Board of Directors Meeting

Monday, October 6, 2008
6:00 p.m.

Mammoth Lakes Housing Conference Room
587 Old Mammoth Rd.


I. Call to Order

II. Roll Call
Members: Bill Taylor, Byng Hunt, Jim Smith for Rusty Gregory, Kirk Stapp, Neil McCarroll, and Rob Clark
Staff: Pam Hennarty, Jennifer Halferty, and Kent Andersen
Public: Sandra Facincani and Emile Rummel

III. Public Comments
Pam Hennarty introduced Sandra Facincani as a potential MLH Board Member. Emile Rummel gave a short presentation on prefabricated steel panel construction.
Property negotiations was added as an urgency item in closed session. Kirk Stapp motioned, Byng Hunt seconded, approved 6-0.

IV. Approval of Minutes from the September 11, 2008 BOD Meeting.
Minutes were approved as presented. Byng Hunt motioned, Bill Taylor seconded, approved 6-0.

V. Discussion of Board of Directors Make-up- Discussion Only.
The Board will interview Sandra Facincani as a potential Board Member at 5:40 p.m. November 6th.

VI. Presentation of Fiscal Year 2007-2008 Final Audit.
Rich Artis has completed the audit and bound copies were given to the Board. Discussion on this item will be continued to the next Board Meeting.

VII. Review of Town of Mammoth Lakes Housing Element Update Process- Discussion Only.
On September 17th the Town Council approved the contract with EDAW as is including Task B. But according to Town Council Task B will not be finalized until after the joint session with the MLH Board. Pam and Town Staff have a conference call scheduled with EDAW on October 9th.

VIII. Discussion Regarding Joint Planning Commission and Upcoming Town Council Meetings.
Staff report not yet completed. Pam Hennarty and Ellen Clark are working on this and should be sent out to the Board by October 9th. The rest of the discussion was concerning Kirk Stapp’s memorandum, which he had amended. Suggestions were made in regards to the memorandum.

IX. Discussion of Revised Policies and Guidelines.
Jennifer Halferty presented the changes to the Board. Policies and Guidelines were approved with changes. Rob Clark motioned, Byng Hunt seconded, approved 6-0.

X. Review of Revised Resale Restriction.
Revised Resale Restriction was approved by the Board with the option to return later with changes if necessary. Bill Taylor motioned, Neil McCarrol seconded, approved 6-0.

XI. Update of Organizational Strategic Plan.
Discussion was held, but ultimately the Board considered it beneficial to wait until after the joint meeting with Town Council in order to gather more input. Further discussion on the Organization Strategic Plan will be held off until the next Board Meeting.
Jim Smith suggested that a matrix be created regarding the management objectives to be shown to the Board monthly indicating the progress on each of these items.

XII. Discussion of Seasonal Housing as Mitigation Tool.
Discussion was held with the following topics discussed: Seasonal housing will not be for sale, they will be rental with a high vacancy expected during the summer. Developer could pay the gap in income vs. operating cost = net operating lost. A policy question for the Town Council is whether it is the employer’s responsibility to fill the need or the Town’s.
Pam Hennarty, Bill Taylor, and Jim Smith will work on a proforma to see what the gap is in order to start talking about a solution.

XIII. Agency Review
a. Aspen Village Condos – Asphalt has been poured. Still hopeful for a Temporary Certificate of Occupancy in November. Staff will not conduct any showings until completion is near and staging is complete.
b. San Joaquin Villas – Joe Walsh has been reassigned to the Intrawest office in Mammoth Lakes. He spoke with Pam about potentially extending timeframes for sale of the units.
c. Executive Director’s Report – Jennifer and Pam attended the Sierra Business Council conference in which Pam presented on affordable housing and green building. MLH is applying for a new BEGIN grant for the Aspen Village Townhomes that will allow for up to 20% financing for individuals at or below 120% AMI. Staff is continuing to offer and present first time homebuyer education courses. Escrows have been opened for the two Meridian Court resales.


XIV. Pursuant to Government Code Section 54956.9, the Board will hold a closed session to discuss one case of threatened litigation.

XV. Pursuant to Government Code Section 54957, the Board will hold a closed session to discuss Executive Director Evaluation.

The Board will reconvene from closed session and announce any actions taken therein which are required to be disclosed

XVI. Adjourn