MAMMOTH LAKES HOUSING, INC.
Board of Directors Meeting
Thursday, July 2, 2009
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: Sandra Facincani and Byng Hunt
STAFF: Pam Hennarty and Jennifer Halferty

III. Public Comments
None

IV. Approval of Minutes from the June 9, 2009 BOD Meeting- Minutes Attached
Minutes approved with corrections. Neil McCarroll motioned, Bill Taylor seconded with 4-0 vote.

V. Board Member Reports
Member Neil McCarroll informed the Board that Eric Fishburn has been working on a proposal with Berry Judias of Shady Rest Tract. Jim Smith stated he was also in communication with Mr. Judias regarding the Shady Rest Tract.

VI. Agency Review
a. Executive Director’s Report
i. Performance Goals Matrix
• Last year the Town applied for CDBG general allocation and was not funded. It should be noted that this round was very competitive with over $92 million in applications and only $18 million in available funds. Recently the Town was contacted by CDBG on that project/application due to available $90 million in re-allocated funds. Executive Director, Pam Hennarty has been working with CDBG to provide the necessary information to possibly receive funding for this project of acquisition and rehabilitation of real property.
• RCAC, Rural Community Assistance Corporation, has requested that MLH join a consortium of twenty (20) communities to apply for NSP, Neighborhood Stabilization Program, funding. The application is due the week of July 6th, 2009. These funds are only available to the Town of Mammoth Lakes due to census tract requirements. Up to $4 million is available to the Town if awarded.
• Intrawest will now do the rehabilitation of the Kitzbuhel though can’t get started until spring 2010. The Board and Town management recommend requiring bonding for the work by Intrawest.
• Tax credit property management courses are coming up in September this year. Locations are in Alabama, Hawaii and Texas.
• The MLH – Town contract will go before Town Council August 5th at their regularly scheduled meeting.
• The Community Housing Strategy is on hold while MLH and Town staff works on the details of the possible inclusionary housing policy modification.
• The monitoring agreement will be before the Board next month.
• Pay to change deed restriction/resale restriction on hold.
• Ellen Clark with the Town of Mammoth Lakes is working on the Housing Element Update. The draft is currently with the State’s Housing and Community Development Department.
• Next month the Board will perform an Executive Director/Agency review and evaluation. At that time the Board would like to see the proposed performance goals for fiscal year 2009-2010.
ii. Aspen Village
• The final Certificate of Occupancy for the third building is underway at the Town.
• Staff is applying for additional down payment assistance grants from CDBG and HOME for the Town of Mammoth Lakes and the City of Bishop.
• One year loan extension documents have been executed with the lender on this project. Terms include no pay down, and reduced interest

VII. Review and approval of 2009-2010 Budget – Continued from May meeting.
The Board has requested that staff work to negotiate new loan terms with lenders on the organization’s office spaces.

Motion was made by Kirk Stapp to adopt budget on the interim basis to be reviewed in the future. Seconded by Jim Smith. With all in favor for a 5-0 vote.

VIII. Update of Peer Inclusionary Housing Review
MLH and Town staff are working on a better synopsis of data. Some has been obtained though quite a few communities are busy with their Housing Element Updates.

CLOSED SESSION

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

ANNOUNCEMENT OF ACTION TAKEN IN CLOSED SESSION

X. Adjourn