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<br />HUD has approved vouchers. The retro applied it, effective 10-1-07. Will bring combined <br />report. Change in budget for 2008. Anticipate audit fee to reduce in 2008. <br /> <br />Finance Report <br />. Review of September 2007 financial statements <br />Lisa reviewed September financial update as reported in the Board packet. Administrative <br />expenses and Maintenance salary and materials were both increased in 2008 budget. <br />Building sign at Regal Court was the only non-routine expense. Roof at Regal Ct and <br />HilIside are the two significant rehabs in process. Lisa did negotiate lower bank wire transfer <br />fees. At Sunnyside the occupancy rate is high and it is in a good position, stabilized <br />occupancy. Made some major improvements. <br /> <br />November 8-9 Auditors doing preliminary audit, final audit during last week of Jan, By Feb <br />we will have a draft audit <br /> <br />. September Payment Detail Report <br />Reported in board packet. <br /> <br />. Review of 2008 Draft Budgets and Proposed Management Fees <br />Budgets are set at current rent structure. All of properties cash flow with new management <br />fee agreements. <br /> <br />Management agreements went through legal review from county attorney and have <br />signatures from both him and Rod Felzien. <br /> <br />. Resolution 2007-13: A Resolution Approving the Management Agreements <br />Between the Boulder County Housing Authority and the Housing Authority of the <br />City of Louisville <br /> <br />Terri motions to approve. Doris seconds. Resolution passes unanimously. <br /> <br />. Resolution 2007-14: A Resolution Approving 2008 Operating B <br />Louisville Housing Authority, East Street LLP and Lincoln St et <br /> <br /> <br />Terri motions to approve. Callan seconds. Resolution passes unan' <br /> <br />Maintenance/Rehab/Development Update: <br />. Sunnyside Parking improvements <br />Improvements including r . andmtri i m <br />for towing signs, w ~, ed By ~ ember 'te visually looks <br />better...... Once _. I!1s,are insta\ p~ ,:i,n b fW~ e', pense. Fr~nk met with <br />Tom raure to ge rkmg spots '~SVll1e' l.v: ~nerslllp of east SIde of street. <br />We eould reques t piece of t 1 be ma 0 parking. Heather suggests writing a <br />letter to city cou <br /> <br />. Sunnyside P Wi s Proposed Solutions <br />Proposal for repl of 28 windows is about $16,000. Lisa needs to find funding [or <br />windows, No ey in reserves to pay for windows, Administration fund has enough <br />money to pay for replacement windows. Quote is fairly standard including installation. <br />Sheri: Heather Balser stated there is $35k left for in a city fund and that may be used for <br /> <br /> <br />3 <br />