 Hi, I'm Jennifer rate and the director of planning and community development for the town of Arlington, and I will be taking you through warrant article eight for the 2020 special town meeting. Article eight is to develop a municipal affordable housing trust fund for Arlington. Article eight is a proposal to adopt that general chapter for section to create a new to establish the governing body of the municipal affordable housing trust, enumerated authorities and responsibilities and to set forth criteria for the proposed board of trustees. The trust is a public entity subject to public procurement, designer selection, conflict of interest and open meeting laws. There are many tools that are needed in order to create and preserve affordable housing. Arlington has some of those tools and resources that many tools are needed in order to support affordable housing. A municipal affordable housing trust fund as proposed in warrant article eight is part of that toolbox. The housing production plan which was adopted in 2016 by the select board and the Arlington redevelopment board, and then approved by the Massachusetts Department of Housing and Community Development identifies establishing a municipal affordable housing trust fund as one of its key strategies. The housing plan implementation committee works to implement the housing production plan. Its members are shown here and it's administered and coordinated by Aaron's work go from the Department of Planning and Community Development. The housing plan implementation committee drafted this bylaw, it was amended by the finance committee as well as the select board. There are many examples of successful housing trusts operating across the Commonwealth in communities of all sizes. 115 towns and cities total have accepted affordable housing trust state statutes. 77% of these municipalities have also adopted the Community Preservation Act. Arlington affordable housing trust fund proposes to provide for the preservation and creation of affordable housing in the town, as defined by the Arlington zoning bylaw for the benefit of households earning at or below 80% of the area median income. The trustees include eight members who will serve for two year terms. One will be an ex officio non voting member and seven will be voting members as designated by the select board with one select board member serving and six other members representing residents or representatives of local housing organizations with a diverse range of communities. And in order to advance the purpose and goals of the trust it's also critical to have at least one person who's earning a lower moderate income and resides in housing that's defined as affordable by chapter 40 B, or receives a federal subsidy or state subsidy, and who has knowledge of rental and tenant issues, at least two representatives also who are serving will be from local housing organizations. It includes a range of revenues. It includes special bylaw ordinance payments, short term rental fees, Community Preservation Act funds donations grants real estate transfer fees even the trust can receive revenue to expand on a rolling basis consistent with the powers enumerated in the bylaw. The select board has an important role in relationship to the trust. It appoints a removes trustees, approves the declaration of trust, which is a policy goals and guidelines that are consistent with the town's adopted housing goals and strategies, approves borrowing and all real estate activities. It also appoints the annual auditor and reviews and accepts quarterly reports from the town comptroller. The town treasurer tax collector is the custodian of all trust funds. Annual reports will be provided to town meeting. The trust can participate in a range of activities, making timely decisions as critical to the operation of the trust in order to engage in acquiring or preserving market rate affordable housing units, or providing value down assistance or first time home buyer through buying down the price of a property, providing the town with the opportunity to serve as a vehicle to aggregate existing resources while leveraging new public and private resources support our existing housing organizations and others. The trust can also apply for CPA funds in accordance with the trust action plan. There are many successful examples of housing trusts operating throughout the Commonwealth, engaging in acquisition, adoptive reuse of properties to preserve affordable housing and create new housing, preserving affordable housing in non age restrictions buildings and engaging in a range of supportive activities, including pre development and rental assistance. Following town meetings acceptance of this bylaw, the Attorney General's office must approve the bylaw and then the trustees will be appointed and a declaration of trust developed and reported. In summary, the trust is complimentary to Arlington's existing affordable housing initiatives, entities and programs, and it can help to demonstrate an affirmative commitment to supporting and helping individuals and households who make a lower income to achieve housing stability. The trust will help the town to have more efficient and effective mechanisms for investing in affordable housing, which in turn will remove barriers to creating and preserving affordable housing that you will vote favorably for article eight to establish the Arlington Municipal Affordable Housing Trust Fund. Thank you.