Board of Directors Meeting

Monday, May 16, 2005
6:00 p.m.

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


I. Call to Order

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

III. Public Comments
Community member, Mr. Gordon Alper was in attendance to learn about and participate in the Condominium Acquisition Strategy discussion. President Stapp requested that since the item was on the Agenda it would be discussed at that time.

IV. Approval of Minutes of April 19, 2005 Board Meeting
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 April 19, 2005.

V. Review of Condominium Acquisition Strategy and Direct Staff to Take Recommendation to Planning Commission
The Executive Director reviewed the Condominium Acquisition Strategy discussed at the April 19, 2005 Board meeting. At that meeting, the Board and staff arrived at the conclusions outlined below:

A developer can apply for an Alternate Housing Mitigation Plan as provided by the Town Code in which the acquisition and rehabilitation of existing housing units will serve as housing mitigation. The guidelines for such a Plan are as follows:

1) Number of units: If a developer chooses to acquire existing housing stock, rather than mitigate housing impacts on-site, a substantially greater community benefit must be demonstrated. The greater benefit is the provision of additional housing units. A developer will be required to provide housing for the Full Time Employee Equivalents (FTEEs) generated according to the Housing Mitigation Ordinance, plus an additional 75%. For example: If a project generates 10 FTEEs, 17.5 FTEEs must be mitigated through acquisition of existing housing stock.
2) Types of Units: A developer is not limited as to the location, type or occupancy of the existing units. Any condominium, apartment or combination there of may be acquired, regardless of whether the condominium is available for nightly rental. If a long-term renter currently occupies a unit, relocation assistance measures will be required.
3) Unit Quality Standard: Developers will be required to rehabilitate the acquired units to a standard similar to the standard that would be provided if the units were newly constructed on-site. Specifications and requirements for this ‘new’ standard will be developed and implemented administratively.
4) Conveyance of Units: As required/allowed by the Housing Mitigation Ordinance, Developers can first offer the rental and sales units to the employees of the project being mitigated, and then offer the units to the Community-wide Waiting List. All Rental and Sales Income shall remain with the developer/owner.

The Board approved the above policy decisions and recommended that MLH take the recommended Condo Acquisition Strategy to the Planning Commission for review and staff direction implementation. The Board also recommended that the Planning Commission decide that the Strategy issues be a policy direction for Alternate Housing Mitigation Proposal rather than a zoning code amendment.

Mr. Alper added that as a GPAG member, he found that building a great deal of housing was going to be detrimental to the overall population densities and recommended the recycling of condos that were older and coming back into the housing stock as they thought that was a better approach then building new. Most importantly, according to Mr. Alper, MLH should also consider acquiring units and rehabilitating as opposed to building new, as it’s first course.

VI. Consideration of a Resolution Amending the Bylaws of the Corporation to Add the Vice President of Sales as an Officer of the Corporation
Ms. Clark states that in order for MLH staff to serve as a real estate broker for Mammoth Lakes Housing, Inc., the person holding the Broker’s License must be an officer of the corporation. She recommended to the Board to approve the Resolution creating the office and electing Pam Hennarty as the Vice President of Sales. The Board voted unanimously to approve the Resolution

VII. Approve Creation of the MLH Real Estate Brokerage “Eastern Sierra Resident Properties”
Ms. Clark informed the Board that MLH could become a real estate brokerage with Pam Hennarty’s appointment to Vice President of Sales. She recommended that the Board approve the creation of the MLH Real Estate Brokerage “Eastern Sierra Resident Properties’ and to direct the staff to take all actions necessary to comply with local and state regulations regarding the brokerage. The Board voted unanimously to approve the creation of the Brokerage.

VIII. Recommendation to the Town of Mammoth Lakes Town Council Regarding the Use of the Town-owned Property, APN 33-124-03 & 04
Ms. Clark discussed the parcel of land at the corner of Manzanita St. and the Main Street frontage, purchased in 2003 by the Town for the purposes of developing a public safety facility. The purchase was financed through a COP in January 2004 and the Community Facilities allocation of TOT paid $166,681 in debt service in 2004. Since that time, the Town began actively pursuing acquisition, through Forest Service Exchange, of the ‘Church Parcel’ for a joint use Civic Center. Preliminary design of the Civic Center includes a public safety facility, thus negating the need for the one-acre parcel on Manzanita.

The Town and Mammoth Lakes Housing, Inc. staff discussed transferring the intended use of the Manzanita parcel from public safety to workforce housing. Transferring the use of this property requires debt service for the property to be assumed by the Housing TOT allocation. The proposed FY 05-06 Workforce Housing Budget includes the annual debt service payment on this property.

Council will consider this formal change in use and debt service payment in its FY 05-06 budget. Ms. Clark recommended that the MLH Board forward a recommendation that Council approve the change in use, and have the Housing TOT budget assume the debt service and repay the Community Facilities TOT for the FY 04-05 debt service payment. The Board voted unanimously to forward the recommendation to Council.

IX. Review of MLH Priorities for FY 04/05 and Provide Staff Direction Regarding FY 05/06 Priorities for Budgeting Purposes

Ms. Clark stated that Staff is developing the MLH’s FY 05-06 Budget and is looking to the Board for direction on some key issues. She asked the Board to affirm the priorities outlined in the FY 04-05 planning session and add the development and implementation of a countywide homebuyer assistance program as a priority, which would require additional staffing or consulting services. The Board agreed and reaffirmed the FY 05/06 Priorities and to continue to move towards the HBA program.

She also informed the Board, that should they elect to commission an audit for the ‘03/04 and 04/05 Fiscal years, staff would need to budget $5,000 for the service. She recommended against an audit for those years, as transactions remain small in size and in number. The Board agreed.

X. Pursuant to Government Code Section 54957.6, the Board will hold a closed session to conduct public employee contract negotiations regarding the position of Executive Director

No action taken

XI. Adjourn
Next Board Meeting Scheduled for June 9, 2005, 5:00 p.m., MLH Office.