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LAKEWOOD HOUSING AUTHORITY
REGULAR MEETING
Monday December 12, 2003
Willow Glen 1585 Kipling Street
8:30 A.M.
Call to Order
Members Present: Sandra Maben - Chair
Robert Sandridge - Vice Chair
Minoo Poorteymoor - Resident Commissioner - excused
Joan Smith - Commissioner
Gari Westkott - Commissioner
Staff Present: Tami Fischer - Executive Director
Garnette Hardesty - Administrative Assistant
Bill Lunsford - Development Manager
Carl Musso - Accountant
Sabrina Pierre-Louis - Deputy Director
Theresa Folks - Assisted Housing Program Supervisor
Guest: Randy Funk from Gorsage Kirgis
CALL TO ORDER
The Chair, Sandra Maben, called the meeting to order at 5:35 p.m. with roll being called by the Administrative Assistant. The Chair stated a Quorum was present.
CHANGES AND MODIFICATIONS TO AGENDA
Changes to the agenda as stated.
APPROVAL OF MINUTES
A motion was made by Robert Sandridge, seconded by Gari Westkott to approve the minutes of the October 27, 2003 regular meeting. The vote of the Commissioners was as follows:
Sandra Maben :aye
Robert Sandridge :aye
Minoo Poorteymoor (absent)
Gari Westkott :aye
Joan Smith :aye
The motion carried.
FINANCIAL REPORT
Request for Resolution to Approve the LHA Fiscal year 2004 Operating Budget
There was a study session this past Tuesday evening to discuss the 2004 LHA budget. There was additional discussion on the budget.
Sandra Maben commended Sabrina Pierre-Louis and her staff for providing excellent information regarding the budget.
Sabrina Pierre-Louis requested a resolution to approve the LHA Fiscal year 2004 Operating Budget as submitted. A motion was made by Gari Westkott, seconded by Bob Sandridge to approve the 2004 LHA Budget as written. The vote of the Commissioners was as follows:
Sandra Maben :aye
Robert Sandridge :aye
Minoo Poorteymoor (absent)
Gari Westkott :aye
Joan Smith :aye
The resolution carried.
September Revenue and Expenditure Reports
Carl Musso, Housing Accountant, shared the information regarding the revenue and expenditure reports with the board members and there was shared discussion.
Joan Smith had asked Sandy Maben about receiving funding for the MLK breakfast in January. The money has been placed in the budget for 2004.
HOUSING MANAGER REPORT
High Performing Agency
Sabrina Pierre-Louis informed the board that the Lakewood Housing Authority is once again a high performing agency under the Public Housing Assessment System.
Request for Resolution to Write-Off Public Housing Tenants' Accounts Receivables
Theresa Folks requested a resolution authorizing the Lakewood Housing Authority to write-off tenant account balances in the amount of $19,364.86 in the public housing tenants' accounts receivable as collection losses.
A motion was made by Gari Westkott, seconded by Bob Sandridge to approve the
2003 Write-off of Public Housing Tenants' Accounts Receivables as stated.
The vote of the Commissioners was as follows:
Sandra Maben :aye
Robert Sandridge :aye
Minoo Poorteymoor (absent)
Gari Westkott :aye
Joan Smith :aye
The resolution carried.
Request for Resolution Authorizing the Lakewood Housing Authority to write-off uncollectible vacated tenant account balances in the amount of $175.07 for Newland Square.
Theresa Folks requested a resolution authorizing the LHA to write-off uncollectible vacated tenant account balances in the amount of $175.07 for Newland Square.
A motion was made by Gari Westkott, seconded by Bob Sandridge that the amount of $175.07 for Newland Square be written-off as uncollectible. The vote of the commissioners was as follows:
Sandra Maben :aye
Robert Sandridge :aye
Minoo Poorteymoor (absent)
Gari Westkott :aye
Joan Smith :aye
The resolution carried.
Request for Resolution Authorizing the Lakewood Housing Authority to write-off uncollectible vacated tenant account balances in the amount of $796.00 for Zephyr units.
Theresa Folks requested a resolution authorizing the LHA to write-off uncollectible vacated tenant account balances in the amount of $796.00 for Zephyr units. A motion was made by Gari Westkott, seconded by Joan Smith that the request be approved as stated. The vote of the commissioners was as follows:
Sandra Maben :aye
Robert Sandridge :aye
Minoo Poorteymoor (absent)
Gari Westkott :aye
Joan Smith :aye
The resolution carried.
