Present:

• Jay Bikofsky, Chair
• Patrick White
• Mark Mills
• Nancy Socha
• Michael Canales

1. Minutes from January 27 approved
2. Chair introduced agenda item: go through the Trust Document, answer lingering questions, and approve. It then goes to SB for final approval
3. According to Town Counsel (TC), name must include word “affordable”
4. Name: Stockbridge Affordable Housing Trust Fund
5. Number of Trustees: 7
6. Make up: 7 residents that appears to exclude second homeowners
7. Change: 5 residents and up to 2 non-residents. Moved and passed
8. Point of information: MA General Law requires that in first year: 3 serve 3 years, 2 serve 2 years, and rest serve 1 year. After that all serve 3 years
9. Point of information: Any conveyance — sale, lease, or exchange, requires 5 Trustees to vote yes
10. Once document approved, work of this committee ends, and SB appoints the Trustees
11. Questions?
    1. Can Stockbridge partner with other towns? No, not as long as taking CPC money which must be spent on affordable housing in Stockbridge
    2. Can the Trust own property and collect rents? Yes
    3. Are the Trustees insured against lawsuits? Yes
12. Voted to approve document and send to SB subject to TC’s wording of the one section changed e.g., 5 of 7 residents, up to 2 nonresidents.

Meeting adjourned