Board of Directors Meeting
Monday, April 6, 2009
6:00 p.m.
Mammoth Lakes Housing Conference Room
587 Old Mammoth Rd.


I. Call to Order

II. Roll Call
Members: Bill Taylor, Byng Hunt, Jim Smith for Rusty Gregory, Kirk Stapp, Neil McCarroll, Rob Clark, and Sandra Facincani
Staff: Pam Hennarty, Jennifer Halferty, and Kent Andersen

III. Public Comments

IV. Approval of Minutes from the March 5, 2009 BOD Meeting
Minutes were approved as presented. Byng Hunt motion, Rob Clark seconded, approved 5-0 with Neil McCarroll and Sandra Facincani abstaining.

V. Agency Review
a. Aspen Village Condos
i. Sales Update – One unit in escrow and meeting with an additional household to sign a purchase agreement this week. Implemented a price reduction in units to stimulate sales.
ii. Potential for Conversion to Rental – Pam spoke with USDA which has a program to guarantee a permanent loan. Requires that the units be affordable for 25 years and allows households to earn up to 115% of the Area Median Income. The recent appraisal order by the bank shows a reduction of value of $1.7 million. There is an additional appraisal update occurring currently and the Board requested a copy when completed. Board requested a white paper on current options to meet the financing requirements. A special meeting will be set to discuss this.
b. Executive Director’s Report
i. Performance Goals Matrix – Working aggressively to market Mono County down payment assistance program as expenditure deadline is approaching. Speaking at Bishop City Council to discuss potential CDBG application for down payment assistance. City of Bishop requested a proposal from MLH to monitor the Willow Plaza project in Bishop. Staff will be attending a tax credit certification in order to be eligible to monitor tax credit projects.
ii. Update on Kitzbuhel Apartments – Working with Karen Johnston who had sent an email to Intrawest requiring a response by April 10th.
iii. Housing Strategy Update – Continuing to make progress.
iv. Update on Town of Mammoth Lakes Monitoring Ordinance – Waiting for feedback on a couple of items.
v. Mono County Housing Element Participation – Meeting with each County RPAC/CAC soliciting input.

VI. Consideration of Request of Zoning Change for San Joaquin Villas from Resort to RMF-1
Current CC&R’s and other zoning documentation are not clear on transient rentals. Town staff would like to pursue options for limiting transient rentals within the development due to design constraints. Kirk Stapp motioned that MLH recommend not allowing transient rentals at the San Joaquin Villas. Byng Hunt seconded, approved 5-0 with Neil McCarroll and Sandra Facincani abstaining.

VII. Report of Available Land and Affordable Housing Needs
Continued discussion from March meeting. Bill Taylor noted that the 1000 units needed do not address those households that are currently overcrowded or overpaying. No action taken.

VIII. Consideration and Recommendation to Town of Mammoth Lakes for Use of Housing In-Lieu funds for First Responder Down Payment Assistance
Rob Clark motioned to not recommend use of the Housing In-Lieu funds for down payment assistance for First Responders and to advise Town Council to reserve these funds for the Aspen Village Townhomes. Byng Hunt seconded, approved 6-0 with Neil McCarroll abstaining.


IX. Pursuant to Government Code Section 24956.8, the Board will hold a closed session to discuss property negotiations- Multiple Properties
– The Board chose to not exercise the option to purchase, but to allow the owner at APN#33-160-92-0002 to rent the unit.
– Neil McCarroll motioned to approve the expenditure of up to $35,000 in closing costs for the Aspen Village at Mammoth Creek Building G to homebuyers on an “as-needed” basis. Bill Taylor seconded, approved 7-0.

X. Adjourn