Finance Committee Meeting

Minutes – March 28, 2006

School Administration Building, 7:30 P.M.

Members Present:  Joel Alpert, Maria Anderson, Charles Goodman, Ira Miller, Gloria

                               Rose (Hamilton)

                Absent:   Michael Feldman, Brian Fitzgerald, Kenneth Goldberg, Jonathan

                               Hitter, Joel Lessard, Gregory Sydney

1. This is the 24^th meeting of this fiscal year.  Since there wasn’t a quorum present, there was no voting.

2. Jane Desberg, Executive Director of the Sharon Housing Authority, made a presentation regarding Article 23 on the Warrant about establishing a Trust Fund for 40B affordable housing by the Sharon Housing Partnership.  She explained how the trust fund would work, requiring five to seven trustees including all three Selectmen and use of inclusionary zoning which means that building over six units would require 15% affordable housing.  She also explained the restrictions on the deed.  In case of foreclosure, the owner could only receive what is stated in the deed and if there was excess, it would go into the trust or into the town’s General Fund.  There is also a 120 day limit to sell at a reduced rate.

3. There was much discussion on this article.  Jane Desberg was sending more information for the Finance Committee to be able to make their recommendation.

4. The next meeting will be on Monday, April 3.

5. It was MOVED and SECONDED to adjourn.

6. The meeting adjourned at 8:25 p.m.