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Home My WebLink About2005-05-04 EHA MINUTES• • • I. CALL TO ORDER ENGLEWOOD HOUSING AUTHORITY BOARD OF COMMISSIONERS Regular Meeting May 4, 2005 The Regular Meeting of the Englewood Housing Authority Board of Commissioners was called to order at 4:34 p .m . on Wednesday, April 6, 2005 , at 3460 South Sherman Street, Suite 101, Englewood, Colora~_o, 80113, by Vice Chairperson Shelley Thompson. II. ROLL CALL Members Present: Members Absent: Also Present: III. STUDY SESSION Nothing presented. IV. MINUTES Shelley Thompson, Vice Chairperson Charles Carter, Commissioner Rodger Hara, Commissioner Angela Hardin, Commissioner Ernie Arterburn, Alternate Commissioner Beverly Bradshaw, Ex Officio Norleen Norden, Chairperson Dawn Shepherd, Executive Director Jo Hamit, Administrative Manager Geula Sherman, Financial Services Manager Wendy Swanhorst, Swanhorst and Company A. Regular Meeting held April 6, 2005 . • • • EHA BOC Regular Meeting 05-04-05 V. VI. MOTION COMMISSIONER CARTER MOVED TO ACCEPT AND APPROVE THE MINUTES OF THE REGULAR MEETING OF THE ENGLEWOOD HOUSING AUTHORITY BOARD OF COMMISSIONERS HELD APRIL 6, 2005 AS WRITTEN. COMMISSIONER HARDIN SECONDED THE MOTION. Ayes: Nays: Abstained: Absent: Carter, Hara, Hardin, Thompson None None Norden The Vice Chairperson declared the motion carried. PRESCHEDULED VISITORS Wendy Swanhorst, from the auditing firm of Swanhorst and Company, was present for a discussion of the 2004 audit of the agency's financial statements. Ms . Swanhorst referred to the Management's Discussion and Analysis (MD&A.) which provides an overview of housing authority financial activities and highlights for the year, and said that she encouraged board members to review it. Ms. Swanhorst reviewed the status of each fund, and stated that the audit revealed no major problems or issues. She said that overall internal control policies are very good and account records are in good shape. DIRECTOR'S REPORT A. Narrative Commissioner Hara said that he noticed in the audit that the loan on the Normandy balloons this month. EID Shepherd said that she is currently in negotiations with the bank, and she expects to refinance at a rate similar to the current one. EID Shepherd stated that, in the written report, she had mentioned that the Board might want to consider rewording several objectives under Goal #3, in light of the funding cuts currently being imposed by HUD. She suggested that the wording be changed to indicate that the EHA will maintain a certain percentage of the "budget authority", since the agency could be terminating clients. Commissioner Carter asked if the $10,000 authorized for the Pennsylvania Street market study was sufficient. EID Shepherd reported that the contract amount was $7,500. Vice Chairperson Thompson suggested that, at the next Board meeting, the Board might want to have a discussion regarding the future of the Section 8 program and what actions to take in light of the funding reductions. EID Shepherd said that a number of changes in the Section 8 program are being proposed by Congress and HUD, although no regulations have been imposed. She will keep the Board apprised of any changes that occur . 2 • • • EHA BOC Regular Meeting 05-04-05 B. Financial Reports F/S/M Sherman noted that the larger quarterly packet is being provided at this meeting, and she reviewed each report. She recommended excluding the Income Statement with Budget Figures from the quarterly report in the future and to include just the Combined Balance Sheet and Income Statement and the Combined Statement of Cash Flows . Commissioner Hara said he likes to see a consolidated picture of where expenditures are relative to budget, but doesn't necessarily need to see the individual breakdown. F/S/M Sherman said she would provide a spreadsheet showing budgeted and actual expenses and revenues. C. Program Reports EID Shepherd reported that leasing activity continues to increase on the Normandy Apartments . VII. DISCUSSION ITEMS, MOTIONS AND RESOLUTIONS A. Approval of 2004 Agency Audit MOTION COMMISSIONER HARA MOVED TO APPROVE THE 2004 AGENCY AUDIT AS PRESENTED. COMMISSIONER CARTER SECONDED THE MOTION. Ayes: Nays: Abstained: Absent: Carter, Hara, Hardin, Thompson None None Norden The Vice Chairperson declared the motion carried. B. Resolution No. 6, Approving an Administrative Plan and Operational Guidelines for Section 8 Homeownership Program EI D Shepherd stated that the suggested changes and corrections from the April 6 Board meeting had been made to the homeownership program documents. Commissioner Hardin asked if the funding cuts will have an effect on this program. EID Shepherd said HUD believes that voucher homeownership will have a positive effect because the amount of payment will stay the same or go down because the mortgage will be set, as opposed to rents that could go up . 