Lowell's Affordable Housing Trust Fund took a significant step forward during its inaugural meeting on June 18, 2025, as members elected their leadership and moved to establish the fund with a substantial financial backing. The meeting, led by Assistant City Manager Connor Baldwin, focused on the election of officers and the critical task of seeding the trust with $3.3 million from American Rescue Plan Act (ARPA) funds.

Eric Nelson was elected as chair, with Vallejo Paz serving as vice chair, reflecting a collaborative spirit among the board members. The election was unanimously supported, showcasing a strong commitment to the board's mission.

The primary agenda item was the acceptance of the ARPA funds, which will serve as the initial capital for the trust. This funding is crucial as it allows the board to begin its work in addressing affordable housing needs in Lowell. The board also voted to authorize the city manager to file a declaration of trust, a necessary legal step to formalize the fund's establishment.

Baldwin emphasized the importance of these funds, noting that they are one-time revenues with specific deadlines for encumbrance and expenditure. The board must act swiftly to ensure these resources are utilized effectively before the expenditure deadline of December 31, 2026.

Looking ahead, the board plans to explore additional funding sources and develop a strategic plan for the trust's future projects. This includes potential rental assistance programs and other initiatives aimed at increasing the city's affordable housing stock.

The establishment of the Lowell Affordable Housing Trust Fund marks a pivotal moment for the city, as it seeks to tackle housing challenges and improve living conditions for its residents. The board's proactive approach and commitment to collaboration signal a promising start to addressing these critical issues in the community.