The Concord Municipal Affordable Housing Trust (CMAHT) was established by the Town’s Affordable Housing Trust Bylaw to provide for the preservation and creation of affordable housing in the Town of Concord for the benefit of low and moderate income households and for the funding of community housing, as defined in the Community Preservation Act, MGL c. 44B. The CMAHT Board of Trustees consists of five members appointed by the Select Board, including one member of the Select Board and the Town Manager.
The Concord Municipal Affordable Housing Trust complements the Town’s existing affordable housing efforts, entities and programs, and can act quickly when affordable housing opportunities arise. The CMAHT’s Board of Trustees is authorized to develop policy goals and statements, consistent with the Town’s adopted housing goals, and subject to approval by the Select Board, to serve as guidelines for the Trust. Select Board approval is also needed for the Trust to borrow money; mortgage or pledge trust assets; purchase, accept, sell, lease, exchange, transfer, abandon, convey interest in real, personal, or mixed property; or to amend the Trust.