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HomeMy WebLinkAbout07/14/2014 - Minutes THE 914th MEETING BOARD OF COMMISSIONERS OF THE HOUSING AUTHORITY,CITY OF RENTON MONDAY,July 14th 2014 AT 9:00AM 2900 NE 10TH ST.RENTON,WASHINGTON 98056 MINUTES The Board of Commissioners of the Renton Housing Authority met for the monthly board meeting on Monday July 14th 2014.The meeting was held at the A.J.Ladner Administration Building,2900 NE 10th St.Renton,Washington.Chairperson Marsh called the meeting to order at 9:00 am. 1. COMMISSIONERS PRESENT:Thomas Tasa,Gerry Marsh,Sally Eastey.Merna Wheeler and Maxine Anderson had an excused absence.Also present:Mark Dropper via teleconference,Executive Director,Owen Mayfield,Director of Finance and Accounting, and Kaelene Nohis,Executive Associate.Chairperson Marsh Declares a quorum present. 2. CONSIDERATION OF MINUTES MOTION by Commissioner Eastey and a second by Commissioner Tasa to approve the minutes of the 913th board meeting on June 9th 2014. Ayes:All Nays:None Motion Carried 3. AUDIENCE COMMENT (Speakers must sign up prior to the Board Meeting).Each speaker is allowed five minutes.The initial audience comment period is limited to one-half hour.A second audience comment period later in the agenda allows five (5)minutes for each person,for a total comment period limited to the time constraints of the board. 4. STATE AUDITORS ENTRANCE CONFERENCE(9:15-9:45) Renee Meyer,Wendy Choy,and Paul Zeibert are the audit team this year. Audits to be completed:financial statement/accountability audit as well as a single audit. (In compliance with federal laws and regulations).The accountability audit is a 2 year audit.2012 and 2013 Single Audit:FY 2013.The audit will include an analysis of rent collection,procurement and public works,payroll and disbursements,financial conditions. After the audit,the team will present the results for the Board of Commissioners. The "single audit"will focus on the HOME investment program(Glenwood Townhomes)as well as Public and Indian Housing(LIPH).Reports will be finalized in September and submitted by September 30th..HUD requires the auditors also certify the REAC submission which is due by the end of September. The results of the audit will be presented to the Board after the audit is complete. 5. CONSENT AGENDA 5.1. Local Government Investment Pool—June 2014 Same as last month. 100k investment bond will show up next month.State pool is relatively the same as last time. 5.2. Checks Issued Report—June 2014 MOTION by Commissioner Tasa and a second by Commissioner Eastgy to approve the Consent Agenda. Ayes:All Nays:None Motion Carried 6. FINANCIAL 6.1.Financial Statements as of May 2014. RHA operated at a surplus of$350k through May vs a budget of$358k.The LIPH properties operated at a surplus of$11 k.The Senior properties operated at a surplus of $60k The Market-Rate properties operated at a surplus of$292k.The S8 program operated at a deficit of$12k. The mission of the Renton Housing Authority is to provide decent,quality,affordable housing in a safe environment to people with low incomes who make Renton their home. Through partnerships with our clients, service providers and other groups, we will responsibly increase and enhance our housing programs while providing opportunities for those we serve to become self-sufficient. Net Assets totaled$32.3M at the end of May with$7M classified as"unrestricted".RHA held$7.4M is cash and liquid investments at the end of May. MOTION by Commissioner Tasa and a second by Commissioner Eastey to approve the Financials as presented. Ayes:All Nays:None Motion Carried 6.2. Refinance Term Sheet on Rolling Hills Banner Bank has offered a traditional installment loan secured by the Rolling Hills Townhomes.The terms are as follows: $1.9M loan at 4%interest amortized over a 25 year period for a 10 year teitu.The monthly payment will be-$10k.The proceeds of the loan will be used to pay down the JPMorgan/Chase line of credit which now carries the debt on the Rolling Hills Townhomes. 6.3. Section 8 Utilization Update—June 2014 Utilization is at 87%program size is growing due to the allocation of the other vouchers. 87%is due to vouchers allocated in MAY,JUNE,then JULY.For a full 100 added to phase one.There are 44 families right now out searching for housing for relocation out of sunset terrace. In the next weeks and months,those vouchers will be wrapped up.So the unit tally of residents leased in our jurisdiction will go up.We have 41 project based vouchers.There is a lot of work happening behind the scenes.Out utilization is matched with our level of use on the cash side.This metric shows us the solvency of the section 8 program. 