Loading...
HomeMy WebLinkAboutHousing Catalyst - Minutes - 01/20/2022 Housing Catalyst Board of Commissioners Minutes – January 20, 2022 I. Attendees Commissioners: Cathy Mathis-Chair, Jennifer Wagner-Vice Chair, David Bye, Emily Francis, Hep Wilkins Staff: Julie Brewen, Michele Christensen, Tonya Frammolino, Julie Francis, Kristin Fritz, Rachel Gaisford, Brian Heckart, Carly Johansson, Traci McGraw, Nichole Rex, Guests: Jim Martell, Meaghan Overton II. Call to Order - Villages Ltd. Board of Directors President Cathy Mathis called the meeting to order at 7:32 am. III. Mindful Moment Chief Executive Officer Julie Brewen led the group in a Mindful Moment. IV. Citizen Input There was no citizen input. V. Approval of Minutes from November 18, 2021 Board Meeting Corrections will be made to the minutes to change Commissioners to Directors and to move Anne Nelsen to the guest list. Vice President Jennifer Wagner moved to approve the minutes of the November 18, 2021 meeting. Director Hep Wilkins seconded, and the motion was passed unanimously. VI. Action Items a. By-Laws Revision - Villages Ltd. Board of Directors Attorney Jim Martell reviewed the revisions to the Villages Ltd. By-laws that now allow for all to be Directors, and will allow Ms. Brewen to act as Secretary, as she does for the Housing Catalyst Board of Commissioners. A couple minor revisions were pointed out; Attorney Martell will make the noted revisions to the document. Director Wilkins moved to approve the revisions, with the corrections, to the Villages Ltd. Board of Directors By- Laws. Director David Bye seconded, and the motion was passed unanimously. b. Election of Officers - Villages Ltd. Board of Directors At a previous meeting of this Board, the decision was made that the Members and Officers of the Villages Ltd. Board of Directors will be the same as the Members and Officers of the Housing Catalyst Board of Commissioners. As a result, current officers up for election for this Board are Cathy Mathis, President; Jennifer Wagner, Vice President; Julie Brewen, Secretary/Treasurer. Director Wilkins moved to approve the election of these officers as they stand. Director Emily Francis seconded, and the motion was passed unanimously. c. Funding Application to the City of Fort Collins Village on Bryan Senior Project Manager Nichole Rex reported on the work being done on the funding application for the work at the Village on Bryan. Ms. Rex provided an overview of the project. There are 27 units, the majority of which are one bedroom, one bath, single occupancy units. She reviewed the planned interior and exterior renovations. Phase 1, Renovation Planning and Design, is scheduled to run from November 2021 to March 2022; Phase 2, Renovation Implementation, is expected to take place from April 2022 to April 2023. The project budget is estimated at $2.55 million. Sources of funding are Villages equity and a 2021 City Grant Award. The request to the Board is for approval to submit for a City Grant of up to $400,000. Ms. Rex explained that the total cost per unit for rehab is far less than what the cost would be to completely rebuild. It was also noted that addressing zoning issues to rebuild would be prohibitive. Director Francis will recuse herself from the voting on this issue, as she is a member of City Council and will be asked to consider the grant request at a Council meeting. It was noted that in the resolution, Director Mathis' title needs to be changed to President. This correction will be made prior to obtaining a signature. The recommendation is for the Villages Ltd. Board of Directors to approve this request to apply for a grant from the City of Fort Collins for up to $400,000. Director Wilkins moved to pass Resolution VIL-RES-2022-01-01, A Resolution of the Board of Directors of Villages, Ltd., a Colorado nonprofit corporation authorizing an application to the City of Fort Collins for funding to be used to rehabilitate Village on Bryan. Vice President Wagner seconded, and the motion was passed unanimously. d. Funding Application to the City of Fort Collins - Impala Redevelopment Ms. Rex discussed the redevelopment project at Village on Impala, which includes both new construction and renovation. Ms. Rex noted the project timeline: Planning, Design and Pre-development will occur winter 2021 to spring 2023; Construction will take place spring 2023 to winter 2024.The Project budget is estimated at $34 million; sources of funding are 4% non-competitive tax credits, a permanent loan, Section 18 disposition funds, City and County Private Activity Bonds (PAB), and a carry back note. Approval is being requested to submit an application for a City Grant of $1.5 million. Ms. Rex explained that services have been procured to manage the process for relocation of tenants during the construction. Director Wilkins moved to pass Resolution VIL-RES-2022-01-02, A Resolution of the Board of Directors of Villages, Ltd., a Colorado nonprofit corporation authorizing an application to the City of Fort Collins for funding to be used to rehabilitate and redevelop Village on Impala. Vice