HomeMy WebLinkAboutHousing Catalyst - Minutes - 05/23/2002FORT COLLINS HOUSING AUTHORITY BOARD OF COMMISSIONERS
Minutes of the Rescheduled Regular Meeting of the Fort Collins Housing Authority
May 23, 2002
Commissioners Present Commissioners Absent Staff Present Guest
Patrick Brady Lucia Liley Julie Brewen Keith Olson
Mike Sollenberger Kimberly Stenberg Alan Fluharty
Charles Wanner Chip Steiner Carol Swartz
Mary Greeley
I. CALL TO ORDER
Chairperson Patrick Brady called the regular meeting of the Fort Collins Housing Authority to order at
7:38 a.m.
II. CITIZEN INPUT
There was no citizen input. Ms. Brewen introduced Keith Olson, liaison for the Fort Collins Housing
Corporation Board.
III. APPROVAL OF MINUTES
The Board reviewed the minutes from the March 28, 2002 regular meeting of the Fort Collins Housing
Authority. Commissioner Wanner seconded by Commissioner Sollenberger made a motion to approve
these minutes. The motion was passed unanimously.
IV. OLD BUSINESS
Rigden Farm Update: Ms. Brewen presented the Board with an update on Rigden Farm, stating she is still
working with the Colorado Division of Housing in explain the issues of this project.
After some discussion Commissioner Wanner, seconded by Commissioner Sollenberger made a motion
for FHCA to pay some of Mr. Fonfara's fees, but not to exceed Mr. Martell's fees paid.
V. NEW BUSINESS
Employee Handbook Revision: Ms. Brewen presented the Board with a Resolution No. 02-06 requesting
the Board adopt a revision to the Employee handbook to increase personal time benefits by one level for
the Executive Director and Department Managers. Commissioner Wanner, seconded by Commissioner
Greeley made a motion to adopt Resolution No. 02-06, revision of the Employee handbook.
Sleepy Willow Loan Guarantee: Ms. Brewen reviewed Resolution No. 02-07; asking the Board to
guarantee a loan form Wells Fargo to the Fort Collins Housing Corporation for the acquisition of Sleepy
Willow Apartments and authorizing the Chairperson to execute all related documents. After some
discussion Commissioner Sollenberger seconded by Commissioner Wanner made a motion to approve
Resolution No. 02-07, subject to the following changes:
1) FCHC requesting a cap on the increase of the adjusting interest rate or request a fixed rate of
interest,
2) Revise the pre -payment option or change to a reasonable pre -payment penalty.
And contingent upon the following:
1) Analysis of FCHC's cash flow after year six utilizing an increase interest rate to 12%.
By-law Uodate: The Board reviewed Resolution No. 02-08. After some discussion, Commissioner
Wanner seconded by Commissioner Greeley moved to approve Resolution No. 02-08 subject to revising
the conflict of interest so as not to loose bankers in discussions. Ms. Brewen will have Mr. Roy help with
this revision.
VI. REVIEW OF MONTLY ACTIVITY REPORT
The Board reviewed the Monthly Activity Report and staff answered all questions.
VII. ADJOURNMENT
Chairperson Brady adjourned the regular meeting of the Fort Collins Housing Authority Board at 9:38
a.m. The next regular meeting will be held on June 27, 2002.
Approved this 27th day of June 2002.
Patricl Brady, Chairperson /
F ollins Housing Authority
Julie Brewen, Acretary
Fort llins Housing Authority