Who would be members of the trust?

The trust consists of seven voting trustees. The Board's membership would always include one member of the Board of Selectmen and one representative from the Danvers Housing Authority. The Town Manager, or his designee, would serve as a non-voting member. Remaining trustees must be Danvers' residents with expertise and experience relative to housing management and development, to include attorneys, contractors, realtors, and financial professionals.

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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?