President Wagner seconded, and the motion was passed unanimously. VII. Adjournment - Villages Ltd. Board of Directors President Mathis adjourned the meeting at 8:15 am. VIII. Call to Order - Housing Catalyst Board of Commissioners Chairperson Cathy Mathis called the meeting to order at 8:15 am. IX. Citizen Input There was no citizen input. X. Approval of Minutes from December 16, 2021 Board Meeting It was noted that Anne Nelsen should be listed in the minutes as a guest. This revision will be made to the minutes. Vice Chair Jennifer Wagner moved to approve the minutes of the December 16, 2021 meeting. Commissioner Hep Wilkins seconded, and the motion was passed unanimously. XI. Action Items a. Election of Officers - Housing Catalyst Board of Commissioners The slate of officers includes Cathy Mathis-Chair; Jennifer Wagner-Vice Chair; Julie Brewen-Secretary. Commissioner David Bye moved to accept the proposed slate of Officers as presented. Commissioner Emily Frances seconded, and the motion was passed unanimously. b. Conflict of Interest Attorney Jim Martell noted that he reviewed the Conflict of Interest forms submitted by Board members and found no issues. c. Funding Application to the City of Fort Collins - Impala Redevelopment Ms. Rex reported that this is the same project as was presented to the Villages Ltd. Board of Directors. It was noted that this Board must also approve the resolution. Commissioner Francis will recuse herself from the voting on this issue, as she is a member of City Council and will consider the request at Council. Vice Chair Wagner moved to pass Resolution HC-RES-2022-01-01, A Resolution of the Board of Commissioners of Housing Catalyst, a body corporate and politic under the laws of the State of Colorado, authorizing an application to the City of Fort Collins for funding to be used to rehabilitate Village on Impala and redevelop Impala Public Housing. Commissioner Bye seconded, and the motion was passed unanimously. XII. Staff Updates a. Development Report 1. 5-Year Project Plans / Project Milestones for 2022-2023 Chief Real Estate Officer Kristin Fritz reviewed the highlights of the 5-Year Project Plans and Project Milestones. Ms. Fritz reminded the group that these are reviewed in detail at the Development Committee meetings. 2. Capitalization Policy Update Chief Financial Officer Tonya Frammolino provided an update on the revised capitalization policy. She noted that this has been discussed in detail with the Finance Committee. The policy has been finalized and has been adopted as of the first of this year. b. Strategic Planning Update Ms. Frammolino provided an update on the Strategic Planning process. She noted that every five years the Plan is reviewed. The current Plan expires at the end of 2022, so it is currently being reviewed for revisions for the new Plan. Goal Stewards have been assigned to each of the five goals based on areas of expertise. It was noted that the Goal 4 Stewards have identified the need to consider an additional goal, which will focus on company culture. In the past, a Board retreat has been convened to review the Plan in person. For this year's draft, the plan is to present and discuss individual goals at a series of upcoming Board meetings beginning in March. The Board members expressed agreement with this plan. The expectation is to extend each of these meeting by no more than 30 minutes. Commissioners agreed to incorporate the presentation and discussion of goals into the Board meetings. A timeline will be laid out for reviewing the plan and will be presented to the Board. c. Housing Assistance Programs Report Chief Operating Officer Michele Christensen reviewed the Housing Assistance programs. She noted that we received $5,700 to help residents with a variety of issues. XIII. Legislative Issues/Updates a. Colorado Legislative Update Ms. Christensen noted that a bill is being watched to extend the State's tax credit program. The Governor’s Transformational Housing Task Force is expected to present their final recommendations to the General Assembly. b. National Legislative Update Ms. Christensen said that there is a Continuing Resolution and negotiations are being watched on appropriations. c. Fort Collins City Council Legislative and Business Update Commissioner and Mayor Pro Tem Francis noted that the City Council is reviewing land use code updates; there is a work session coming up. The recovery plan is being reviewed. She noted that affordable housing continues to be the number one priority for the City. Council is looking at how to allocate ARPA funds; some guidance was just received on how the funds can be utilized. City Manager applications are being reviewed. XIV. Legal Issues Attorney Jim Martell noted that there are no legal issues. XV. Other Business/Upcoming Events a. Finance Committee Meeting - January 24, 2022 b. Development Committee Meeting - February 7, 2022 c. Housing Catalyst Board of Commissioners Meeting - February 17, 2022 XVI. Adjournment Chairperson Mathis adjourned the meeting at 8:45 am. Contact: Julie Francis - jfrancis@housingcatalyst.com