Notes from the Stockbridge Housing Trust Fund Committee, November 5, Hybrid meeting

Present:

• Jay Bikofsky, Chair
• Patrick White
• Nancy Socha
• Tom Sharpe
• Mark Mills

Also present Michael Canales, Town Administrator and Andrea Lindsay

1. Chair reviewed the history of this committee — "refresh as to what happened".
   1. At the June 12th Town Meeting (Warrant article #20), $100,000 was appropriated for the Housing Trust Fund from the Community Preservation Committee funds.
   2. Now have to set up the Stockbridge Trust Fund per the Commonwealth Operational Manual and the Funds established in Williamstown, Great Barrington, and Lenox.
   3. First step: Declaration of Trust — Chair suggested he and Canales write a draft to submit to Committee.
2. White suggested a multifaceted approach that met the unique needs of Stockbridge. For example: the law only allows assistance given for purchase of affordable housing. Question: is there affordable housing now in Stockbridge or would a multi-faceted approach include building affordable housing?
3. Other unique characteristics of Stockbridge real estate market were discussed. For example, growth in Stockbridge is driven by single family homes not mixed-use developments, and the market is "distorted" by disparity between assessed values of second homes and primary homes.
4. After discussion, it was determined the draft declaration would be written and presented to Committee for approval, and then further steps taken to establish scope and responsibilities of committee, to submit to Town Counsel for approval and then to Select Board for submission to Town Meeting as a new Bylaw.

Meeting adjourned

Merwin House. Photo: Patrick White.