Board of Directors Meeting

Tuesday, June 20, 2006
2:00 p.m.

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


I. Call to Order

II. Roll Call
Members: Mark Carney, Peter Denniston, Byng Hunt (present for closed session portion of meeting only), Kirk Stapp, and Rob Clark

III. Public Comments
No public comments.

Closed Session

IV. Pursuant to Government Code Section 54957, the Board will enter into closed session for the purpose of considering the Public Employee Appointment of an Executive Director for Mammoth Lakes Housing, Inc.

V. Pursuant to Pursuant to Government Code Section 54957, the Board will enter into closed session to conduct an evaluation of performance of the Executive Director.

No action taken during closed session.

VI. Approval of Minutes from the Meeting of May 24, 2006
Minutes approved as presented by a 4-0 vote with one abstention.

VII. Review and Approval of Draft FY 06/07 Operating Budget
Budget approved as presented by 5-0 vote.

VIII. Consideration of the Development Program Alternatives for the Project Located at 105 Old Mammoth Rd
On April 4, 2006, the Mammoth Lakes Housing, Inc. (MLH) Board of Directors determined that the Park and Ride Housing Project should be a “stand alone” project that utilizes the grant and other funding for the 31-unit housing project.

On June 20, 2006, the Board unanimously reaffirmed this action, and clarified the direction and recommendation to the Town Council as follows:

MLH/Pacific West Communities, Inc (PWC) will develop a stand alone project, as depicted in KTGY Design Option 2c that consists of:

1) 31 low, very low and extremely low income apartments
2) Retail/commercial along the Old Mammoth Rd. frontage that is not more than 6,000 sq ft
3) Parking that is sufficient to support the existing Park and Ride, housing and commercial (approx. 160 – 170 spaces)

In addition, the Board stated that as plans for the neighboring properties are developed, the Board remains open to coordinating project efforts if the plans for the neighboring property and “catch-up” in accordance with the MLH timetable. The Board remains open to including additional parking, above and beyond the requirements listed above, as long it is paid for by someone other than MLH and its development team.

IX. Consideration and Possible Approval of the Exclusive Negotiating Agreement Concerning 105 Old Mammoth Rd.
The MLH Board recommends the Town Council enter into the Exclusive Negotiating Agreement (ENA) without Mammoth Lakes Housing, Inc. as a signatory to the Agreement. The ENA needs to reflect the Board’s action and recommendation as stated above and should reflect our willingness to include additional parking should the means to pay for it become available.

X. Meeting Adjourned
The next meeting is scheduled for Wednesday, July 12th, 6PM at the Mammoth Lakes Housing, Inc. office.