HomeMy WebLinkAbout2016-01-27 CHA Special Mtg Caldivell Dousing Authority
January 27,2016 Special Meeting Minutes
At Sunrise Cafe
Board Members Present: Patricia Benedict,Jing Porter, Marisela Pesina, Rob Hopper and Sid
Freeman
Staff Members Present: Mike Dittenher and Ruben Buenrostro
In Order of Business:
1. Roll call and tali to order:
Patricia Benedict called the meeting to order at 6:30am.
2. Construction and Construction Funding Considerations:
Mike provided a revised loan and construction schedule to the Board. He explained the best way
to proceed with construction on a limited budget, was to build both houses to a certain point and
then stop construction one property while continuing the other through to completion. CHA
would use the proceeds from the sale of one house to complete the construction of the other.
Cl IA would use the$95,000 it currently has in the development account and a $50,000 line of
credit from Sunwest bank to facilitate construction.
Mike inibrnned the Hoard he reached out to the Urban Renewal Agency but did not get a
definitive answer. Rob Hopper, City Council Liaison and Chair of the URA was at the meeting
and suggested our proposal to use URA money would not be received well because this request
was not in the URA budget,
After some discussion, Sid Freeman made a motion to approve the lending options and requiring
a loan commitment fbr$50,000 from Sunwest bank before authorizing construction, and upon
approved by Patricia Benedict, seconded by Marisela Pesina and unanimously approved by the
board al 7:15ant,
3. Adjournment:
Meeting adjourned at 7:25am. 1ousing4r'f
Certified: a,� �o
f.
1946
�4* ......................................
lesldent, Board of Directors EAccutive Director
d
$fdwell,til b