Housing Catalyst

Attendees

Committee Members: Jennifer Wagner-Chair, Lizette Mill

Call to Order

Committee Chair Jennifer Wagner called the meeting to order at 3:31 pm.

Mindfulness Moment

The group engaged in a Mindful Moment as the meeting was called to order.

Approval of July 10, 2023 Minutes

The Committee approved the minutes of the July 10, 2023 meeting. 

Q2 Financial Report

Quarterly meetings in person

Chief Financial Officer Tonya Frammolino noted that there has been a request for periodic in-person Audit & Finance Committee meetings. She recommends that this Committee meet in person quarterly in conjunction with the quarterly financial reporting. The Committee agreed and the meetings will be adjusted accordingly.

Agency Overview

Q2 - YTD Results

Development Department Overview

Manager of Real Estate Development Carly Johannson provided an overview of the Development Department for Quarter 2. She noted that developer fee collections for this quarter are on track.

Segment Detail

Voucher Programs Overview

Director of Rental Assistance Programs Traci McGraw provided an update on the voucher program, including a breakdown of current vouchers and utilization rates. There are no new vouchers in Quarter 2. 

Portfolio Overview

Senior Director of Asset Management Justin Corey provided an update on the low income housing tax credit (LIHTC) property financials, including a review of the respective Debt Service Coverage Ratio (DSCR) for each property. He presented updates on the non-LIHTC portfolio, which includes Villages LTD, Wellington and public housing.

New Business

AFC Checklist / Self-Evaluation

Ms. Frammolino reported that, as recommended in the Committee Charter, there was an annual review of the Committee Checklist. Ms. Frammolino met with Committee members Wagner and Mill to go through and provide responses to the Checklist. The Committee accepted the Checklist responses as presented. The Checklist with responses is included in Boardable for reference.

Charter Review

As the Committee Charter is only a year old, the Committee agreed that there are no edits needed at this time.

General overview of Charter provisions - Presentation

Ms. Frammolino provided an overview of some of the annual requirements of the Charter, including a review of the Charter, and a Committee self-assessment.

Oak 140 - Annual Questionnaire due 9/15

Ms. Frammolino reported that we issued publicly-traded agency revenue bonds for Oak 140.  She explained the annual compliance process to certify that there have been no issues  in the past year, is currently in process. This will be submitted to UMB, the trustee of the bonds according to the timing deadline of 2 weeks before 9/30 EMMA reporting requirement.  

Board Report Draft

Ms. Frammolino reviewed the draft Board report, which will be presented to the Board at its next meeting. She will make minor revisions per committee request and finalize for the Board meeting.

Adjourn Meeting

Chair Wagner adjourned the meeting at 4:47 pm.

RESOURCES

Next Meeting Date

September 11, 2023 @ 3:30 pm - Regular Meeting

Planning Calendar