HomeMy WebLinkAboutHousing Catalyst - Minutes - 05/16/1990• 0
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TO: Fort Collins Housing Authority Board of Commissioners
FR: David M. Herrera, Executive Director
DATE: June 12, 1990
SUBJECT: Minutes of the Regular Heisting - May 16, 1990
Commissioners Present Absent Staff Present
David Frick Anita Basham David Herrera
Dan Alexander Rose Ramirez Tracy Carter -Pitts
Robert Nolin Alan Fluharty
Marge Figel Beth Cook
John Xefalas
Others Present
J.D. Padilla
Steve Dee, Member, Fort Collins Housing Corporation
Z. Call to Order
The regular meeting of the Fort Collins Housing Authority
Board of Commissioners was called to order by Chairman David
Frick at 4:30 p.m. on Tuesday, May 16, 1990, in the FCHA
conference room.
II Consideration of Consent Agenda
The first matter was consideration of Consent Agenda items:
Dwelling Management and Maintenance reports and the Minutes of
April 23, 1990.
A notion was made to approve the above mentioned Consent Agenda
items.
Motion: Dan Alexander
Second: Robert Nolin
Action: Passed
ZZI. CItisen Input
No comments. No guests present.
ZV. Executive Director's Report
A. Budget and Finance
1. Monthly Financial Report, 2. Capital Budget Report, and
3. 1989 Annual Audit and Year End Statements: Staff reported
on the variances in the Budget versus the monthly report.
Notably, administrative costs of development have not been broken
out since budget preparation. Staff explained that the 1989 Year
End Statement has built in the debt forgiveness in company 200.
The report continued with the explanation of the pie charts,
showing income of all companies and expenses for all companies.
4. Consideration of Request to Serve as Bond Issuer -
Oakbrook I - A company known as the National Foundation for
Housing has approached the FCHA to request that FCHA act as a
bond issuer for the purchase of Oakbrook I. A preliminary
agreement was included in the Board material. Following the
discussion, the Board requested more information on the National
Foundation, i.e., financial stability, background, non-profit
status, performance, possible liability to FCHA, default
protection. The Board agreed that this was a threshold
commitment to proceed to go ahead, however, continue to negotiate
with the requestor for management and maintenance of oakbrook I
and find out if NFH would be willing to fund the coat of a legal
opinion to determine if FCHA would have any exposure to
liability. It was noted that all tenants are on Section 8.
Staff agreed to research the concerns and report back at the next
Board meeting with specific language.
B. Consideration of Request for Project Based Certificates
As requested at the last Board meeting a pro forma financial
report was handed out by Mr. J.D. Padilla, a real estate
consultant, on the Swancrest Apartment complex at 125-127 W.
Meldrum. Mr. Padilla was present to answer any questions
regarding the project from the Directors. Staff gave an overall
presentation of the role of FCHA if this project is approved as a
Project Based Assistance program, stating that it would require
10% of FCHA's Section 8 certificates. The Staff recommended
non -approval by the Board and that the Board consider a policy to
assist other projects.
A motion was made to reject the proposal to certify the Swancrest
Apartment as a Project Based Assistance program and staff was
directed to develop a policy for Board approval which would spell
out guidelines acceptable to FCHA's long range housing plan in
consideration of future projects.
Discussion: Dan Alexander asked to withdraw from discussion and
vote due to a conflict of interest. Chairman Frick expressed
concern regarding the displacement of the current residents. The
question was called and the motion passed as stated.
Motion: John Kefalas
Second: Robert Nolin
Action: Passed
C. Management Report
1. Consideration of Administrative Plan Changes - Staff,
after determining all members had a copy of the proposed revision
of the Administrative Plan, discussed the additions and revisions
in the 1990 revised Administrative Plan, i.e., language, federal
preference, more explanations for tenant layperson'a
understanding.
A motion was made to accept the revised Administrative Plan as
presented with one correction as follows: "1. Unreported Income"
will read "A limited payback arranaement may be negotiated once
the amount of under payment of rent has been established A
Payback aareement will be executed based upon the financial
If it is not Possible to Pay the debt within 12 months the tenant
must request approval from the Board of Commissioners in writing
within two (2) weeks of the notice of indebtedness. -
Notion: Robert Nolin
Second: Dan Alexander
Action: Passed
Staff was commended by the Directors for the revised
Administrative Plan.
