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Cash to Acquire Barrington Homes Tops Housing Board's Docket

The Barrington Housing Board of Trustees meets tonight in the Senior Center to decide if it wants to try to acquire homes and make them affordable.

Barrington Housing Board of Trustees. Credit: W.Rupp
Barrington Housing Board of Trustees. Credit: W.Rupp

The Housing Board of Trustees meet tonight, Dec. 17, to determine if they should request a workshop with the Barrington Town Council on a proposal that could get the town into the real estate business. 

The meeting starts at 7 pm. It will take place in the Senior Center in the lower level of the library building.

The plan revolves around an idea to acquire existing Barrington homes that would become deed-restricted affordable homes. 

To make that happen, the town will need some “seed money” or working capital in a revolving fund for the real estate venture to get started, said Steve Martin, chairman of the Housing Board. 

“It could require a fair amount of money,” Martin said previously. “And we might have to be the bank with a guarantee from the Town Council. A local subsidy actually gives us a lot more control.” 

The Housing Board also is expected to hear a summary of the State Housing Appeals Board hearing last Friday, Dec. 13, on the condo development proposed for Nockum Hill by North End Holdings. “The Residences at the Preserve” was rejected by the Planning Board in August of 2012 and appealed by the developer about two months later.

The hearing involved oral arguments by attorneys for North End Holdings and Barrington. A decision is expected early next month, according to Andrew Teitz, the solicitor to the Planning Board.

Here is the complete agenda for tonight’s meeting:

HOUSING BOARD OF TRUSTEES

Tuesday, December 17

7 pm

Senior Center

281 County Road

AGENDA 

  • Call Meeting to order 
  • Announcements 
  • Review and Approval of November 19, 2013, meeting minutes
  • Discussion and vote on request for workshop with Town Council on funding options for revolving fund for capturing existing properties 
  • Goals for 2014 
  • SHAB hearing on North End Holdings proposed project
  •  Adjourn meeting
readmylips December 17, 2013 at 09:06 AM
The Barrington Times has two letters posted in recent weeks, one from the Town Council President and Vice President, confirming that affordable housing is little more than a state goal, not a mandate. So why are we getting involved in this financially? What is the purpose?
Bill December 17, 2013 at 12:38 PM
The town can buy my house for 500,000 then sell it back to me for 100,000 and we can call it an "Affordable home"!!!

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