HomeMy WebLinkAboutHousing Catalyst - Minutes - 11/29/2005Minutes of the Regular Meeting of the Fort Collins Housing Authority
1715 Mountain Ave, Fort Collins Colorado
November 299 2005
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Cornmissiotun Present Commissioners Ab staff Present Quests
Mary Davis Mary Greeley Julie Brewen Rachel P=-Steinbach
Karen Weikunat Mike Solleaberga Carol Gonzalez Jim Cox
Tom Honn Alan Fluharty Michele Christensen
Ed Stoner Jim Martell
Patrick Brady — Phone Conference
I. CALL TO ORDER
Chairperson Davis called the regular meeting of the Fort Collins Housing Authority to order ut 7:50 a.m.
11, CITIZEN INPUT
There was no citizen input.
III. APPROVAL OF MINUTES
no Board reviewed the minutes from the October 27, 2005 regular meeting Commissioner ),Iona made a
motion, seconded by Commissioner Weikunat to approve the minutes of the October 27, 200$ regal ar
treating. This motion was passed unanimously.
IV. OLD BUSUMSS
20M Bud teg�p6on:
Commissioner Stoner made a motion, seconded by Commissioner ),dorm that the Fiscal Year 2006 budgot
be adopted as required by the U.S. Department of Housing end Urban Development, and furdwr that the
corresponding management agreement be amended with the new fee stnretwes. The motion was passed
unanimously.
V. NEW BUSINESS
First National Loam Covenant Revisions•
The Board reviewed staffs recommendation that the Board authorize the Chairperson and Vibe
Chairperson to exeaae loam covenant agreement revisions with First National Bank. The Fort Collins
Rousing Authority has secured loans on behalf of the Fort Collins Housing Corporation and Neighbor to
Neighbor. The Fort Collins Housing Corporation borrowed $4,050,000 for the purchase of the Village on
Phan (Sleepy Willow). The loan passed through the Housing Authority so as to get the double tax-exempt
borrowing rate. The Housing Authority also borrowed $5,330,000 and then loaf the money to Neighbor to
Neighbor in order to help the refinance their portfolio at a better rate, The Neighbor to Neighbor portfolio
secures the note, First National Bank reviews the loan covenants annually and would like to make the
attached chamges to the agreements. Commissioner Donn made a motion, seconded by Comrwssiomer
Stoner to accept the loan covenant revisions, This motion was passed unanimously.
Self Sufficiency.Pwom Coordinating Conunift:
Rachel Ferez-Steinbach, Jim Cox and Michele Cbristemen gave a presentation to the Board about the new
Resident Services Program Support Committee, This committee would help create a fundraising plan to
support the Client Assistance Fund, and begin a sponsorship/mentorship program.
Vl. LEGISLATIVE ISSUES
There were no legislative issues.
VII, MONTHLY ACTIVITY WORT
The board reviewed the Monthly Activity Report
vm. NEXT MUTING DATE AND ADJOURNMENT
Commissioner Sollenberger adjourned the regular meeting of the Fort Collins Housing Authprity Board at
9:05)kW..,Approved this 2e day of January 2006.
Chairperson