Loading...
HomeMy WebLinkAboutHousing Catalyst - Minutes - 04/10/1978• 0 THE FORT COLLINS HOUSING AUTHORITY E` -M-440- R I-N- D U- M DATE: May 2, 1978 TO: Fort Collins Housing Authority FROM: John D. M craw, Executive Director RE: Minutes of the April 10, 1978 Regular Meeting I. Call to Order The meeting was called to order at 4:45 p.m, in the Housing Authority confer- ence roan at 1715 West Mountian Avenue by Chairwanan Mary Klopfenstein. II. Roll Call Present: Staff: Mary Klopfenstein John McGraw, Executive Director Charlie Muenzberg Donald Young, Accounting Technician Ray Hale Jack Dolan, Housing Production Coordinator Ken Franzen Alicia Schiager, Secretary Pete Sanchez Guests: Carl Glaser, Consulting Architect, COLA. 41-2 Rebecca Elliot, Housing Authority Attorney III. Consider Approval of the March 13, 1978 Regular Meeting Minutes Ken Franzen moved approval of the Monday, March 13, 1978 regular meeting minutes. Ray Hale seconded and the motion carried with the following vote. Ayes: Cc mdssion Members Klopfenstein, Franzen, Hale, Muenzberg, Sanchez. Nays: None. IV. Status of Negotiations Toward Assignment of Oakbrook II to the Housing Authority. Don Young, Accounting Technician, referred to his April 13th man to the Board 100% Recycled Bond Fort Collins Housing thority 'Minutes of the Apri]e, 1978 Regular Meeting • Page Two regarding the Board's March 13th decision not to finance American Develop- ment Corporation 's Oakbrook II elderly project and direction to negotiate toward assignment of the project to the Housing Authority. Don indicated that American Develop not Corporation wishes to proceed on their own. V. Selection of Bond Underwri Charlie Muenzberg expressed concern that Housing Authority/Housing Finance Authority bond financing of projects was an unproven method and that "CHFA" is available to bond finance. "Why should we be the pioneers when offers a proven method. Don Young indicated that lh% interest could be saved via the Housing Authority/ Housing Finance Authority method. John McGraw expressed concern that HUD allowed FMR's have presented a barrier to the construction of needed housing because they do not equate with actual costs of development, but that re- duced interest cost could save ;i million dollars on a 2.5 million dollar Project and, therefore, make projects feasible even under the allowable FMR's. It was further noted that each project would be reviewed for Housing Authority consideration of the need in each case to use the Housing Finance Authority method of financing. Don Young presented information on Boettcher and Company, the most recent bidder for underwriting Housing Authority/Housing Finance Authority bonds. However, Boettcher's bid is to provide financial consultation rather than underwriting. The consultant approach is less expensive but does not provide the security of the underwriter's quarantee to buy the bonds. However, Don indicated that the current bond market virtually assures sale of the bonds. Other proposals were contained in the March 13th agenda packet. Charlie Muenzberg moved approval of the Boettcher proposal based on their local orientation, conservative reputation, and less costly approach. Ken Franzen seconded the motion and it carried 5 - 0. Ayes: C'cnmission Makers Klopfenstein, Muenzberg, Franzen, Sanchez, and Hale. Charlie Muenzberg moved approval of the Boettcher proposed agreement subject to staff and legal counsel review and inclusion of a section providing the option to underwrite and designating a fee for same, and the addition of a termination clause. Pete Sanchez seconded and the motion carried 5 - 0. Ayes: Commission Menbers Klopfenstein, Sanchez, Mienzberg, Hale, and Franzen. Nays: None. VI. Waiver of P= John McGraw indicated that City legal consel will have an opinion for the next Housing Authority meeting. •Fort Collins Housing0thority • Minutes of the April 10, 1978 Regular Meeting Page Three John McCraw indicated that the staff response to the HUD management staff audit recmuendations (previously distributed to the Board) would be mailed to the Board nenbers. He canmented that the review was generally favorable, criticisms were constructive and that some criticisms were better directed at HUD's own operations. The staff response indicates our willingness and methods to comply, as well as a few recmmendations for HUD correction. VIII. Executive Director's Report: A. Financial reports were accepted as submitted. John McGraw noted that the 1974-1977 audit is cacplete and all was found in good order, and all funds are accounted for. B. Tenant arrears and collection of losses were briefly discussed and the report accepted as submitted. C. Status of project applications: John McGraw indicated that 40 units of the 80-unit Section 8 Existing Rent Program proposed have been approved by HUD. We expect to receive the funds by early May and should be assisting 40 additional families within two months of receipt of funding. We also received an approval on the 36-unit proposal for Public Housing Rehabilitation. The ACC development conference will be held at HUD on Wednesday, April 19, 1978. Dick McCoy's 24-unit West Wind Section 8 New Construction Project will be reviewed by Planning and Zoning Board for approval tonight. D. The housing counseling report will be held over for the May 8, 1978 meeting. E. The tenant newsletter was received. F. Various news articles were received G. Ray Hale moved and Charlie Muenzberg seconded a motion to purge the waiting list semi-annually rather than quarterly because of the cost (roughly $100 per quarter) and because the changes in the list do not appear to warrant the cost of the quarterly purge. The motion carried 5 - 0. Ayes: Conn mission Members Sanchez, Klopfenstein, Muenzberg, Hale, and Franzen. Nays: None. IX. other Business A. Consulting Architect Billing: CCW. 41-2 Architect Carl Glzser clarfified his request for $1218.50 of the $1430 total flat fee for consulting architectural services per the contract. Fort Collins housing iLrity Minutes of the April 10, 1978 Regular Meeting Page Four Mr. Glaser indicated that he would cmply with his contract by completing the remainder of the consulting work within the flat fee, but that he was re- questing the majority of the fee for his work on the developer packet be- cause it will have taken the majority of his consulting assigrmient time. Executive Director McGraw expressed concern over what he considered to be a continuations of the architect's negative attitude as previously demonstrated by his projections to developers of the nos -viability of Project 41-2, i.e., the architect may be requesting all but $212 of the flat fee because he doesn't expect the project to progress beyond the preliminary phase, and wants to be sure he is paid. Ray Hale moved payment to the Architect per his last billing with a letter from the Chairwoman expressing Housing Authority concerns about the Architect's enthusiasm and renuxiiing him that he is a representative of the Housing Authority, and that he should provide interested developers with factual information about the project, let the developers decide whether or not to submit proposals and the Housing Authority would decide based on developer Proposals and consultation with the Architect whether or not the project is viable. Pete Sanchez seconded the motion. The Executive Director indicated that he would consult further with the Architect about available funding compared to potential costs and other factors regarding the viability of the project to assure consistent facts, and to determine if additional funding should be sought to assure project viability. The question was called and the motion carried 4 - 1. Ayes: Casimission Mm3mbers Hale, Sanchez, Muenzberg, and Franzen. Nays: Cammission Mwber Klopfenstein. X. The meeting was adjourned at 7:15 p.m.