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The Trust unanimously approved an amendment allowing it to serve households earning up to 250% of area median income and support projects with year-round occupancy restrictions, defined as occupancy for 10 of every 12 months. It also approved a building assessment contract of up to $30,000 for 14 Somerset Road.
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The amendment broadens the Trust’s ability to support households with incomes up to 250% of the area median income, a standard measure of local income levels. The Trust approved a mortgage discharge tied to an $11,311.12 payoff at 1 Webster Road and approved withdrawing 158 Madaket Road from registered-land status to streamline the project. Members also authorized a comprehensive assessment of 14 Somerset Road before the property is offered to the community.
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