0:00A focal point of the meeting was the detailed examination of the LDA’s financial and structural components. Town Manager Jill R. Goldsmith praised the collaboration between town officials and legal representatives, highlighting the agreement’s role in advancing local housing objectives. The town’s legal counsel broke down the LDA into critical elements, including a purchase price of $2.9 million for the property, with $875,000 paid at closing. The remaining balance will be financed through interest-free loans over 40 years from both the Select Board and the Affordable Housing Trust.

The agreement stipulates the construction of nine housing structures and a community building, with a firm commitment to affordability. Of the 48 units, 32 will serve tenants earning 60% or less of the Area Median Income (AMI), and seven units will be available to those at 30% AMI. Importantly, a perpetual affordability restriction mandates that at least 25% of the units remain affordable at 80% AMI, even in the event of senior lender foreclosure.

Public engagement emerged as a priority, with the meeting opening the floor to community feedback. Concerns from residents included the project’s timeline, potential changes to AMI levels, and the impact of subsidies on future affordability. Questions also arose about the feasibility of proposed solar panel installations and the financial implications for the town in the event of default by either party.

The board approved the agreement despite some members expressing preference for a nonprofit developer and skepticism about the project’s timeline.

1:41:54In addition to the housing project, the board addressed public engagement procedures for town projects, drawing attention to the need for transparency and accountability. Proposals were made to enhance communication through more structured public involvement.

3:22:59The meeting also included updates on the allocation of opioid settlement funds, with plans to grant funds to local organizations dedicated to substance use disorder prevention and recovery. The board considered and approved three committee nominations.

2:16:55The session concluded with a presentation from the Bureau of Ocean Energy Management (BOEM) on the Gulf of Maine offshore wind project. This initiative, a national and regional priority, will auction eight lease areas for wind energy development.