Housing Catalyst


Housing Catalyst Audit & Finance Committee - November 13, 2023

Hybrid meeting: IN-PERSON Housing Catalyst Mountain office / Zoom: https://us06web.zoom.us/j/82297601357?pwd=aTVhSlkxRXpnd2F4Ty9Sem8vajJyUT09

Monday, November 13 2023

3:30pm - 5:00pm MST

Julie Francis is inviting you to a scheduled Zoom meeting.

Topic: Housing Catalyst Audit & Finance Committee - November 13, 2023
Time: Nov 13, 2023 03:30 PM Mountain Time (US and Canada)

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Meeting ID: 822 9760 1357
Passcode: 086132
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Meeting ID: 822 9760 1357
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  1. Mindfulness Moment
    3:30 pm MST

    1-3 minute interval - bring focus to the meeting at hand.  Take opportunity to arrive into the space and do good work.

  2. Call to Order
    5 mins
    3:30 pm
  3. Approval of Minutes
    1. Reports
  4. Old Business
    3:35 pm

    No old business for this meeting.

    1. Q3 Financial Report
      5 mins
      Tonya Frammolino profile image
      3:35 pm

      No report.  More information will be given at meeting.

  5. New Business
    75 mins
    3:40 pm
    1. Insurance Annual Risk Report
      15 mins
      Tonya Frammolino profile image
      3:40 pm

      Overview of market data

    2. Guest Presentation: Joy Gander of Gander Consulting
      25 mins
      Joy Gander profile image
      3:55 pm

      Overview of Housing Catalyst insurance portfolio and 2024 renewal.

    3. 2155 Plum (Plum Place) - Additional Funding for Expanded Scope
      15 mins
      Tonya Frammolino profile image
      Julie Brewen profile image
      4:20 pm

      Discuss submittal to board asking for approval to deploy additional funds to cover added scope on the 2155 Plum project.  

      1. Overview of additional scope
        5 mins
        Carly Johansson profile image
        4:20 pm
    4. S&P Peer Reports
      15 mins
      Tonya Frammolino profile image
      4:35 pm

      Overview of peer data from S&P.

    5. Board Report - DRAFT
      5 mins
      4:50 pm

      Review and discuss report to Board and determine any changes before approval for submittal.

  6. Comments | Announcements
    1. HAI Group Low Loss Award 2023
  7. Next Meeting Date | Planning Calendar
    5 mins
    4:55 pm
    1. REGULAR MEETING - December 11, 2023 @ 3:30 pm
  8. Adjourn Meeting
  9. AFC Calendar
    1. Definitions & Terms

      Key terms and definitions.

Minutes Tab

Housing Catalyst
org logo

Housing Catalyst Audit & Finance Committee - November 13, 2023

Mon Nov 13, 2023 10:30 PM - 12:00 AM UTC



Present: Julie Brewen, Ann Green, Traci McGraw, Kristin Fritz, Jennifer Wagner, Lizette Mill, Carri Ratazzi, Carly Johansson, Tonya Frammolino, Julie Francis, Tara Gaffney

Remote: Michele Christensen, Samuel Seitz, Rachel Gaisford, Karen Dunbar, Eric Lea

Absent: Justin Corey


Remote: Joy Gander, Anj Gonzales

Mindfulness Moment

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

Call to Order

Committee Chair Jennifer Wagner called the meeting to order at 3:30 pm.

Approval of Minutes

Commissioner Lizette Mill moved to approve the minutes of the September 11, 2023 and October 9, 2023 meetings. Commissioner Eric Lea seconded and the motion was passed unanimously.


Q3 Financial Report

The Leadership Team used the Q3 reporting period to focus on forecasting Q4 instead of the Q3 financial report. The YTD Q4 financial report will be presented at the next quarter meeting in February 2024, as there is nothing of note in this quarter's report. 

New Business

Insurance Annual Risk Report

Ms. Frammolino presented an overview of Housing Catalyst's insurance program. She introduced risk consultant, Joy Gander of Gander Consulting Group, LLC, who has joined this meeting. Ms. Frammolino reviewed data from the National Leased Housing Association (NLHA), providing an overview of various data, including premium increases, top reasons for premium increases for 2022-23 renewals, and managing increased operating costs due to premiums.

Chief Executive Officer Julie Brewen provided a history of Housing Catalyst's evolution in obtaining insurance, noting that Housing Catalyst has used the services of the Housing Authority Insurance Group ( HAIG) for many years, but has outgrown their services. Ms. Gander was hired to handle the procurement process to find a new insurance broker.

Guest Presentation: Joy Gander of Gander Consulting

Ms. Gander introduced herself and her company. Her presentation is located in Boardable for reference.

Ms. Gander noted that she has been working with Housing Catalyst since 2020 and discussed portfolio changes over the past three years.

As a result of a Request for Proposal process, Lamb Insurance Services was selected as the new insurance broker firm.

A summary of this subject will be presented to the full Board at Thursday's meeting.

2155 West Plum (Plum Place) - Additional Funding for Expanded Scope

Chief Real Estate Officer Kristin Fritz noted that this is Housing Catalyst's last public housing property, which will be sold to Villages, Ltd. at the beginning of 2024. She described the funding issue for this property, noting that the scope of the work has expanded and now exceeds the amount previously estimated. She described the funding gap of approximately $300k and the resulting request to deploy funding from the Villages Ltd. reserves. It was noted that Villages, Ltd. has sufficient cash to cover this expense.

Commissioner Mill moved to present this to the full Board later this week. Committee member Karen Dunbar seconded, and the motion passed unanimously.

S&P Peer Reports

Ms. Frammolino provided an overview on S&P comparison peer data. The full presentation is located in Boardable for reference. 

She will provide a report on this at the December Board meeting.

Board Report - DRAFT

Ms. Frammolino reviewed the draft AFC Board report. She will add an update with 2155 West Plum information for the final report to the Board.

Comments | Announcements

HAI Group Low Loss Award 2023

Ms. Frammolino reported that Housing Catalyst received HAIG's Low Loss Award.

Next Meeting Date | Planning Calendar

REGULAR MEETING - December 11, 2023 @ 3:30 pm

Adjourn Meeting

Chair Wagner adjourned the meeting at 4:57 pm.



Name Attendance

Julie Brewen

Michele Christensen

Justin Corey

Karen Dunbar

Tonya Frammolino

Julie Francis

Kristin Fritz

Tara Gaffney

Rachel Gaisford

Ann Green

Carly Johansson

Eric Lea

Traci McGraw

Lizette Mill

Carri Ratazzi

Samuel Seitz

Jennifer Wagner

Guest Members

Name Attendance

Joy Gander

Anj Gonzales

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