Manchester-by-the-Sea Affordable Housing Trust Minutes 2026-03-17
Trust renews CD investment with Cape Ann Savings Bank
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Description
The Affordable Housing Trust approved reinvesting its $210,917 CD maturing April 1, 2026, with Cape Ann Savings Bank into whichever CD term provides the best rate on that date. This action continues the Trust’s use of the bank for secure, interest-bearing investment of its housing funds.
Contract Details
Contract Amount
$210,917 (principal of maturing CD)
Vendor
CAPE ANN SAVINGS BANK
Agency
Town of Manchester-by-the-Sea, MA
Contract Type
FINANCIAL_SERVICES
Document Date
March 17, 2026
Contract Term
To be selected on April 1, 2026 (e.g., 11-month, 9-month, or other CD term)
Renewal Info
Renewal of an existing 9‑month CD into a new CD term at prevailing best rate on April 1, 2026; exact new term to be selected based on available rates.
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