Affordable Housing Growth & Development Trust Fund Board | March 7, 2025

The meeting covered various aspects of affordable housing development, including reviewing reports, establishing minimum qualifications for agents, cost certifications and planning for future funding.

Watch the meeting. AI generated summary below. Corrections welcome; see Contact page.

Key Points

• Withdrawal Request for 850 Falmouth Road: Standard Holdings withdrew a request for approval of a subsidized property transfer (850 Falmouth Road) to John and Anthony Santoro of Rhode Island to be held by 850 Falmouth Road Associates, LLC.
• 2024 End-of-Year Report: The board approved a draft report to the Community Preservation Committee (CPC), removing references to the Affordable Homes Act changes and including a balance sheet.
• Minimum Qualifications for Agents: A significant portion of the meeting discussed establishing minimum qualifications and monitoring procedures for fair housing lottery and compliance agents. The board aimed to create a more detailed monitoring report than previously received, potentially using a template from the County’s Regional Housing Services office. Uncertainty was mentioned associated with the county due to Barrett Planning's contract expiration at the end of the year. Discussions included the need for annual unit inspections and ensuring consistency with the county's approach while maintaining independent standards. Attorney Galvin's input was sought on the qualifications.
• Draft Monitoring Report Format: The board approved a draft format for monitoring reports, with additions for agent qualifications (state certification or training) and annual physical inspections, pending attorney review.
• Future Funding: The board discussed the need to approach the CPC for additional funding, given their low remaining funds.
• Remote Meeting Participation: The board acknowledged the potential need to return to in-person meetings due to the expiration of remote meeting allowances, unless legislation extends it. They discussed maintaining remote participation flexibility for board members.
• Grant Agreements: In response to a request by a board member, the board plans to review and tighten their grant agreements to include cost certifications, to ensuring funds are used appropriately and not to simply bolster developers' profits. The chair asked an attorney to

Highlights

• State Senator Julian Cyr will chair the Housing Committee at the state house.
• A report on the realities of year-round deed restrictions, from Barrett Planning Group, was mentioned. The report was for a private organization.
• The board approved minutes from December 6, 2024, and February 7, 2025.