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HomeMy WebLinkAbout09/26/2006 ORIGINAL MINUTES OF WHEAT RIDGE HOUSING AUTHORITY September 26, 2006 5:00 p.m. A. CALL THE MEETING TO ORDER The meeting of the Wheat Ridge Housing Authority was called to order by Chair Brungardt at 5:00 p.m. in the council chambers of the Municipal Building, 7500 West 29th Avenue, Wheat Ridge, Colorado. B. ROLL CALL OF MEMBERS Authority members present: Cheryl Brungardt Kent Davis Kathy Nuanes Terry Womble Commissioners absent: Janice Thompson Also attending: Alan White, Community Development Director Dick Matthews, Housing Authority Accountant Henry Wehrdt, Construction Manager Betty Maybin, Cornerstone Realty Larry Nelson, Cornerstone Realty Denise Waddell, First Bank Ann Lazzeri, Recording Secretary C. APPROVAL OF MINUTES - August 8 and 22, 2006 It was moved by Kent Davis and seconded by Kathy Nuanes to approve the minutes of August 8 and August 22, 2006 as presented. The motion carried 3-0 with Terry Womble abstaining. D. OFFICER'S REPORTS There were no officer's reports. E. PUBLIC FORUM There was no one to address the Authority. F. UNFINISHED BUSINESS A. Update on projects HOUSING AUTHORITY September 26, 2006 - 1 - Larry Nelson reported that the contract on property at 29th and Ingalls was terminated because the appraisal came in $145,000 lower than the selling price and the seller was unwilling to negotiate. Henry Wehrdt reported that it will be necessary to resubmit an application for the $150,000 grant if another property is found. A 3-month extension has been granted to apply for the grant. Cornerstone Realty is looking for another property. Henry Wehrdt reported that, because a sealed bid was inadvertently opened for the Parfet property, it was necessary to re-let all the bids. The bids originally received were all above the projected costs with the low bid being around $111,000. The projected cost was between $93-95,000. It was moved by Terry Womble and seconded by Kathy Nuanes to authorize a cap of $105,000 for the bids and, if bids come in higher, Henry Wehrdt will come back to the Authority for direction. The motion carried 4-0. G. NEW BUSINESS Denise Waddell of First Bank explained that she had concerns with the appraisal on the 29th and Ingalls property and therefore advised that the contract be terminated. She also stated that a loan would not be approved if deed restrictions such as restricting sales to senior citizens were in place. Such deed restrictions negatively affect the market value. There are things that could be done, however, to make a property appealing to seniors. Larry Nelson reported on the current real estate market in Wheat Ridge and reported that six out often units sold in the price range of$129-150,000 were Housing Authority units. Because garages sell units, Cornerstone Realty will be looking for properties with garages or properties where garages could be built. Because ofthe current state of the real estate market, he suggested reducing the price of remaining Parkside units. Larry Nelson also requested the ability to send letters to property owners of potential Housing Authority proj ects directly from the Housing Authority rather than from Cornerstone Realty. . It was moved by Kathy Nuanes and seconded by Terry Womble to authorize Cornerstone Realty to reduce the price of remaining Park Side units by $2,000. The motion passed 4-0. H. OTHER There was no other business to come before the Authority. HOUSING AUTHORITY September 26, 2006 -2- It was moved by Kathy Nuanes and seconded by Terry Womble to adjourn the meeting at 5:42 p.m. The motion carried 4-0. I. ADJOURNMENT G~a~~ CHERYL RUNGARD Chair HOUSING AUTHORITY September 26, 2006 - 3-