Board of Directors Meeting

Tuesday, November 13, 2007
6:00 p.m.

Mammoth Lakes Housing Conference Room
587 Old Mammoth Rd.


I. Call to Order

II. Roll Call
Members: Mark Carney, Rusty Gregory, Kirk Stapp, and Rob Clark
Staff: Pam Hennarty, Jennifer Halferty, and Kent Andersen
Press: Lara Kirkner and Ted Carleton
Public: Phil Benefiel and Rich McAteer
Other: Allegra Stevens

III. Public Comments
Phil Benefiel, Snowcreek IV homeowner, discussed the potential for snow management issues at Aspen Village Phase II. He requested that MLH ensure that the contractors responsible for snow removal follow the snow management plan. Phil also stated that he will be attending the next Planning Commission and Town Council meetings as he is concerned about the visual aesthetics of the concrete garage walls at Aspen Village Phase II.

IV. Approval of Minutes from the October 15, 2007 BOD Meeting.
Minutes were approved as presented by a 3-0 vote.

V. Review of Fiscal Year 06-07 Fourth Quarter Financial Statements and Annual Audit.
Allegra Stevens presented the draft fourth quarter financial statements and the draft annual audit. She stated that the auditor, Rich Artis, said the results of the audit were that it was an unqualified audit, considered to be the best type of audit. MLH is fiscally in compliance with all of the grants and overall the audit went very well. Allegra summarized Rich Artis’s statement regarding the previous Executive Director stating that the internal control was not compromised and MLH took swift action with no negative impact on the audit.

Rusty Gregory requested a project budget before the next Board of Director’s meeting.

VI. Review of Fiscal Year 07-08 Draft First Quarter Financial Statements.
Allegra Stevens also presented the draft first quarter financial statements. In grants, $140,000 is a pass through grant to IMACA for rehabilitating the Glass Mountain Apartments. Allegra stated that spending is well contained. Rob Clark asked to see projects and programs separated on ordinary income/expense statement. Allegra suggest moving programs (homebuyer assistance) from income sheet to the balance sheet.

VII. Policy Discussion Regarding Appreciation Sharing Program.
Historical data on the homebuyers assistance funds disbursed was requested by Rusty.
A motion was made to adopt option one of the appreciation sharing program; it was then seconded and passed by a 4-0 vote.

VIII. Employer Outreach Program Presentation.
A number of suggestions were given by the Board in order to develop an effective outreach presentation. The Board asked that focus group presentations be performed to Mammoth Mountain staff, Mammoth Area of Governments (MAG), etc. The Board also requested the presentation be developed in Spanish as well.

IX. Policy Discussion Regarding Value of an FTEE.
MLH will recommend to the Town of Mammoth Lakes $87,700 per FTEE for the current year. The Board would like staff to schedule workshops with the Planning Commission and Town Council to present this information.
Vote was deferred until next Board Meeting.

X. Discussion and Possible Adoption to Change in MLH Bylaws.
Mark Carney asked that before an application for the MLH Board is offered that the Board members are consulted.
A motion was made to adopt the change in the MLH Bylaws; it was then seconded and passed by a 4-0 vote.

XI. Project Review

a. Aspen Village Condos – Foundations up on all three buildings and moving along well.
b. Manzanita – Asphalt has been poured. Occupancy is anticipated by March 2008.
c. Jeffreys – 100% occupancy
d. San Joaquin Villas – Mark Carney asked to have San Joaquin Villas spotlighted at the next meeting.

Closed Session

XII. Pursuant to Government Code Section 54956.9, subdivision (a), the Board will hold a closed session to discuss pending litigation.

XIII. Pursuant to Government Code Section 24956.8, the Board will hold a closed session to discuss property negotiations- Hillside Mitigation Proposal.

XIV. Future Projects

The Board will reconvene from closed session and announce any actions taken therein which are required to be disclosed
No action taken.

XV. Adjourn