Hull Considers Affordable Housing Trust Fund
Proposal aims to tap $500,000 in unspent Community Preservation Act funds
HULL - February 12 - The Hull Affordable Housing Committee presented a proposal to create a municipal housing trust fund at the Select Board meeting on Feb. 12. If approved at the annual town meeting in May, the trust could access nearly $500,000 in unspent Community Preservation Act funds for affordable housing initiatives.
Cynthia Koebert, chair of the Affordable Housing Committee, outlined the purpose of the proposed Hull Community Housing Trust Fund.
"The purpose is to provide for the creation and preservation of affordable housing for the benefit of low and moderate income households, and for the funding of community housing as defined by the Community Preservation Act," Koebert said.
The committee recommends a trust board of seven members, including the Town Manager or designee, a member of the Community Preservation Committee, a member of the Affordable Housing Committee, a member of the Select Board, and three at-large resident trustees.
Bob Paul, another member of the Affordable Housing Committee, emphasized the urgency of addressing housing needs in Hull.
"My clients that are coming in are building big houses here, and tearing down small houses. I think we need to start getting some funds and some community action to save houses, to save some medium income properties in the town, because things are happening very quickly," Paul said.
The creation of a trust fund could help tap what is now close to $500,000 in unspent Community Preservation Act funds reserved for community housing support, preservation, and development.
Koebert explained that the trust fund would complement the Community Preservation Committee but could move more nimbly in the real estate market to maximize housing opportunities.
"A housing trust can dig into the complexities of supporting housing, preservation, and development," Koebert said. "A housing trust can move more nimbly in the real estate market to maximize opportunities for housing, and that has not been achieved to date."
The committee plans to hold two public meetings to explain affordable housing and the trust fund concept. These meetings are scheduled for March 6 and April 10.
Select Board members expressed support for the proposal. Jason McCann praised the committee's efforts, saying, "Thank you so much for doing it. I love the structure that you're proposing to have this board of trustees, this committee of trustees, have three people from the public."
The Select Board voted unanimously to place the proposal on the 2025 Annual Town Meeting Warrant, pending review by town staff and counsel.
In other business, the Select Board:
- Heard a presentation from Tipsy Tuna, a seasonal establishment, on a sound mitigation plan to address noise complaints from neighbors. The board discussed potential solutions, including sound barriers and operating hour adjustments.
- Reviewed a proposal from the Beautification Committee to amend the town's signage bylaws, aiming to limit brightness and movement of illuminated signs and restrict the number of billboards in town.
- Referred two citizen petitions for zoning bylaw amendments to the Planning Board for review.
- Announced that nomination papers for the town election will be available starting February 18.
- Reminded residents that the deadline for submitting citizen petitions for the annual town meeting is 3 p.m. on February 13.
The meeting adjourned with the Select Board expressing appreciation for the volunteer efforts of various committees in addressing town issues.