Affordable Housing Trust

There shall be an Affordable Housing Trust consisting of five member trustees.  Pursuant to MGL c.44, section 55C, the Town Manager, as chief executive officer, or his designee, shall be an ex officio Trustee.  The remaining Trustees shall be appointed by the Town Manager for staggered two year terms.   

The Affordable Housing Trust shall provide for the creation and preservation of affordable housing for the benefit of low and moderate income households.  The Trust has the authority to acquire by gift, purchase, or otherwise real estate and personal property, both tangible and intangible, of every sort and description, and to use such property in such a manner as the trustees shall deem most appropriate to carry out its purpose of creating and preserving affordable housing for the residents of the Town.   The Affordable Housing Trust is and advisory, regulatory, and ministerial committee of the Town.