LHA Advisory Board Meeting – May 18, 2021
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Unknown Speaker 0:00
It is now officially eight o’clock and it looks like we have anybody here. So let’s kick this off. We’ll call the meeting to order the Tuesday May 18. Meeting along with the housing advisory board. Olivia, would you do a roll call for us?
Unknown Speaker 0:17
Yes, this morning we have Cameron grant Tom to be Lauren Sally. Jean Christopher. Arlene zortman. You also have Harold Domingo’s Lisa gallon our Karen, Ronnie and Kathy fetlar.
Unknown Speaker 0:34
First, or next item on the agenda is the approval for the minutes of the April 20 meeting, which I’ve reviewed, but simply was not at the meeting. I just want to see if anyone else has any comments, questions or modifications to the April 20 minutes. Gene? Yeah, I move to approve them. Second, motion in a second. All in favor? say Aye. It is approved. The next item on our agenda is public invited to be heard. Olivia, do we have anyone from the public who’d like to speak to them? We do not. Alright, so we will move on to new and old business. item four a which is a discussion on the retreat agenda regarding the Longmont Housing Authority. And there is some information in your packet about this and quite a bit in a minute that was helpful. Since I missed the meeting. You did way to catch up. I’m assuming someone is going to lead this discussion is not me. Abby unit’s Canvas,
Unknown Speaker 1:51
or do you want to outline the retreat in general, and then I can go into some of the data. Yeah.
Unknown Speaker 1:58
Um, so if you can see the council draft retreat agenda, the part that so from nine to 1030, they wanted to have an equity discussion, that’s really for the City Council to be, it’s more for them. There’s still some debate on that particular piece, because I think want someone to spend more time on this than others. And so we’re not sure what’s going to happen. But you all don’t necessarily need to be there for that piece. And then once 1030 hits, the rest is the housing piece, the housing conversation of the council was very explicit and wanting you all there to be part of that conversation. And you can see that part of it for us is going to be a grounding on what we do with all the city council members, some have a more detailed understanding and others. And then we move into really some of the points in setting some, some goals for ourselves and really tangible goals that we can measure our performance against on an annual basis. And you can see when we’re talking about vouchers, development goals, partnership goals, different opportunities that are on the horizon, and what that means. And then getting into some of our operational goals. Then we continue from 1230 to two. And then at around two o’clock, you all should be finished. And they wanted to spend some time talking about sugarmill, you may want to stay for that conversation, because I think there may potentially be an integration with affordable housing in that conversation. But I’ll leave that up to you. And and the City Council on this. So this is really devoted to what we’ve been doing over the last year. And I’ll let Kathy go over some of the data and then we’ll work through some of the questions.
Unknown Speaker 4:05
Hey, Harold, this do you want to let them know what the new date is?
Unknown Speaker 4:09
Oh, it’s July 9. I thought that was on July 9, we had some trouble getting all the council together.
Unknown Speaker 4:25
Okay. I’m assuming this is not going to be on zoom. This is going to be no,
Unknown Speaker 4:32
no. It’ll be in person. Depending on the masking rules, although we got some clarity. Well, yeah, new rules that give us a sense of what it’s going to be like we don’t have clarity necessarily on what it really is gonna look like but by then we should all be unmasked and so on and so forth. So they were looking at a location outside Until we were evaluating that if mask were required inside, but it looks like we’ll be clear wherever we get to. So I think now we’ve made shift to look at museum or some other locations, but we’ll let you know. And there’s a chance that our next meeting Well, I’m pretty sure, based on what I’ve heard, I just need to see the details of our next meeting, it’s highly likely that we don’t have to do a PSA for this group. But we’ll let you know.
Unknown Speaker 5:43
Any questions about what’s held reviewed thus far before we go into the data with Kathy? All right, Kathy, why don’t you take it away?
