MAMMOTH LAKES HOUSING, INC.
Board of Directors Meeting
Tuesday April 17th, 2007
Mammoth Lakes Housing Conference Room
587 Old Mammoth Rd. Suite 5
I. Call to Order
II. Roll Call
Members: Mark Carney, Rob Clark, Rusty Gregory, Byng Hunt, and Kirk Stapp
Staff: Kent Andersen, Jennifer Halferty, Pam Hennarty and Mark Maldonado
Press: Andy- Mammoth Times and Ted Carleton- The Sheet
III. Public Comments
IV. Approval of Minutes from the Meeting of March 22, 2007
Minutes approved on 5-0 vote
V. Discussion of the Board’s Upcoming May 8th Joint Meeting with the County Board of Supervisors
• Scott Burns has requested Mark to review the Mono County HOME Agreement. Mono County could reprogram the HOME grant to include planning and technical assistance in order to help expend the large amount of homebuyer assistance funds on hand.
• Mark met with Kathy Peterson from First 5 Mono County and Katherine Hiatt from Mono County Office of Education to discuss if a partnership could occur between child care facilities and affordable housing
• Scott Burns and Mark will get together and form a base agenda and then have the Mono County Board of Supervisors add to or amend the agenda. Ideas for the agenda should include the discussion of potential projects and whether the County should form a Community Housing Development Organization (CHDO).
VI. Status Report on All Projects
A. Meridian Court
MLH staff is working with an interested household to purchase the final unit.
B. Callahan 4B
The first phase has not yet received the Conditional Certificate of Occupancy. Escrows are scheduled to start closing on May 1, 2007.
C. Aspen Village Apartments
Nothing to report
D. Aspen Condos
MLH received a preliminary proposal from Neubauer and Jennison. The stick built proposal is less than modular though does not include soft costs or developer fees. Staff is working to prepare a sales analysis for the Board for an upcoming meeting.
The project is on or ahead of schedule. Most of the exterior is completed. Approximately six weeks left of building construction.
Staff and consultants are working on obtaining the grading permit and plan to have the building permit in a few weeks.
G. Tavern Road
Application for CDLAC submitted – $10,515,788. Approximately 40 days for notice of award, typically not very competitive.
Application for 4% Tax Credits submitted – $7,363,397. Middle of June for notice of award, typically not very competitive though dependent on CDLAC approval.