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HomeMy WebLinkAbout2020-06-30-LEXHAB-min LexHAB Board Meeting June 30,2020 8:30 AM—HELD BY Remote Connection Open to Public Minutes of the meeting held virtually due to COVID—19 on June 30, 2020 at 8:30 am Members present were Bob Burbidge, Henry Liu, Les Savage, Bob Phelan, Donna Leary, Martha Wood Gerry Howell and Bill Hays. Also present were Pearlene Varjabedian, Housing Manager and Karen Iverson, Financial Administrator, Tara Mizrahi of Affirmative Investments, Patricia S. Nelson, counsel to LexHAB.Absent was Bill Kennedy. The Chairman, Bob Burbidge presided. Minutes from the May 14, 2020 meeting were reviewed and accepted as amended. All in favor by Roll Call. FINANCIAL REPORT Gerry Howell reported • P & L comparison to previous. 5 months reviewed January to May. • Income$68K more than previous mainly due to improved collection of rents from tenants and increases in Section 8 rents paid by the Lexington Housing Authority. • Repairs and Maintenance less than previous year. • Water and Sewer bills were assessed in June and will appear on next report. Maintenance will inspect for causes of properties with higher usage. • Report shows$136K net income after expenses,with adjustments that won't appear until next report... • Reviewed balance sheet. Does not include net proceeds of refinance with Patriot Community Bank. • Karen Iverson indicated $90,000 in remaining expenses will be deducted from net proceeds of the refinance. • In addition to the net proceeds of the refinance, Patriot Community Bank released pledges of 2 CD's in the approximate amount of$400,000. Motion made to accept Treasurers report. Motion approved. —Roll Call POLICY TASK FORCE • Task force is reviewing existing leases • Purpose of revisions to the LexHAB page in the Lexington Code:to make corrections, make it more consistent with LexHAB's charter; and allow for greater flexibility. • Select Board and Town Manager approval required. • This should be completed by next meeting and will report Motion made to accept revisions to LexHAB's page in the Lexington Code. Motion approved. —Roll Call REPORT ON TOWN MEETING Bob Burbidge discussed Town Meeting votes: • TM approved $75,000 for Vine Street/ Leary design fund. • TM did not approve$25,000 to assess move of Hosmer House to Vine Street • Article 19C—TM approved use of affordable housing stabilization funds from Brookhaven for LexHAB new construction and reconstruction of existing properties. Lester was asked to move forward with Architect Request for Proposals for Vine Street/ Leary project. GRANT UPDATES • Pat Nelson reviewed Dana Home foundation $25,000 grant requirements... • LexHAB will need to present an interim report and final report on the use of funding. • LexHAB has one year to spend the funds. • Bob Burbidge will keep this on the Agenda • CEL grant reviewed—Sheds are coming from Home Dept at a cost of roughly$2,000 each. Article about the CEL fund grant has been published. EMPLOYEE HOUSING • Tenant moving out of 16 Phillip. Vote to add this property to Town Employee Program at 100%AMI Motion made to accept 16 Phillip to Town Employee Housing Program Motion approved. —Roll Call FARIVIVIEW • Tour last night of Farm view • Lester Savage indicated we are near to wrapping it up. Solar is in place, pavement is completed and landscape is complete. • Pat Nelson spoke about the flyer for the upcoming tenant lottery and efforts to notify potential applicants. WRIGHT FARM • Lester indicated we moved forward to keep the project moving. • Bids have been solicited to finish the trim on interior. • Aulson,general contractor will start up completing the painting on the exterior and prepping the hardwood floors. Estimated to be completed in early 2021. NEW BUSINESS • Pearlene Varjabedian reviewed the LexHAB program to distribute of face masks to tenants... Bob Burbidge—reviewed the search for an Accounting Manager to replace Karen Iverson who is retiring. • Review of Annual Report as part of RHSO audit. COVID Next meeting July 29,2020 at 8 AM. EXECUTIVE SESSION The chairman then proposed that the Board go into executive session to consider tenant matters, stating that Consideration of same in open session could have a detrimental effect on the negotiating position Of a semipublic Body, namely LexHAB, and might also affect adversely the privacy rights of tenants and that the Board not return to open session at the end except to adjourn. Meeting adjourned by Roll Call