Canton, Massachusetts · Saved source text

December 21, 2020, Finance Committee Meeting - Virtual Meeting. Minutes

Finance Committee · Record date 2020-12-21 · Record 6c9a1cdd357eab4de8

Saved text from 4 source pages. Transcription and OCR may contain errors; verify figures and wording against the original. Retrieved 2026-10-15.

Minutes Voted on: 1/27/21
                                          Canton Finance Committee                             Vote: 7-0-1
                                            801 Washington Street
                                              Canton, MA 02021

                                                  Meeting Minutes
                                                 December 21, 2020


Finance Committee Members Present: David Clough, Dan Cole, Emilio Mauro, Tim McKenna, Reuki Schutt and
Cindy Thomas.

Finance Committee Members Absent: Rob Barker and Wai Wong.

Guests Present:
Ellen Jones, Finance Committee Secretary
Lisa Lopez, Community Preservation Committee
Randy Scollins, Finance Director

Opening: Chair McKenna called the virtual meeting via Zoom to order at 7:02 p.m.

Approval of Agenda: Chair McKenna reviewed the agenda.

New Business

Welcome - New Finance Committee Member – Chair McKenna welcomed new member, Tom Theodore.

Discussion and Appointment of Emilio Mauro as the Finance Committee Liaison to the Master Plan
Implementation Committee

A motion made by Ms. Thomas to recommend Mr. Mauro as the Finance Committee liaison to the Master
Planning Implementation Committee was seconded by Ms. Schutt.

Roll Call Vote:
Mr. Theodore    Aye                 Mr. Clough         Aye
Ms. Schutt      Aye                 Ms. Thomas         Aye
Mr. Mauro       Aye                 Mr. McKenna        Aye
Mr. Cole        Aye
The motion passed 7-0-0.

Housing Trust Presentation – Lisa Lopez

Ms. Lopez gave a Power Point Presentation on the objectives of the town establishing a Canton Housing Trust see
meeting document). She stated that it was not her intention to have a technical discussion of housing but more of a
high level discussion. The Community Preservation Committee would be putting forth an article for the 2021 Annual
Town Meeting and was looking for the support of the Finance Committee.

Ms. Lopez has been working on a housing task force committee with members such as Town Planner Laura Smead,
Planning Board Member Dave McCarthy, Canton Housing Director Mark Roy, Town Administrator Charlie Aspinwall
and Town Counsel Paul DeRensis as well as other individuals. Ms. Lopez gave an over view of residents’ concerns
about housing challenges, Canton having some of the highest rents in the area with median gross rents over $1,600
per month, median sales prices above $600,000 and one-third of Canton residents having salaries below the 80%
AMI (area median income for a family of four of about $96,000). Ms. Lopez also provided statistics regarding owner
households by income and renter households by income.

She further explained that affordable housing is not low-income housing which is considered Section 8 housing, but
that affordable housing is more moderately-priced housing that is price so it can be afforded by a household with an
income of less than 80% AMI.

Canton must still comply with the 10% of housing units being affordable. Currently Canton is at 12%, but is at risk of
falling below that level. As more housing units are developed, the total number of housing units grows or
denominator grows. Not all affordability restrictions are forever. Over the next 15 years restrictions will expire on
approximately 300 Canton units. Without action, Canton could drop to 8.%. The Town needs a plan to buyout
expiring restrictions for conversion to permanent restrictions or add restrictions to current housing units.



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Town Meeting could approve a Housing Trust, with key Select Board involvement and oversight. The Housing Trust
could preserve the inventory of affordable housing and preserve Canton’s current percentage of affordable housing
units as the community grows. Over one-half of Massachusetts cities and towns have Preservation Committees, but
not as many have housing trusts. They will be included this in information provided to Town Meeting. Sharon has a
housing trust as well as the Town of Sherborn, which Town Counsel is very familiar with.

There are large projects that have approximately 300 units that will be falling off the list with restrictions. The state
now requires a minimum of a 30-year restriction. Avalon has a 100-year restriction. Affordable housing units include
both rental as well as owner-occupied units. The state has very strict rules for individuals that are entered into
housing lotteries with the restrictions being tied to the deed of the units.

Canton has 250 units of public housing that are owned by the state for which these 250 units are included in the total
subsidized units of 1,100. The low-income population have more access to affordable housing than the middle
income population.

With regard to the Paul Revere Heritage site, there is one building that will be age-restricted rentals with 25% being
designated as affordable housing, but the Town will receive credit for all of the units in the entire building. However,
the Town would still be at the 8% level of affordable housing units because of other units that will be falling off the list
because of expiring restrictions.

In response to a Finance Committee member’s question as to how much funding the Trust would be looking for at
Annual Town Meeting, Ms. Lopez explained that it would be dependent upon the Housing Action Plan strategies and
objectives identified. Buying out expiring restrictions will require money that could be provided by CPA funds or ATM-
provided funds. Ms. Lopez provided an example such as if a building owner of a large property were going to
refinance a property, the Town of Canton could contribute (such as $100,000) to that refinancing effort in exchange
for an affordability restriction in perpetuity placed on the property. The Housing Trust would have to build up a fund
over time for consideration of projects. The Town of Easton has a first-time home owner program. Residents or
employees in a town that meets income and asset allocations seeking to buy their first home but could not make the
down payment or deposit could apply to a Housing Trust in exchange for a restriction being placed on the home.

