2023-10-04-LEXHAB-min - Laserfiche WebLink

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 Minimum rent discussion – (1) Motion #1 - Determination of Calculation of Minimum rents- Units that are subject to the lottery process determined by typical household size for a particular unit pegged to a 35% AMI Level. Vote taken- all approved. (2) Motion #2 - Determination of Minimum Qualifying Income – Units that are subject to the lottery process will have a minimum qualifying income that is based on the applicant household paying 35% of their gross income towards gross rent. Vote taken- all approved. (3) Motion #3 - % of a household’s income that is charged for rent – All initial leases on all units will have their rent determined by using 35% of their household income to determine the gross rent provided this policy is reviewed by RHSO and LexHab counsel. This policy shall not override any underlying regulation or deed restriction that is to the contrary. Vote taken- all approved. (4) Motion #4- Motion #1 and Motion #2 shall be amended to read that these policies are now applicable to all new leases on all units. Vote taken- unanimous with one abstention Treasurer’s Report- Henry  Sent out highlights  Net Income up from last year  Woburn property value is now on the books  Tried to clarify capital expenditures  Opening a second checking account to be used for fundraising transactions to protect current account from things like Venmo, etc. Sustainability- Regina  7 heat pumps already put in, more are being scheduled  Muzzey issues with converting ones there but hopefully we will get approval there  Solar ahead of schedule, putting in some more applications.  Sustainable materials—trying out cork and bamboo as well. 25% higher cost on the material. We will be building those into the costs for the CPC but LexHAB is absorbing those costs on non-CPC units. Property and Development- Lester Savage  Kimball. Minuteman tech are on board. Most likely will be spring before we can get in there. Tree work on 10/12 and then grade and seed. Some probono work. Can we highlight probono work—would be a good idea. Human Resources- Bob Burbidge  Eric and Bob met and will bring results in Executive Session  Regina did a proposed holiday schedule. Motion for a vote for 2024- all voted in favor. Henry Liu absent.