What is the term of office for the trustees of the Housing Trust?

Trustees serve for a term of two years except that three of the initial trustee appointments were appointed for one year in order to stagger terms. They may be re-appointed at the discretion of the Board of Selectmen.

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1. Why is the creation of a local housing trust a benefit to the community?
2. What financial oversight of the trust will be required?
3. Are meetings of the trust subject to the open meeting law?
4. What controls the limits of the Trust’s authority?
5. What is the term of office for the trustees of the Housing Trust?
6. Who would appoint members to the housing trust?
7. Who would be members of the trust?
8. Can’t town staff and town meeting perform these functions now?
9. What funds can be used in a local housing trust?
10. Will the trust’s activities (including potential borrowing or property purchase) have the potential to negatively affect the Town, the Towns financial stability, bond rating or borrowing capacity?
11. What is the advantage to creating a local housing trust when we already have the Danvers Housing Authority?
12. What can a local housing trust do?