Will the trust’s activities (including potential borrowing or property purchase) have the potential to negatively affect the Town, the Towns financial stability, bond rating or borrowing capacity?

This question was forwarded to Town Counsel and his written opinion in part stated "On general, 'trust principles', the trust is a separate legal entity from the person or persons creating it. Therefore, in a legal sense, an Affordable Housing Trust created by a Municipality under C. 44, section 55C of the Mass. General Laws is a separate legal entity from the town or city, which chooses to create it." Thus it was his opinion that the financial actions of the Trust would not impact the Town's financial options.

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1. Why is the creation of a local housing trust a benefit to the community?
2. What financial oversight of the trust will be required?
3. Are meetings of the trust subject to the open meeting law?
4. What controls the limits of the Trust’s authority?
5. What is the term of office for the trustees of the Housing Trust?
6. Who would appoint members to the housing trust?
7. Who would be members of the trust?
8. Can’t town staff and town meeting perform these functions now?
9. What funds can be used in a local housing trust?
10. Will the trust’s activities (including potential borrowing or property purchase) have the potential to negatively affect the Town, the Towns financial stability, bond rating or borrowing capacity?
11. What is the advantage to creating a local housing trust when we already have the Danvers Housing Authority?
12. What can a local housing trust do?