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LAKEWOOD HOUSING AUTHORITY
REGULAR MEETING
Monday September 26, 2005
5:30 p.m.
480 S Allison Parkway
Housing and Family Services Conference Room
Members Present: Bob Sandridge, Chair
Minoo Poorteymoor, Resident Commissioner
Gari Westkott, Commissioner
Excused: Sandra Maben, Commissioner
Joan Smith, Vice Chair
Staff Present: Tami Fischer, Executive Deputy Director
Bill Lunsford, Housing Development Manager
Carl Musso, Housing Accountant
Sabrina Pierre-Louis, Assistant Deputy Director
Mike Herrick, Housing Maintenance Administrator
Garnette Hardesty, Administrative Assistant
Guest: Wendy Swanhorst, Swanhorst & Company LLC
CALL TO ORDER
The Chair, Bob Sandridge called the regular 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 were made to the agenda as stated.
APPROVAL OF THE MINUTES
A motion was made by Gari Westkott, seconded by Minoo Poorteymoor to approve the minutes of the August 22, 2005 meeting as written. A vote of the Commissioners was as follows:
Bob Sandridge: aye
Minoo Poorteymoor: aye
Gari Westkott: aye
The motion carried.
Financial Reports
Wendy Swanhorst from Swanhorst & Company LLC presented the December 31, 2004 LHA Audit. Wendy stated that Swanhorst's opinion of the audit was that it was clean. Another document enclosed in the audit reads: Management Discussion and Analysis. This document identifies many significant activities in 2004.
The two-page statement of net assets sets up the significant funds and reflects the smaller assets in a separate column. Public Housing looks much better than it ever has due to the sale of Vance Terrace. For the first time Public Housing looks good. Some of that money has been spent for operations.
Development shows many changes. Cedar and Kings Row were significant projects.
The last page of the report shows the federal money that the Housing Authority brought into the community.
Wendy stated that when they came out to do the audit many of the development projects were not included in the books therefore requiring many adjustments to the books to make them accurate. Bob Sandridge asked if the figures were reflected correctly on the books at this time and Wendy Swanhorst and Carl Musso said yes they were.
Gari Westkott asked what the outcome of discussions on Development activities and Lakewood Housing Corporation was since the statement read: "Did not maintain accounting records for several of the development projects. Tami Fischer mentioned that regular internal meetings in cooperation and communication have been set up to make sure the projects were being accounted for.
Wendy said that as far as the Corporation is concerned when the Housing Authority became the soul member of the Corporation, for accounting purposes, the Corporation should now be reported as part of the Housing Authority.
Sabrina spoke with the attorney and said that under the Housing Corporation By-Laws the Housing Authority can make a resolution to replace the current Corporation Board members and replace them with other members.
Gari Westkott was curious about the housing project on Reed Street and the project on Youngfield Street. Carl informed her that these two addresses were loans from individuals that the Housing Authority pays mortgages on them to individuals to purchase the homes.
It is Wendy's hope that next year the accounting records are more complete. Carl Musso said he felt the meeting that has been instituted has helped a lot as far as Kings Row tax credit is now on the books and being done in-house; Willow Glen was being done with an outside contractor and has now been brought in-house, the resolution for 17th & Pierce has been set up and the communication has really been of assistance and the information is now becoming available to Carl for accurate reporting.
Wendy mentioned the complexities of what the Lakewood Housing Authority is doing compared to the past. She feels it is essential to have a strong accounting person such as Carl Musso in the accounting position as feels the board and staff should utilize his skills.
Carl went on to present and discuss the financial reports and the budget revision for 2005. Water and gas costs for mileage reimbursement have gone up so adjustments are being requested to cover those costs in addition to HAP adjustments. Another request to adjust janitorial expenses is being made to recruit a housing resident to clean the rehab units.
The cost is to include liability insurance on her vehicle through the Self-Sufficiency program.
A request for resolution was made by Carl Musso to approve the revised 2005 Budget as detailed in the memo. A motion was made by Gari Westkott seconded by Minoo to approve the Revised 2005 Budget as written. The vote of the commissioners was as follows:
Robert Sandridge: aye
Minoo Poorteymoor: aye
Gari Westkott: aye
The resolution carried.
Bob Sandridge asked about the increase in office expenses. Carl clarified by stating that the Housing Authority paid out the one-time Ten Mast software support services agreement for the year at a cost of $14,000. Postage is paid sporadically throughout the year. The repayment to the city depends on when they ask the housing authority to reimburse them for the postage expense on the housing authority's behalf. Some of the postage charges were taken out of what the housing authority was charged incorrectly.
Carl also mentioned to the board that at the time of the board packet mailing, Maplewood did not have their financials ready for the board. Details were distributed to the board at the meeting and Carl discussed the Maplewood budget with the members. Leasing options, recreation passes and stocking resident refrigerators are just a few of the incentives they are offering people wanting to move into the Maplewood units. Maplewood is currently at 92% occupancy, which helped the revenues in August.
The investment report shows increases on the value of stock or interest. The shift in dollars reflects in the bonds and securities that pay a higher rate of interest.
Sabrina Pierre-Louis mentioned that last year the Housing Authority requested an advance in funding to complete the 4th and Depew Rehab project. The project was completed and when the capital funds came in the advance was repaid.
Mike Herrick has requested a resolution to advance funding for the corner of Center and South Eaton Street. This is a 13-unit town home complex to do the same type of work in terms of adding porches for curb appeal, exterior with shutters and exterior decorative trim and some other upgrades. This will also include completely gutting the interior and redoing the doors, appliances, re-do floors, new cabinets, all new bathroom fixtures, plumbing, water heaters only. The request is to advance $237,000 capital funds for 2006 of the $345,000 for the project. A motion was made by Gari Westkott seconded by Minoo to approve the advancement of the modernization project and Center and South Eaton Street in the amount of $237,000. The vote of the commissioners was as follows:
Robert Sandridge: aye
Minoo Poorteymoor: aye
Gari Westkott: aye
The resolution carried.
