Board of Directors Meeting

Monday, May 7, 2012
6:00 p.m.

Mammoth Lakes Housing Conference Room
587 Old Mammoth Rd.


I. Call to Order

II. Roll Call
Members present: Bill Taylor, Dave Wilbrecht, Kirk Stapp, Larry Johnston, Rick Wood
Members absent: Jim Smith for Rusty Gregory
Staff present: Jennifer Halferty, Pam Hennarty

III. Public Comments
No public comments.

IV. Approval of Minutes from the April 2, 2012 BOD Meeting
Bill Taylor motioned to approve minutes as presented, Dave Wilbrecht second with all in favor for a 5-0 vote.

V. Approval of Resolution Authorizing the Purchase of Deed Restricted San Joaquin Villas Unit
Dave motioned to approve Resolution 12-01, authorizing Sierra Housing Advocates, LLC to execute a real property purchase agreement and other documents with regard to the purchase of real property located at 61 Callahan Way Unit G-1, Mammoth Lakes, California. Bill second the motion with a final vote of 5-0.

VI. Follow-Up on Limited Liability Charging Order
Review and discussion of MLH legal council’s response to the Board’s question on Sierra Housing Advocates’ charge order status.

VII. Review of Draft Budget for Fiscal Year 2012-2013
The draft budget will return to next month’s agenda for final approval.

VIII. Review of Third Quarter 2011-2012 Financial Statements
Financial statements were reviewed and discussed.

IX. Board Member Reports
o Dave reported on the meditation process and Council meeting to discuss the restructuring of the Town.
o Larry Johnston reported that the County is working with the dog sled operator to make improvements to the old sheriff sub-station using housing in-lieu fees. The improvements would include retrofitting the site to an apartment.

X. MLH Monthly Status Report
Report was distributed and discussed. Some highlights include:
o Advertising ownership and rental opportunities is bringing in a wealth of new applicants and inquiries.
o Managing deed restrictions; re-sale, re-finance, and purchase of SJV unit.
o Third quarter grant reporting
o Monitoring multi-family complexes in the case of the Town’s CDBG application being funded
o Working with Town on 2012/13 contract


XI. Pursuant to Government Code Section 54956.9, the Board will hold a closed session to discuss pending litigation.
Staff direction was given. No action taken.

XII. Adjourn