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Trust authorizes warrant article to transfer Pulte mitigation funds to housing trust
Summary
Trustees voted Aug. 8 to authorize submission of a fall town meeting warrant article to transfer available mitigation funds from the Pulte/Del Webb Chauncey Lake development to the Trust; trustees recorded the motion as unanimous and will update the monetary amount to reflect current balances and interest.
The Westborough Affordable Housing Trust voted unanimously Aug. 8 to request a fall town meeting warrant article that would transfer available mitigation funds from the Pulte/Del Webb Chauncey Lake development into the Trust’s account.
According to the discussion, Pulte agreed under its special permit to pay a total of $1,400,000 in mitigation in staged payments for a reduction in required affordable units (an initial installment and subsequent annual payments until the full sum is reached). The Trust previously accepted two payments totaling $600,000 (plus interest) at the 2023 annual town meeting. Staff told trustees the 2024 payment is due Sept. 14 and that, if the project completes before that date, the balance becomes due upon issuance of the final certificate of occupancy.
Unidentified Speaker 4 moved to authorize submission of a warrant article to the town manager’s office with the monetary amount to be updated to reflect current available funds and accrued interest; the motion was seconded and passed 4-0. Trustees said using the mitigation funds would replenish Trust reserves and allow them to continue supporting programs and projects.