3 • • • EHA BOC Regular Meeting 05-04-05 MOTION COMMISSIONER CARTER MOVED TO APPROVE RESOLUTION NO. 6, APPROVING ADMINISTRATIVE PLAN AND OPERATIONAL GUIDELINES FOR THE SECTION 8 HOMEOWNERSHIP PROGRAM UNTIL THE MAY 4 REGULAR BOARD MEETING. COMMISSIONER HARA SECONDED THE MOTION. C. Ayes: Nays: Abstained: Absent: Carter, Hara, Hardin, Thompson None None Norden The Vice Chairperson declared the motion carried. Property Acquisition Offer EID Shepherd reported that, following a poll of the Board, the agency made an offer to purchase the property at 3539 South Pennsylvania Street, which was turned down. She said she has learned that the zoning in that area has changed recently, and opportunities for development would have been limited. Commissioner Bradshaw reported that representatives from Rocky Mountain Housing Development Corporation (RMHDC) approached City Council about support for the purchase of the Layton Gardens location on Layton A venue and Acoma Street. EID Shepherd said that she was contacted by RMHDC to see if there were any opportunities for partnership with this project. Commissioner Hara said the organization has done a good job on their past projects. D. May 16 Study Session with Englewood City Council Commissioner Bradshaw said we need to inform the Council about what we do-in particular the Section 8 program, including the family self-sufficiency program and the voucher homeownership program. There was a general discussion regarding what information to provide to the City Council at the upcoming joint meeting on May 16. It was agreed that a brief summary be drafted that provides an overview of all programs and projects. It was also agreed to provide photos of EHA properties . 4 ' • • • EHA BOC Regular Meeting 05-04-05 E. Negotiation for Normandy Apartment Refinance MOTION COMMISSIONER HARA MOVED TO AUTHORIZE THE EXECUTIVE DIRECTOR TO NEGOTIATE A FAVORABLE INTEREST RATE AND LOAN TERMS FOR THE REFINANCE OF THE NORMANDY APARTMENT LOAN. COMMISSIONER HARDIN SECONDED THE MOTION. Ayes: Nays: Carter, Hara, Hardin; Thompson None Abstained : None Absent: Norden The Vice Chairperson declared the motion carried. VIII. INFORMATION AGENDA A. EID Shepherd stated that a copy of the letter sent to HUD requesting a waiver of the two year rule for lowering the voucher program payment standard is included in the packet. Staff is hoping for a quick response to the letter. EID Shepherd commented that there are a number of opportunities for commissioner training, and she distributed several brochures and informational sheets to board members. Commissioner Hara said that he is meeting next week with a member of the Aurora Housing Authority Board to discuss the creation of a guide for commissioners to understanding tax credits. Vice Chairperson Thompson said that EID Shepherd has been asked to make recommendations on trainings for commissioners. All other items were noted. IX. GENERAL DISCUSSION A. Commissioner's Choice Commissioner Hardin announced that she had received a promotion at work which required relocation to Sheridan, Wyoming. She said that she will need to resign from her post as commissioner; however, she may not move for a while and would perhaps be able to attend a few more meetings . 5 • • • • EHA BOC Regular Meeting 05-04-05 B. Director's Choice Nothing presented. C. City Council Communication Commissioner Bradshaw reported that Fratelli's old building on Hampden and Downing has been purchased and is being renovated and will once again be a restaurant. X. EXECUTIVE SESSION Vice Chairperson Thompson caned an Executive Session to discuss a personnel matter. XI. ADJOURNMENT MOTION COMMISSIONER CARTER MOVED TO ADJOURN THE REGULAR MEETING OF THE ENGLEWOOD HOUSING AUTHORITY BOARD OF COMMISSIONERS HELD MAY 4, 2005 AT 6:43 P.M. COMMISSIONER HARDIN SECONDED THE MOTION. THE MOTION CARRIED . 6