OTHERAPPROVED

Hanson Housing Authority Regular Session Agenda May 14 2026

Affordable Housing Property Conveyed to HHADC for $1

$1.00 (purchase price for Property)Hanson Housing AuthorityHANSON HOUSING AUTHORITY DEVELOPMENT CORPORATIONMay 13, 2026

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Description

Hanson Housing Authority approved conveying the six-unit LZ Thomas School Family Housing property to Hanson Housing Authority Development Corporation for $1.00. The transfer is subject to a 30-year affordability covenant requiring continued operation as affordable housing for low-income households.

Contract Details

Contract Amount

$1.00 (purchase price for Property)

Vendor

HANSON HOUSING AUTHORITY DEVELOPMENT CORPORATION

Agency

Hanson Housing Authority, MA

Contract Type

OTHER

Document Date

May 13, 2026

Contract Term

30-year restrictive use covenant

Renewal Date

2056-12-31

Renewal Info

Thirty-year restrictive use covenant governs ongoing affordability requirements tied to the disposition; covenant will limit use for the duration but is not a renewable service contract.

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