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Concord housing board unanimously approves easement, payment schedule and buy‑down amendment for Assabet River Homes
Summary
At its April 7 meeting the Concord Housing Development Corporation unanimously authorized its chair to sign an easement for the Assabet River Homes project, approved a revised Exhibit A payment milestone schedule for the CHDC–CMAHT grant, and adopted a completed Buy Down amendment to the grant agreement.
The Concord Housing Development Corporation voted unanimously April 7 to authorize its chair to execute an easement agreement for the Assabet River Homes project, to approve a revised payment milestone schedule (Exhibit A) for the CHDC–CMAHT grant agreement, and to adopt a completed amendment to the grant’s Buy Down working capital loan.
The actions came during a virtual meeting called to order at 8:03 a.m. and attended by Board members Ray Andrews, Julie McClure (chair), Ann Sussman, Dan Drazen and Lee Smith, along with representatives listed in the minutes. The board recorded each decision by roll call vote with all five members voting Aye on each motion.
Board members reviewed an easement plan and narrative for the Assabet River Homes project and were told that revisions and further refinement of the plan were needed. The board then approved a motion "to authorize the Chair Julie McClure to execute the easement agreement, and bring back to the board if needed." The minutes record a roll call vote of Andrews, Drazen, McClure, Sussman and Smith—each recorded as Aye.
Separately, the board reviewed a revised payment milestone plan presented as the revised Exhibit A to the CHDC–CMAHT Grant Agreement. Following the review, the board approved a motion "to approve the revised Assabet River Homes CHDC and CMAHT Grant Agreement Exhibit A milestone payment schedule as presented." The minutes do not identify who moved or seconded each motion; the vote on this motion is recorded as 5–0 in favor.
The board was also informed that the amendment to the CHDC–CMAHT Grant Agreement concerning the Working Capital Loan (Buy Down) was complete and presented for final approval. The board approved the amendment on a 5–0 roll call vote with the same five members recorded as Aye.
The minutes indicate the board’s intent that the chair may execute the easement agreement and return to the board if further action is required. No dollar amounts, explicit payment dates or mover/second names appear in the minutes for these items; those details are recorded as part of the referenced Exhibit A and the grant amendment documents. The meeting adjourned at 9:19 a.m.
Board members and staff will carry the approved items forward as final documents are completed and as needed for implementation.
