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Concord trust approves $392,285 to cover sewer fee for 51 affordable units at Baker Ave
Summary
The Concord Municipal Affordable Housing Trust directed a $392,285 dispersal to cover sewer improvement fees for a 51‑unit affordable project at 292–294 Baker Ave (Novo Riverside/assignee); the motion passed unanimously and staff said building‑permit milestones are imminent.
The Concord Municipal Affordable Housing Trust on June 3 voted unanimously to direct the town treasurer to disperse $392,285 from the trust fund to cover the sewer improvement fee for 51 affordable rental units proposed at 292–294 Baker Ave.
Keith Bergman moved the motion referencing the trust's April 8, 2024 grant agreement with grantee Novo Riverside Commons LLC; the board's vote authorizes dispersal to the town for the fee and names the grantee's designated assignee (LG 300 Baker LLC) as the recipient for that purpose. The motion passed by roll call without opposition.
Stephanie Kefir, attorney of record for the Novo Riverside project, told trustees the project is advancing toward building permits: "the applicants already submitted their building permit application" and staff expect HLC (Historic/Land‑use/Local Control review) review and final signoffs within roughly two to four weeks, after which the regulatory agreement will be recorded and permitting can proceed.
Trustees discussed that the dispersal combines CPA and non‑CPA funds, and that the distribution follows the previously executed grant agreement. The chair confirmed the dispersal is a condition that helps the project secure its final permitting and financing steps.
Vote tally: by roll call the trustees present voted unanimously in favor (Keith Bergman — yes; Mary Hartman — yes; Lee — yes; Alex Hassinger — yes; Mike Lawson — yes; Matt Johnson — yes).
Next steps: staff will coordinate with town counsel, the town manager and the project attorney to finalize recording of the regulatory agreement and to confirm the town treasurer's disbursement schedule once HLC completes its review.
