The URL can be used to link to this page

Home My WebLink About2019-09-25-LEXHAB-min LexHAB Board Meeting 1620 Massachusetts Avenue,Suite 4, Lexington, MA 02420 September 25,2019 at 7:00 AM Minutes of the meeting held at the offices of LexHAB at 1620 Massachusetts Avenue in Lexington on September 25, 2019 Members present were Bill Kennedy, Bob Burbidge, Les Savage, Bob Phelan, Martha Wood, Bill Hays, Donna Leary, Henry Liu, Gerry Howell and Pat Goddard. Also present were Patricia S. Nelson, counsel to LexHAB and Bob Pressman of the Lexington Housing Partnership. The Chairman, Bill Kennedy presided. Minutes from the August 23, 2019 meeting were reviewed and accepted as amended. WORK ORDERS—PHA Pat Goddard mentioned PHA System will improve tracking. Bob Pressman reminded about the renovation Projects and improvement allowances in regard to CPA Funding. FINANCIAL REPORT Gerry Howell Reviewed • Balance sheet as reviewed • LEHAC Funds did come in to account. • Total Cash 1.82 Million. We need to subtract CD's. Collateral $440K Motion made to accept Treasurers report. Motion approved. FARM VIEW • Pat Goddard reviewed and indicated everything is moving along. Made a request to Arlington Town for Triumph to store Trailer. • Fence is being put up. Digging Test puts, stripping top soil. Reminded that the building process May be cumbersome. • Needs document that indicates that LEXHAB does not pay permit fees. • Presence of Aquiefer under the house is suspected. Karen Kowalski wants it to be checked. • There is a drain pipe that has also been questioned. If active there will be a change order that needs to go through. • Lester Savage indicated there will be soil quality testing. • Bill Kennedy asked about a contingency. • Henry Liu Questioned the update on the meeting with the neighbors. Bob Burbidge indicated there was not much concern there. WRIGHT FARM • Lester Savage discussed that it has been insulated and getting ready to board.There was a termite treatment which took place. • Now getting ready for the Minuteman Tech Students to come back. Schedule is still good for the spring. • Pat Nelson—has a few deed drafts going in and wants to give a final package for DHCD on this. EMPLOYEE HOUSING PROGRAM • Bill Kennedy reviewed the meeting held with Town Employees. Explained the program indicating there will be more properties to offer in the future. 186 Bedford Street was discussed as it will be discussed at next month's Town Meeting. 13 Units will be rentals and all are one bedroom looking for LEXHAB vote Community Preservation Act Funding • Pat Goddard attended the meeting to discuss Vine Street property regarding funding. Pick up where 2011 reports were left off—5 to 6 units for funding. Request is for$74K to begin final plan assessment. • Meeting with community to assign architect for plans then come back to Community Preservation and start the Design process through schematic design. Once design schematics are done,do the public process • Bob Burbidge questioned what will we show the community? • Pat Goddard stated that we must show the options, express the critical need for the Town and show the design and construction. This may be brought up at Spring Town Meeting but funds are not available until July 1. • It will be a multi-year effort. • Bob Pressman indicated a discussion regarding Hosmer house being moved off site. Met jointly with historic commission. Seems that there would be no objections to it being moved offsite. • Lester questioned the application status. October 11 is when it needs to be submitted. The week of October 20 needs to be presented. Possibly October 17, 2019 is the meeting. • Pat Goddard emailed a copy of the Proposal and request for funding. Lester to work with Pat to submit proposal. Motion made to accept all in favor for Lester Savage and pat Goddard to have the authority to review the CPC Submission for$75K funding to the Community Preservation. All in Favor. FARMVIEW • Pat Goddard reviewed in June/July the board authorized a letter to the Town supporting Triumph where LexHAB will be responsible for funding. Mass Housing fell through due to the amount per square foot. Pat Nelson explored the Cummings Grant which also fell through. Presently there are no additional resources for funding to take$330K out of cash account. • Bill Kennedy suggest approaching CPC funding at Town Meeting next spring. He stated that we need to consider how to fund this. We have%500K that is locked in mortgages. • Pat Goddard indicated by next spring we will have a firm picture of what is needed. • Bob PHalen pledged for a rate lock. Starting a $3 million project with $300K short. We should try to refinance at a higher rate. Bob thinks it is a mistake to return to Town for more funding. Perception is important. He also stated that we need to come up with $120K for Wright Farm as well. • Lester Savage agrees with Bob Phalen in freeing up funds. He is not in agreement to go before the Town Meeting again • Pat Goddard stated we are being forced to do Chapter 149 bidding and have a higher cost in a less competitive market. • Bob Pressman indicated CPA does not reimburse. If we received the$300K we may have to wait until July1 to complete the work. If contractors are willing to wait it may work. • Henry Liu discussed the progression of the project due to public bidding • Pat Goddard stated it is helpful to look at the balance sheet.Current assets will result in potentially a higher interest rate. Our capital expenditure is exceeding our cash flow. • Donna Leary,Gerry Howell, Bob Burbidge, Bill Hays, Martha Wood and Henry Liiu agree we should go back and ask for funding. • Pat Nelson suggested giving Fairview as an example of LexHAB success to build. • Lester will explore how to free up funding and utilize in cash. Motion to go back to Town meeting in the spring for additional funds. Two(2)rejected/Seven (7)in Favor • Pat Goddard indicated we may want to consider asking for Special Article Report. —A very short overview of the project successes. Need someone to present Fairview, Wright Farm, Farm view. Lester Savage is in agreement Meeting is November 12 and wither Bob Burbidge or Lester Savage will present. INTRODUCTION OF NEW ACCOUNTING ADMINISTRATOR Gerry Howell introduced Kate Murphy, new Accounting Administrator. Reviewed the online banking set Up. Gerry Howell is in charge of it. The beauty of the new online system, is that Kate will set up the Payments and release the funds online to pay the vendors... Bob Burbidge, Bill Kennedy are also signees To account. Rent checks can also be deposited on line. Bob Phalen will continue to review invoices. Kate Murphy reviewed her personal experience and professional background, she is happy to work here in Lexington. Pat Goddard announced his last day will be November 22, 2019. His wife is retiring and he has decided to also retire. • Needs to prioritize looking at finances. Discussed this before committing to a third person. We need to look at present staff and their capabilities. Finances need to be looked at deeply. • Bill Kennedy—need to analyze the transition and request a few people from the board to do this and help with the transition. NEXT MEETING • The Board scheduled the next meeting for Wednesday October 23, 2019 at 7 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 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.