A significant portion of the meeting centered around the city’s housing production plan, which was initially presented to the city council in November and referred to a committee for further discussion. A representative explained that the plan serves as a strategic toolbox for the city. Despite some misinformation circulating in the community regarding potential zoning changes, it was clarified that the plan intends to ensure appropriate housing types are developed in suitable locations. The plan is expected to be revisited by the council in the coming weeks, and its adoption is seen as a necessary precursor to the Housing Development Incentive Program (HDIP). This program is designed to encourage investment through local tax agreements and state tax credits, ultimately stimulating housing production.

The discussion then shifted to the Request for Proposals (RFP) process, which would follow the approval of both the housing production plan and HDIP. Members of the trust were encouraged to maintain an open-minded approach, considering unique opportunities each site might present for affordable housing or other financial benefits. Emphasis was placed on ensuring that developers selected through the RFP process are capable of effectively completing projects and that affordability remains a top priority.

The board also addressed a first-time homebuyer program aimed at enhancing housing affordability for the current year. Members were encouraged to solicit ideas for potential projects and noted that previous engagements with developers could lead to new inquiries, although no formal requests had been submitted. Additionally, the board anticipated the allocation of free cash into the affordable housing trust fund with the new fiscal year, although the exact amount remains uncertain. Ensuring financial efficiency in the utilization of these funds, particularly for homeownership subsidies, was emphasized.

In an effort to build upon past initiatives and foster collaboration with the community, the board considered reinstituting educational sessions and exploring partnerships with organizations such as Habitat for Humanity. A potential collaboration with a Community Land Trust was also mentioned, contingent on the return of a key individual from maternity leave.

Updates on modernization projects at the Revere Housing Authority were provided, highlighting ongoing efforts to redevelop the Coolidge Street and Constitution area. This redevelopment faced delays due to state-related issues, but the board had issued an RFP for master planning of approximately 40 acres. Another proposal involved converting existing buildings into a new multi-story building, intending to add new housing units. Concerns were raised about potential delays in siding and roofing improvements due to funding or weather conditions, although a state allocation supports capital projects across multiple housing units.

In a move to enhance board operations, the establishment of subcommittees was proposed. One subcommittee would focus on fundraising, identifying potential foundation funders and grants, while another would standardize efforts across various initiatives. The enthusiasm for these subcommittees was apparent, with several members indicating their willingness to participate, recognizing the importance of structured planning and communication among members to avoid conflicts of interest.

The board also considered the feasibility of a per-unit subsidy model to enhance affordable homeownership opportunities. This involved acquiring homes for renovation and resale at affordable rates, with subsidies covering the price difference. Collaboration with real estate brokers and agents was suggested to gain insights into the housing market, and the possibility of purchasing units in a condominium building was discussed.

A compliance update regarding the Affordable Homes Act, set to take effect next month, highlighted necessary zoning changes and adjustments to expand rental opportunities and single-family home requirements. Members were informed of ongoing efforts to ensure compliance with the new legislation.