Louisville Housing Authority Agenda and Packet 2011 12 13

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There was an update on Habitat for Humanity. It is still in process. Property Management/Maintenance Report a) Rent and Occupancy Update Sally said there are no vacancies. Maintenance did a really good job of making the units look nice after we had so many vacancies. We talked about a 2012 rent increase for the properties. In Louisville, we plan on about a $10 increase across the board. We did not raise rents in 2011. We found out that Social Security is going to have an increase of 3.7% for the first time in 2012. That will help some of our seniors and those living on Soc Security to cover that rent increase. The increase will take effect on April 1St b) Monthly Rental Vacancy Report Rents are "up and down" all over right now. You can find 1 bed rooms in Louisville for up to $800 and some unfinished properties at $700 — 750. It is a landlord's market. We had a HUD REAC (Real Estate Assessment Center) inspection this year at Hillside. We had one 3 years ago and one in June of this year. HUD is setting their baseline in 2012. We will have another inspection in January. c) Discussion of Sunnyside Playground Karen said she went back to one of the original companies to get an idea of what they could do with the price. The new quote is for $15,208. The two options are sand and wood fiber. Sand attracts cats and other animals and it's not ADA certified. The wood fill is ADA certified. As a comparison for the price difference, she will find one more vendor. Walt would like to go back to basics and decide if we really need it, how many children would use it, and where there is a playground nearby that they could go to. He is of the opinion that a simple sandbox would take care of the children that are there. He would like to see us stay in the $5,000 — 8,000 range. Sally said that the kids do like to play in the sand. The climbing and slide facility is good. But there is not much room there to do much more. She would like to see the structure as well as a medium sandbox. There are a minimum of 10 children between 2 — 6 years old. Terry said that if we could keep it simpler with a sandbox and a couple of "diggers" for the thildren that would be enough. She thinks the larger structure could be overwhelming for the small area. Frank said that it would be helpful if the board, next month, makes a decision about what we are authorizing as a cap for the money. We need to finalize that. Whatever we do build needs to be maintainable and sustainable. We need to consider all ongoing maintenance issues and expenses. Finance Report Marc Devries and Mark Elmshauser, Clifton Gunderson, LLP. presented the Louisville Housing Authority financial documents. He began with the Clifton Gunderson letter to the Board. The communications letter is required, as an auditing board, to go over the key items. Mark read from the letter regarding general auditing standards defined by the American Institute of CPAs and the Federal auditing standards. He emphasized that we are expressing an opinion and emphasize that it does not relieve you as a governing board of your responsibility.