EXECUTIVE DIRECTOR REPORT
Newland Square Update
Tami Fischer said the upcoming sale of Newland Square is good news and there
will be additional information coming to the board in the January 2004 LHA Annual
meeting.
DEVELOPMENT MANAGER REPORT
The Cliffs Apartments now known as "Timberleaf" Update
Bill Lunsford introduced Randy Funk, attorney from Gorsuch Kirgis who assisted Bill in a brief summary to the board on The Cliffs Apartments now known as "Timberleaf".
Bill Lunsford requested a resolution relating to a loan commitment from the Lakewood Housing Authority to Fairfield Timberleaf L.P., a California limited partnership in the original principal amount of $200,000.00; providing for details and covenants with respect thereto; repealing all resolutions in conflict therewith; and ratifying all action heretofore taken in connection therewith.
A motion was made by Gari Westkott seconded by Robert Sandridge to approve
the request for resolution as stated and written. The vote of the commissioners
was as follows:
Sandra Maben :aye
Robert Sandridge :aye
Minoo Poorteymoor (absent)
Gari Westkott :aye
Joan Smith :aye
The resolution carried.
Bill Lunsford requested a resolution relating to the execution and delivery of the operating agreement of FF Lakewood II LLC, A California Limited Liability company by the Lakewood Housing Authority, as manager of Holdings, LLC, A Colorado limited liability company, for the purpose of acquiring a non-managing membership interest in FF lakewood II, LLC, a California limited liability company, the general partner of Fairfield Timberleaf L.P., a California limited partnership; relating to the execution and delivery of the agreement of limited partnership of Fairfield Timberleaf L.P., by the Lakewood Housing Authority, as manager of LHA Ridgemoor Holdings, LLC, for the purpose of acquiring a special limited partnership interest in Fairfield Timberleaf L.P.; authorizing the execution and delivery by the Lakewood Housing Authority, as manager of LHA Ridgemoor Holdings, LLC, of any and all necessary documents relating to the formation of FF Lakewood II LLC, and Fairfield Timberleaf L.P.; repealing action heretofore taken in conflict herewith; and authorizing officials of Lakewood Housing Authority, as manager of LHA Ridgemoor Holdings, LLC to do all other things necessary or advisable to complete the transaction authorized in this resolution and ratifying all action heretofore taken in connection therewith.
A motion was made by Joan Smith seconded by Gari Westkott to approve the request
for resolution as stated and written. The vote of the commissioners was as follows:
Sandra Maben :aye
Robert Sandridge :aye
Minoo Poorteymoor (absent)
Gari Westkott :aye
Joan Smith :aye
The resolution carried.
Bill Lunsford requested a resolution of the board of commissioners of the Lakewood Housing Authority (The "Issuer") authorizing the issuance, sale and delivery of the Lakewood Housing Authority (City of Lakewood, Colorado) Variable rate demand multifamily housing revenue bonds (Timberleaf Apartments Project) Series 2003 (The "Bonds") in a principal amount not to exceed $13,850,000; ratifying certain actions heretofore taken: approving the forms and authorizing the execution and delivery by the issuer of the bonds, a trust indenture, a financing agreement, a tax regulatory agreement, a bond purchase agreement, an assignment and intercreditor agreement, a multifamily note, a LIHTC agreement, loan documents and a no arbitrage certificate; authorizing the execution and delivery by the issuer of any and all necessary closing documents; repealing action heretofore taken in conflict herewith; and authorizing officials of the issuer to do all other things necessary or advisable to complete the transaction authorized in the resolution.
A motion was made by Gari Westkott seconded by Robert Sandridge to approve
the request for resolution as stated and written. The vote of the commissioners
was as follows:
Sandra Maben :aye
Robert Sandridge :aye
Minoo Poorteymoor (absent)
Gari Westkott :aye
Joan Smith :aye
The resolution carried.
Other Business
There was some general open discussion between board and staff.
Adjournment
The Regular Meeting of the Housing Authority of the City of Lakewood was adjourned at 9:22 a.m.
Sandra Maben - Chair
Lakewood Housing Authority
Sabrina Pierre-Louis
Deputy Executive Director
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