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Home My WebLink About1992-02-26 EHA MINUTESENGLEWOOD HOUSING AUTHORITY Board of commissioners Regular Meeting February 26, 1992 I. CALL TO ORDER The Regular Meeting of the Englewood Housing Authority Board of Commissioners was called to order at 6:10 p.m. on Wednesday, February 26, 1992, by Chairman Thomas J. Burns, at 3460 South Sherman Street, Suite 103, Englewood, Colorado, 80110. Chairman Burns welcomed Charlotte Wallace, HUD Intern, as a guest to the meeting. Director Malinowski explained that Ms. Wallace is spending the week at our agency to obtain a working knowledge of a housing authority before she starts her permanent assignment in Indian Housing Programs. II. ROLL CALL Members Present:.Thomas J. Burns, Chairman Norleen Norden, Vice Chairman R. J. Berlin, Commissioner Sheri Gulley, Commissioner Bradley Zieg, Commissioner (arrived at 6:23 p.m.) Members Absent: None Also Present: Paul Malinowski, Executive Director Charlotte Wallace, HUD Intern Janet Grimmett, Housing Division Finance Specialist III.STUDY SESSION The review of HUD financial statements was postponed until the March meeting to allow for completion of the documents. IV. MINUTES COMMISSIONER GULLEY MOVED TO APPROVE THE MINUTES OF THE REGULAR MEETING OF THE ENGLEWOOD HOUSING AUTHORITY BOARD OF COMMISSIONERS HELD JANUARY 29, 1992, AS PRESENTED. COMMISSIONER BERLIN SECONDED THE MOTION. Ayes: Nays: Abstained: Absent: nm1/Minutes/012992regular Burns, Norden, Berlin, Gulley None None Zieg The Chairman declared the motion carried. EHA BOC Regular Meeting 92/26/92 COMMISSIONER GULLEY MOVED TO APPROVE THE MINUTES OF THE ANNUAL MEETING OF THE ENGLEWOOD HOUSING AUTHORITY BOARD OF COMMISSIONERS HELD JANUARY 29, 1992, AS PRESENTED. COMMISSIONER NORDEN SECONDED THE MOTION. Ayes: Nays: Burns, Norden, Berlin, Gulley None Abstained: None Absent: Zieg The Chairman declared the motion carried. V. PRE-SCHEDULED VISITORS There were no pre-scheduled visitors at the Englewood Housing Authority Board of Commissioners Regular Meeting held February 26, 1992. VI. DIRECTOR'~ REPORT A. Narrative Report Commissioner Norden inquired if there was any more recent status to the WAND financing than indicated in the report. Director Malinowski stated that Columbia Savings had completed their appraisals and the appraisals were very favorable in terms of property values. They hoped to look at a possible closing date in the second week of April. Director Malinowski mentioned that the promissory note extension for the WAND project is due to expire February 29, 1992 and he asked that the Board extend the note for an additional 120 days to allow the EHDC to close with Columbia Savings. COMMISSIONER GULLEY MOVED TO EXTEND THE PROMISSORY NOTED DATED APRIL 30, 1990 WITH THE ENGLEWOOD HOUSING DEVELOPMENT CORPORATION FOR THE WAND PROPERTIES AN ADDITIONAL 120 DAYS. COMMISSIONER BERLIN SECONDED THE MOTION. Ayes: Nays: Abstained: Absent: Burns, Norden, Berlin, Gulley, Zieg None None None The Chairman declared the motion carried. -2- EHA BOC Regular Meeting 02/26/92 B. Program Reports All programs' reports were noted with brief discussion. VII. DISCUSSION ITEMS, MOTIONS AND RESOLUTIONS A. Request to modify terms of Deferred Rehab Loan Janet Grimmett summarized the request of the borrower. Discussion ensued. The question of equity arose since some board members felt the borrower's equity in the house would appreciate at a greater rate than the note's interest rate and would, therefore, cover her interest accrual. This would not negatively impact monthly payments since her loan is deferred. IT WAS MOVED BY COMMISSIONER ZIEG NOT TO MODIFY ANY TERMS OF THE DEFERRED REHAB LOAN DUE TO EXISTING SUFFICIENT EQUITY AND THE LIKELIHOOD OF ITS APPRECIATION TO COVER THE INTEREST ACCRUAL. COMMISSIONER