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Lowell Affordable Housing Trust will vet three proposals, may use executive session
Summary
At its July 15 meeting, the City of Lowell Affordable Housing Trust Fund board heard that three funding proposals are under executive review; staff will circulate full applications to trustees and may invite proposers to present in August, with awards targeted for September.
The City of Lowell Affordable Housing Trust Fund board on July 15 agreed to circulate full grant and loan applications for three proposals that staff and the executive board are vetting for ARPA and other funding compliance.
Chair George Colores told trustees the executive board is reviewing three opportunities and will notify the full board when materials are ready for review and presentation. "We have 3 funding opportunities that are presented to the executive board that they're in the middle of reviewing the quality and the integrity in vetting these deals," Colores said.
Trustee Connor Baldwin said the preferred schedule is to invite proposers to present at the August meeting for question-and-answer, then hold funding awards in September if trustees are satisfied. "When we bring together the agenda for the next meeting, we'll have those proposals on the agenda," Baldwin said, adding the board should review full applications in advance to allow meaningful vetting.
The board discussed procurement and compliance constraints. Staff said they did not run a formal RFP for a proposed loan servicer because the estimated annual value of services is likely below certain procurement thresholds and they had solicited multiple institutions with only one response so far. Members stressed staff should circulate the proposal details before any approval.
Board members also discussed the limits that the American Rescue Plan Act (ARPA) places on some uses of the trust's ARPA-funded pot and noted that the Community Preservation Act (CPC) funds already deposited in the account provide an alternative funding stream for projects that are not ARPA-eligible. Colores told trustees that $310,000 in CPC money had been deposited into the Trust account and can be used differently than ARPA funds.
Baldwin proposed adding an executive session to the next agenda if proposers ask that confidential financial or negotiation details not be made public. "It may make some sense to add... an executive session because it is relative to contract negotiations," he said; staff agreed to consult the city solicitor about meeting-law exemptions.
A motion that staff distribute the full proposals to board members for review prior to the next meeting passed by voice vote. The board scheduled its next meeting for Aug. 19, 2026, at 4:30 p.m. at City Hall and expects proposers to present at that meeting; trustees said they would reserve formal awards until September to allow sufficient review time.
The board did not take final funding actions at the July meeting; members emphasized additional due diligence and legal review before any awards.
