Board of Directors Meeting

Tuesday, April 2, 2013
5:00 p.m.

Mammoth Lakes Housing Conference Room
587 Old Mammoth Rd.


I. Call to Order

II. Roll Call
Members present: Bill Taylor, Kirk Stapp, Larry Johnston, Rick Wood
Member absent: Marianna Marysheva- Martinez
Staff present: Jennifer Halferty, Pam Hennarty
Public present: Andy Geisel

III. Public Comments
No comments given.

IV. Approval of Minutes from the March 11, 2013 BOD Meeting
Larry Johnston motioned to approve minutes as presented, Kirk Stapp second the motion with all in favor for a 4-0 vote.

V. Nomination and Potential Approval of New Board Members
The Board requested that staff prepare an advertisement seeking prospective members to fill vacancies.

VI. Follow-up on Meridian Court/Deed Restriction Discussion from the March 11 Meeting
Under an older deed restriction, the one primarily in place at Meridian Court, MLH has the option to purchase units within 30 days of the owner’s notice of intent to transfer. Additionally, the buy-back price is the lesser of either the maximum resale price or the appraised value. The Board directed staff to have appraisals performed on the two units available at Meridian Court. Board discussed several different funding sources for possible use in a buy-back scenario. The intention would be to have the deed restriction maintained.

VII. Review of Bylaw Changes Including CHDO Recommended Language
The bylaws presented are a completely new set that not only add CHDO language but also set the board up with directors instead of the membership format of the original set. The Board requested that the item be tabled until next month to allow for further review and the further clarification of the apparent conflict of interest expressed by the Community Development Block Grant (CDBG) at the State’s Housing and Community Development Department.

VIII. Discussion Regarding Succession Planning for MLH
Pam Hennarty made the Board aware of Town Manager, Marianna Marysheva-Martinez’s request for Town review and participation of the recruitment process of the Executive Director position if the Board chose to go out to fill the position.

IX. Discussion and Approval of Agreement Regarding MLH Broker’s License
Jennifer Halferty will be pursuing her Broker’s License and in the interim Pam Hennarty will enter into an agreement with MLH to serve as the organization’s Broker should those services be necessary. MLH has a errors and omissions policy that Pam will remain covered by until which time her brokerage services are no longer required.

X. Approval of Changes to Union Bank Signatories
Kirk Stapp motioned to change the signatory card on Union Bank checking account numbers: 3721965980 and 3720014113 to include Kirk Stapp, (Bill) William Taylor, and Jennifer Halferty. Larry Johnston second the motion with all in favor for a 4-0 vote.

XI. Approval of Closing Eastern Sierra Community Bank Account and the Transfer of Funds to Union Bank Account
Rick Wood motioned to close the Eastern Sierra Community Bank account number 5701236 and move the funds to Union Bank account 3721965980, Kirk Stapp second the motion with all in favor 4-0.

XII. Board Member Reports
No reports were presented.

XIII. MLH Monthly Status Report
• Pam attended the Inyo County Board of Supervisors meeting where they voted 3-2 to remove the first time homebuyer assistance portion of their 2013 CDBG application
• Prepare and work with Town staff on the Town’s CDBG 2013 application
• Address the need for staffing after Pam’s departure including creating a new job description
• Research CHDO bylaws
• Address the concerns of Board on apparent conflict of interest from CDBG with legal counsel

XIV. Closed Session- Pursuant to Government Code Section 54957, the Board Will Hold a Closed Session to Discuss the Status of the Executive Director position.
The Board voted 4-0 to appoint Jennifer Halferty as Executive Director. Jennifer has been an integral MLH team member for seven years and has an in-depth knowledge of all MLH developments, programs and operations. Congratulations!

XV. Adjourn