September 29, 2022 |City of Lynn, From the Mayor, Housing, News

Affordable Housing Trust Fund Board of Trustees Appointments

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Mayor Jared Nicholson announced appointments to the Board of Trustees for the newly established Affordable Housing Trust Fund at Tuesday’s City Council Meeting. The Affordable Housing Trust Fund, which was a recommendation from the City’s housing production plan, Housing Lynn, was established by an ordinance adopted by the Council in June of this year.

Mayor Nicholson will serve as Chair and has appointed Cinda Danh, Jonathan Feinberg, Jamie McGrath, Sarai Zelada, and a member of the City’s Planning Department to serve 2-year terms on the Board.

The appointees come from all parts of the City and represent the diversity of Lynn, including members who are multilingual, renters, and homeowners. Each of these Board of Trustees appointees has a variety of experience working within the Lynn community. Among their experiences are community development, affordable housing advocacy, and tenant organizing.

“I am excited about the potential that this Board has to address the ongoing affordability crisis here in the City of Lynn,” said Mayor Jared Nicholson. “The work that this Board will be doing is pivotal to the lives of so many residents and we have a real opportunity to create housing that is equitable and affordable to those in the City who have long been burdened by the skyrocketing costs of housing.”

The Board is tasked with providing for the creation and preservation of affordable housing within the City of Lynn for the benefit of low-to-moderate income households and for the funding of community housing.

Additionally, the Board will address the goals and objectives of the City’s housing production plan, Housing Lynn, which was adopted by the City Council in September 2021 and approved by the Massachusetts Department of Housing and Community Development in the spring.

Earlier this year, the Development Team of the City was able to negotiate a $3 million contribution to the Affordable Housing Trust Fund by Second Street Properties for its project at 811 Lynnway. The Board will be in charge of overseeing these funds, and additional contributions to the Fund, and devising a strategic plan to utilize this capital to create more affordable housing opportunities for residents with an emphasis on overcoming the challenges of affordability, equity, and resilience.

“As a current renter and someone who grew up in Curwin Circle, and experienced housing insecurity due to foreclosure, I look forward to working with fellow members of the AHTF to ensure equitable economic development,” said new Board member Cinda Danh.

The above press release was submitted to us by Mayor Nicholson’s office.