In response to another Finance Committee’s inquiry about the Community Preservation funds balance, Ms. Lopez
stated that the Town has annually, as required under CPA, been setting aside 10% of CPA funds towards community
housing. Every year the CPA committee has received requests only from the Canton Housing Authority (CHA).
Although some Annual Town Meeting attendees have frowned upon the use of these funds towards state-owned
public housing, Ms. Lopez was happy to report that one of the projects came in at $45,000 less than estimated by the
CHA. The $45,000 remaining funds were then used to fund the emergency rental assistance program.

Finance Committee (#131) - Budget Recommendation for FY22
Mr. Scollins stated that the budget recommended for FY22 of $12,500 would be sufficient based on the actual
expenses for the past few years.

A motion made by Ms. Thomas to recommend a Finance Committee FY22 budget of $12,500 was seconded
by Ms. Schutt.
Roll Call Vote:
Mr. Theodore    Aye           Mr. Clough     Aye
Ms. Schutt      Aye           Ms. Thomas     Aye
Mr. Mauro       Aye           Mr. McKenna    Aye
Mr. Cole        Aye
The motion passed 7-0-0.

Finance Committee Reserve Fund (#132) - Budget Recommendation for FY22
Mr. Scollins stated that the Reserve Fund budget for FY18 was $500,000, for FY19 $500,000 and for FY20 $700,000.
The $200,000 increase from FY19 to FY20 was to cover expenses for a possible increase to the trash contract, but
that did not take place. He further explained that if there had not been an on-going pandemic he would have
recommended an FY22 budget of $500,000 but given the COVID pandemic he was suggesting that an FY22 budget
of $600,000 would be sufficient but would defer to the Finance Committee.

A motion made by Ms. Thomas to recommend a Finance Committee Reserve Fund FY22 budget of $600,000
was seconded by Ms. Schutt.
Roll Call Vote:
Mr. Theodore    Aye           Mr. Clough     Aye
Ms. Schutt      Aye           Ms. Thomas     Aye
Mr. Mauro       Aye           Mr. McKenna    Aye
Mr. Cole        Aye
The motion passed 7-0-0.

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The $600,000 for FY22 was not affected by a vote taken by the Finance Committee on October 22, 2020 to approve
a transfer of $230,000 from the Finance Committee Reserve Fund to the School Department for COVID expenses
because this was from the FY21 Reserve Fund budget.

Finance Committee Liaison Assignments – Chair McKenna stated that the responsibility of the Finance Committee
liaison was to contact department managers to discuss any short-term or long-term budget issues they may have for
their departments. The following Finance Committee members volunteered to be liaisons to various departments.

Board of Health – Reuki Schutt
Building Department – Reuki Schutt
School Department – Cindy Thomas
Parks & Recreation – Tom Theodore
Council on Aging – Tom Theodore
Library – Dave Clough
Planning Board – Emilio Mauro

The final liaison list would be emailed to Finance Committee members and posted on the Town’s website.

Discussion of Finance Committee Meeting Schedule – Mr. Scollins stated that the operating budget books were
scheduled to be delivered to the Finance Committee by January 19 and that prior to that date budget discussions
would occur with himself, the Town Administrator and department managers. Chair McKenna suggested having a
standing night of the week for the Finance Committee to hold their budget review meetings. It was decided that
Wednesday nights would be scheduled for the meetings and that they could be cancelled if the meetings were not
needed.

Approval of Minutes

A motion made by Mr. Mauro that the July 30, 2020 minutes be approved as written was seconded by Ms.
Thomas.
Roll Call Vote:
Mr. Theodore    Abstain         Mr. Clough       Aye
Ms. Schutt      Aye             Ms. Thomas       Aye
Mr. Mauro       Aye             Mr. McKenna      Aye
Mr. Cole        Aye
The motion passed 6-0-1.

A motion made by Mr. Mauro that the October 22, 2020 minutes be approved as written was seconded by Ms.
Thomas.
Roll Call Vote:
Mr. Theodore    Abstain         Mr. Clough       Aye
Ms. Schutt      Aye             Ms. Thomas       Aye
Mr. Mauro       Aye             Mr. McKenna      Aye
Mr. Cole        Aye
The motion passed 6-0-1.

Next Meeting Date – The next Finance Committee meeting would take place on January 20, 2020.

Adjournment - A motion made by Mr. Clough to adjourn the meeting at 8:16 p.m. was seconded by
Mr. Mauro.
Roll Call Vote:
Mr. McKenna     Aye              Mr. Mauro       Aye
Ms. Thomas      Aye              Ms. Schutt      Aye
Mr. Clough      Aye              Mr. Theodore    Aye
Mr. Cole        Aye
The motion to adjourn at 8:16 p.m. passed 7-0-0.

Minutes reviewed by: Tim McKenna

Respectfully submitted,



Timothy McKenna
Chair, Canton Finance Committee



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Canton Finance Committee Meeting
                                                December 21, 2020

Please note: Some meeting documents may be found on the Town’s website under the Posted Minutes
section (Laser Fiche).

Agenda for December 21, 2020 (1 page).

Master Plan Implementation Committee Appointments (1 page).

Implementing the Action Plan (1 page).

Preserving Canton Housing – PowerPoint Presentation by Lisa Lopez (18 pages).

Proposed FY22 Budget – Finance Committee (#131) (1 page).

Proposed FY22 Budget – Reserve Fund (#132) (1 page).

FY22 Budget Milestone Calendar provided by Randy Scollins, Finance Director (1 page).

Draft Finance Committee Liaison List (1 page).




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