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Southborough committee debates lowering AMI, seeks clearer accounting as Affordable Housing Trust readies purchases
Summary
Representatives from the Town of Southborough Affordable Housing Trust updated the Community Preservation Committee on FY27 transfer requests, said the trust has funds available for quick acquisitions, and discussed potentially targeting lower area median income (AMI) levels while asking the CPC for clearer fund reconciliations and a process for a
The Town of Southborough Community Preservation Committee (CPC) reviewed a Fiscal Year 2027 application from the Affordable Housing Trust on Nov. 9, and heard that the trust now has funds available to act quickly on potential property purchases — but wants clearer accounting and flexibility on future transfers.
The Affordable Housing Trust’s representative, Doug, told the CPC that having funds on hand “has definitely allowed us to actually … be in the game,” describing several rapid property prospects the trust pursued over the past year and three direct resident approaches to sell homes to the trust. He said smaller single-home purchases have often proved impractical and that the trust is focused on seeking larger parcels or multi-unit solutions.
Why it matters: the CPC controls Community Preservation Act (CPA) allocations that the Affordable Housing Trust says it needs to remain competitive in a fast real-estate market. The trust also asked…
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