Louisville Housing Authority Agenda and Packet 2009 12 08

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Terri motions to approve the Resolution 2009-05 and Steve seconds the motion. Approval of Resolution 2009-05 passed unanimously. Finance Report: Review of September 2009 financial statements Board would like to be notified of any anomalies. This month there were no anomalies. Property Management/Maintenance Report: Rent and Occupancy Update and Monthly Rental Vacancy Report There has been a very low turnover this year. There is currently one vacancy that is being filled this week and one 2BR available at Regal Court. Section 8: HCV Program Report Monthly statistics The Section 8: HCV Program Report Monthly statistics are included in the board packet. Review and Finalize Article regarding need for Senior Housing in Louisville Selena revised the article and will place in the Louisville newspaper next week which comes out on Wednesday. Open Government Training this fall- 2 options to attend: . Wednesday, November 4, 6:30 PM, Council Chambers - Steve will attend . Friday, November 6,8:30 AM, Council Chambers Habitat for Humanity Presentation LHA has been talking with Habitat for a year about the South Boulder Rd property. Steve and Rob met with John a few weeks ago regarding 520 S Boulder Rd. John presented on the Flatirons Habitat of Humanity. Habitat was founded in 1993, one of 31 affiliates in CO and 1,700 in US. Habitat built first home in Lafayette in 1994 and just completed 50th home. They will complete 4 more this year in Boulder. Currently they' are building 2 - 4 plexes at Northfield Village which will be completed in May 2010. Cost of 4 units is $781,000 is just the hard costs of the building. The Lafayette project, Coal Creek Village, has been on hold for 2 years due to economic downturn. They are looking to break ground between Feb-Dec 2010. The approximate cost per building is $500,000. One church committed paying $150,000. Each building will have 3 townhomes that are 1100-1200 sq ft. and are 3 bedrooms, 1.75 bathrooms. The HOA is calculated by bedroom size and not if the unit is permanently affordable. Habitat is about homeownership; they help build and finance home and then they are no longer involved. Habitat will raise $1.6 million including land costs to build this complex. Louisville project at 520 S Boulder Road. Habitat would plan to build 2 buildings on site. They would use the CU Architecture program students to design buildings. Habitat would want to know the Louisville housing needs. Land issues would be resolved with CU engineering department. CU Boulder Habitat chapter would also playa lead role. They would add a part-time site manager to Habitat staff for this project. They project a September 2011 building project start date. The original plan was between 4 and 6 units. Once the unit is complete, the owner will have a habitat mortgage loan with 0% interest which allows Habitat to build in the future. They have had zero foreclosures in their service area even though the nationwide foreclosure rate is 1 %. Each Habitat affiliate is its own separate 501@(3). Deed states the unit is permanently affordable capped at 60% AMI that the city administers. Homeowners buy their homes with a no-interest, no-profit loan from Habitat. Habitat collects monthly payments from homeowners and uses that money to help build new homes. In order to be eligible to apply for Habitat home, you must be able to pay for the home.