Trust forwards Powder House Lane agreement; debates land consultant, eyes New England Power site
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, reported from the official video recording and transcript.
Keep reading with a 14-day free trial
Subscribe to Manchester-by-the-Sea News to keep reading this post and get 14 days of free access to the full post archives.
A subscription gets you:
- Subscriber-only posts and full archive
- Post comments and join the community
- 24x7 access to local news