CONWAY — Town officials are making strides toward establishing an Affordable Housing Trust Fund in an effort to address a longstanding concern.
Since the spring, the Housing Trust Bylaw Ad Hoc Committee has been researching trust funds that support affordable housing in nearby towns like Amherst and Leverett. On Monday night, committee member Beth Girshman presented a draft of the bylaw that would establish a similar trust fund for Conway.
According to a document from the committee, the trust fund would act as a “financial entity or ‘bank'” that channels money from several sources into “producing and preserving affordable housing.” As examples of projects the fund can target, the document lists the purchase of property; converting surplus municipal property into affordable housing; housing renovations aimed at improving accessibility; new construction or building rehabilitations for senior housing; assistance with a down payment, home ownership or renting; studio apartments; accessory dwelling units (ADUs); duplex or triplex construction or renovations; and contracts with consultants like architects and attorneys.
Girshman agreed with Selectboard Chair Christopher Waldo and Selectboard member Elaine Campbell that the bylaw should specify that the trust is for affordable housing and senior housing, given the town’s senior population that relies on fixed incomes. They also discussed whether the bylaw should explicitly mention accessibility, but Girshman said the trustees, who will be tasked with deciding where to channel the funds in the trust, will already be considering accessibility if a project involves a new building or renovations.
Girshman mentioned the roughly $110,000 of Community Preservation Act (CPA) funds set aside for housing projects, along with state programs, as potential sources for the Affordable Housing Trust Fund.
The Selectboard approved the draft bylaw with a few minor tweaks. Next, the Community Preservation Committee and town counsel will take a look before voters consider establishing the fund at the June 5 Annual Town Meeting.
If voters give the trust fund the green light, at least five trustees will run it, with Treasurer/Collector Sean MacDonald overseeing any purchases or other financial decisions.
“All of us on the committee think the key here is going to be getting the right mix of people on the trust as trustees,” Girshman said, “because they’ll have a bunch of authority and there has to be willingness to do work.”
Waldo volunteered to join the trust as a representative of the Selectboard, and Town Administrator Véronique Blanchard mentioned a real estate agent would be a potentially helpful voice on the trust. Although the trustees would serve three-year terms, according to the current draft of the bylaw, Girshman agreed with Blanchard that the time commitment would be “sporadic,” as the trustees would likely meet to work on projects instead of meeting regularly on a set schedule.
Blanchard told Girshman that she and the other two ad hoc committee members “fulfilled [their] mission beautifully.” Girshman said she joined because affordable housing and senior housing are “important to explore.”
“People have been talking about this for a long time,” Girshman said. “This could help one or two people, but maybe it’s the one or two people who need it the most.”
