[HISTORY: Adopted by the Town Meeting of the Town of North
Andover as indicated in article histories. Amendments noted where
applicable.]
The Trust shall be called the "Town of North Andover Affordable
Housing Trust Fund."
[Amended 6-17-2021 ATM by Art. 7]
The purpose of the Trust shall be to provide for the preservation,
creation and use of affordable housing in the Town of North Andover
for the benefit of low- and moderate-income households and for the
funding of community housing, as defined and in accordance with the
provisions of MGL c. 44B. In furtherance of this purpose, the Trustees
are hereby authorized, in accordance with the procedures set forth
herein, to acquire by gift, purchase or otherwise real and personal
property or money, both tangible and intangible, of every sort and
description; and to use such property, both real and personal, and
money, in such manner as the Trustees shall deem appropriate to carry
out such purpose; provided, however, that all property held by the
Trust and the net earnings thereof shall be used exclusively for the
preservation, creation, support and use in the Town of North Andover
of affordable housing for the purposes for which this Trust was formed.
[Amended 6-17-2021 ATM by Art. 7]
There shall be a Board of Trustees consisting of not less than
five Trustees nor more than seven Trustees who shall be appointed
by the Select Board. At least one of the Trustees shall be a member
of the Select Board. Only persons who are residents of the Town of
North Andover shall be eligible to hold the office of Trustee. Trustees
shall serve for a term of two years, except that two of the initial
Trustee appointments shall be for a term of one year, and may be reappointed
at the discretion of the Select Board. Any Trustee who ceases to be
a resident of the Town of North Andover shall cease to be a Trustee
hereunder and shall promptly provide a written notification of the
change in residence to the Board and to the Town Clerk. Any Trustee
may resign by written instrument signed and acknowledged by such Trustee
and duly filed with the Town Clerk. If a Trustee shall die, resign,
or for any other reason cease to be a Trustee hereunder before his/her
term of office expires, a successor shall be appointed by the Select
Board to fill such vacancy, provided that in each case the appointment
and acceptance in writing by the Trustee so appointed is filed with
the Town Clerk. No such appointment shall be required so long as there
are five Trustees in office. Upon the appointment of any succeeding
Trustee and the filing of such appointment, the title to the Trust
estate shall thereupon and without the necessity of any conveyance
be vested in such succeeding Trustee jointly with the remaining Trustees.
Reference to the "Trustee" shall mean the Trustee or Trustees for
the time being hereunder. Nothing in this section shall prevent a
Select Board from appointing the Town Manager as a member or Chair
of the Board, with or without the power to vote.
[Amended 6-17-2021 ATM by Art. 7]
The Trust shall meet at least quarterly at such time and at
such place as the Trustees shall determine. Notice of all meetings
of the Trust shall be given in accordance with the provisions of the
Open Meeting Law, MGL c. 30A, §§ 18 to 25. A quorum
at any meeting shall be a majority of the Trustees qualified and present
in person.
[Amended 6-17-2021 ATM by Art. 7]
The Board of Trustees shall have the following powers, which
shall be carried out in accordance with and in furtherance of the
provisions of MGL c. 44, § 55C, and MGL c. 44B:
A.
With the approval of the Select Board and Finance Committee, to accept
and receive real property, personal property or money, by gift, grant,
contribution, devise or transfer from any person, firm, corporation
or other public or private entity, including but not limited to money,
grants of funds or other property tendered to the Trust in connection
with any ordinance or bylaw or any general or special law or any other
source, including money from MGL Chapter 44B; provided, however, that
any such money received from Chapter 44B on or after 2016 shall be
used exclusively for community housing and shall remain subject to
all the rules, regulations and limitations of that chapter when expended
by the Trust, and such funds shall be accounted for separately by
the Trust; and provided further that at the end of each fiscal year,
the Trust shall ensure that all expenditures of funds received from
said Chapter 44B are reported to the Community Preservation Committee
of the Town for inclusion in the Community Preservation initiatives
report, Form CP-3, to the Department of Revenue;
B.
