Board of Directors Meeting

Monday, March 6, 2006
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
Members Present: Mark Carney (via phone), Rusty Gregory, Byng Hunt, Kirk Stapp, and Rob Clark
Others Present: Lara Kirkner, Mammoth Times; Ted Carlton, The Sheet

III. Public Comments
No Public Comments

IV. Approval of Minutes from the Meeting of February 13, 2006
Minutes approved as presented by a 5-0 vote.

V. Approval of an Amendment to MLH By-Laws Article VI Section 4 Regarding Transfer of Membership
Amendment approved by 5-0 vote.

VI. Review and Approval of a Resolution Authorizing the Executive Director to Execute Documents and Agreements on Behalf of MLH in Regard to Issuance of Additional Bonds for Mammoth Lakes Family Apartments
Additional bonds for the Aspen Village Project are required to meet the California Debt Limit Allocation Committee’s requirement that multi-family developments be funded 50% by bonds. Resolution 06-01 passed by a vote of 5-0.

VII. Review and Approval of a Site Substitution for 14 Workforce Housing Rental Units Planned and Financed for 540 Old Mammoth Rd
Due to design issues on this project and the State’s construction deadline surrounding the grant funding of this project it is recommend by staff that this project be relocated to the Manzanita lot. The State has indicated at this point they don’t see any reason to refuse the move site request.

VIII. Discussion and Possible Action Regarding Development of a 31-unit Workforce Housing Project Financed for 105 Old Mammoth Rd
Considering a mixed-use development with about 6,000 – 8,000 square feet of commercial front, affordable housing and parking structure. No action taken.

IX. Discussion and Possible Action Regarding Use of Housing Mitigation Funds received from Mammoth 8050
No action taken.

X. Adjourn