Unknown Speaker 5:59
All right. So I did provide you a lot of data, kind of a data dump. And my understanding is that probably in order to prepare for what the llj advisory board would like to share around development goals and goals of the housing authority, from your perspective, that next month’s meeting will probably be spending more time on this to refine some of that. But what I had handed out to you or gave to you was the most recent housing market analysis and needs assessment from the Consolidated Plan. This was prepared in late 2019 into 2020. So a lot of the data is still 2018 data, because that was the best data that was available at the time through ACS, etc. So by the time you prepare for this, it’s a lot of times the information is somewhat stale, but not too terribly, too terribly bad. The first section of the housing needs assessment is a comparison of the consortium as a total comparing all the communities in the consortium, and then there’s individual sections towards the back with Longmont starting on page 48. But just some of the little highlights that are in the first part of it. On figure one, which is on page three, the cost burden and severe cost burdened by tenure, Longmont is showing the highest percent of cost burden. But only this second highest in actual numbers, because of the population is smaller in Longmont than in the other other communities. Same thing for owners, we have fairly well, we’re all pretty close in cost burden for homeowners across the region. But again, ours is a fairly small number of those. page five is a good comparison of the HUD income categories from 2015 to 2020. So that’s an interesting thing to look at. I will add that the HUD income categories are kept lower in high cost areas like this, because it doesn’t allow for the think it’s the 50% area median income figure to be higher than the national 80% income figure. So we are kept somewhat in our 30% and 50%. So you’ll see less of a change or an increase over those five years in the extremely low in the low income categories versus the just the low income category.
Unknown Speaker 9:04
Guys before question about this. Just try to try to keep up. So the HUD income categories. Are those the same as or how do they relate to what we talked about? With inclusionary housing such with area, same income?
Unknown Speaker 9:20
Yeah, we use the same across all of our programs so that we’re not having multiple income calculation figures and qualification figures so people are confused. We’ve talked several times at council at least a couple times in the 26 years that I’ve been here about maybe switching to a Longmont median income calculation figure. And it just it’s a lot of work to figure it out. It is then you have to explain and then you have to explain to HUD why you’re not following their and configures and it it’s kind of a mess. So we’ve always chosen to stick with the HUD bolter County. median income figures. So it is the same 30% 50% 80% used across all of our programs inclusionary housing everything. For simplicity, you’ll notice on figure three that incomes of renters have increased more than incomes of owners, which the consultants were saying is likely due to one of two, or due to two factors, increases in renters income, and an influx of renters with higher income into the consortium market. And that seems to be consistent across the consortium. So that seems to make some sense as to why some VAT is increased so much more.
Unknown Speaker 10:43
On into that point, to give you a real tangible example, I was talking to the owner of 150 main, just down the road here, I think they’re over 90%, they’re over 90, let’s say 2%, occupied. Um, if you look at that, during the time that they opened it up in in daring COVID, we’re still in it, and how people were coming into it, I think we’re seeing something very similar at the new rental units on county line and 17. So a lot of these in the end, I want to kind of go, I wanted to talk about this specifically, if you remember, or you may not remember, we presented to council earlier on, we talked about what we have in terms of rental housing within our community. And what was it about five years ago, four years ago, and they talked about, we didn’t have a sufficient stock in these upper end apartments. And what we, what we’re seeing is a lot of those that come online, and we’ve been filled very quickly, which is also pulling some of the pressure off of those lower price apartments, but they’re feeling just as quickly too.
