Concord trust approves $1 million to enable Habitat-built homes at Assabet River Bluff

The Town of Concord Housing Trust voted unanimously to approve a $1,000,000 grant request from the Concord Housing Development Corporation (CHDC) to enable Habitat for Humanity to build three single‑family, energy‑efficient homes at 406 Old Marlboro Road.

Chair Keith Bergman announced the motion and called for a roll‑call vote after discussion; the motion (moved by Rich Feeley and seconded by Mike Lawson) passed 6‑0 with Mary Hartman, Mike Lawson, Linda Escobedo, Rich Feeley, Gary LaFleur and Keith Bergman voting in favor.

The CHDC presentation, led by Lee Smith with CHDC staffer Liz Rust in attendance, said Habitat was awarded the project and proposed constructing three freestanding homes — two three‑bedroom houses and one four‑bedroom house — at larger footprints than Habitat’s typical plans. “They agreed to do that,” Lee Smith said, describing target sizes of about 1,600, 1,700 and 1,800 square feet for the three homes.

Trustees pressed for clarity on funding flows. Liz Rust said the trust’s $1,000,000 would go into the Habitat portion of the project, while previously committed Community Preservation Committee (CPC) funds could be used to seed condominium reserves for the development if needed. “The million dollars is really just going into the Habitat portion of the project,” Rust said.

Board members also discussed prior financing on the parcel and the project’s overall cost. Chair Bergman summarized the accounting presented during the meeting: acquisition and earlier allocations total roughly $1.5 million, and adding the approved $1 million would bring project funding to about $2.5 million for five units (the CHDC/Habitat plan and two existing units), or about $500,000 per newly produced unit as presented to the trust.

Trustees probed how cost overruns or savings would be handled. The CHDC representatives said Habitat underwrites mortgages on its balance sheet, assumes risk for construction, and that mortgage discharges would be negotiated as units receive affordable‑housing restrictions. Lee Smith said he anticipated partial mortgage discharges as each unit becomes deed‑restricted and comes on line.

The trust’s grant authorization directs the chair to execute a grant agreement with CHDC “subject to approval as to form by town council,” and the board asked staff to coordinate review of the existing mortgage instrument with Town Council before final execution.

The project remains subject to the CHDC and Habitat finalizing construction and legal documents, and CHDC will report back with any negotiated changes to mortgage or grant terms before funds are expended.