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HomeMy WebLinkAbout2018-01-18-LEXHAB-min LEXHAB BOARD MINUTES January 18,2018 Minutes of the meeting held at the offices of LexHAB at 1620 Massachusetts Avenue in Lexington on January 18, 2018. Members present were Bob Burbidge, Les Savage, Gerry Howell, Bob Phelan, Martha Wood, Bill Hays, Patricia Nelson and Bill Kennedy via Conference Call remote. Guests present were Bill Daly and Bob Pressman The Co-chairman, Bob Burbidge presided. The meeting opened at 7:06 a.m. 1. GUEST SPEAKER—Bill Dailey 2. Bill presented some ideas for a project that would assist Town employees in buying a home in Lexington. Bill and the Board discussed the difficulties Town employees have in affording a home in the expensive Lexington Market. Solutions discussed included funding of a second mortgage and a "rent to own" program. Bill and the Board agreed to continue the discussion. No Vote taken for this discussion. 1. Minutes Action on the minutes for the meeting on December 14, 2017 will be postponed. Motion to postpone acceptance of the minutes for December 14, 21017 was made and seconded, motion passed. Bob Burbidge welcomed Pearlene Varjabedian as new Office Manager. 2. Financials Presented by Gerry Howell. Reviewed End of 2017 Balance Sheets and Fixed Assets • Bottom line is 219K- NET INCOME vs 136K from last year • Karen Iverson requested if the new version of QuickBooks can be purchased—all agreed no need to vote upon. • Bill Kennedy inquired if we had to do yearly audits? Confirmed that yes we do. Board will seek proposals from other auditors for comparison. • Bill Kennedy requested reimbursement for Maryann's gift of$139. All parties voted, motion to accept—all in favor by Roll call. 3. Farm View(formerly Busa Property on Lowell Street) Update * Pat Nelson reported that the ZBA decision is expected to be filed on Friday. * Selection of Contractor— Les reported that the plans and specification have been put out for bids. Waiting responses. Bid due date is the end of January • The Board discussed the report of the Estimator for costs of construction. The Board is currently reviewing the estimate. 4. Wright Farm * Les Savage and Pat Nelson attended meeting with Conservation Committee, Liz Rust, Carol Kowalski and Town manager regarding Wright Farm. The change in the lot line will be presented to the Conservation Commission and Town Meeting. * The remodeling was put out to bid and there were no bidders. Arrangements are being made to rebid the project. * Pat Nelson has prepared a Purchase and Sale Agreement for LexHAB's purchase of the property,to be reviewed by Town Counsel. Vote to authorize Bob Burbidge to sign the Wright Farm Purchase and Sale Agreement, on terms and conditions in his discretion. Motion was made, seconded and approved unanimously. * Les Savage indicated approximately$2500 is owed to Town for the costs of having the engineer redraw the lot line.Vote to Accept, Favored by all by Roll Call—Motion to accept * Pat Nelson was asked to inquire about the availability of CPC funds to pay the engineering costs. 5. Director Position * Henry Liu reported on efforts to hire an Executive Director. An interview will be scheduled with the most promising candidate. 7. Next Meeting * Pearlene to put together a Coffee Assignment list and distribute. The next meeting of the LexHAB Board,will be held at the LexHAB offices at 1620 Massachusetts Avenue in Lexington at 7:00am on February 13, 2018. 8. 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 semi-public body, namely LexHAB, And might also affect adversely the privacy rights of tenants and that the Board not return open session at the end except to adjourn.