MAMMOTH LAKES HOUSING, INC.
Board of Directors Meeting

Monday, June 9, 2005
5:00 p.m.

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

Minutes

I. Call to Order

II. Roll Call
Board Members: Byng Hunt (Director), Kirk Stapp (President), Rob Clark (Treasurer) and Mark Carney

III. Public Comments
None

DISCUSSION ITEMS
IV. Review of Financial Statements for Quarter Ending Dec. 31, 2004
Executive Director Andrea Clark presented the compiled Quarter ending Dec. 31, 2004 financial statement. There were no questions or comments from the Board.

ACTION ITEMS
V. Approval of Minutes from 5/16/05
Action: Moved by Board Director Byng Hunt, seconded by Board Director Rob Clark, and carried by a 3-0 vote to approve the Minutes of May 16, 2005.

VI. Review and Approval of the FY 05/06 Operating Budget
Ms. Clark presented the proposed FY 05/06 Operating Budget for the Board’s review and approval. She discussed some of the more considerable items such as payroll. The following budgetary year would see an increase in staff as a full-time employee would need to be hired to administer the Home Buyer Assistance program. There were no other significant shifts in items and the operation would not need to increase its contract with the Town.
Action: By a 4-0 vote, The Board approved the FY 05/06 Operating Budget

VII. Consideration of a Resolution Authorizing the Execution and Submittal of Necessary Documentation Pertaining to the Meridian Court Project to the California Department of Real Estate
Ms. Clark explained to the Board that Mammoth Lakes Housing, Inc., as the developer of the condominium project, Meridian Court, it is required that MLH secure Public Reports for the State of California Department of Real Estate. The State of California Department of Real Estate requires a Corporate Resolution authorizing an individual, on behalf of the corporation, to prepare, execute and submit any and all documentation necessary to secure Public Reports from the State of California Department of Real Estate.
Action: By a 4-0 vote, the Board authorized and directed staff to take such actions necessary to secure Public Reports from the State of California Department of Real Estate for the Meridian Court Subdivision.

VIII. Authorize the Executive Director to Act on Behalf of the Board Regarding a Request to have the Town Attorney Represent MLH in an Eviction Case and Waive Conflict of Interest with Regards to that Representation.
Ms. Clark discussed the eviction of MLH’s tenant at 129 Dorrance. Since the tenant was opposing the eviction, she requested the Board to allow staff the use of the Town attorney to represent MLH in the case, on this one occasion.
Action: By a 4-0 vote, the Board moved to authorize the use of the Town attorney for the eviction case.

CLOSED SESSION
IX. Pursuant to Government Code Section 54957, the Board will hold a closed session to conduct an evaluation of performance of the Executive Director

ANNOUNCEMENT OF ACTION TAKEN IN CLOSED SESSION
No action taken ?????

X. Adjourn
Next Board Meeting Scheduled for August 1, 2005, 5:00 p.m., MLH Office.