Trust forwards Powder House Lane agreement; debates land consultant, eyes New England Power site
Affordable Housing Trust reinvests maturing certificate of deposit and readies Powder House Lane Regulatory Agreement for state submission. Sarah Mellish reported the Select Board-approved agreement is poised for delivery; the Trust rejected an external consultant for its Strategic Plan, deciding
Affordable Housing Trust · Meeting of March 17, 2026
MANCHESTER BY THE SEA — Affordable Housing Trust reinvests maturing certificate of deposit and readies Powder House Lane Regulatory Agreement for state submission. Sarah Mellish reported the Select Board-approved agreement is poised for delivery; the Trust rejected an external consultant for its Strategic Plan, deciding instead to identify properties internally before engaging experts. Director of Land Management Marc Resnick pitched a 3.5-acre New England Power property at 163 Pine Street, estimating it could hold five to six townhouse units, and the Trust authorized outreach to gauge the utility company's interest.
Joan McDonald reported a balance of $1,750,223.63, with a $210,917 nine-month CD maturing April 1; trustees voted to reinvest at the best rate available on that date, whether 11 months, nine months, or another term.
In the full story:
- The complete report — 338 words
Source: the Affordable Housing Trust meeting of March 17, 2026, compiled from the official minutes.
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