Louisville Housing Authority Agenda and Packet 2010 09 28

Home Browse Search

arrangement during the last management fee negotiation. The costs associated with the Senior Services Coordinator were allocated in the administrative expense line during the last management fee discussion. This was in effect, charging Kristin's salary to all properties not just senior housing. Scott questioned what would be the consequences of eliminating Kristin's position and Lisa responded that we would not offer any senior services. Frank asked all present about wanting more clarity of certain items that we should discuss today and be able to supply. Frank explained the methodology used to develop the allocation and that all costs are distributed pursuant to the HUD approved cost allocation plan based upon the accurate fiscal data provided by Finance staff and audited annually by outside auditors. Sherri agreed that they are factual. Steve states that he would like to see the agreement. Steve asked Scott if this should be taken to vote. Scott wants to make sense of it, not necessarily take it to vote. Callan officially sent in resignation of the board, so there will be recruiting for her seat. East St. Operating Reserve On Page 31 of the packet is a summary of the current operating reserve because U. S. Bank contacted Lisa regarding operating account. It was pointed out that the LHA is in charge of cash flow. U. S. Bank would like to see it funded at the 6 -month debt service, and that LHA is in charge of the operating reserve if no cash flow. There is a need to replenish the 6 -month debt service by approximately $30,000 for the years that the property did not cash flow and the reserve was not replenished. Lisa's recommendation is to take the administrative portion of the reserve from the housing authority, which is currently $46,000, as a loan and repay with cash flow yearly. All this is shown on page 35 in board packet. Every year that there was no cash flow LHA covered the deficit. Frank asked requested that we bring a resolution to the next LHA meeting after our in -house legal staff review. The information was brought today for informational purposes. Steve requested the agreement be scanned and emailed to him. Property Management /Maintenance Report Louisville Hillside Square: one resident moving out since she has a Housing Choice Voucher and another family will be moving in the next 10 days. We have 506 -D moving out 9/5 and 502 -A are moving into that unit. Regal 2 has 1888 -B available. Regal Square #4 is available Regal Square #20. No vacancies at Sunnyside and Lilac, Acme Place. 1 vacancy at Lydia Morgan at the end of September, someone on the waitlist will be occupying unit. Section 8: HCV Program Report Monthly statistics Of the current vouchers 69 currently reside in Louisville, Have taken 35 clients off of the waitlist and expect to call 50 more. Resident Services Update Housing Counseling Class Calendars For reference only