HomeMy WebLinkAbout2013-01-24-LEXHAB-minLexHAB
Minutes of Jan. 24, 2013 Meeting
Members of the Board present were R. Burbidge, G. Howell, D. Eagle and W. Hays
Also present were Atty Pat Nelson and Bob Pressman.
The meeting opened at 7:04 am; the Vice - Chairman presided.
1. Financial Matters
A. Dave Eagle reported that bank balances have not materially changed.
B. Gerry Howell introduced Karen who has developed for us the spread sheets that
we now receive. Karen noted as follows
- On the 2 year Comparison P &L statement, please note that in the
2012 column, no depreciation is entered whereas in the statement
for the previous year, our auditors have entered substantial depreciation.
- Revenues shown on the Comparison statement do not make clear that the
difference is in part due to (a) the number of units that were off line
in 2012 because of move -outs and (b) the increased need on the part of new
applicants for deeper subsidies.
- As to the spreadsheets, Karen noted that:
- The entry for insurance does not reflect ordinary expenditures as the Town
did not bill us until this year for coverage for the previous two years.
- Garfield expenditures are higher than normal because of water damage,
most of which was expensed rather than capitalized.
- Storm damage also is responsible for the relatively high maintenance costs
for 336 Bedford Street.
- Phillip Road shows high maintenance, necessitated by storm damage and
the failure of the tenant who just moved out to have given any attention
at all to her obligations for tenant upkeep.
- Expenses at Rangeway are in line with our normal program for sprucing -
up when a tenant leaves.
- Maintenance figures for One Wilson Road reflect some but not all of the
start-up outlays for a new property; most of these have been capitalized.
- One of the Locke Village units shows no rent received but this is because
the unit is under a Section 8 subsidy, which shows up 3 lines below.
C. Karen was then thanked for her great work in arming the Board with current data.
D. The question whether the Ryan firm can review and amend our annual statements
and also serve as our auditors was again addressed. It was left that Dave will reengage
the Town Manager on this matter.
2. Leary Property.
Dave Eagle reported that the old house has been removed from the site.
Dave noted that some of the bills in connection with the demolition of the old house
have come in; the bill for the main demolition is pending. Since the Leary project will be
CPA funded, Dave asked how we begin to pay these Leary bills using CPA funds. It was
resolved that our counsel will speak to the appropriate Town official(s) to see how this
may be accomplished.
It was noted that Aaron Henry seems to be of the opinion that our set -aside CPA
Funds may be drawn against for CPC funded projects as long as arrangements are made
in advance, without violation of the restriction against use of CPA moneys as
reimbursement to \LexHAB. This, too, Pat Nelson will confirm.
In answer to the question "Who owns the Leary housing parcel ?" it was noted that as
of the present, the Town is the owner, not LexHAB.
3. Parker School
Pat Nelson reported that a useful meeting had taken place at which the concerns of
the Trustees and those of the Housing Authority (and LexHAB) were addressed.
4. Fairview
Bob stated that we are scheduled to appear before the Selectmen next Monday to
present our report of activity to date. We have asked for 15 minutes to present the report;
we have indicated that we do not expect any decision from the Selectmen at this time.
Bob further indicated that he planned to present the first and the revised lay -out plans
and not much more.
There was discussion as to what in addition ought to be presented. Bob Pressman
warned that despite the limited purpose of the meeting, the Selectmen would likely accept
comment from the neighbors.
It was therefore decided that in addition to E -Mail notice of the meeting we should
also leaflet the neighborhood so that all interested parties will know what is proposed.
5. Busa Farm
Lester reported that he and Carter Scott had met with Carl Oldenberg . CarI made
several suggestions with regard to the interior lay -out but otherwise seemed to endorse
Carter's work.
Dave noted that the Board should realize that the newly proposed basement unit will
need a pump for sewer ejection as the trunk line in Lowell Street is a few feet too high to
accommodate gravity feed.
In answer to the question "What do we estimate the costs of the new units to be ? ",
Dave stated that r projections have been provided by Carter; these can be made available.
6. Rules and Regulations
Pat Nelson reported that she has integrated many DHCD lease provisions into our
lease forms.The new lease is on line together with new Rules and Regulations (still in
draft form). Board members are invited to review both and respond to Pat.
Pat pointed out that our Guidelines have not yet been integrated; this will come next.
In answer to the question "Will our Board eventually adopt these drafts ? ", it was the
consensus that this should occur.
7. Next Meeting
February 21 at 7 am was chosen as the next meeting date.
8. New Business
No new business was proposed.
9. Executive Session
The Vice - Chairman then proposed that the Board go into Executive Session to
consider tenant issues without return to open session, declaring that consideration of
same in open meeting would have a detrimental effect on the negotiating position of a
public body, namely LexHAB, and might also adversely affect tenant privacy rights.
The members of the Board were then individually polled. Each member voted in
favor of the Vice - Chairman's proposal. The time was then 8.05 A.M.
Respectfully submitted. William C. Hays
Secretary pro tern