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- Net impact to fixed assets was $239,000 and decrease in cash was $84,000 <br />- In addition notes and mortgages payable to Regal Square were transferred to BCHA <br /> <br /> <br />The Auditors did their total work in March and the partner reviews in April. As of this point, we have no <br />significant or material issues. With the final audit for 2013, and after all the transfers happen, with the <br />City’s discretion, LHA will no longer exist. Final action of the board will be to approve the audit and <br />make final recommendation to the board to dissolve the Louisville Housing Authority. <br /> <br />There is only $10 in the Louisville Housing Corporation. We will need to dissolve that. <br /> <br />Property Management update <br />a) Rent and occupancy update <br /> - LHA properties are 100% occupied <br /> - BCHA properties are at 98% occupied <br /> <br />b) Section 8 statistics <br /> - The Section 8 program has been most impacted by sequestration <br /> - We are not leasing any vouchers at the moment <br /> - Tenants currently living in Louisville in the Section 8 program will remain <br /> - We won’t be able to move anyone from the wait list into an actual voucher <br /> - Our list was last open in 2008 and will not open again soon <br /> - $678,000 cuts in the Housing systems payments and the Section 8 <br /> administrative fee for BCHA <br /> - 31% of the Administrative budget has been cut <br /> - 6% cut in the Housing System payment side, equating to 50 households <br /> - Sequestration is a big unknown for us as a department this year <br /> - Bigger service reductions will happen in the big programs if this is long term <br /> <br />Jay asked about the Alkonis property and the redevelopment of Regal Square. He suggests <br />relocating the residents from Regal Court into the Alkonis site. <br /> <br />Frank said that the projection for Alkonis is that it will include a senior facility. If the timing <br />went well, we could look at using that for the seniors of Regal Court. For the 30 units at Regal <br />Square the issue on the table for the last 10 years has been depopulating and fully deconstructing <br />and building an entire new building there. <br /> <br />Jay mentioned the opportunity to renew zoning at the small area plan process. <br /> <br />Matters from Members of the Board <br />Kelly said that she has thoroughly enjoyed her time on the LHA Board. She is amazed at all the <br />different needs we address and all that we have brought to the table. A family moved from <br />Texas and made an offer on her home. She is staying in Boulder County, building a home in <br />Lyons, and will no longer be a resident of Louisville. She will continue to be involved, but no <br />longer as the liaison. <br />Ernie is the alternate. We will need to contact him soon. Frank suggests that she keep coming <br />until we make some decisions. <br /> <br />Walt has been approached by two Lafayette residents who suggested we do better architecturally <br />when we design the new building for Louisville than an appearance standpoint than Josephine <br />Commons. They were not happy with the landscaping around the building. They do not live <br />there. <br /> <br />9