City Council Study Session Summary 2012 04 24

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City Council Study Session Summary April 24, 2012 Page 3 of 7 Steve Clark of SB Clark and Associates gave a summary of his background and a brief explanation of the analysis that was conducted for the LHA. Discussion on the portfolio analysis followed with additional comments /questions below: • If the LHA consolidated with BCHA, how would Louisville have representation? (Currently, LHA has 5 members with one alternate). • Steve Clark commented that the portfolio analysis and the financial imperative have brought us here. • Is there a federal mandate that would require a certain amount of housing for the size of our community? There is no mandate that requires this. • If the Louisville properties have a 90% occupancy rate and a waiting list, how do we meet the demand? • What are the benefits and what are the losses if we consolidate? Want to see that at the May 15th Council Meeting. • Does LHA have a legal responsibility? • Are the properties sustainable? • The goal of the LHA is to provide the lowest rents possible. • Boulder County has a short term contract with LHA. If Boulder County pulled out, the LHA, by itself, could not handle the Authority functions. • Even if the LHA consolidated with Boulder County, the land use control still rests with the City of Louisville. • No property tax is paid on housing authority property. • $4M equity in the 116 units (not including debt) • It makes sense for Boulder County to own and take care of Louisville properties as long as there is an IGA. • If we consolidate, LHA dissolves and City Council becomes the enforcer of the IGA. • There is approximately $2.2M in deferred maintenance. The LHA needs to pay $140,000 for current maintenance. • Concerned about Boulder County taking over and selling a property and people needing to be relocated and how would that be handled? • The Louisville portfolio is 116 units. There is a 4 -plex property in this total number that might be considered as a potential sale. • Regal Square has subsidence issues and there is a potential there for redevelopment at this location. Update /Discussion — US36 & McCaslin Boulevard Interchange David Thompson, Senior Civil Engineer with the Public Works Department presented the staff recommendation for the design which is the Divergent Diamond Interchange (DDI). Originally, a double left onto west bound US 36 was planned per the FEIS for US -36; however, the Town of Superior did not favor this design even though it met the CDOT Level of Service and would have supported the traffic volume at