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Steve asked for clarification on the value of waiting given problems in Washington with preparing budgets. Chuck said <br />that cuts in Housing Choice Vouchers greatly reduce our ability to issue Tenant Protection Vouchers. Frank stated that <br />we really need to be sure that we can see the whole process through from a financial standpoint. <br />Sheri asked for clarification of the acquisition process. Chuck clarified that if 13 public housing units are disposed HUD <br />will want to see a plan for a provision of 13 units for public housing and HUD has recently changed the process to <br />associate subsidies with the units rather than letting them simply be converted to affordable units. What we end up with <br />is a combination of affordables and public housing subsidies. For this reason, waiting until 2012 could really be <br />beneficial to us. Frank explained that things are shifting too quickly these days in Washington, and that when there is <br />more stability we will be able to give better advice to the Board. <br />The Board asked for a bullet point summary of the entire disposition process as it stands now. Frank and Chuck said <br />that they will provide such a summary. BCHA is currently navigating these changes and Frank stated that we will learn <br />more about the current process and advise the LHA Board accordingly. <br />Steve stated that he talked to Rob and Steve Anderson about a Broker's Price Opinion. Rob is not available at this time. <br />Steve Anderson was not able to provide an estimate for the service at this time Steve Underhill asked the board if they <br />would be comfortable with him taking on this task at this time. Sheri said that we will need to do a full appraisal <br />anyway eventually. Frank said that it should work at this time as a mark in the sand rather than anything official. The <br />board agreed that it would serve well to have a starting point for a value of the property. <br />Hillside Inspection Summary <br />The annual HUD inspection at Hillside was on 5/18. We received a score of 99A. Chuck acknowledged maintenance <br />staff and property management staff in our achievement of this score. The benefit of this is that Hillside will not be <br />inspected again until two years from now. <br />Frank praised Chuck for his work on these inspections. <br />Sally reminded the Board of the tour after the meeting. <br />Portfolio Analysis Update <br />Some members of the Board remarked that they had not received the Portfolio Analysis prepared for BCHA via email. <br />Chuck and Admin Staff will look into that and resend the information. <br />Property Management/Maintenance Report <br />Rent and Occupancy Update <br />Sheri asked about progress of renting vacant unit at Sunnyside. Sally said that we have interest but are having a tough <br />time finding a qualified renter. <br />Frank inquired about the described poor condition of vacated units. Karen stated that the process to clean out these units <br />involves a good deal of time, personnel, and materials. Karen said that it really amounts to unit rehab. Sally also <br />explained that in each case the tenants had been there a long time. <br />Monthly Rental Vacancy Report <br />Karen said that work on replacement flooring at Lydia Morgan will begin tomorrow. <br />Matters from Members of the Board <br />None. <br />