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Housing trust unanimously backs NOVO’s LIP application; trust flags grant conditions tied to sewer fees
Summary
On March 3, the trust voted 7–0 to support the town’s submission of NOVO’s Local Initiative Program application; members noted an outstanding $392,000 trust grant earmarked for sewer improvements and discussed timing for building permits that will affect the subsidized housing inventory.
The Parker Municipal Affordable Housing Trust voted unanimously on March 3 to support the town’s submission of NOVO’s Local Initiative Program (LIP) application to the state housing agency.
Keith Berlin moved the motion and Rich seconded; a roll-call vote recorded seven "yes" votes. The vote signals the trust’s formal backing as NOVO seeks state approval for a funding change that would allow the project to proceed under the LIP framework.
Context: Trust members said the project’s status affects the town’s Subsidized Housing Inventory (SHI). Keith Berlin explained that if the Thorough 40B does not pull a building permit by April 4, 2026, 237 units will fall off the SHI and the town’s SHI would drop to about 10.03 percent. Novo’s schedule, by contrast, anticipates pulling a building permit in June 2026; if that occurs, units from that project could be added back on a staggered schedule beginning in June and in later months.
Funding note and conditions: The trust highlighted a previously awarded $392,000 grant intended to cover sewer improvement fees for 51 affordable units under the NOVO project. Keith said the trust still holds those funds and they are contractually released to the town when the sewer improvement fee becomes due. "Under our grant agreement... those funds are to be released by the trust to the town at the point at which the sewer improvement fee becomes due," he said. Members asked staff to monitor timing so the trust can release funds in time for any required town approvals and building permits.
Why it matters: The LIP approval path and the timely release of trust funds are important steps to keep construction on schedule and to restore affordable units to the town’s SHI. Carrie reported discussions with the developer indicate a June building-permit target and that select-board action the prior evening supported NOVO’s application to move forward under LIP.
Next steps: Staff will track the NOVO schedule and the sewer-fee payment milestone tied to the trust’s grant; the trust also will remain engaged with the town’s follow-up steps with EOHLC and with any state LIP review.
