City Council Study Session Agenda and Packet 2014 02 11

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COLORADO. SINCE 1878 History and Timeline of the IGA In 2011, the Louisville Housing Authority, Boulder County Housing Authority, and City and County began serious conversations on the increased efficiency of combining the two authorities. In 2012, the four agencies hosted numerous public hearings and study sessions to create the vision and policies of the IGA. The IGA was adopted by all parties in August 2012. Since that time, all of the immediate obligations of the IGA have been met. In 2014, BCHA will be (1) working on the commitment to provide additional affordable housing in Louisville, (2) working closely with LHA to complete their final audit and disband the authority, as well as (3) continuing to operate Louisville portfolio as an affordable housing resource. Status of the IGA Commitments 1. Transfer of properties Property Consenting parties Status Acme 4 party IGA Transfer complete Lilac 4 party IGA, lender Transfer complete Regal Court II 4 party IGA, lender Transfer complete Lydia Morgan 4 party IGA, lender Transfer complete Regal Square 4 party IGA, HUD — Office of Multifamily Hous- ing, lender Transfer complete Hillside Square _ _ 4 party IGA, HUD — Office of Public Housing Transfer complete Sunnyside 4 party IGA, Investor, lender, CHFA Transfer complete In addition to completing the transfers, BCHA has secured the financial stability of these properties going forward by refinancing the portfolio and re- investing in much needed capital improvements. 2. Appointment of Louisville citizen to the Housing and Human Services Advisory Board Ernie Villany is currently serving on the Housing and Human Services Advisory Board for Louisville. Louisville Deputy City Manager Heather Balser and City of Louisville Economic Development Director Aaron Deiong have also attended meetings. "g==LTOEMUM=2=1