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HomeMy WebLinkAbout10/26/2005 CITY OF WHEAT RIDGE HOUSING AUTHORITY Minutes of Meeting October 26, 2005 ORIGINAL A. CALL MEETING TO ORDER The meeting was called to order at 7:00 p.m. by Chair DiTullio. B. ROLL CALL Authority Members Present: Cheryl Brungardt Kent Davis Jerry DiTullio Kathy Nuanes Janice Thompson Others Present: Alan White, Community Development Director Larry Nelson, Cornerstone Realty Betty Maybin, Cornerstone Realty Henry Wehrdt, Project Manager Dick Matthews, Accountant Ann Lazzeri, Recording Secretary C. APPROVAL OF MINUTES It was moved by Kent Davis and seconded by Cheryl Brungardt to approve the minutes of June 22, 2005. The motion passed unanimously. D. OFFICERS REPORTS There were no officer reports. E. PUBLIC FORUM There was no one to appear before the Authority. F. UNFINISHED BUSINESS . Grant Application - Henry Wehrdt reported on the Housing Authority's application for a $75,000 grant. He is in the process of providing final details such as proof of insurance and verification of matching funds. . Update on Ouail Square Unit - Larry Nelson reported that there have been several showings, but no contract so far. There are a lot of available properties in the present real estate market. He suggested that instead of offering a $5,000 second mortgage to be forgiven over a 5-year period, it Housing Authority Minutes 10-26-05 - 1- might be better to offer $5,000 in closing costs or down payment assistance. A reduction in price could also be considered. There was a consensus of the Authority to direct Cornerstone Realty to either offer $5,000 toward closing costs or down payment assistance in marketing the Quail Square unit. G. NEW BUSINESS . Update on Park Side Townhomes Proiect - Henry Wehrdt presented a progress report on this project. He commented that a neighbor in this area commented on the quality of this project and said it is already an improvement to the entire neighborhood. Mr. Wehrdt provided samples of the floor coverings and formica to be used. He also advised the Authority that there has been no theft on this project. Mr. Wehrdt mentioned the possibility of providing home care classes for buyers in Park Side similar to those that KB Homes provides for their home buyers. Lenar Homes has offered to pay half the cost of a kit containing cleaning materials, paint, etc. The Authority's share for the kits would be $108. It was moved by Kent Davis and seconded by Kathy Nuanes to authorize Alan White to spend $108 for home buyer cleaning kits. The motion passed unanimously. Larry Nelson reported on marketing plans for Park Side and estimated units should be ready for sale in 4 to 6 weeks. He suggested a selling price of $135,000 for 3-bedroom units and $125,000 for 2-bedroom units. Kent Davis expressed concern that these prices only represent a 1.5% profit margin. If unforeseen problems arise, this would not allow any funds to be put back in the Authority's account for future purchases. He suggested pricing the units to allow for a 5% margin. It was moved by Kent Davis and seconded by Kathy Nuanes to start out pricing the units to allow for a 5% profit margin. The motion passed unanimously. H. OTHER . Dick Matthews reviewed the profit and loss statement for the Authority . Alan White reported that he was contacted by the tenant at the Richards Hart Estate rental unit. She requested that her father be allowed to install a new counter top in the kitchen and the cost be deducted from the monthly rent. Housing Authority Minutes 10-26-05 2 . It was moved by Janice Thompson and seconded by Jerry DiTullio to authorize an expenditure of no more than $200 to reimburse cost of a new kitchen countertop for the tenant at the Richards Hart Estate. Installation ofthe countertop would be subject to approval by the city's building inspector. The motion passed unanimously. I. ADJOURNMENT The meeting was adjourned at 7:50 p.m. /wfh llio, Chair ~. U' . ~' . t/f ''-- Ann Lazzeri, Secretary ,^ Housing Authority Minutes 10-26-05 3