MAMMOTH LAKES HOUSING, INC.
Board of Directors Meeting

Monday, February 7, 2005
6:00 p.m.

Mammoth Lakes Housing, Inc. Office
587 Old Mammoth Rd. #5
(Ground Floor Sherwin Plaza 3)

Minutes

I. Call to Order

II. Roll Call
Members: Mark Carney, Rusty Gregory, Byng Hunt, Kirk Stapp, and Rob Clark

III. Public Comments
Ted Carlton asked Board Director Rusty Gregory if the rumors were true that MMSA would be raising their ticket prices from $63.00 to $70.00. Mr. Gregory responded by stating that MMSA would be raising their ticket prices on Saturdays and holidays to keep the crowds down on the weekends. The midweek ticket price would not increase as much.

IV. Approval of Minutes of December 13, 2004 Board Meeting
Action: Moved by Board Director Byng Hunt, seconded by Board Director Rob Clark, and carried by a 5-0 vote to approve the Minutes of December 13, 2004.

V. Executive Director and Board Reports
President Stapp presented the Resort Service Initiative diagram. He discussed the bullet points, funding sources and uses, and stated that the issue would be brought back to Town Council at the next meeting. The Board suggested that the package be designed to include many interest groups to get the 2/3rds vote needed. Executive Director Andrea Clark stated that the plan clearly benefited MLH and inquired as to when the corporation should begin advocating the passage of the issue. Mr. Stapp explained that as soon as Town Council was clear on the shape and model of the Initiative, they would go forward … probably within a month.

a. New Projects Update
Lupin/Dorrance
Ms. Clark described the Lupin/Dorrance project. She discussed the outcome of the neighborhood meeting held on January 27, 2004. Two hundred fifty (250) invitations (the entire neighborhood) were mailed out, advertising in the Times and The Sheet, as well as radio coverage in the area. Five (5) people attended the meeting. The residents and other community members that attended were most interested in density and placement. The next public meeting for the project will be held when a preliminary site plan is ready for review.

Oaktree/Old Mammoth
Ms. Clark discussed the upcoming meeting for the Oaktree project. The meeting will be held on February 10th, at the Town of Mammoth Lakes, Suite Z. Invitations were being hand delivered and mailed to adjoining businesses and residences. Ms. Clark discussed the meeting between the property owner, John Vereuck, and MLH. She hoped to have a workshop with the planning commission in the near future. The project would be requesting a lot-line adjustment, as well as other entitlements.

Ms. Clark also discussed parking in the neighborhood and MLH’s vision to manage more parking. If MLH controlled more parking spaces, it could issue permits for visitors or second-car owners, who would park offsite from the housing projects. This would allow for better site planning on all housing project sites. She also talked about the potential costs for a shared parking structure and whether or not the Town of Mammoth Lakes wanted to participate.

Shady Rest
The planning commission will be holding a workshop, February 23, 2005. The meeting
will be informational.

VI. Discussion and Possible Action Regarding South Gateway Master Planning Effort and Use of Mammoth 8050, LLC. In-lieu Housing Fee
Ms. Clark asked the Board to look at Mr. Clark’s memo regarding the Gateway/8050 issue and the role of MLH. Mr. Clark presented a conceptual outline of how the dorms would be funded and the timeline for funding and building. He stated that the dorms would cost $4 to $5 million. A bond would be secured by the dorm revenues, which would pay for half of the cost. The plan was also to sell 20 acres of land for workforce housing. He stated that the dorms needed to be in place fairly soon to make the college viable.

Mr. Stapp stated that he was supportive of the land purchase. He discussed the former negotiations and what needed to be accomplished now. His issues were: where would MLH’s parcel be located; where was the appraisal, the EIR and pro forma from the Foundation; how the 8050 funds would be used; and upcoming NIMBY issues.

Ms. Clark informed the Board that an upcoming workshop between all six south gateway stakeholders would discuss the overall site and the best uses for the land. She stated that at this point, MLH was not interested in buying the land until the General Plan was completed. In addition, MLH could not purchase land until the value was known.

The Board discussed the fact that the first deposit of $1 million from 8050 had been received and is currently in a low, interest-bearing account, and that the money could be put to better use.

Mr. Gregory presented a plan to the Board. He suggested that the Town give MLH the 8050 funds to manage and invest, with the intent to invest the funds with the Foundation at a competitive interest rate with a right of first refusal on land to be sold for workforce housing. The Board asked Ms. Clark to follow up on the proposal and request the funds from the Town.

VII. Discussion Regarding Workforce Housing Applications Received, and Discussion of Possible Changes to the Eligibility Criteria
Executive Assistant Kim McMahon presented and discussed handouts and statistics relating to the housing applicants and the process. She stated that approximately twenty (20) applicants did not meet the two (2) year employment history criteria. Ms. Clark described the employment criteria, the workshop attendance and the lottery process. Ms. Clark asked the Board if they wanted to consider changing the criteria from the two (2) year work history to a one (1) year work history at Mammoth Lakes.

The Board discussed the lack of applications. Ms. Clark stated that one reason for the small number of applicants was pure lethargy on the part of the community. Some of the reasons given by workshop attendees that did not apply were that they were “too busy,” it was “not worth the restrictions vs. appreciation,” and “not affordable.” In addition, it was difficult for some community members to visualize units that were not built yet.

The Board discussed ideas and scenarios about changing criteria, flexible waitlists, and different lottery processes. The Board voted to change the employment criteria from a two (2) year work history in Mammoth Lakes to a one (1) year work history in Mammoth Lakes.

VIII. Review and Adopt Strategic Planning Session Report
Ms. Clark asked the Board if the revised Strategic Plan met their expectations. Mr. Stapp stated that it was much improved and that it tied into the Executive Director’s evaluation. He asked that the “List of Opportunities” be included as an attachment and that Staff continue to check the list. The Board agreed to adopt the Strategic Plan with minor additions and changes, subject to additional editorials.

IX. Consideration of MLH Name Change or Creation of a Subsidiary Corporation
The Board discussed the fact that eventually, the opportunity would arrive for MLH to go outside of Mammoth Lakes. Mr. Stapp stated that the issue was on the Agenda because of the Crowley Lake School District proposal. It was decided that a subsidiary company could be created, but there was no need to establish the entity now, as it could be arranged within a very short time.

X. Closed Session
Pursuant to Government Code Section 54957, the Board will hold a closed session to conduct a performance evaluation of the Executive Director.

Adjourn
Next Board Meeting is scheduled for April 4, 2004, at 6:00 p.m., MLH Office.