Board of Directors Meeting

Thursday March 22, 2007
6:00 p.m.

Mammoth Lakes Housing Office
587 Old Mammoth Road, Suite #5


I. Call to Order

II. Roll Call
Members: Mark Carney, Rusty Gregory, Byng Hunt, Kirk Stapp, and Rob Clark

Staff: Mark Maldonado, Pam Hennarty and Jennifer Halferty

III. Public Comments
Executive Director, Mr. Maldonado announced that Administrative Assistant Norma Tapia gave notice that her last day with Mammoth Lakes Housing will be March 30th.

Mr. Benno Nager, with Intrawest, gave an update of the site plan and the sales list of San Joaquin Villas. Mr. Nager also informed the Board that the Temporary Certificate of Occupancy for Phase I is expected April 1st. There are six buyers that are in escrow. It is Intrawest’s goal is to have 16 units sold by June 30th and to help meet this goal Intrawest is willing give $40,000 of incentives.

The Executive Director Announced that CDBG staff will be monitoring next week on March 28.

On Tuesday, May 8 there will be a joint meeting between the Mono County Board of Supervisors and Mammoth Lakes Housing Board of Directors. Location TBA.

IV. Approval of Minutes from the Meeting of February 15, 2006
Minutes approved on 5-0 vote.

V. Status Report on All Projects
A. Meridian Court
Mammoth Lakes Housing is actively showing the last remaining unit to those on the waitlist that qualify for a three bedroom unit. Due to the condition unit I-202 was left in by previous tenants; the unit was extensively cleaned and the stove was replaced. Cost of cleaning and repairs to date total $2000.00.

B. Callahan 4B
Board motioned to approve the use of additional HBA funds with the condition that MLH staff must be involved in the showings and have access to the units if those units were to receive additional funds. Motion passed 5-0

C. Aspen Village
Mr. Maldonado demanded payment from Mr. Roope of Pacific West Communities, and received partial payment today. Board discussed possible structures of the repayment of the remaining balance due to MLH. The Board is willing to phase payments to MLH as long as Neubauer – Jennison are paid in full first and in a timely manner. If necessary Mark can give Mr. Roope more time to pay but interest will accrue on the balance. Aspen Village Apartments’ cost certification for TCAC (draft review) will probably be released next week.

D. Aspen Condos
Discussion of redesigning from a modular design to an on site stick built structure.

E. Jeffreys
This project is ahead of schedule and Mammoth Lakes Housing is working well with Town staff.

F. Manzanita
 Neubauer – Jennison is the General Contractor on this project.

 We have submitted for permits.

G. Tavern Road
The project has a use permit with conditions approved at the Planning Commission’s February 14 meeting. The CDLAC application was sent out today. After much staff discussion of an MHP application, staff decided to apply for roughly $2.4 million. Thee was discussion of the very low rent structure this project carries. Mr. Maldonado is negotiating with an interested commercial developer on the purchase of the commercial space.

Motion to approve the Resolution for Mammoth Lakes Housing to be the applicant on the MHP application. Motion passed by 5-0 vote.

Discussion of temporary parking structure site is taking place at the Town.

Closed Session

IX. Discussion of negotiations with Mammoth Community Water District

X. Discussion of Aspen Village

XI. Discussion of 4B agreement negotiations

No actions taken during closed session.

VI. Adjourn