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Planning board recommends $201,194.34 transfer to Affordable Housing Trust from mitigation funds
Summary
The board recommended Article 11 to transfer $201,194.34 from the stabilization/mitigation fund to the Westborough Affordable Housing Trust, funds derived from a Pulte Homes mitigation agreement in lieu of building 25 affordable units; staff said prior payments total $600,000 plus interest and the transfer continues the trust's work.
At its Oct. 1 meeting the Planning Board recommended Article 11, which asks town meeting to transfer $201,194.34 from the stabilization (mitigation) fund to the Westborough Affordable Housing Trust.
Ed Bain, chair of the trust, summarized the mitigation agreement with Pulte Homes: in 2018 the developer agreed to either build 25 affordable units or pay $1,400,000 in mitigation; the payment schedule called for $400,000 for three years with $200,000 annually for five years in subsequent installments. Bain said the town has already received $600,000 plus interest and additional mitigation remains in the stabilization fund. The proposed transfer would move funds to the trust to fulfill obligations tied to the special permit and to continue the trust's programs.
Board members asked clarifying questions about the slide dates and thanked staff for the assistant town‑planner hire; the motion to recommend the transfer was moved, seconded and approved by voice vote.
