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HomeMy WebLinkAbout08/28/2002 CITY OF WHEAT RIDGE HOUSING AUTHORITY Minutes of Meeting August 28, 2002 ORIGINAL A. CALL THE MEETING TO ORDER The meeting was called to order by Chair DiTullio at 7:00 p.m., August 28, 2002, in the Second Floor Conference Room of the Municipal Building, 7500 West 29th Avenue, Wheat Ridge, Colorado. B. ROLL CALL Authority Members Present: Cheryl Brungardt Mary Jo Cavarra Kent Davis Jerry DiTullio Authority Members Absent: Kathryn Fulton Others Present: Alan White, Planning Director Larry Nelson, Cornerstone Realty Betty Maybin, Cornerstone Realty Jim Bills, Vectra Bank Alan Feinstein, Jefferson County Housing Authority Dave Firman, Housing Authority Attorney Ann Lazzeri, Recording Secretary c. APPROVAL OF MINUTES It was moved by Cheryl Brungardt and seconded by Kent Davis to approve the minutes of July 24, 2002. The motion passed unanimously. D. OFFICERS REPORTS There were no officer reports. E. PUBLIC FORUM There were none present to address the Authority. F. UNFINISHED BUSINESS There was no unfinished business to come before the Authority. G. NEW BUSINESS 1. Discussion of Housine: Authoritv takine: over manae:ement of Richards-Hart Estate duplex City Council approved the Housing Authority taking over management of the duplex on the Richards-Hart Estate. The duplex was previously managed by the Parks and Housing Authority August 28, 2002 Page 1 Recreation Department. Rent received from the duplex will provide approximately $9,000 a year income to the Authority. This change will take place on September 1, 2002 and will not affect the current tenants. Some minor repairs will probably be necessary in the future. It was suggested that students from Warren Tech could do some of the remodeling/repair work. Alan Feinsteinwill also look into the possibility of using CDBG funds for repairs. 2. Manae:ement of Ouail Square Larry Nelson reported that he has contacted numerous property management companies. He did not find much interest from the companies to manage such a small project. There is one company that indicated they would consider the project if no one else could be found. He also read a letter from Marcy Emily who is interested in managing the property for 10% of monthly income from HOA dues. She is a Wheat Ridge resident and has had experience in managing smaller properties. Larry Nelson reported that four units are presently under contract and close to being finalized. They have been averaging one showing per day with several on the weekends. Neighbors have expressed appreciation to the Housing Authority because they believe the improvements to this property have increased their property values. It was moved by Mary Jo Cavarra and seconded by Cheryl Brungardt that the Housing Authority seriously consider Marcy Emily as the property manager for Quail Square. The motiou passed 4-0. 3. Insurance Matters for Ouail Square Larry Nelson reported that it is difficult to find an insurance company willing to insure a property as small and old as Quail Square. Once the first closing has taken place, the City's insurance (CIRSA) will no longer insure the project and the Housing Authority must have its own insurance. The best bid so far was received from Continental Western in the amount of$6,377. This company would be willing to accept a 25% down payment with monthly payments to follow over the next nine months. It was moved by Kent Davis and seconded by Mary Jo Cavarra that the Housing Authority go with Continental Western Insurance pending a better offer before the first closing. The motion passed 4-0. G. OTHER . There was discussion about different methods of marketing the units. It was moved by Cheryl Brungardt and seconded by Kent Davis that information about Quail Square be included with the next City of Wheat Ridge payroll. The motion passed 4-0. Other suggestions for places where information could be disseminated included the Wheat Ridge branch of Vectra Bank and Lutheran Hospital. Housing Authority August 28, 2002 Page 2 . Jerry DiTullio reported that, upon the sale of the first five units, the bank debt would be satisfied. . Alan Feinstein reported that the Secretary of Housing and Urban Development would be in town tomorrow. The present administration is pushing for home ownership and the Quail Square project is being considered as a site for a publicity effort which will take place in October. . Jerry DiTullio reminded everyone of the open house for Quail Square and the streetscape project to be held on September 6. . Dave Firman reported that the condominium map is complete. H. ADJOURNMENT ./ ~ /J , . ~ . ~t [7'i ..61.A..- Ann Lazzeri, Secre~ Housing Authority August 28, 2002 Page 3