MAMMOTH LAKES HOUSING, INC.
Board of Directors Meeting

Thursday, March 27, 2008
6:00 p.m.

Mammoth Lakes Housing Conference Room
587 Old Mammoth Rd.

Minutes

I. Call to Order

II. Roll Call
Members: Bill Taylor, Jim Smith for Rusty Gregory, Byng Hunt, Kirk Stapp, and Rob Clark
Staff: Pam Hennarty, Jennifer Halferty, and Kent Andersen
Press: Lara Kirkner

III. Public Comments
None.

IV. Motion to approve Jim Smith as Proxy for Rusty Gregory
Jim Smith accepted the invitation to serve as proxy for Rusty Gregory. Rob Clark motioned, Bill Taylor seconded, approved 5-0 vote.

V. Approval of Minutes from the March 6, 2008 BOD Meeting
Minutes were approved as presented. Rob Clark motioned, Bill Taylor seconded, Kirk Stapp and Byng Hung abstained, approved 3-0 vote

VI. Ritz Carlton In- Lieu Update
Bill Taylor disclosed that he has a contract with the Town on this issue. After a short discussion the Board did not find conflict with this due to the laws surrounding board members of non-profits. Pam Hennarty informed the Board that she will be attending the Advocates appeal and will speak in support of the in-lieu payment at the Town Council meeting on April 2nd. Talking points will include but are not limited to: the number of units already provided in the Town for 60% AMI and below; proximity to services and limited access to services if housing is provided on site; the ability for MLH to leverage funds and the proven track record of providing units; and the increased opportunity to provide a broad array of housing options.

VII. Consideration of a Resolution Authorizing Submission of Documentation to the California Department of Real Estate for the Aspen Village Subdivision
Board approved Resolution 2008-02 with the suggested changes. Byng Hunt motioned, Kirk Stapp seconded, approved 5-0 vote.

VIII. Agency Review

a. Aspen Village Condos – Continuing to progress well. Jennifer is working closely with Neubauer – Jennison in order to provide a quality product.
b. San Joaquin Villas – 16 units sold, two in escrow. Jennifer Halferty executed the first purchase agreement since the departure of Playground Sales Specialist Kerry Pelcher. Twenty two units remain with 17 of those units restricted to 150% AMI or higher. Policy does not allow selling to single person households in this development since there are only three and four bedroom units. Staff was given direction to open conversation with Intrawest regarding lowering the AMI restrictions of some units to possible spark sales.
c. Executive Director’s Report –
• Due to a special offering from Blue Cross, MLH’s Health insurance provider, staff now have a $25,000 life insurance policy available to them along with their health insurance.
• CDBG grant for purchase and rehabilitation of a three-plex is due to the Department of Housing and Community Development on April 3rd.
• The most recent outreach presentations were given to the Lion’s Club, Chamber of Commerce, as well as two general audience presentations.
• Pam and Jennifer attended one of the Permanent Funding Source Workshops being offered by HCD director Lynn Jacobs. While at this workshop in Riverside, Pam was able to share with Director Jacobs MLH’s disappointment with the lack of available funding from the TOD and Infill Grants for those in rural California.
• April 28th-30th Pam, Jennifer, and Kent will attend the annual Housing California conference in Sacramento.

Closed Session

IX. Pursuant to Government Code Section 24956.8, the Board will hold a closed session to discuss property negotiations-APN# 22-330-40.

ANNOUNCEMENT OF ACTION TAKEN IN CLOSED SESSION
No action taken in closed session.

X. Adjourn