Loading...
HomeMy WebLinkAbout08-14-18A. Ajo"%hhh.� NM11A Wheat Ridge Housing Authority Minutes of Special Meeting August 14, 2018 CALL THE MEETING TO ORDER The meeting was called to order at 4:03 p.m. by Chair Thompson in the Second Floor Conference Room of the Municipal Building, 7500 West 29th Avenue, Wheat Ridge, Colorado. ROLL CALL OF MEMBERS Authority Members Present: Authority Members Absent: Also Present: C. APPROVAL OF MINUTES: 1. February 27, 2018 La Thomas Abbott Tim Fitzgerald Chad Harr Janice Thompson None Lauren Mikulak, Staff Liaison Tammy Odean, Recording Secretary It was moved by Mr. Fitzgerald and seconded by Mr. Abbott to approve the minutes of November 24, 2018 as written. Motion approved 4-0. OFFICERS REPORTS E. PUBLIC FORUM There was nobody present from the public to speak. Housing Authority Minutes August 14, 2018 F. NEW BUSINESS Potential Partnership with Wazee Partners, LLC Ms. Mikulak introduced Tyler Downs with Wazee Partners and explained there is a state statute that says if the Housing Authority is a part of an ownership interest, then it can offset the property taxes on affordable housing projects. She said this would be similar to the WRHA's partnership with Fruitdale Lofts. Tyler Downs, Wazee Partners Mr. Downs introduced attorney Chris Gunlikson with Holland and Hart and gave a brief background regarding Phase I of Wheat Ridge Town Center Apartments at 44th Avenue and Upham Street which was built in 2012. He stressed that the apartments are income -restricted for residents 62 and older. Most of the residents don't want to maintain a home anymore so these apartments are for rent. Mr. Downs added there are multiple activities and events for the residents and they also partner with the Senior Resource Center for transportation two time per week. He explained that every two years he receives very high property tax bill because he is not a non-profit or part of a housing authority; it is hard to get a fair valuation because the apartments are income restricted. He feels the money he pays every two years could be better spent elsewhere and if he were to partner with the Wheat Ridge he would not have to go through this an appeal process with the Assessor every two years. Mr. Fitzgerald ask how much he pays in property taxes. Mr. Downs said about $60,000 annually. Mr. Fitzgerald asked if a preference is given to residents in the Wheat Ridge area, but Mr. Downs explained that they could not because of fair housing laws. Ms. Thompson asked if there is any liability to WRHA or the City if there is default on the loan. Chris Gunlikson, Holland and Hart Mr. Gunlikson explained that in the partnership agreement the WRHA will be a special member and there is no obligation to contribute any capital except for a minimum of $10. He also explained there are also deed restrictions if the property is sold. Ms. Thompson asked what would happen to the agreement if the WRHA disbanded. Housing Authority Minutes 2 August 14, 2018 Ms. Mikulak explained there are other entities that could fill the position such as Jefferson County Housing Authority (JCHA). Mr. Fitzgerald wanted confirmation that there is no risk to the WRHA. Mr. Downs and Ms. Mikulak confirmed this. Mr. Abbott asked how the numbers are figured out for the annual fee. Ms. Mikulak explained she has spoken with JCHA and they said the range is usually 0% to 20-30% of tax savings. Mr. Abbott suggested that the annual fee be adjustable instead of fixed, and proposed that it fluctuate with consumer price index or other indicator. Ms. Thompson supported this idea adding that she wants to be able to comfortably justify WRHA partnering with Wazee Partners. Mr. Harr asked if there are plans for another building. Mr. Downs said yes, but there are a few issues that need to be solved such as concentration. He explained the 3rd lot might be market rate, but still age restricted. Ms. Mikulak added that this is an innovative partnership opportunity for the WRHA. It was moved by Mr. Abbott and seconded by Mr. Harr to approve the Wheat Ridge Housing Authority as a Special Limited Partner in the ownership entity of Wheat Ridge Town Center and Town Center North Apartments, and to direct staff to present a proposed agreement at a future Wheat Ridge Housing Authority meeting. Motion passed 4-0. G. OLD BUSINESS Ms. Mikulak gave an update on Fruitdale lofts and mentioned HEI, Inc had won another award for reinvestment. There was also some discussion about any affordable housing opportunities at Clear Creek Crossing and the Ward Road Station. Ms. Mikulak mentioned she does not think the developers at Clear Creek Crossing will be including any affordable housing. Housing Authority Minutes 3 August 14, 2018 Mr. Abbott said he had read an article about accessory dwelling units (ADU's) making a comeback and thinks maybe they can create some affordable housing in the Wheat Ridge area. Ms. Mikulak gave a brief history of ADU discussions in the City and said staff is waiting for direction from City Council because ADU's are currently not allowed in the City of Wheat Ridge. H. OTHER I. ADJOURNMENT It was moved by Mr. Fitzgerald and seconded by Mr. Harr to adjourn the meeting at 5:21 p.m. Motion carried 4-0. Janice Thompson, hair Tammy O , Recording Secretary Housing Authority Minutes 4 August 14, 2018