is uh is well on their construction path um and um is now actively marketing um uh and there
is uh there are applications available um for future residents of those homes. Um so uh it is we are now at a juncture where um trust members and whomever in the community can spread the word about that. Um so please do um there is an ad in your packet um and coming I should
probably send you all um the individual um PDF um and then there's also um a website which is simply ammerst community.com um and so please um spread the word to that about that to folks um on a so
that's that's kind of the the big exciting news um the less exciting news uh is uh unfortunately um the uh East Street and Beltertown Road uh development was not invited uh to make a full application um uh to UHLC for
funding in this round. Um and so uh you know that's so we're in further delay with that. We will um we we have had an initial meeting with wayfinders on that the staff level um and hope to meet uh with them and possibly with the UHLC uh
as well to sort of diagnose what's going on there a little more. Um and um I think that is uh kind of the uh uh the core um town stuff that's happening now that we haven't already talked about tonight.
Um, forgive me if I getting anything here. Um, all right. Yep. So then we are on sub committees if we'd like. anticipated >> anything.
>> Sorry, we keep talking. I keep talking over you, Greg. Go ahead. >> Oh, no. It was just It's probably helpful to ask for if anybody has public comment on uh any matters not related to what we already did. >> Yes. Um uh we still have some members in
the audience. Would any of you like to make public comment? Jessica Allen. Let's uh give her voice. >> Welcome Jessica. You can go ahead and talk. >> Hi, good evening everybody. Thanks so
much. Um I just wanted to um give a brief update of Ammeris Community Homes. Thank you, Greg, for um giving the highlight to the committee. Um I do want to note just a couple of things. One, we had our we did have our first info
session last week um and we have a second one coming up on Saturday, February 7th. So, if anybody is interested in more information about um the eligibility requirements, the application process, that would be a great time to meet one-on-one with our
partners at DVM Housing. The meeting will be both hybrid and in person. Um, and there's actually time set aside earlier in that day for people to come in and have one-on-one meetings if they feel like they need it. So, the info
sessions from noon to 1 on Saturday, February 7th. Um, and people can come as early as 9:00 a.m. to get some information, more direct information from our um our partners who are running the lottery. Um, the project is looking awesome. We're about a little bit over
halfway through construction. We are hoping to see the first homes uh the first three buildings fully completed by the end of March and all of the homes completed by uh July. So, we are cooking along. Things look awesome and uh we're
really excited that we've made it to this process of the lottery and we're looking forward to uh seeing how many people are coming through. The biggest thing to sort of let people know as you're talking about it is that they need to get pre-approved for a mortgage um through a traditional um with a
traditional mortgage, any of the community banks. Um we encourage people to shop around and not just go with one bank, but see if they can get the best deal. Um but that's it. I just wanted to give a a brief update and if anybody had any questions about the lottery, I'm I'm
here and happy to answer them. Thank you. Thank you so much, Jessica. Anyone have any questions about the lottery? Well, congratulations. It's really great to hear the the project coming to fruition. >> Yes, we're very excited and and it's
nice to see another housing development uh kitty corner from where we're building now. So hopefully Beacon um you know has a successful project. So it's exciting to see. >> Wonderful. any anything not anticipated on the agenda that anyone wants to
raise? Well, then uh thank you all for for being here. This is an exciting meeting. Um I think we were all just desperate to be able to vote on this, Linda, and and just hear about the movement forward. Um
so, thanks for for being with us again, and uh good luck everybody with the cold this weekend. Good night. >> Thank you. Good night. >> Thank you, Greg, for everything. >> Thanks, everyone. >> All right.
>> We did all right. >> We did okay. Yeah, it was uh Yeah, we're still recording. So we should uh we should