Lexington Select Board unanimously approves Affordable Housing Trust goals for FY26

LEXINGTON -- October 17, 2025, Lexington Select Board approves Affordable Housing Trust's fiscal 2026 goals, including a $100,000 rental assistance pilot. The board voted 4-0 Friday, with member Vanita Kumar absent, to endorse the trust's high-level goals, creation of affordable housing, a pilot tenant rental assistance program, and a long-term strategic plan, while requiring any specific program to return for board review before launch. Affordable Housing Trust Chair Elaine Tung and Vice Chair Linda Prosnitz outlined negotiations with MBTA Communities Act developers for buy-down agreements and continued work on the 100-percent affordable Lowell Street Parcel 6844 development. The board also opened and closed a public hearing on proposed FY26 water rate increases of 3.6 percent and sewer increases of 3.4 percent, adding roughly $37 annually to the average household bill, with a final vote set for November 3. Assistant Town Manager for Finance Carolyn Kosnoff reported FY25 water revenues came in $1.9 million above projections, with retained earnings projected at approximately $3.5 million, earmarked for future water tower refurbishment.