Gloucester trust panel to offer Huntress Fund income for senior housing

Gloucester's Board of Commissioners of Trust Funds, the small volunteer board that watches over old bequests left to the city, agreed Oct. 6 to start spending the income of its largest fund on housing help for low income seniors. The commissioners also learned that a payment they approved months ago for the library never went out.

What happened

• The commissioners agreed to adopt a member's memo that combines the small Fernald Fund, about $95,000, with the Huntress Fund for the aged poor, which holds about $888,000 of principal and about $396,000 of built up income.
• They approved sending requests for proposals to Action Inc. and the Gloucester Housing Authority for projects that help low income elderly residents get or keep housing, with a budget of $50,000 to $80,000 a year for each.
• A $10,000 payment from the Hovey Fund toward the Sawyer Free Library project, approved earlier this year, was never made by the treasurer's office. The board voted to raise the request to $15,000 and to follow up.
• The next meeting is Nov. 10 at 9:30 a.m.

Money that sat for decades

The Huntress Fund, as the commissioners described it, has income that keeps building because the fund's investments throw off earnings while the principal cannot be touched. Only the income can be given out, and the board can do that on its own. Changing what the Fernald Fund is for takes a petition to the state attorney general's office, since that fund was left for the poor of Annisquam and had not made a gift in about 20 years.

The memo from Commissioner Rocco DeFilippis, listed on the agenda, gave three options. One commissioner argued that sending the Fernald money alone to a housing agency, a one time $95,000, would not do much against housing costs, while the Huntress income could support programs year after year. The board chose that path.

The request for proposals will go out as two separate letters. Each agency will be asked to describe a program or project for low income elderly residents, how it fits the agency's mission, who will benefit and how, with an annual project budget of $50,000 to $80,000, and to send a progress report at six months and at year end. Commissioners said a report would tell them whether to keep going and would support a later petition to close out the fund entirely. One commissioner read from the agencies' own materials: the Housing Authority's senior supportive housing at McPherson Park pays for a case manager to help elderly tenants stay independent, and Action owns affordable housing units and helps residents with rent and heating bills.

The missing library payment

Earlier this year the board asked the treasurer's office to move $10,000 of Hovey Fund income to the city to reduce what the city borrowed for the library project. The commissioners said the payment never happened and the office has not answered their emails since a staff change. The June 30 report showed $19,348 of Hovey income, so the board voted to ask for a total of $15,000, which helps toward its goal of bringing the whole fund under $75,000, the level at which it can be closed without going to court. Commissioners also said a disbursement promised to the School Committee is still waiting.

A commissioner will email the acting treasurer again. If nothing moves in a couple of weeks, the board plans to raise it with the mayor.

Other funds

• Margaret Irving Powers Memorial Fund: the Department of Public Works, as trustee, will file a petition in probate court. The board passed along an idea to use the fund for youth fishing and the lobster crate race.
• Clough Vocational School Fund: no action until the School Committee responds.
• An ornamental tree fund has been moved to the Department of Public Works, as the agenda noted.

What was decided

• Minutes of the last meeting, with corrections to items 5 and 8: approved.
• $15,000 total from Hovey Fund income toward the library project: motion and second, approved.
• Adopt option one of the Fernald Fund memo, combining it with the Huntress Fund: agreed by the commissioners present.
• Request for proposals to Action Inc. and the Gloucester Housing Authority: approved in principle; a commissioner will revise and send it.
• Adjourn at 11:07 a.m.

What happens next

• Letters go to the two agencies. Proposals come back to the board, which will set a dollar figure for each.
• Nov. 10, 9:30 a.m.: next meeting, City Hall, 9 Dale Ave., and on Zoom.

Where to find the records

• Board of Commissioners of Trust Funds agendas and minutes on the city website.
• October 2026 past meetings, with the recording.

Earlier coverage: Gloucester's senior center board to discuss rebranding the Rose Baker Center, and trust fund panel weighs old bequests (Oct. 3), which previewed this meeting.

How we did this: Cape Ann Current watched the meeting online and checked item names against the agenda. Dollar figures are as the commissioners stated them from the fund's June 30 report; the board's minutes will carry the official numbers and votes. These are our meeting notes, not the board's minutes.