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LexHAB Board Meeting <br /> July 29,2020 8:30 AM—HELD BY Remote Connection <br /> Open to Public <br /> Minutes of the meeting held virtually due to COVID—19 on July 29, 2020 at 8:09 am <br /> Members present were <br /> Bob Burbidge, Bill Kennedy, Henry Liu, Les Savage, Bob Phelan, Donna Leary, Gerry Howell, and Bill Hays. Also present <br /> were Pearlene Varjabedian, Housing Manager and Karen Iverson, Financial Administrator, Tara Mizrahi of Affirmative <br /> Investments, Patricia S. Nelson, counsel to LexHAB. Sue Barry,Selectwoman,Absent was Martha Wood. <br /> The Chairman, Bob Burbidge presided. <br /> Minutes from the June 30, 2020 meeting were reviewed and accepted as amended. <br /> All in favor by Roll Call. <br /> POLICY TASK FORCE <br /> • Met since last meeting. Goal of recording differences in leases between LEXHAB and DHCD. <br /> • Want to try and push for a uniform lease <br /> • Provided to outside counsel for review <br /> • Henry Liu reviewed the differences <br /> Motion made to implement changes as recommended by Task Force to lease. Motion approved. —Roll Call <br /> FINANCIAL REPORT <br /> Gerry Howell reported <br /> • P & L comparison to previous. 6-month statement <br /> • Embedded is the$10K contribution from the Town of Lexington from the Takeda Pharmaceutical fund. Town of <br /> Lexington paid tenants rent amounts during COVID challenges. <br /> • Payroll reduced—no executive director <br /> • Rents are being received timely <br /> • Income is$150K at this point <br /> • Karen Iverson indicated slightly increased utilities at this time— <br /> • Balance sheet reviewed <br /> • Reviewed Farmview figures <br /> Motion made to accept Treasurers report. Motion approved. —Roll Call <br /> SPREADSHEET ANNUAL REPORT <br /> Bob Burbidge <br /> • Reviewed the LEXHAB Spreadsheet for reporting to Town as part of annual audit by RHSO <br /> OPERATIONS <br /> • Bob Burbidge will meet to conduct Employee Performance review <br /> FARMVIEW <br /> • Lester Savage reported we are starting to close and finish project <br /> • Stair treads, solar installed, pavement is set,trash receptacles completed. <br /> • Public and Town Members Open House to take place this Friday and Saturday <br /> • Sent invitation to 500 feet radius Farm View neighbors and 400 ft radius Vine Street neighbors <br />