Lexington Affordable Housing Trust Approves $1 Million Zero-Percent LexHAB Loan Commitment

LEXINGTON — June 18, 2026 — Lexington Affordable Housing Trust approves $1 million zero-percent loan to LexHAB for ADU and renovation program. The Trust voted unanimously 4-0 at its June 18 meeting to issue a commitment letter to LexHAB for a loan of up to $1 million at zero percent interest, with the term to be negotiated. Chair Elaine Tung also reported that the Historical Commission voted 4-1 the prior evening to add Parker Manor Condominiums — an 11-affordable-unit building with all 28 units on the town's Subsidized Housing Inventory — to the Cultural Resources Survey without a demolition delay exemption, meaning exterior renovations now require commission approval under a 21-month delay bylaw. "There's no appeal. I worked all day yesterday on it," Tung told trustees. The board separately authorized payment of $1,650 in consulting invoices from Bonds and Company for MBTA buy-down work, and voted 5-0 to enter executive session on MBTA multi-family development buy-down negotiations. In a wide-ranging strategic planning discussion, trustees coalesced around three top-level goals — preservation, creation, and financial strength — with trustee Mark Sandeen noting that achieving the town's True 10 affordable housing target within 20 years would require at least $7 million per year in new funding.