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HomeMy WebLinkAbout04/22/14RUMM"Mm" April 22, 2014 The meeting was called to order at 4:07 p.m. by Chair Thompson in the City Council Chambers of the Municipal Building, 7500 West 291h Avenue, Wheat Ridge, Colorado. Authority Members Present: Thomas Abbott Chad Harr Tracy Langworthy Janice Thompson Jennifer Walter Authority Members Absent: Norg Also Present: Sally Payne, Deputy Director I Larry Nelson, Cornerstone Realty Betty Maybin, Cornerstone Realty Kim Waggoner, Recording Secretary All attendees introduced themselves. # # # # Chair Thompson stated Ann Wang, Treasurer of the Housing Authority toured the property at Otis Street to get an understanding of the rehabilitation process for the properties, Housing Authority Minutes April 22, 2014 No members of the public were present to address the Authority at this time. 1. Audit Engagement Letter Mr. Harr joined the meeting at 4:11 pm. returned to Jefferson County. The fee for the audit will range between $5,000 and $8,000. W 2. 2013 Year End Report Ms. Payne reviewed the report. M. Langworthy asked if the purchaser pays tax on the purchase price or the value of the property after the rehabilitation. Mr. Nelson stated the purchaser would pay tax on the value. I Mr. Nelson stated a construction contract has been signed with Jo-D Enterprises for the Otis Street property. The construction will be done late summer. He anticipates the house will sell quickly. There was discussion about the need of a party wall agreement, the fees involved for attorney services and if there were separate water and sewer lines. Mr. Abbott asked if the county was constrained by federal use for the deadline of May 15. Ms. Payne replied yes and stated the county is not interested in extending the deadline based on federal requirements for expenditure of the funds. Housing Authority Minutes 2 April 22, 2014 There was some discussion about the Housing Authority contributing funds to secure a second home. Ms. Payne stated she would need to have a discussion with the county to see if this would be allowed. There was an inquiry if there were any issues with a higher purchase prices with a lower appraised value, Chair Thompson asked the members if they would be willing to vote on this via email. The members agreed to vote via email. Ms. Payne stated we will need more information about the property and what options are acceptable with the county. Mr. Nelson, and Ms. Maybin departed the meeting at 4:44. The members discussed the memo at length. The primary discussion was based on the leverage proposal and how it relates to the mission of the Housing Authority; as well as the concern that the proposal was for one district within Wheat Ridge. Mr. Abbott stated he weighed the applicability of the leverage proposal to the Authority's mission and said the citizens may question how the Authority's funds originated. Mr. Abbott stated the origination of funds should be considered on how to spend the funds, n 7 increasing ome owners ip r buyers and to low and moderate income buyers. Other resources for maintenance, home improvement loans and down payment assistance were identified and discussed. • cal-Irere aiscusse atD)ou now Itie 7Fuffio can contribute resources and educate citizens on home purchasing, maintenance and neighborhood watches. Chair Thompson stated she feels strongly about the mission statement. Ms. Langworthy stated perhaps the Housing Authority could be a resource for the other programs that do offer the type of benefits proposed if those organizations have a demand for it. She stated she would have a discussion with Mr. Starker. Mr. Harr stated there are homes in every district that need to be revitalized. Perhaps the Authority could purchase a dilapidated home and revitalize it for resale. Housing Authority Minutes 3 April 22, 2014 the Pronosal doest,'t fit t N zi cr Ms. Langworthy left the meeting at 5:25 pm. 3. Fruitdale School Ms. Payne stated the RF1 has been released. The deadline for proposals is Ju 30. Two individuals have toured the school. I Ms. Payne stated Councilman DiTullio is interested in replacing the Anderson Building with Fruitdale. He is requesting a joint session with the Housing Authority and City Council to discuss. Ms. Payne stated Joyce Manwaring, Director of Parks and Recreation, has concerns about the costs and location. Staff suggested waiting until the end of the RF1 period to honor the process before having a session with City Council. Mr. Abbott, Ms. Thompson and Mr. Harr agreed with staff's recommendation, H. OTHER 1. ADJOURNMENT It was moved by Mr. Harr and seconded by Ms. Walters to adjourn the meeting at Motion carried 5-0. Next meeting will be May 27, 2014. a cc ompson, ci�* ' 4r in Kim Waggoner, g Secretary Housing Authority Minutes April 22, 2014 El