MAMMOTH LAKES HOUSING, INC.
Board of Directors Meeting

Monday, February 8, 2010
6:00 p.m.

Mammoth Lakes Housing Conference Room
587 Old Mammoth Rd.

Minutes

I. Call to Order

II. Roll Call
Members present: Bill Taylor, Jim Smith for Rusty Gregory, Kirk Stapp, Neil McCarroll, and Rob Clark
Members absent: Byng Hunt, and Sandra Facincani
Town Staff: Mark Wardlaw, and Ellen Clark
MLH Staff: Pam Hennarty, and Jennifer Halferty
Public: Chuck Lande

III. Public Comments
None

IV. Approval of Minutes from the January 4, 2009 BOD Meeting.
Minutes approved as presented by 4-0 vote with Neil McCarroll abstaining.

V. Community Benefit and Incentive Zoning Policy Presentation- Town Staff
Mark Wardlaw, Community Development Director with the Town of Mammoth Lakes addressed the Board reviewing the history of the adoption of the Community Benefit and Incentive Zoning (CBIZ) Policy which included presentations of the policy for review to the Town Council, Planning Commission, and Tourism and Recreation Board. The policy was a result of meetings between Dan Dawson, Jim Smith and Town staff. Several members of the MLH Board found the policy to have conflicts within regarding impact fees and their application to granted incentives.
The Board directed Pam, Bill and Jim to draft a letter to the Town Council with an agenda request on the matter and to review the policy’s application in the Old Mammoth Place development. Furthermore, the Board would like the Council and Town Staff to present the value of the items waived as a result of CBIZ.

VI. Inclusionary Housing Ordinance and In-Lieu Fee Discussion
This agenda item was brought back so that Neil McCarroll could discuss as he initiated a proposal from EPS on this matter and more. Neil requests the work be done quickly, before his term is up on Council. The Board request that Pam work with Walter Kieser on a work-plan for the In-Lieu Fee analysis.

VII. Board Member Reports
Jim Smith reported that Sierra Star is allowing cross-country skiing and snowshoeing on the golf course through March 7, 2010.

VIII. Executive Director’s Report
a. General
• Wrapping up the Alpine County Housing Element Update.
b. Update of Pending Grants
• Working with the City of Bishop on their First-time Homebuyer Assistance Program.
• Collaborating with Mono County to see the final pieces of their 2009 HOME award completed and therefore ready for lending.
• The Neighborhood Stabilization Program (NSP) II consortium application that we were a part of was not funded. RCAC coordinated the application and is requested a debriefing from HUD on the outcome.
•
c. Aspen Village Sales Updates
• Eleven units either sold or in escrow at Aspen Village. Lots of interest and one of the new escrow put the total resale restricted units to six. The lender is willing to go to the five required resale restricted units but not beyond. With this additional unit there may be a need to fill the gap with the lender. After thorough discussion regarding the cost to create a new resale restricted unit, the equity in this development and the cost of the gap, Kirk Stapp moved that we negotiate with the lender and if ultimately MLH must come in with the gap we’ll look to use the Housing In-Lieu fees. Bill Taylor seconded and all were in favor for a 5-0 vote.

IX. Review of Second Quarter Financial Statements
The board reviewed the financials.

Closed Session

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

XI. Adjourn