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HomeMy WebLinkAboutHousing Catalyst - Minutes - 05/27/2004FORT COLLINS HOUSING AUTHORITY BOARD OF COMMISSIONERS Minutes of the Regular Meeting of the Fort Collins Housing Authority 1715 West Mountain Avenue, Fort Collins Colorado May 27, 2004 Commissioners Present Commissioners Absent Staff Present Guests Robert Steiner Steve Fortier Julie Brewen Beth Cook Patrick Brady Marty Tharp James Martell Bert Bondi Mike Sollenberger Sharianne Daily Julia Stone Mary Davis Tom Horn Mary Greeley I. CALL TO ORDER Chairperson Robert Steiner called the regular meeting of the Fort Collins Housing Authority to order at 7:48 a.m. II. CITIZEN INPUT There was no citizen input. III. APPROVAL OF MINUTES The Board reviewed the minutes from the April 22, 2004 regular meeting of the Fort Collins Housing Authority. Conunissioner Sollenberger made a motion, seconded by Commissioner Greeley to approve the minutes of the April 22, 2004 meeting. This motion was passed unanimously. IV. OLD BUSINESS None. V. NEW BUSINESS Fort Collins Housing Corporation Loan Guarantee: Commissioner Brady abstained from discussion and departed the room. Ms. Brewen presented the loan guarantee request from the Fort Collins Housing Corporation to refinance three existing loans. The Corporation has selected a First Bank loan. It is a 20-year fixed rate of 5.0% with no balloon payments and no prepayment penalties. The total loan amount will be $3,030,000. Housing Authority attorney Jim Martell stated that he had reviewed and revised the loan guarantee and answered several other questions regarding its content. Commissioner Steiner asked staff to look into whether a better rate could be obtained utilizing straight bond financing. Mr. Martell stated that a mortgage could be attached to this type of financing. Commissioner Sollenberger made a motion to approve Resolution 04-05 Approval of Loan in the Amount of $3,030,000 to the Fort Collins Housing Corporation for the Refinancing of Certain Residential Rental Properties. Commissioner Davis seconded this motion. Ayes: Nays: Abstention: Commissioner Sollenberger None Commissioner Brady Commissioner Davis Conunissioner Greeley Commissioner Brady then rejoined the meeting. Employee Handbook Revision for Paid Time Off: Ms. Brewen presented a proposal to increase the amount of paid time off received by employees. She explained that a recent survey had been conducted and that our human resource consultant found FCHA to be below market in this area. She also stated that she believes it is important to provide benefits with minimal fiscal impact whenever possible, particularly since the current pay plan is set with the maximum of each range at the 501" percentile of market comparables. There was some discussion about the striation between years 0-3 and year 10 of employment. The board discussed the importance of being competitive in the market in terms of recruitment and retention. There was also some discussion about increasing the amount employees may carry over from year to year in relation to our long-term disability coverage and also in regard to the ability to still do business with absences. Ms. Brewen explained that the current policy allows supervisors to deny leave requests and that it is done frequently in order to make sure business can still be conducted. A motion was made by Commissioner Brady, seconded by Commissioner Sollenberger to approve Resolution 04-06 Revision to the Employee Handbook Regarding Paid Time Off and Annual Time Off Carry Over. This motion was passed unanimously. Northern Hotel Management Fees Billing and Collection: Ms. Brewen presented the Board with information about the current management agreement for the Northern Hotel, the current billing issues and collection problems. There is a large outstanding balance at this time. Ms. Brewen asked for board direction whether to demand payment in full or discuss a possible interest -bearing note with the ownership entity. Mr. Martell cautioned that the statute of limitations of three years must be watched closely and taken into consideration. After discussion, a motion was made by Commissioner Davis, seconded by Commissioner Sollenberger to have Ms. Brewen pursue payment in full and to request assistance from Mr. Martell if resolution is not reached immediately. This motion was passed unanimously. V. FINANCIAL STATEMENTS The Board reviewed the first quarter 2004 financial statements and focused on the Fort Collins Housing Corporation breakdown by property and unit type. There was discussion about how to analyze the data. Beth Cook, Fort Collins Housing Corporation Director, stated that it would be good to have a committee work on analyzing the data and that it should include at least to Housing Authority Commissioners. Commissioner Sollenberger asked that balance sheets be prepared for each property or unit type, and that he would like to be able to analyze the data by month and year to year. He commended staff for the work putting together the data in this manner thus far. He would also like an analysis of what it would take to sell Sleepy Willow apartments at this time. Commissioner Brady commented that in doing that we should continue to balance "Mission" with financial data. The board discussed the need for both boards to make conscious decisions about some properties cross -subsidizing others. Mr. Bert Bondi and Ms. Julia Stone of Bondi and Co. joined the meeting to present the fiscal year 2003 audit report. Mr. Bondi stated a clean opinion and commended the agency. Ms. Stone presented the management letter. Ms. Brewen addressed several of the management letter recommendations. VI. LEGISLATIVE ISSUES Mobile Home First Right of Refusal: Ms. Brewen presented a draft of a City Ordinance giving mobile home residents first right of refusal should a park be placed on the market for sale. The ordinance is essentially the same language that was in a bill sponsored by Colorado State Senator Peggy Reeves during the most recent legislative session. Commissioner Sollenberger expressed concern over such a bill. Ms. Brewen stated that Commissioner Horan has also stated his concern in a recent e-mail. Commissioner Sollenberger will attend the next Affordable Housing Board meeting at which time they will be reviewing the ordinance. Chairperson Steiner announced to the Board that FCHA received its 2003 Section 8 Management Assessment Program score of 96 which is High Performer status. The board commended staff on this achievement. VII. ADJOURNMENT Chairperson Steiner adjourned the regular meeting of the Fort Collins Housing Authority Board at 9:30 a.n�,pproved/this 24`h day of June 2004. Chairperson u§ing Authority Julie lqi wen, Execdl'we Director / Secretary Fort Collins Housing Authority