With the approval of the Select Board, to purchase and retain real
or personal property, including without restriction investments that
yield a high rate of income or no income;
C.
With the approval of the Select Board and Finance Committee, to sell,
lease, exchange, transfer or convey any real property at public auction
or by private contract for such consideration and on such terms as
to credit or otherwise, and to make such contracts and enter into
such undertakings relative to Trust real property as the Trustees
deem advisable, notwithstanding the length of any such lease or contract;
D.
With the approval of the Select Board, to sell, lease, exchange,
transfer, or convey any personal property at public auction or by
private contract for such consideration and on such terms as to credit
or otherwise, and to make such contracts and enter into such undertakings
relative to Trust personal property, notwithstanding the length of
any such lease or contract;
E.
To execute, acknowledge and deliver deeds, assignments, transfers,
pledges, leases, covenants, contracts, promissory notes, releases,
grant agreements and other instruments, sealed or unsealed, necessary,
proper or incident to any transaction in which the Board engages for
the accomplishment of the purposes of the Trust;
F.
To employ advisors and agents, such as accountants, appraisers and
lawyers, as the Trustees deem necessary;
G.
To pay reasonable compensation and expenses to all advisors and agents
and to apportion such compensation between income and principal as
the Trustees deem advisable;
H.
To apportion receipts and charges between income and principal as
the Trustees deem advisable, to amortize premiums and establish sinking
funds for such purpose, and to create reserves for depreciation depletion
or otherwise;
I.
With the approval of the Select Board, to participate in any reorganization,
recapitalization, merger or similar transactions; and to give proxies
or powers of attorney with or without power of substitution, to vote
any securities or certificates of interest, and to consent to any
contract, lease, mortgage, purchase or sale of property, by or between
any corporation and any other corporation or person;
J.
With the approval of the Select Board, to deposit any security with
any protective reorganization committee, and to delegate to such committee
such powers and authority with relation thereto as the Trustees may
deem proper and to pay, out of Trust property, such portion of expenses
and compensation of such committee as the Board, with the approval
of the Select Board, may deem necessary and appropriate;
K.
To carry property for accounting purposes other than acquisition
date values;
L.
With the approval the Select Board and the approval of Town Meeting
by a two-thirds majority vote, to incur debt, to borrow money on such
terms and conditions and from such sources as the Trustees deem advisable,
and to mortgage and pledge Trust assets as collateral;
M.
With the approval of the Select Board, to disburse Trust funds for
the purpose of making loans or grants in furtherance of the creation,
support or preservation of affordable housing in North Andover upon
such terms as the Trustees shall deem most appropriate to carry out
such purposes;
N.
To make distributions or divisions of principal in kind;
O.
To comprise, attribute, defend, enforce, release, settle or otherwise
adjust claims in favor or against the Trust, including claims for
taxes, and to accept any property, either in total or partial satisfaction
of any indebtedness or other obligation, and subject to the provisions
of MGL c. 44, § 55C, to continue to hold the same for such
period of time as the Board may deem appropriate;
P.
To manage or improve real property and, with the approval of the
Select Board and Town Meeting, to abandon any property which the Trustees
determine not to be worth retaining;
Q.
To hold all or part of the Trust property uninvested for such purposes
and for such time as the Trustees may deem appropriate; and
R.
To extend the time for payment of any obligation to the Trust.
Notwithstanding any general or special law to the contrary,
all moneys paid to the Trust in accordance with any zoning bylaw,
exaction fee, or private contribution shall be paid directly into
the Trust and need not be appropriated or accepted and approved into
the Trust. General revenues appropriated into the Trust become Trust
property and these funds need not be further appropriated to be expended.
All moneys remaining in the Trust at the end of any fiscal year, whether
or not expended by the Board within one year of the date they were
appropriated into the Trust, remain Trust property.
A majority of Trustees may exercise any or all of the powers
of the Trustees hereunder and may execute on behalf of the Trustees
any and all instruments with the same effect as though executed by
all the Trustees. No Trustee shall be required to give bond. No license
of court shall be required to confirm the validity of any transaction
entered into by the Trustees with respect to the Trust estate.
