MAMMOTH LAKES HOUSING, INC.
Board of Directors Meeting

Friday, May 9, 2014
6:00 p.m. 

Mammoth Lakes Housing Conference Room
587 Old Mammoth Rd. 

Minutes

I.    Call to Order

II.    Roll Call
Members Present:  Bill Taylor, Kirk Stapp, Larry Johnston, and Rick Wood
Members Absent: Dan Holler
Staff: Jennifer Halferty and Patricia Kent
Public: Lindsay Barksdale 

III.    Public Comments
Lindsay Barksdale introduced herself as an interested party in the open position on the Board of Directors. 

IV.    Approval of Minutes from the April 7, 2014 BOD Meeting
Larry Johnston made a motion to approve the minutes. Kirk Stapp seconded the motion. Rick Wood and Bill Taylor abstained. The motion passed 2-0.

V.    Board Member Reports
Larry Johnston reported that the County should have the budget process complete by July 1. The Board of Supervisors is holding community budget meetings throughout the county. He reported that property values have seen a slight up-tick.

Kirk Stapp attended a County budget hearing. He expressed that he gave the Board of Supervisors some ideas and that overall he thought the process was going well.

Rick Wood explained that the Town’s budget shortfall will be less than originally anticipated. The new budget process is much more straightforward and easy to understand than past processes.

VI.    MLH Monthly Status Report
Jennifer Halferty reported that she presented information on the HOME first-time homebuyers program at the Inyo-Mono Title office in Bishop. Union Bank is also interested in holding a first-time homebuyer workshop.

She also explained that CalHome just released a NOFA for funding which MLH can apply for directly for first-time homebuyer funds, owner-occupied rehab, and funds for the purchase and/or rehab of mobile homes. The funds from this NOFA can be used in any of the jurisdictions where MLH currently operates programs. Jennifer Halferty will attend the NOFA training.

In addition, she updated the Board regarding interest in developing the Shady Rest Tract.

VII.    Discussion and Approval of the Amended and Restated MLH Bylaws and Amendment of MLH Article of Incorporation
There were a few comments on the Bylaws and Articles. Rick Wood made a motion to adopt the Bylaws and Articles with minor corrections. Kirk Stapp seconded. The motion passed 4-0.

VIII.    Nomination and Potential Appointment of New Board of Director Member(s)
Rick Wood nominated Lindsay Barksdale and Tom Mazaitis as new members of the Board of Directors and motioned to elect. Bill Taylor seconded the motion. The motion passed 4-0.

IX.    Review of Third Quarter Financials for Mammoth Lakes Housing and Sierra Housing Advocate
There were no comments on the third quarter financials.

X.    Review and Possible Adoption of the Mammoth Lakes Housing, Inc. Draft 2014-2015 Fiscal Year Operating Budget
The Board asked to bring the draft budget back at the June meeting for possible adoption.

CLOSED SESSION

XI.    Pursuant to Government Code Section 54957, the Board will hold a closed session to discuss a Performance Evaluation, Title: Executive Director

Announcement of action taken during closed session.
No action was taken.

XII.    Adjourn