Housing Manager Report
Sabrina spoke to the board on the PHA Plan. HUD requires all Housing Authorities to come up with a plan on how they will run their programs and how you will spend the money HUD gives to the Housing Authority. This plan is drawn up with the Resident Advisory Commission Board. The
Agency Plan itself is a template. The Housing Authority answers the questions
and submits the plan back to HUD. This year the plan is called the "Streamline
Plan" similar to the annual plan.
Sabrina Pierre-Louis requested a resolution to approve the fiscal year 2006 Agency Plan as being submitted to HUD. A motion was made by Minoo Poorteymoor, seconded by Gari Westkott to approve the 2006 Agency Plan as submitted to HUD. The vote of the commissioners was as follows:
Robert Sandridge: aye
Minoo Poorteymoor: aye
Gari Westkott: aye
The resolution carried.
Sabrina shared a success story regarding Julie Maestas with the board commissioners. Julie was a Section 8 resident who recently moved into her own home. Julie took advantage of a number of programs offered by the Lakewood Housing Authority throughout her five years receiving Section 8 assistance. She enrolled in Strides Family Self Sufficiency Program in 2001 earning her LPN nursing license over a year later. She then obtained a job at Denver Health and has been working full-time for nearly three years. Julie successfully graduated FFS program in the spring of 2005 and has saved in her escrow account $11,000. After receiving her educational and employment goals with Stride, Julie set her sights on home ownership. She enrolled in the Lakewood's Savings Plus Program to gain down payment assistance through the IDA program. Within one year Julie had met all the requirements of the program and saved $1000 of her own money and received a $4000 match. She was accepted into the Habitat for Humanity home ownership program and was able to close on a two-bedroom, one bath home in Wheat Ridge with her combined escrow and IDA savings. Julie rated her experience with LHA programs as excellent and commented that the staff was very helpful in reaching her goals. Julie said, "I learned a lot, how to budget, save and invest. It was a life-changing experience for the best."
Sabrina stated that Julie Maestas is a great example of the changes a person can make in their life and the goals that can be achieved getting self-determination in themselves and offer opportunities for success. This is an example of someone who recognized the value of layering these programs and took full advantage of all the programs and put them together and get into their own home.
Sabrina Pierre-Louis presented a Resolution of Appreciation to Minoo Poorteymoor who was appointed by the Lakewood City Council on February 25, 2003, to serve as a Resident Commissioner for the Lakewood Housing Authority; and, whereas, Minoo Poorteymoor served as Resident Commissioner of the Lakewood Housing Authority from February 25, 2003, until September 30, 2005. The Housing Authority of the City of Lakewood wishes to express their appreciation of Minoo Poorteymoor's service and dedication as a Resident Commissioner of the Lakewood Housing Authority. Sabrina presented a plaque and gift to Minoo.
Executive Director Report
The October 3rd Council Study Session has been cancelled so the LHA will not be presenting their Annual Plan until December 5, 2005.
November 28, 2005 will be the regular meeting for LHA.
The LHA Board and Staff Luncheon has been scheduled for Friday, December 2, 2005 at Simms Landing at 11:00 a.m. Gari will not be attending, as she will be in India the entire month of December.
The December LHA Board Meeting is cancelled. The LHA Retreat is scheduled for Friday, January 27, 2006 at the Cason Howell House, 1575 Kipling Street along with the Annual Meeting beginning at 9:00 a.m.
At the next LHA meeting in October Tami would like to discuss the Lakewood Corporation Board.
Development Manager Report
Bill Lunsford wanted to apologize to Carl Musso for making his life more difficult that absolutely had to be with the audit and financial information with the development projects. He will be taking Carl to lunch.
Bill Lunsford requested a resolution for the final approval of construction for the 17th and Pierce Street Development Project. Total cost estimate is a bit over $18 million. The budget is $152,000 a unit. Construction costs is a hard $12 million plus other significant costs above that number. The project is a design build.
Bob Sandridge asked Bill about the developer fees for Bruce. Bill informed Bob that Bruce's fees are development consultant fees payable at $7500 a month until the project is completed. The project has more two-bedroom units than Willow Glen. Bob asked Bill if there was completion assurance in the resolution.
There will be no ground breaking for the Pierce Street Project but most likely will have a significant Grand Opening. The project closing is scheduled for October 15, 2005. The contract will call for a 14-month construction period. Completion is scheduled for January 2007. Rents will range from $300 a month to $850 a month; similar to Willow Glen; the bulk of the rents in the lower range.
A motion was made by Gari Westkott seconded by Minoo Poorteymoor to approve the final project approval of 17th and Pierce Street Senior Housing transferring of property to the tax-credit partnership. The vote of the commissioners was as follows:
Robert Sandridge: aye
Minoo Poorteymoor: aye
Gari Westkott: aye
The resolution carried.
Bill Lunsford mentioned that every available unit at Kings Row is rented. Some units are not available due to construction and some are relocation units. The rehab is approximately 70% complete. The name change of Kings Row will be Belmar Groves.
Cedar is in the process of having the roof replaced. The complex is only about 50% occupied at this time.
Other Business
There was no other business of the Lakewood Housing Authority.
Adjournment
Meeting adjourned at 6:57 p.m.
Robert Sandridge - Chair
Lakewood Housing Authority
Sabrina Pierre-Louis
Deputy Executive Director
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