Neither the Trustees nor any agent or officer of the Trust shall
have the authority to bind the Town, except in the manner specifically
authorized herein. The Trust is a public employer and the Trustees
are public employees for the purpose of MGL Chapter 258. The Trust
shall be deemed a municipal agency and the Trustees special municipal
employees for the purposes of MGL Chapter 268A.
The Trust is exempt from MGL Chapter 59 and Chapter 62, and
from any other provisions concerning payment of taxes based upon or
measured by property or income imposed by the commonwealth or any
subdivision thereto.
The Town Treasurer shall be the custodian of the funds of the
Trust. The books and records of the Trust shall be audited annually
by an independent auditor in accordance with accepted accounting practices
for municipalities.
[Amended 6-17-2021 ATM by Art. 7]
The Trust is a governmental body for purposes of MGL c. 30A,
§§ 18 to 25.
The Trust is a board of the Town for purposes of MGL Chapter
30B and MGL c. 40, § 15A; but agreements and conveyances
between the Trust and agencies, boards, commissions, authorities,
departments and public instrumentalities of the Town shall be exempt
from said Chapter 30B.
[Amended 6-17-2021 ATM by Art. 7]
This Trust shall be of indefinite duration, until terminated
in accordance with applicable law. Upon termination of the Trust,
subject to the payment of or making of provisions for the payment
of all obligations and liabilities of the Trust and the Trustees,
the net assets of the Trust shall be transferred to the Town and held
by the Select Board for affordable housing purposes. In making any
such distribution, the Trustees may, subject to the approval of the
Select Board, sell all or any portion of the Trust property and distribute
the net proceeds thereof or they may distribute any of the assets
in kind. The powers of the Trustees shall continue until the affairs
of the Trust are concluded.
[Amended 6-17-2021 ATM by Art. 7]
The Select Board may authorize the Trustees to execute, deliver
and record with the Registry of Deeds any documents required for any
conveyance authorized hereunder or to carry out the purposes and powers
of the Trust.
The titles to the various sections herein are for convenience
only and are not to be considered part of said sections nor shall
they affect the meaning or the language of any such section.
There are hereby established in the Town of North Andover, pursuant
to the provisions of MGL c. 44, § 53E 1/2, the following
revolving funds:
|
Revolving Fund
|
Spending Authorized
|
Revenue Source
|
Allowed Expenses
|
|---|---|---|---|
|
Wheelabrator - Planning
|
Director - Community Development
|
Wheelabrator Host Community Agreement
|
Air quality monitoring
|
|
Wheelabrator - Public Safety
|
Director - Community Development
|
Wheelabrator Host Community Agreement
|
To enforce trash truck regulations
|
|
Health Department - Food Inspections
|
Director - Community Development
|
Inspection fees
|
Food consultant fees and expenses related to program
|
|
Health Department - Septic Inspections
|
Director - Community Development
|
Inspection fees
|
Septic consultant fees and expenses related to program
|
|
Field Maintenance
|
Director - Division of Public Works
|
Field rental fees, grants, donations, and related fund-raising
proceeds
|
Field maintenance, upgrade and related expenses
|
|
Health Department - Revolving
|
Director - Community Development
|
Clinic participant fees, grants, donations, and related fund-raising
proceeds
|
Clinic supplies and other related materials
|
|
Youth and Recreation Services - Revolving
|
Director - Division of Public Works
|
Participant fees, grants, donations, and related fund-raising
proceeds
|
All programs and activities, expenses, part-time help
|
|
Elder Services - Council of Aging Revolving
|
Director of Human Services
|
Participant fees, grants, donations, and related fund-raising
proceeds
|
Senior programs, classes and activities
|
|
Fire Department
|
Fire Chief
|
Chapter 21E reimbursements
|
Ambulance supplies and other related materials
|
|
School Department
|
Superintendent
|
Medicaid reimbursements
|
Curriculum
|
|
Stormwater Bylaw
|
Director - Community Development
|
Review fees
|
Review, test and inspect stormwater reports
|
