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<br />Section 8: HCV Proaram Report: Monthlv statistics <br />The Section 8: HCV Program Report is in the board packet. <br /> <br />Discussion of 520 South Boulder Road Prooertv <br />A discussion was held regarding the property on South Boulder Road. Bonnie Star will take <br />recommendations back to Council. To address council, Bonnie will need to know costs, prices, etc that <br />are proposed for the units. Questions on covenant were raised regarding current initial control, the need <br />for 5% equity share over 20 years and the AMI % restriction issue. In addition, the Board discussed <br />whether the units should be restricted for 20 years or perpetuity? Everyone on the Board agreed on <br />perpetuity and to ask for equity - share. Discussion held regarding price, affordable to 60% AMI? Should <br />set AMI and have it permanently affordable to that price. <br /> <br />This should be permanently affordable housing, where the equity stays with the property. Need to have a <br />get together before meeting with the board. We should be able to follow the template with Habitat. Frank <br />provided information on Jeff Yegian, City of Boulder, who can provide templates on permanent <br />afford ability of units so that the LHA does not need to recreate a program operating in other jurisdictions. <br />Frank will also research Centennial Pavillion Agreements and provide at next month's meeting. Brief <br />discussion of items needed for meeting with Habitat. <br /> <br />Action Items/Matters from Members of the Board <br /> <br />Discussion of Agenda Items for next 2010 LHA board meeting: April 27, 2010 at Regal Square <br />Apartments. <br /> <br />Meeting adjourned at 9:27 am. <br /> <br />**Any member of the Public may speak on any subject not related to the agenda. Anyone wishing <br />to speak will have the opportunity to address the board. Please keep comments to a maximum of <br />5 minutes. <br /> <br />3 <br />