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CITY OF WHEAT RIDGE HOUSING AUTHORITY
Minutes of Meeting
May 9, 2001
1. CALL THE MEETING TO ORDER
Chair DiTullio called the meeting to order at 7:00 p.m., May 9, 2001, in the City Council
Chambers of the Municipal Building, 7500 West 29th Avenue, Wheat Ridge, Colorado.
2.
ROLL CALL
Authority Members Present:
Jerry DiTullio
Cheryl Brungardt
Mary Cavarra
Kathryn Fulton
Kent Davis
Others Present:
Ralph Mancinelli, City Council
Alan Feinstein, Executive Director, JCHA
3. MINUTES
The minutes will be considered at the next regular Housing Authority meeting.
4. OFFICERS REPORTS
There were no officers' reports.
5. PUBLIC FORUM
There were none present to address the Authority.
6. UNFINISHED BUSINESS
There was no unfinished business.
7. NEW BUSINESS
A. 2001 Wheat Ride:e Housine: Authority Bude:et - Review and approval ofthe 2001
Budget for recommendation to City Council.
There was discussion ofthe proposed 2001 budget for the Housing Authority. It was moved
by Kent Davis and seconded by Mary Cavarra to adopt the 2001 budget of $500,000 for
the Wheat Ridge Housing Authority and forward to City Council for approval on
Monday, May 14,2001. The motion passed 5-0.
Wheat Ridge Housing Authority
May 9, 2001
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B. Prouertv Purcbase - Review and discussion of potential property available for
purchase.
Alan Feinstein reviewed a proposed property located at 3839 Reed Street. The property has
one house and six duplexes that could be converted into three single-family homes. The asking
price is $650,000 and there would be estimated rehabilitation costs of$70,000.
Concern was expressed that the first project should be smaller in scope. Also, there is a need
for more information.
It was moved by Cheryl Brungardt and seconded by Mary Cavarra that Alan Feinstein
contact Coruerstone Realty to research comparables on the 3839 Reed Street property
. and also look at approximate costs to convert the six duplex units into single family
homes. The motion passed 5-0.
Alan then reviewed a 7-plex property located at 48th and Harlan with an asking price of
$690,000.
It was moved by Mary Cavarra and seconded by Kent Davis that Alan Feinstein contact
Cornerstone Realty to research comparables on the property located at 48th and Harlan
and look into an estimate of rehabilitation costs. The motion passed 5-0.
Mr. Feinstein will have information on both properties at the next regularly scheduled Housing
Authority meeting.
8. OTHER
Colorado Housine: Assistance Comoration (CHAO - Mr. Feinstein reported on his meeting
with CHACo This organization qualifies potential first time homebuyers. They also provide
counseling on home ownership, down-payment assistance, etc. Michelle Mitchell from CHAC
will attend the next Housing Authority to further explain the program.
CHAC also offers dollar-for-dollar matching funds to those provided by Wheat Ridge. Mr.
Feinstein will complete an application asking for matching funds if the proposed $500,000
budget is approved by City Council. Matching funds could be available in June or July.
Volunteer Assistance - Cheryl Brungardt suggested that volunteers from Regis University and
local high schools could be utilized in the rehabilitation process for painting, yard clean up, etc.
Lines of Credit - It was moved by Kent Davis and seconded by Kathryn Fulton that a
bank representative be invited to the June meeting to present information regarding lines
of credit. The motion passed 5-0.
Wheat Ridge Housing Authority
May 9, 2001
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Wheat Ride:e Housine: Authority Brochure - Mr. Feinstein submitted copies of a draft
brochure to Authority members. He would like to receive comments from members as soon as
possible in order to finalize the brochure.
ADJOURNMENT - It was moved by Kent Davis and seconded by Mary Cavarra to adjourn the
meeting at 8:00 p.m.
Jerry DiTullio, Chair
Ann Lazzeri, Recording Secretary
Wheat Ridge Housing Authority
May 9, 2001
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