The Wayland Municipal Affordable Housing Trust Fund Board was established by a vote of the April 2014 Annual Town Meeting. On May 12, 2014, the Board of Selectmen voted approval of the following charge.
The purpose of the Trust is to provide for the creation and preservation of affordable housing in the Town of Wayland for the benefit of low and moderate income households. The Trust is governed by a Board consisting of seven trustees appointed by the Board of Selectmen. At least one trustee will be a member of the Board of Selectmen.
The Board will strive for geographical diversity for the benefit of the entire Town, and give preference to a member of the Wayland Housing Authority, a member of the Planning Board, and a member of the Housing Partnership, each serving an initial one-year term, and three residents, each serving a two-year term, one of whom is a real estate specialist licensed to practice law in the Commonwealth of Massachusetts and one of whom should have a background in financial management. The Trustees will serve terms beginning on July 1, 2014. Future appointments will be staggered upon the expiration of the terms and will thereafter consist of two-year terms. There will be no limit on the number of terms served by an individual trustee.