January 4, 2010

MAMMOTH LAKES HOUSING, INC.
Board of Directors Meeting

Monday, January 4, 2010
6:00 p.m.

Mammoth Lakes Housing Conference Room
587 Old Mammoth Rd.

Minutes
I. Call to Order

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

III. Public Comments
Phil Benefiel, a homeowner at Snowcreek IV (SC IV), stated his concern with the possibility that the Aspen Village Townhomes may go back to the bank and the bank’s ability to sell the units within the parameters of the Town’s Use Permit. Additionally he expressed concerns with the potential for second homeowners at Aspen Village Townhomes and his belief that they will park in SC IV. As such, Mr. Benefiel requested that the project go back to Planning Commission before the bank owns the development to review the use permit. He went on to state that the landscaping was not to his liking and that some of the shrubs and trees appeared to be dead last autumn.

IV. Approval of Minutes from the December 17, 2009 BOD Meeting.
Minutes approved with correction. Bill Taylor moved, Byng Hunt second with all in favor, 6-0 vote.

V. Board Member Reports
Bill Taylor and Jim Smith met with Ellen Clark and Mark Wardlaw with the Town regarding Old Mammoth Place and the possible Community Benefits Incentive Zoning (CBIZ) policy impact on the development.

VI. Executive Director’s Report
a. General – A request has been made to UBOC to partner with MLH on the WISH down payment assistance program offered through the Federal Home Loan Bank of San Francisco. The program would match an eligible buyer’s down payment 3-to-1 up to $15,000 and is forgivable after five years of ownership.
b. Update of Pending Grants- Waiting on the CDBG-R contract before making offer on multi-family rehab property.
c. Aspen Village Sales Updates – Two contracts closed in December.

VII. Review of Fiscal Year 2009-2010 Financial Projections
Review and discussion took place of the financial forecast for current fiscal year.

VIII. Discussion of Inclusionary Housing & In-Lieu Fee
The Walter Kieser proposal was solicited by Neil McCarroll and the scope of work goes beyond the necessary data needed to update the ordinance. Additionally the 2010 Census numbers are not far off, once those statistics become available a needs assessment of this depth would be helpful. Board directed Pam to develop a scope of work for the next meeting. The Board agreed that staff and the committee have the required expertise to complete the task.

Closed Session

IX. Pursuant to Government Code Section 24956.8, the Board will hold a closed session to discuss property negotiations- Aspen Village.

ANNOUNCEMENT OF ACTION TAKEN IN CLOSED SESSION
No action taken

X. Adjourn