Board of Directors Meeting
Tuesday, February 10, 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 January 8, 2009 BOD Meeting
Minutes were approved as presented. Bill Taylor motioned, Kirk Stapp seconded, approved 6-0 with one abstention.

V. Agency Review
a. Aspen Village Condos – Jennifer presented. The first purchase contract has been executed, with a second potentially this week. Received Certificate of Occupancy on the first building (G). Have been receiving a lot of press and staff has provided several community showings. Two of the units have been placed on the Multiple Listing Service. Staff estimates approximately one year to complete the sales of all 24 units. Appraisal has been order to start process of extending the construction loan.
b. Executive Director’s Report – Discussions taking place on potentially taking over the property management from Buckingham. Pam has spoken with the tax credit investors which are requesting that a MLH staff member attend a tax credit project eligibility course. The management fee from the projects would be able to pay for this course.
i. Performance Goals Matrix
• Pam contacted the Inyo County Board of Supervisors, City of Bishop, Mono County, and the Town of Mammoth Lakes regarding upcoming grant opportunities. The Inyo County Board of Supervisors are not interested in pursuing homebuyer assistance for residents. Pam has a meeting scheduled with Bishop City Manager Rick Pucci to discuss homebuyer assistance. Currently working with Mono County and the Town of Mammoth Lakes on potential grant applications.
• Pam is reviewing constrains chapter within the Housing Element with Ellen Clark. The Planning Commission created a two person sub-committee to review the draft (end of March) and potential zone code changes.
• Pam and Ellen Clark are also working on Neil McCarrol’s request on total needed workforce housing units and how much land will be required. Currently waiting for more information on Persons at One Time (PAOT).
• Community Housing Strategy is progressing well. Advertisement placed in the newspaper for the survey. A draft strategy document will be available for the Board before the April Board of Directors meeting.

VI. Review of Second Quarter Financial Statements
Jennifer presented to the Board. The property held for sale is the Meridian Court unit still for sale. Current projection is showing a potential positive cash flow by the end of the fiscal year.

VII. Discussion of Town of Mammoth Lakes Workforce Housing Monitoring Program
The Board authorized staff to begin the process of taking on the Town of Mammoth Lakes Workforce Housing Monitoring Program under the current contract form the Town. Staff will work with the Town on the creation of an ordinance to allow enforcement rights.

VIII. Discussion of Mammoth Lakes Town Council discussions of DIF Reduction and Transient Occupancy for Single Family Homes
On February 4th the Town Council temporarily reduced the Developer Impact Fee (DIF) by 55% for new construction and remodels of single family homes. This included an 85% reduction in workforce housing fees. The Town Council also directed the Planning Commission to hold public meetings regarding the Transient Occupancy Tax (TOT). The Board asked that TOT be placed on the next agenda.


IX. Pursuant to Government Code Section 24956.8, the Board will hold a closed session to discuss property negotiations- Multiple Properties
No action taken.

X. Adjourn