6.4.Resolution#2466-2014:Seeking the approval from the Board of Commissioners to obtain permanent financing from Banner Bank on the Rolling Hills Townhomes.Banner Bank has offered a 4%loan up to$1,950,000.The term of the loan is for 10 years with a 25 year amortization.The proceeds of the loan will be used to repay the JPMorgan/Chase line of credit where debt from the purchase of the property now resides.The loan will be collateralized by the Rolling Hills property. MOTION by Commissioner Eastey and a second by Commissioner Tasa compelling the Executive Director to obtain permanent financing from Banner Bank on the Rolling Hills Townhomes.Banner Bank has offered a 4%loan up to$1,950,000.The term of the loan is for 10 years with a 25 year amortization.The proceeds of the loan will be used to repay the JPMorgan/Chase line of credit where debt from the purchase of the property now resides.The loan will be collateralized by the Rolling Hills property. Ayes:All Nays:None Motion Carried RESOLUTION#2466-2014 THEREFORE,BE IT RESOLVED by the Commissioners of the Housing Authority of the City of Renton.WA the Executive Director shall execute documents under the signature of Mark Gropper,on behalf of RHA to obtain permanent financing from Banner Bank on the Rolling Hills Townhomes.Banner Bank has offered a 4%loan up to $1,950,000.The term of the loan is for 10 years with a 25 year amortization.The proceeds of the loan will be used to repay the JPMorgan/Chase line of credit where debt from the purchase of the property now resides.The loan will be collateralized by the Rolling Hills property. DATE: t rust , 1 __- Signature: Ge d arsh,Chairperson T: Mark . GoH r,S tary 7. OLD BUSINESS 7.1. Sunset Terrace Update:Envelope Study(Exhibit)and Choice Neighborhood Grant efforts[SHA passing,KCHA(Dan Watson and Daniel Landes) interested The mission of the Renton Housing Authority is to provide decent,quality,affordable housing in a safe environment to people with low incomes who make Renton their home. Through partnerships with our clients, service providers and other groups, we will responsibly Increase and enhance our housing programs while providing opportunities for those we serve to become self-sufficient. Nue 'tore Sunset terrace:Transfer of density between buildings.Allows for RHA building 5 to increase its height,to enjoy some transfer of density,the remaining density transfer can be moved onto Edmonds site.This is accounted for in density in planed action EIS. Planned action had a set of 3 different alternatives,we chose the second,which was not the highest density,(not highest possible density)we believed that was that largest that would be allowed by stake holders.Density removed from park area of sunset terrace and unto the replacement housing.Concern about going high enough to building 5, which might trigger commercial Davis bacon.However,if modular,factory wages do not have to follow same constraints. SHA passed on being lead applicant for the CNI grant.Dan Landes and Dan Watson at KCHA are very interested in being a lead or co applicant. 7.2.KAT update.A bit of a pause on the finishing of the building envelope.Might not open until mid-September instead of august.Housing Washington Tour possibly still happening. 7.3.Resolution#2465-2014:Sought by staff to authorize the Executive Director to execute an Agreement to enter into a Housing Assistance Payment(AHAP)contract and the associated Housing Assistance Payment(HAP)contract on the Kirkland Avenue Townhomes effectively project-basing sixteen Housing Choice Voucher(PBV HCV) increments and two additional Veterans Administration Section 8 Housing(VASH) vouchers,underwriting the low-income tenant rents in all eighteen KAT units effective August 1,2014,or as soon as temporary certificate of occupancy is awarded by the City of Renton. MOTION by Commissioner Eastey and a second by Commissioner Tasa enter into a Housing Assistance Payment(AHAP)contract and the associated Housing Assistance Payment(HAP)contract on the Kirkland Avenue Townhomes effectively project-basing sixteen Housing Choice Voucher(PBV HCV)Mete,cents and two additional Veterans Administration Section 8 Housing(VASH)vouchers,underwriting the low-income tenant rents in all eighteen KAT units effective August 