MAMMOTH LAKES HOUSING, INC.
Board of Directors Meeting

Monday, June 3, 2013
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, Kirk Stapp, Rick Wood, and Larry Johnston
Member absent: Marianna Marysheva-Martinez
Staff present: Jennifer Halferty and Patricia Kent
Public present: None

III. Public Comments
There were no comments from the public.

IV. Approval of Minutes from the May 6, 2013 BOD Meeting
Bill Taylor made a motion to approve the minutes with corrections. Kirk Stapp seconded the motion for a 3-0 vote. Rick Wood abstained.

V. Nomination and Potential Approval of New Board Members
The group discussed the potential need to recruit new Board members. Staff will continue to seek new members.

VI. Review Town Budget for Measure 2002A – Workforce Housing
Jennifer Halferty presented the proposed 5-year funding levels for Measure 2002A to housing which depicts a large subsidy to the Town’s General Fund in addition to the agreed upon 10% cut. Larry Johnston pointed out that it would be interesting to see historical contributions to the General Fund as well. Jennifer will present the table at the Town Council Budget Workshop on June 5, 2013.

VII. Discussion of, and Possible Action on, the Town Creating a Revolving Loan Fund Program
The Board discussed the agenda bill regarding the request for a Revolving Loan from the Housing In-Lieu Fund in order to purchase and maintain deed restricted units in the community. It was mentioned that a limit on the amount of funds available may be proposed. The Board is in agreement on the need for a revolving loan. No action was taken.

VIII. Review and Approval of Budget for Fiscal Year 2013-2014
Jennifer Halferty presented the MLH budget for FY 13/14. No changes were made except for the addition of $6,000 for a new website. Additional potential sources of income such as the Housing Element Updates for both Alpine County and TOML were also not included. Bill Taylor made a motion to approve the budget. Kirk Stapp seconded for a 4-0 vote.

IX. Review of Website Design Proposals
The Board agreed that the website needs to be updated. Direction was given to staff to continue to search for a local person to do the work.

X. Board Member Reports
Larry Johnston reported that Mono County has hired a CAO named Jim Leddy from Sonoma County. Rick Wood reported that TOML is looking to hire a Finance Director.

XI. MLH Monthly Status Report
Jennifer Halferty reported on the work that MLH has accomplished in the past month, including coordination with the City of Bishop, the Town of Mammoth Lakes, and Mono County on grant applications. She updated the Board regarding the Town’s CDBG grant application for 1.1 million which was recently denied.

XII. Adjourn