HomeMy WebLinkAbout03/24/2009WHEAT RIDGE HOUSING AUTHORITY
MINUTES
March 24, 2009
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CALL MEETING TO ORDER
The meeting was called to order by Chair Brungardt at 4:00 p.m. in the Citv
Council Chambers of the Wheat Ridge Municipal Building, 7500 West 29`6
Avenue, Wheat Ridge, Colorado.
ROLL CALL
Katie Vanderveen was introduced as a new member of the Housing Authority.
Authority members present: Cheryl Brungardt
Kathy Nuanes
Lena Rotola
Janice Thompson (arrived at 4:13 p.m.)
Katie Vanderveen
Others present: Sally Payne, Deputy Director
Larry Nelson, Cornerstone Realty
Betty Maybin, Cornerstone Realty
Dick Matthews, Accountant
Wendy Swanhorst, Swanhorst & Company
Christa Jones, Deputy City Clerk
APPROVAL OF MINUTES: January 27, 2009
It was moved by Kathy Nuanes and seconded by Lena Rotola to approve the
minutes of February 24, 2009 as presented. The motion passed 3-0 with
Katie Vanderveen abstaining.
OFFICER REPORTS
There were no officer reports.
PUBLIC FORUM
There was no one present to address the Authority.
NEW BUSINESS
A. Presentation and Acceptance of Audit
Housing Authority Minutes - 1 March 24, 2009
Wendy Swanhorst reviewed results of the audit of Housing Authority financial
statements.
Kathy Nuanes suggested a clarification in the first paragraph on page 7 of the
Notes to Financial Statements: when the Authority originally purchased the unit
on Allison Court, it was a triplex, but is now being sold as a duplex. Ms.
Swanhorst stated that she would make that change in the document.
Dick Matthews thanked Larry Nelson for his prompt attention to market values
which was very helpful in preparing the audit.
Larry Nelson reported that after the price reduction, the three remaining units are
now under contract.
It was moved by Kathy Nuanes and seconded by Lena Rotola to accept the
audit with the following changes: Corrections be made on page 7, first
paragraph of the Notes to Financial Statements changing "triplex" to
"duplex"; and a note added the that the three remaining units are under
contract. The motion passed 5-0.
Wendy Swanhorst stated that the values of the three properties would be revised
when the exact price is known.
B. Status of Current Properties
Larry Nelson reported that there is one unresolved issue on the Allison
property that relates to the original contract between the Housing
Authority and Jefferson County. An award of $56,250 was granted for
the duplex unit. One of the grant conditions was that there had to be
an affordability period for purchase at or below 80% of the median
income and the property had to remain affordable to another
comparable buyer for a ten-year period. He learned in the last day or
two that the County is now requiring an affordability period of 15
years. These units were marketed and sold with the 10-year
affordability period, so Cornerstone Realty has appealed to leave the
10-year period contained in the original contract. He expected to have
an answer from the County in the next day or so.
• Sally Payne reported that she met with Brothers Redevelopment and is
working on a Memorandum of Agreement for the Authority's review
next month.
UNFINISHED BUSINESS
There was discussion about possible methods of providing maintenance on the
West 415` Avenue property during the summer months.
Housing Authority Minutes -2- March 24, 2009
8. OTHER
There was no other business to come before the Authority.
9. ADJOURNMENT
The meeting was adjourned at 4:40 p.m. The next meeting is scheduled for April
28, 2009.
Cheryl B gardt, Chair
Ann Lazzeri, Secretary
Housing Authority Minutes -3 - March 24, 2009