Housing Catalyst

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.

Reports

Q3 Financial 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.