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<br /> <br /> <br />Louisville Housing Authority <br />Status of the IGA Commitments <br /> 1. Transfer of properties <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />2. Appointment of Louisville citizen to the Housing and Human Services Advisory Board <br /> <br />Kelly Campbell was appointed as primary and Ernie Villany as alternate to the Housing and Human Services <br />Advisory Board. Both have attended meetings of the Board, as have Louisville Deputy City Manager Heather <br />Balser and City of Louisville Economic Development Director Aaron DeJong. <br />3. Provision of additional 15 units of affordable housing in five years <br /> <br />Boulder County has purchased 12.86 acres in Louisville located at 245 96th Street and known as the Alkonis <br />property. The transaction closed March 22, 2013. Boulder County has done preliminary studies to determine <br />that the site is highly suitable for affordable housing. Boulder County and BCHA staff will be engaged in the <br />small area planning process lead by the City in 2013, and hope to have permit-ready development by 2015. <br />Current property operations – reporting on the 146 units managed by BCHA and owned by BCHA or LHA or <br />LIHTC partnership (see attached map) <br />Vacancy rate – 3% <br />LHA - Net operating income - $157,728 before depreciation – $55,494 after depreciation <br />East Street - Net operating income - $16,369 before depreciation – ($109,826) after depreciation <br />LHA - Debt service coverage ratio – 3.14 <br />East Street - Debt service coverage ratio – 1.2 <br /> <br /> <br />Property Anticipated <br />Transfer Date <br />Consenting parties Consents ob- <br />tained? <br />Status <br />Acme Done 4 party IGA Yes Transfer complete <br />Lilac Done 4 party IGA, lender Yes Transfer complete <br />Regal Court II Done 4 party IGA, lender Yes Transfer complete <br />Lydia Morgan Done 4 party IGA, lender Yes Transfer complete <br />Regal Square Done 4 party IGA, HUD – <br />office of multifamily <br />Yes Transfer complete <br />Hillside Square Later in 2013 4 party IGA, HUD – <br />office of public hous- <br />ing <br />In process We are working on <br />the application to <br />HUD and hope to <br />Sunnyside March 2013 4 party IGA, Investor, <br />Lender, <br />In process Consent obtained <br />from investor; lender <br />is in credit approval <br />15