Board of Directors Meeting

Monday, September 17, 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, and Rick Wood
Members absent: Larry Johnston
Staff present: Jennifer Halferty, Pam Hennarty
Public: Byng Hunt

III. Public Comments
No public comments.

IV. Discussion with Nancy Mahannah regarding No Smoking Policy – To take place at 6:45
Pam spoke with MLH’s LLC partner on the tax credit developments regarding possibly adopting a smoke free policy. They are comfortable with such a move and have other properties with smoke-free policies in place. Their only concern would be if it should get in the way of leasing units. After board discussion the board requested that more information be gathered on current MLH tenants, MLH waitlist and more on the implementation of such a policy.

V. Approval of Minutes from the August 6, 2012 BOD Meeting
A motion was made to approve the August 6, 2012 minutes as presented by Rick Wood, Kirk Stapp second the motion with Dave Wilbrecht abstaining for a final 3-0 vote in favor.

VI. Acceptance of Letter of Resignation from Rusty Gregory
Dave motioned to accept Rusty Gregory’s letter of resignation from the Mammoth Lakes Housing Board of Directors. Rick second the motion with all in favor for a 4-0 vote.

VII. Discussion Regarding the Kitzbuhel Deed Restriction
Intrawest is marketing the Kitzbuhel and as such has an interested buyer. Now the deed restriction is being drafted by Intrawest’s legal counsel with Town and MLH review. There is a request for Town Council to decide, at their regular meeting this week, whether to permit an out-clause should the owner default on their financing. Such a clause is customary with for-sale restricted properties though not on inclusionary rental property. MLH has multiple long-term rental agreements with no out clauses. They, in-fact, run with the land for decades. Bill Taylor motioned to request that there be no out-clause placed in the Kitzbuhel Deed Restriction. Rick Wood seconds the motion with a final 4-0 vote.

VIII. Board Member Reports
Rick and Dave briefed the Board on the status of the Town’s Federal Bankruptcy. All negotiations are confidential and nothing can be shared at this time.

IX. MLH Monthly Status Report
Monthly Status Report was distributed.

X. Pursuant to Government Code Section 54957.6, the Board will hold a closed session to discuss contract negotiations.
No action was taken.

XI. Adjourn