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<br />The total utility expenses are under budget, but will increase with water usage in the summer. <br />Maintenance was over budget due to snow removal and salary costs. FEMA is giving <br />reimbursement of $2,500 for snow removal over a 24-hour period in December. <br /> <br />East Street - total tenant charge income includes late fees etc. This has decreased due to increase <br />in ACH registrations (automatic funds transfer from bank) and less move-outs. <br /> <br />5-year capital plan <br /> <br />Add to next month's agenda <br /> <br />Action: <br /> <br />Inclusionarv Zonine:: Update on status on work by LHA board. <br /> <br />Development and Rehabilitation Report <br />There will be more reserves by end of year. Rent increases are not included. Regal Square and <br />Hillside are directly subsidized by HUD. Jim Wilson from LPEC was hired to assist in the rehab <br />of all properties. Lisa will provide resolution next month. 5% annual increase in rent proposal <br />for budget analysis next year <br /> <br />Action: Approve year one then revise each year <br /> <br />Sie:nae:e Update <br />Received proposals for new signs from 20/20 signs. # 1 Priority is Regal Square. Sunnyside and <br />Lydia have no sign and also Regal Ct. The signs are being added or replaced for marketing <br />reasons. The sign company will create and install signs within compliance <br /> <br />Property Manae:ement Report <br />Frank updated the board on current vacancies. <br /> <br />Section 8: ReV Proe:ram Report <br />There are currently 26 LHA vouchers. <br /> <br />Matters from members of the board <br /> <br />Next Agenda: Sheri would like to add to the Agenda: recycling. <br /> <br />Meeting adjourned at 10: 10 a.m. <br /> <br />Next Meeting on April 24, 2007 at Regal Square <br /> <br />3 <br />