HomeMy WebLinkAbout02/25/14AGENDA
February 25, 2014
CITY COUNCIL CHAMBERS
4:00 P.M.
Individuals ivith disabilities are encouraged to participate in all public meetings sponsored b the City of Wheat
Rich e= Call Heather Ge wr, Public Q
In rination f
ficer cat 3-235 6 a
-282t least one week in advance o 'a meeting
if You are inter eVed in participating and need inclusion assistance,
A. Call Meeting to Order
B. Roll Call
C. Approval of Minutes: January 28, 2014
D. Officers Reports
E. Public Forum
F11000NT0FflnT=
1. Update on Single Family Homes Rehab and Sales
G. Old Business
1. Fruitdale School
Mcum=
1. A Wesolution Amending the 2013 Budget by Restatement and Enacting a Budget
and Appropriation for the Year 2014.
1. Adjournment
Minutes of Meeting
January 28, 2014
The meeting was called to order at 4:01
Conference Room of the Municipal Bpi
Colorado.
Authority Members Present:
in the Lobby
," ue, Wheat Ridge,
Bayne, Deputy Director
Ken Johnstone, Community Development Director
Larry Nelson, Cornerstone Realty
Betty Maybin, Cornerstone Realty
Henry Wehrdt, JCHA
Kim Waggoner, Recording Secretary
IN
All attendees
Chair Thompson had one correction on page four. She asked to change, "Mr. Thomas
Agreed to Mr. Abbott Agreed."
It was moved by Thomas Abbott and seconded by Janice Thompson to approve the
minutes of September 24, 2013 with the correction on page four. Motion carried 2-0
with Ms. Walters, Mr. Harr and Ms. Langworthy abstaining.
Housing Authority Minutes
January 28, 2014
APPROVAL OF MINUTES: September 24,2013
There were no officers reports.
E. PUBLIC FORUM
No members of the public were present to address the Authority at this time.
I
Ms. Payne stated Jefferson County has a'.
Program Income funds to purchase two 1
purchase, rehabilitate and sell the homes
Mr. Nelson stated the housing rnarko
very difficult to find homes at the ir
program. A home on Otis Street has
decided to accept the bid fton the H4
rehabilitated and resold for low and i
scheduled for February 28.
ed tl . . .......
to retain $394,000 of the
The Authority needs to
if end
'f It e
year per the agreement.
A
tight in Wh He stated it is
price po int mandate b the CDBG
le bids but
ntract, 11 seller "-� multiple
the pr e b e
oi xe housing. The I is
Mr. Wehrdt prepared a scope of work of proposed improvements for the rehabilitation.
`
The scope does not include costs for a sewer line. scope. TI ie scope of work is a
guestiniate of contractor bids. Mr. Wehrdt shared photos of the property and the scope
of work torchabilitate the property.
jj difference between the purchase price and
the maximum allowed to purchase the home will be allocated to the rehabilitation. He
stated any iterns can be removed and others may be considered by the Housing
Authority.
Jefferson County Housin 1, g charges a minimum construction management fee
of 5%.
Chair Thompson suggested a tour of the house for the members. Mr. Nelson stated that
could occur after the closing.
Mr. Harr asked about square footage. Mr. Nelson stated the house is 1084 square feet
and was built in 1950.
Chair Thompson asked if this house could be ADA accessible. Mr. Wchrdt and Mr.
Nelson stated no.
Mr. Nelson stated he is looking for another house to purchase and information tips are
welcome.
Housing Authority Minutes 2
January 28, 2014
1. Fruitdale School
ME
Ms. Payne reviewed the memo and provided background information on Fruitdale
School, The RI draft document was revieweq,* discussed by the Authority.
Mr. Abbott suggested adding some langu aighlight the value of the
proximity of Clear Creek Waterway bikeway and the facilities at
NNIVMK,g�,,,�,,, gg
Prospect Park.
Rezoning and re was
Ms. ed adding language for transit access such as the bus route and
the gold 'EWW"
Chair Thompson asked when the RFP would be released. Ms. Payne stated the
end of February.
Mr. Abbott asked about the timeline for responses. Ms. Payne stated 60 to 90
days.
Chair Thompson stated the Housing Authority has done due diligence.