1,2014,or as soon as temporary certificate of occupancy is awarded by the City of Renton. Ayes:All Nays:None Motion Carried RESOLUTION#2465-2014 THEREFORE,BE IT RESOLVED by the Commissioners of the Housing Authority of the City of Renton.WA to Enter into a Housing Assistance Payment(AI-TAP) contract and the associated Housing Assistance Payment(HAP)contract on the Kirkland Avenue Townhomes effectively project-basing sixteen Housing Choice Voucher(PBV HCV)increments and two additional Veterans Administration Section 8 Housing (VASH)vouchers,underwriting the low-income tenant rents in all eighteen KAT units effective August 1,2014,or as soon as temporary certificate of occupancy is awarded by the City of Renton. DATE: ugus 2014 Signature: a Mars ,Chairperson Mark '-.Gro JP, :y;?(Alejle 8. NEW BUSINESS 8.1.Term Status Reappointment of Vice Chairperson Maxine Anderson,the expectation of subsequent accession to chair 2014/2015. 8.2.Annual Meeting of the Board of Commissioners Monday September 8,2014 at 5:00pm: following a recess of the traditional 9:00AM morning meeting,at a venue to be determined.Venue and special guest preferences discussion. Bill from Catholic Community Services was asked.Each year an inspirational guest to join.Vince's right next door.Kaelene will call Vince's about Monday September 8th at 5:00pm.Board and some select staff 25 people. The mission of the Renton Housing Authority is to provide decent,quality,affordable housing in a safe environment to people with low incomes who make Renton their home. Through partnerships with our clients, service providers and other groups, we will responsibly increase and enhance our housing programs while providing opportunities for those we serve to become self-sufficient. 9. EXECUTIVE DIRECTOR NOTEWORTHY MEETINGS AND ACTIVITIES 9.1.June 10,Sunset Area Community Investment Strategy,monthly meeting facilitated by City of Renton 9.2.June 10,Master Site Plan-Sunset Redevelopment Area Concept Presentation,Burke Assoc.and CH2MHi11,City Council Chambers 9.3.June 11,King County,Housing Finance Program on the RHA Development Pipeline, Funding Pre-application Meeting w/Schemata,SRI,and City 9.4.June 11,KAT:Pavilion Construction,Vice President,Brian Gerritz on May'14 Pay Application apprenticeship labor prerequisite and debated change order for compensation by RHA due to construction delays caused by permit issuance and L&I modular construction approval.(Meeting resulted in RHA insisting the Pavilion deliver viable apprentice plan and provides documentation of state-caused construction approval delays.) 9.5.June 12,Housing Development Consortium(HDC),Audit Committee,review and sanction completion of 2013 audit by Loveridge Hunt&Co. 9.6.June 18,Renton Community Foundation,Finance Committee monthly meeting 9.7.June 19,Salvation Army,King County Advisory Board,monthly meeting at Divisional Headquarters,Seattle WA 9.8.June 19,HDC,Practical Development Solutions Affinity Group and interested development consultants,KAT modular project tour and question-and-answer workshop 9.9.June 24,Master Site Plan-Sunset Redevelopment Area work group to wit land use dedications,lot line adjustments,infrastructure,park,storm water,and real estate transaction principles 9.10.June 25—July 4,Mark on camping vacation(Redwoods,Yosemite,Tahoe,Lassen Volcano) 9.11.July 8,Sunset Area Community Investment Strategy,monthly meeting facilitated by City of Renton 9.12.July 8,Renton Community Foundation,meeting with City to review Custer Parks fund and Senior Center fund uses and objectives 9.13.July 9,Housing Development Consortium monthly meeting,WSHFC training room (1000 2nd Avenue,28th Floor) 10.INFORMATIONAL ITEMS 10.1.Resident Newsletter 10.2.Governor's 2014 Smart Communities Award 11.UPCOMING EVENTS 11.1.Thursday August 14th,All Staff Picnic 12:00-5:OOp. 11.2.Tuesday August 19'h,webinar training to Housing Authorities on Open Public Meetings Act(OPMA) 11.3.CRT barbeque July 23'12014. 12:30p 11.4.Renton Regional Non-profit Board will hold its annual meeting the 2nd Monday of August at 11:00AM. 12.AUDIENCE COMMENT 13.ADJOURN 10:44AM The mission of the Renton Housing Authority is to provide decent,quality,affordable housing in a safe environment to people with low incomes who make Renton their home. Through partnerships with our clients, service providers and other groups, we will responsibly increase and enhance our horning programs while providing opportunities for those we serve to become self-sufficient.