Loading...
HomeMy WebLinkAbout1999-12-09 Reading Housing Authority MinutesREADING HOUSING AUTHORITY MINUTES OF THE BOARD RETREAT MEETING OF DECEMBER 9, 1999 A Board retreat and planning meeting of the Reading Housing Authority was held on Thursday, December 9, 1999 at 5:00 P.M. at the office of the Authority, 22 Frank D. Tanner Drive in the town of Reading, Massachusetts. The meeting was called to order at 5:00 P.M. with the Chairman, Mr. Sweet, presiding. Also in attendance were Mr. Allen, Ms. Galvin, and Ms. Connors as well as the associate Board Member, Ms. Flammia and the Executive Director, Ms. Plansky. Finances Upon a motion duly made by Mr. Allen and seconded by Ms. Galvin, it was unanimously VOTED: To approve and sign the checkroll/billroll for the period for payroll checks #2408 -2412, as presented. Upon a motion duly made by Mr. Allen and seconded by Ms. Galvin, it was unanimously VOTED: To authorize the Executive Director to sign any and all contracts with Varieka Construction of Brockton, Massachusetts for work totaling $203,600.00 for the replacement of all windows at the Frank D. Tanner Drive 667 -C complex. 75 Pleasant Street Purchase and Financing Upon a motion duly made by Mr. Allen and seconded by Ms. Connors, it was unanimously VOTED: To approve and authorize the Executive Director to sign any and all documents associated with the purchase and financing of 75 Pleasant Street at a purchase price of $213,750.00 plus an additional $1,000 +/- for stamps, acting as agents for the Town of Reading. 75 Pleasant Street The Board of Selectmen has requested that the Reading Housing Authority act as agent for the Town and purchase the 2- family house at 75 Pleasant Street in the amount of $213,750.00. The RHA would have to pay the stamps which would cost an additional $1000.00 + / -. Our attorney reviewed the P &S and he is working with Town Counsel to get the Chapter 30B certification. We have received 2 financing proposals: Reading Cooperative Bank $215,000.00 30 years @ 7.5% with 4304 at 52 Sanborn Street as collateral until <80% of loan to value. Closing cost are RHA responsibility. Page 2 Minutes 12/9/99 MASSBANK $215,000.00 30 years @ 7.5% with #304 at 52 Sanborn Street as collateral until <80% of loan to value. Closing costs are RHA responsibility and are itemized. Upon a motion duly made by Mr. Allen and seconded by Ms. Galvin, it was unanimously VOTED: In order to increase financial opportunities for affordable housing in the Town, a Board au orizes a Executive Director to sign a mortgage to-an with MASSBANK in the amount of $217,400 for 30 years at 7.5% fixed rate as defined in their proposal. The use of one unit at Schoolhouse for collateral on the loan to be held until <80% loan to value has been reached is also hereby authorized Closing costs should not exceed those defined in the MassBank proposal. The Chairman then declared said motion carried and said vote in effect. Five Year Plan — HUD The Executive Director introduced Diane Cohen who would act as facilitator for the 5 year plan for HUD for housing authorities with only Federal Section 8 housing units. The Board received the plan template provided by HUD. The Board accepted the mission statement as presented and approved its incorporation into the RHA plan. The Board would like to consider and review the prospect of site -based wait lists and the possibility of a homeowners program during this period. Ms. Cohen reviewed the pertinent sections and noted the answers suggested by the Board. A draft proposal will be ready for Board review in January. At the end of the session, the Board thanked Ms. Cohen and continued its work on the financial prospects for the next 5 years for the Authority along with a work plan. Mr. Allen presented several scenarios for leveraging capital from current real estate holdings and reviewed them with the Board. At the end of Mr. Allen's presentation, the Board set the following work plan outline: SHORT TERM PROGRAM: December— January 2000 Dig foundation— Comprehensive Permit for Pleasant and Wilson Street. Hire new maintenance man. Reconfigure community room for meeting space. Work on meals program at Tanner Drive. Page 3 ' Minutes 12/9/99 January — February 2000 Comprehensive Permit — Financing for Linden Street. Acquisition and financing for 75 Pleasant Street. Contract with Marriott Corporation negotiated and signed. Start of work for 667 window replacement. Relocation of tenants for window replacement, as necessary Bid for preconstructed duplex home for Pleasant/Wilson Streets. March — April 2000 Continue work on 667 window replacement. Start rehab of 75 Pleasant Street and start renting units. Accept bid for duplex and locate building on Pleasant/Wilson Street site. Start work rehab plan for Linden Street. Start meals program at Tanner Drive. Work on scheduling and structuring home care and other program at Tanner Drive. May -June 2000 Finish work on window replacement Acquire and finance 82 Linden Street. Rehab 82 Linden Street and start renting units by July Complete work on Pleasant/Wilson Street site — rent units. Close out Pleasant Street project. Look at work schedule and start search for new Executive Director for work start by end of September. LONG TERM GOALS: • Provide supportive care to residents at Tanner Drive • Obtain necessary funding to provide handicapped access units and congregate and meal site for 667 development. • Help families and elderly acquire self - sufficiency: • Families — mentoring, parenting, improving skills, etc. • Elderly — provide additional care to maintain independence, look to funding additional services to maintain independence for frail elders, rent a friend program, additional socialization, speakers on coping with reduced skills and losing loved ones, etc. • Buy additional units for families • Provide 2 units of transitional housing for families with necessary support program. • Increase office space and provide new handicapped units at 667 development. • Explore construction of a new maintenance building. Page 4 Minutes 12/9/99 There being no further business before the Board, it was unanimously voted to adjourn at 9:50 P.M. Respectfully submitted, Vlargar&'K. Plansky, Secretary and Executive Director