Louisville Housing Authority Minutes 2009 06 30

Home Browse Search

Frank suggested considering doing a white paper for LHA to submit recommendations to the Council. It should include land negotiations, needs for senior housing, redevelopment area, policies, deal points to negotiate. Need to be able to move on something when the opportunity arises. Map out what it is going to look like over the next 3 or 4 months. Set our goals and conclusions. Focus on senior housing, getting the pieces in place. Consider shifting some of the land dedicated for parks and open spaces to senior housing. Discussion was held on redevelopment of Regal Square with perhaps 30 new units and maybe up to 50 units. Assessments have been done on it. It is a matter of financing. We will be st submitting a tax credit application August 1 for the Lafayette property. If credits are available st and sold at right price, we could be able to break ground possibly in 1 quarter of 2010. With the Regal development, relocation issues are big and needs to be thought through. Lafayette development well under way, could be a resource for relocation. We still have land the city gave us (South Boulder Road). Need to find out costs by end of month. We are waiting to see if we can feasibly build on it or maybe give it to Habitat. Renting it at market rate vs. affordable; can we do a market rate project then take profits for the Regal area where we could do both affordable and market rate. Should we sell the land at market rate? Steve wants to meet with Frank regarding things such as building ourselves, selling, working with Habitat. Like to meet with Frank maybe 3 weeks when we can have a plus or minus 10% how much it would cost with Franks construction methodology. Next meeting have agenda item which way to go. Terri, Selena, and Steve will work on article. Can do a study or work session. Selena interview possible residents/clients and get some info and maybe some photos. Callan send out email regarding it. Can do feedback by email. Have a draft of the article for the August meeting. Frank will send the link to the last means assessment in 2005. An update will be done by the fall. Callan can send information to Frank regarding what is happening with the article, and he will send to the whole board. A suggestion was put forward to include something about the Avalon project. Steve enter motion at next meeting come to final determination what we want to do with that site. In preparation for that, 1) Frank’s construction numbers, 2) what we might be able to sell it for at market rate, 3) what kind of cash flow to get on rent. Steve will get some ballpark numbers on that. For final number, need accurate numbers for piece of land, GS bid for utility connection, drainage, mitigation, foundation, construction. We have numbers for foundation, box construction, but you still have site planning and site work for that piece of land. Callan seconded the motion All in favor unanimous.