The Board of Trustees of the Affordable Housing Trust in Southborough, Massachusetts, convened on February 27, 2025, to discuss critical issues surrounding funding and the management of affordable housing initiatives. A significant focus of the meeting was the limitations imposed by the Community Preservation Committee (CPC) on the Trust's ability to access funds for affordable housing projects.

Trustees highlighted that the CPC does not have direct funds available and must seek approval from the town meeting, which restricts the Trust's operational capacity to once a year. This limitation raises concerns about the timely allocation of resources for housing acquisitions, potentially stalling progress on affordable housing initiatives.

The discussion also centered on specific properties, particularly the Atwood property, which has become a focal point of concern among trustees. There were questions regarding the mission statement of the Trust and whether it adequately addresses community needs, especially in relation to buy-downs for affordable rentals. Trustees expressed the need for clarity on how funds would be utilized, particularly in transactions involving developers and landlords.

Trustees acknowledged that while the mission statement aligns with community expectations, there is a need for further explanation regarding the mechanics of buy-downs and the necessity of working with existing property owners to create affordable units. The meeting concluded with a consensus on the importance of transparency and communication with the community to foster support for the Trust's initiatives.

Overall, the meeting underscored the challenges faced by the Affordable Housing Trust in navigating funding restrictions and the need for strategic planning to enhance affordable housing opportunities in Southborough. The next steps will involve addressing community concerns and preparing for the upcoming town meeting where funding proposals will be presented.