Louisville Housing Authority Agenda and Packet 2011 06 28

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Walt stated that he felt the most important thing was for children to be checking in on the welfare of their parents. Frank asked Ruth to provide him with the names of the tenants for whom she had concerns after the meeting. Director's Report Frank gave an update on different projects that the department is working on. The Josephine Commons Development project in Lafayette has received final plan approval. Groundbreaking for the senior building will occur this summer, and the first phase should be complete during Summer 2012. The date of the Groundbreaking Ceremony is being finalized with the commissioners. The project was in about 4 years of planning and development. The total finished development will provide 153 housing units. Scott asked if Josephine Commons would serve as a case study for other agencies around the country. Frank said that will hopefully be the case, especially in terms of green building. Frank discussed the financial model of the development with Scott and Sheri. We are in the process of contracting out for service dollars through Temporary Human Services Safety Net (1A) funding, focusing on needs in the community we can help to meet. We are trying to look at different services throughout the spectrum, including services for seniors. We are doing our best to make the most of the dollars we were given by getting that money to the people that need it most, and then hoping that it will move through the community and help in the economic downturn. We are also concerned and taking a look at budget cuts that have been made in various housing programs, including block grants, Housing Choice Voucher (Section 8), and Housing Counseling programs. We are trying to come up with ways to creatively make sure that we can support and sustain these programs. We are fortunate to be in a strong position to make our way through this. With our merged department, we are able to utilize diverse funding sources to maximize services provided. Walt asked if the department has been able to get any funds from charitable foundations. Frank responded that we have. We have about $2 million in grants from foundations for programs like FSS, after- school programs, healthcare outreach, and assistance for families in the downturn. The largest amount of funding has been for the Boulder County Healthy Kids initiative. Frank explained that such monies can usually be counted on less for ongoing operations and more for initiatives. Finance Report 2010 Audit Update Representatives from the independent auditor Clifton Gunderson will attend the June meeting and will provide a final report on the 2010 audit. Analysis and Proposal for. East Street Operating Reserve Accounts We have the promissory note finalized for funding of the operating reserves, and it will be sent to US Bank for approval. Vipheatra asked for feedback on the way the financial summaries are being presented in the board packets. The Board agreed that the update with bullet points is a great way to get information since it is much more convenient than reading financial statements. Vipheatra provided updates on budgets at the various properties (info can be found in board packet). There were no questions from the board. HUD Public Housing Disposition Chuck reported that we are in continued engagement with Rod Solomon and Associates for consulting during the process of application for disposition. Rod Solomon has asked that we wait until 2012 to apply since the Federal budget may be more in our favor at that time. Chuck is working on preparing the application, which is quite lengthy and tedious.