GULLEY SECONDED THE MOTION. Ayes: Nays: Burns, Norden, Berlin, Gulley, Zieg None Abstained: None Absent: None The Chairman declared the motion carried. B. Request to Modify Terms of Rehab Loan No. 72 Janet Grimmett summarized the request of the borrower of Rehab Loan No. 72. A lengthy discussion ensued. Commissioner Berlin suggested we see if the house is still being fixed up and request that the borrower list it immediately if we are to change the terms of the loan. Commissioner Zieg felt that the borrower's age was a factor and we should allow the owner time to attempt to sell the property again. -3- EHA BOC Regular Meeting .02/26/92 IT WAS MOVED BY COMMISSIONER ZIEG TO ALLOW REHAB LOAN NO. 72 TO BE IN A DEFERRED LOAN STATUS FOR SIX MONTHS TO GIVE THE OWNER TIME TO SELL THE PROPERTY AND THE REQUEST WILL BE REVISITED IN SIX MONTHS. COMMISSIONER GULLEY SECONDED THE MOTION. Ayes: Nays: Burns, Norden, Berlin, Gulley, Zieg None Abstained: None Absent: None The Chairman declared the motion carried. c. Purchase of property of Rehab Loan No. 192 Director Malinowski stated that he signed a counteroffer for this proposal with an express contingency that it would be effective only with Board of Commissioners' approval. The Board felt that the counteroffer was well within a favorable price range and that we should continue to proceed. IT WAS MOVED BY COMMISSIONER BERLIN TO APPROVE PROPERTY AT 3645 SOUTH FOX STREET, ENGLEWOOD, OF AMERICA FOR THE PURCHASE PRICE OF $33,300. SECONDED THE MOTION. THE PURCHASE OF THE COLORADO, FROM HOME SAVINGS COMMISSIONER GULLEY Ayes: Nays: Burns, Norden, Berlin, Gulley, Zieg None Abstained: None Absent: None The Chairman declared the motion carried. VIII. FINANCIAL REPORT January, 1992 statements have not been prepared yet to allow for the 1991 year-end closing. IX. CONSENT AGENDA There were no items on the Consent Agenda. -4- . EHA BOC Regular Meeting ·IJ2/26/92 X. GENERAL DISCUSSION A. Commissioners' Choice Commissioner Norden brought up the methodology of appointments to the Board. She suggested that the Board interview candidates prior to an appointment to the Board to save City Council time. Discussion ensued and it was the consensus of the Board that a review process by the Board might help the Council. Although everyone felt the appointments have been excellent, Chairman Burns pointed out that he had been consulted in the past about appointments. COMMISSIONER NORDEN MOVED THAT THE CHAIRMAN SUBMIT A LETTER TO THE MAYOR RECOMMENDING THAT A SUBCOMMITTEE OF THREE COMMISSIONERS INTERVIEW ALL CANDIDATES INTERESTED IN APPLYING TO THE ENGLEWOOD HOUSING AUTHORITY BOARD FOR VACANCIES ANO SEND A RECOMMENDATION TO THE MAYOR PRIOR TO THE APPOINTMENT, SAID SUBCOMMITTEE TO BE COMPRISED OF THE ENGLEWOOD CITY COUNCIL REPRESENTATIVE TO THE ERA BOARD, THE CHAIRMAN OR VICE-CHAIRMAN ANO ONE OTHER COMMISSIONER. COMMISSIONER BERLIN SECONDED THE MOTION. Ayes: Nays: Burns, Norden, Berlin, Gulley, Zieg None Abstained: None Absent: None The Chairman declared the motion carried. B. Director's Choice Director Malinowski read a short memo from Linda Martin, Deputy City Manager, informing us that Project BUILD would likely be winning an ward from the Denver Regional Council of Governments (DRCOG). She will provide more information later. Director Malinowski distributed written oaths of office that Pat Crow, City Clerk, asked all Board members to sign for her files. There was also a brief discussion on the pending legislation regarding contracts for public employees. XI. ADJOURNMENT There being no further business to come before the Board, Chairman Burns adjourned th·~4eting at 7 : 4 5 p. m. Jl ./1 ! JI 1 .1/l!on 0'0f ·:+:o ,1 /J (}.L, ·1 .,~:. ,//7;/.·/ -,. J_/ ':Cbomas J .. Burns,· Chairman Paul Malinowski, Executive Director for Mary A. Ryan, Recording Secretary -5-