Evaluation committee schedules follow-up, asks for 20‑year pro formas and engages Hilltop Securities

The evaluation committee reviewing an affordable housing proposal for Orange Street, Vesper Lane and Bartlett Road set a remote meeting for May 29 at 12:30 p.m. to begin formal evaluation and asked the proposer to provide expanded 20‑year pro formas and additional financial detail.

The committee chair opened the meeting by reminding members that the disposition of municipal real estate proposals is governed by statute and is open to public inspection. "This was done under chapter 30, section 16, which is the disposition of real estate through either a sale or a lease," the chair said, noting proposals are available to the public from day one and that the committee's evaluative comments must occur in public forums.

Why it matters: committee members said they could not complete a thorough review with the materials submitted and highlighted the need for deeper financial analysis before a recommendation to the select board. "There's a lot of detail that's lacking in the…