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<br />anything else. At 2014 there is a balloon payment. Ifwe don't touch the money, it makes sense <br />to leave it there to collect interest. Staff will re-visit the analysis again next year. <br /> <br />Finance Report: Lisa Ban!!:s <br /> <br />Pat Liddell went over audits. On pages i-vi is the Management Discussion and Analysis. Staff <br />strongly recommends that the board review this part of the audit. It provides a summary of the <br />LHA financial condition and the significant activity that occurred in the prior year. Staff <br />completed a prior period adjustment for East St, Lilac, Lydia Morgan. Pg 10 offinancials: <br />name is the same, although named 3 different things. LHA tenant file audits were conducted for <br />the first time by the auditors, with no findings or questioned costs associated with the property <br />file compliance. Will continue to do the file audits to make sure LHA is in compliance with <br />regulations. <br /> <br />Lisa presented Resolution 2007-03: A resolution for the purpose of approving the <br />modification agreement regarding the Lilac Place loan with Wells Fargo. <br /> <br />Motion to approve by Terri Abbott, seconded by Callan Childs. Unanimously approved and <br />carried. <br /> <br />Inclusionarv ZOOiD!!: <br /> <br />Paul Wood presented information on IZ (last planning meeting). Planning staff was granted a <br />continuance to go back to Planning Commission on March 8. Paul recommended to the LHA <br />Board that they should provide City Council a summary of all work that has been done on this. <br />Let Council know the costs projected to administer this program. Forward position ofHA to <br />commission on March 8th. <br /> <br />Question: Do we keep pushing to get IZ? <br /> <br />Callan met with Cindy Brown about her experience with working on Affordable Housing and <br />Inclusionary Zoning. RRC Associates do objective studies on Housing Needs assessments. <br />Chris Cares is a contact with them to gather info on what has been done across the state. <br /> <br />Boulder: Mandatory 20% with no incentives to developers; would like to see pilot programs that <br />provides additional equity to the homeowner. <br /> <br />Provide developers with other incentives other than density. <br />Restrict sizing and allow building of smaller units in a development (in Boulder, size does not <br />matter, location does - as far as affordability) <br />Home Consortium-grants are available to apply for <br /> <br />In a review of the current MLS, the following information was discovered: <br />Under 200K-18 units available (in stock in Louisville)/O SF homes <br />Under 300K-MF 14 units available <br />