(Note: Following the dinner break, the next item was presented
as an addition to the agenda.)
' 9 •
2. Consideration of Outstanding Collections - As a result
of tenant debts to FCHA, the staff presented the current
outstanding debts to be collected. Discussion followed.
A motion was made to write-off debts if under $200 (two hundred
dollars) but to continue to pursue collection and to seek
judgment for amounts greater than"$200 (two hundred dollars) with
case by case exceptions at the discretion of the Executive
Director who will report those exceptions to the Board.
Motion: Dan Alexander
Second: Robert Molin
Action: Passed
3. Dwelling Management and Maintenance Reports were
approved as consent items. As a note to the maintenance report:
Staff reported that the cut -back on herbicide spray last year has
increased the need this year. Maintenance will continue to
follow the policy as set last year but in order to respond to the
City's nuisance abatement weed ordinance, letters will be sent
out to neighbors and herbicide will be sprayed. There was also a
report on Erin Court by staff regarding the attached land to
project used by youth as a cross-country track with destruction
of property and sod.
4. Development Report
a. Land Acquisition Proposals
(i) Two contracts have been sent to HUD for the purchase of
two six-plexes at Stanford Road. HUD's office reported the
initial contracts had been signed and returned May 16, 1990.
(ii) Leisure Drive Acquisition - An offer came from
broker/owner to accept the offer of $180,000. Although this is
$20R over the appraised price, staff feels the appraisal was low.
With Board approval the negotiation will continue via the offer
contract. The Board concurred. Staff made reference to a memo:
Use of CDBO Funds, which outlines the projected capitalization of
the acquisitions. The use of Leisure Drive would be to acquire,
rehab as vacated and attach Section 8 certificates designated to
Project Self -Sufficiency recipients through Project Based
Assistance.
(i.ii) Wyoming Duplex Purchases - The Board was directed to
consider the Ryberg contract in packet and refer to the CDBO memo
of capitalization.
(iv) 505 Smith St. - proposal considered yesterday of
$27,000 cash, without broker. Moderate amount of rehab will be
required and it stands habitable now with minor upgrade to
furnace.
TOTAL consideration of the above acquisitions is: 18
additional units, 49 bedrooms.
(v) Staff reported on a meeting with the neighbors of the
Cherry Street project on May 15, 1990 regarding the development
of the Wyoming units as duplexes on this site. Staff reported a
positive attitude of the neighbors to the new exterior look of
the units.
A thorough discussion of each of these sites and
consideration of the proposals followed. it was the conclusion
of the Board that the Vine Street project, which was considered
as a Maintenance Facility, needed further investigation before
approval.
A motion was made to approve the use of COBO funds as presented
in the memo and as discussed, with the exception of the Vine
Street project.
Motion: Rober' Wolin
Second: John false
Action: Passed
YII. City COU20" pork Bean+ - Alternate Members to FCHA Board
of Commissioners.
A. Memos from the City
1. The Board of Directors were referred to a memo regarding
the Role of Alternate Members to City Boards. It was discussed
as to how the FCHA members view it's alternate members and their
participation.
2. Another memo from the City Attorney referred to Open
Meetings. After a discussion of both of these memos, staff was
instructed to send a letter outlining their philosophy on these
matters and procedures under which FCHA operates. This letter
would basically agree to the proposal of Open Meetings as
outlined in the memo but clearly state FCHA's compliance with the
State Statutes precedence.
The Sxecutive Director declared his report completed.
YIII. Misce»aneous Information
The Chairman referred the Directors to attached letters and
memos in the packet which needed no action but were for
information purposes only.
Commissioner Frick confirmed the next meeting date as June
20, 1990, noting that he would not be present. Alternate member,
Margaret Fi.gel will be unable to attend. However, a quorum was
established by the other Directors for the June meeting and
Vice -chairperson, Anita Basham will chair the meeting.
IZ. Ad-iourn
The chairman called for any additional business which should
come before the Board and hearing none, declared the meeting
adjourned at 7:50 p.m.
Respectfully submitted,
l
i
David M. Herrera, Secretary