Housing Authority Minutes 3
January 28, 2014
1111
11
M
Mam
1. Resolution Establishing A Designated Public Place for the Posting of Meeting
Notices as Required by the Colorado Open Meetings Law,
ikesolution 71MM
A ll. 1-
Posting of Meeting Notices as Required by the Colorado Open Meetings Law.
Motion carried 4-0. Mr. Abbott stepped out of the room.
2. Resolution Authorizing the Purchase and
There was some discussion and it was
CD Program.
of Real Property.
designating the
It was moved by Tracy Langw(
Resolution 02-2014, Resolution
Property. Motion carried 5_0.
3. Ms. Payne stated Dick M
resigned. We are looking ft
Langworthy have a referral.
Housing Authority Minutes
January 28, 2014
R T117711"M I & I I I 1111sh
r the Housing Authority has
it Thompson and M.
M=
Kim Waggoner, Recording Secretary
M
It was moved by Chad Harr an
Cost of Goods Sold
s a r. of 555 - Purchase I
of
Summary Rehabilitation Costs
Ending Cost of Units
Total COGS
Grass Profit
• r
W Income/Expense
Other Income
CDBG Grant
• .-
Expense 910 - Interest
Total Other Expense
731,400
764,900
700,000
420,
22,587
1,602
0
0
1,846
1,638
1,500
1,500
0
12,570
0
12,
350
0
0
0
756,183
780
707500
433,500
1,340,017
869,582
869,582
241,849
0
0
8,000
360,00
369,195
202,852
100,000
60,
- 869,582
- 241,849
- 225,000
- 241,849
839,630
830,585
744,582
420,
- 83,447
- 49,875
- 43,082
13,500
2,109
995
2,018
546
75
50
100
100
28,927
25,450
27,685
13,974
1,157
2,512
1,107
1,379
35,107
36,715
33,600
20,160
11,805
5,050
6,000
6,000
1,408
1,409
1,600
1,600
5,696
6,798
8,000
8,
P 150
43
500
500
10 200
200
200
200
' 5,995
2,209
5,000
5,000
0
0
0
0
807
0
1,000
0
96
100
500
500
0
16
250
100
27
0
100
100
1,196
3,616
2,000
2,000
65
84
250
250
800
0
0
0
5,238
2,092
4,000
4,000
100,858
87,339
93,911
64,416
-184„
- 137,214
- 136,993
- 50,910
0
- 642,364
0
394,000
0
0
0
0
0
0
0
0
0
- 642,364
0
394
. 184,305
- 779,578
- 136,993
343,080
1,913,880
1,729,675
1,729,675
950,097
1,729,675
950,097
1,592,682
1,293,187
Wheat Ridge Housing Authority
02/19/14 Balance Sheet
As of December 31, 2013
Total Current Assets
Total Current Liabilities
Long Term Liabilities
360 - Tenant Damage Deposit
Total Long Term Liabilities
Total Liabilities
Equity
Net Income
465. Fund Balance
Total Equity
•
2,906
5,000
10
160,815
716,081
741,061
1,803
1,802
241,849
213,477
0
193,727
0
144,541
0
170,000
0
147,838
241,849 869,5811
962,650 1,778,261
962,650 1,778,261
12,553 46,985
12,553 46,985
0 1,602
0 1,602
12,553 48,587
(779,577) (184,305)
1,729,674 1,913,979
950,096 1,729,674
962,650 1,778,261
WHEAT RIDGE HOUSING AUTHORITY
RESOLUTION NO. 03
Series of 2014
TITLE: A RESOLUTION AMENDING THE 2013 BUDGET BY
RESTATEMENT AND ENACTING A BUDGET AND
APPROPRIATION FOR THE YEAR 2014
THEREFORE, BE IT RESOLVED by the Wheat Ridge Housing Authority as follows:
Section 1. The amended year 2013 budget by restatement and the year 2014 budget as shown on
Exhibit I attached hereto are hereby approved.
Section 2. Sources of revenue for the Authority are sales of units rehabilitated by the Authority,
Community Development Block Grant funds, and interest earned.
Section 3. Total expenditures of the Authority do not exceed available revenues and beginning
fund balance.
Section 4. A certified copy of this resolution shall be filed with the Division of Local
Government.
ADOPTED the _ of 2014.
WHEAT RIDGE HOUSING AUTHORITY
Secretary to the Authority