Board of Directors Special Meeting

Monday, June 14, 2010
4:00 p.m.

Mammoth Lakes Housing Conference Room
587 Old Mammoth Rd.


I. Call to Order

II. Roll Call
Members: Bill Taylor, Jim Smith for Rusty Gregory, Kirk Stapp, Neil McCarroll, Rob Clark, and Sandra Facincani
Members absent: Byng Hunt and Sandra Facincani left the meeting early at 2:55 pm
Public: Leigh Gaasch
Staff: Pam Hennarty, Jennifer Halferty

III. Public Comments

IV. Review and Recommendation of Approval of Snowcreek Development Agreement Housing Implementation Plan to the Mammoth Lakes Town Council.
The goal was to remove the limiting housing parameters outlined in the Draft DA’s Financial Framework. As a result of negotiations between the developer and MLH the framework will have a cap of $8.5 million dollars. Bill motioned to use the 10% inclusionary housing requirement, meeting the needs of 80-120% AMI which can go above if at the time of permit there are documents to support higher AMIs, and no cap of the $8.5 million. Neil is concerned that this does not fit within the constraints of the Draft DA approved by the Planning Commission, Kirk second. Rob discussed his concern with the open ended terms of this motion. Rob stated he could not support because it may not work for the developer and he would prefer to take into consideration alternatives to new development of workforce house such as rehabilitation of existing housing and down payment assistance. Kirk supported the motion as he thought it would provide housing for the community. Neil stated that he will vote on the matter here today and on Council after he hears from the public. Neil also believes that Pam did a good job negotiating and is not in favor of this motion. Motion failed with 3 nays and 2 yays (Sandra left the meeting prior to the motion).

Bill then motioned to endorse the recommendation of the Executive Director with the deletion of FTEE from the Draft DA as well as the 175-200% AMI from the Draft DA plus and increase of the $8.5 million to $10.81 million based on a blended cost gap of $115,000. Motion failed for lack of a second.

Neil motioned to support the $8.5 million with an appropriate inflation index on the units not built onsite plus deleting the reference to 16.5 FTEE and 175-200% AMI from the Draft DA, additionally combining section 4.1.3 and 4.1.4, deleting last sentence of section 4.1, and redrafting the 2nd sentence of 4.1.2 that states “could” of the Draft DA. Jim second the motion. Leigh asked if the land would be set aside now and where was the housing going to go? Motion passed with 3 yays and 2 nays.

V. Adjourn