Unknown Speaker 12:01
And I think that’s another reason why our latest project, we’re looking at doing income averaging, which will include a higher level of income, which allows us to do lower income at less of a subsidy, because some of the higher incomes are helping to subsidize that so it takes less investment initially. And it’s a good idea just to have a range of incomes in an apartment complex, it seems like there’s data on page six, that’s comparing the different races and the incomes median incomes that across different different ethnicities. And then some information on the households and how they stack up against the community stack up against each other in the different income categories. on page seven, which is kind of interesting. On the rental market, you’ll notice that the Longmont had in the median rent income from 2013 to 2018, the our line looks a lot higher. In comparison to the others, we’re still the lowest cost community in in the consortium area and had a 25 or 27%. Five Year change. With a 5% annual change. Everybody’s saying it about the same place with their vacancy rates. vacancy rates have been pretty phenomenal or fulfillment rates, however you want to flip it have been pretty phenomenal. For over the since the recession basically. The other thing I wanted to point out was on page 13, there’s a chart showing average rent and income required to afford the average rent by the different rental markets. And at the time 1418 was our average rent and income required to afford that’s about 56,000 not quite 57,000. If you go back to the chart, and that was on page five that showed the the differences in the in extremely low, very low and low income categories. to afford that that rent at 50 671 person, a single family household would have to be at the 80% area median income, actually a little bit above it to afford that that rent and a four person family would be at about 50% of area median income. So it’s kind of interesting. See how that how folks fall when looking
Unknown Speaker 14:56
at the median rents
Unknown Speaker 14:59
here thing I want to point out on page 15 is that Longmont had the highest percent of five year change in ownership home values was 64%, five year change or a 10% annual change, averaging the 10% annual change is about equal with everyone else, but we had a little bit higher, overall five year change, but still, in the more affordable for the consortium. I also want to point out that this is looking at
Unknown Speaker 15:44
doesn’t say, Oh, this guy rage or not, I was gonna say, we we are consistently in the $500,000 average now, for the past several months, in Longmont and median is consistently in the upper fours for single family home ownership.
Unknown Speaker 16:06
Yeah, Kathy, if I can jump in on this, this was 2013 to 2018. And what we’re seeing now? Well, that’s how what we’re seeing now is to the point we’re in the fives, and when the median is in the upper fours, and getting that close to the average, what you’re seeing is that market just drastically shift. And what what’s also now starting to happen to is, when you look at what we have in the price points for new home construction, and then the fact of what we’re seeing just in the market in the commodity side, that’s continuing to push, which I think is also creating the need for housing stock, and driving that price up. So you have different factors in play. That’s really starting to impact this conversation. Cameron was on the LDP meeting, and we had a really good presentation about what’s happening today. And it is not, I guess, Cameron, would it be fair to say that it is more common than not that people are getting over asking price and significantly over asking price. And people are doing some very creative things in terms of home ownership, I think I heard the story of roundtrip tickets anywhere in the world. They’re coming in it getting inspections now or is like completely, I think uncommon. And it we truly are in in a seller’s market. So these price points are just flying in that other direction.
Unknown Speaker 17:56
Yeah, I think that’s spot on held. And as I was looking through this earlier, I was thinking it might be helpful for this group to see a copy of that presentation. Because even though even though my day job is in this world to a degree, it was startling to see it put down on paper and in numbers and you hear some anecdotal stories that are a little bit shocking about how deals are happening right now. And the challenge of of people who want to or need to find a home right now and just how difficult it is. Even for people with significant resources can’t find it on I can’t imagine how much more challenging it is if you’re if your resources are limited. with Melanie Benson who did that presentation, we’ll see if she can share that with this group. Got
Unknown Speaker 18:50
it here. I’ll share it, I’ll share it. I’ll send it to Olivia and she can share that with the board. Sorry, can any other highlights in this we had to talk about getting
Unknown Speaker 19:17
Um, so I was just going to point out on page 17. There’s some interesting information about options for buying an affordable home across the region and the number of units that are available which are very, very few as we were just talking about. So in the different price ranges. So and then, like I said, Longmont data specific data starts on page 48 I think it is. So that’s something to take a look on and focus on more closely. So then I did include a chart on all of the Affordable deed restricted rental properties in Longmont, it’s a fairly big list, there’s about 2100 or so different affordable rentals, just to highlight some of the items on the chart that show that are colored in an orangish figure, or those that either have gone out of their period of affordability, or could go out of their period affordability in the next several years. So we are likely to have to replace some of those units, if they would convert, we have found kind of counter intuitively, I guess, that some of the developments that could go out of affordability, have not been doing that, specifically, if they were more HUD funded or had larger subsidies originally, that they have not they’ve either been renewing on an annual basis for the section eight program, or they have re syndicated kind of like we did with Aspen Meadows apartments. So that’s been kind of interesting to watch the ones that have gone out. And I don’t think I included our loss of units. Today, yeah, the developments that that have gone out of affordability have really been ones that we have locally had funding in or subsidized. So once that just received fee waivers, they were under the inclusionary housing program, the first one and receive fee waivers. So that was really our only deed restriction. Hold on them. And all of those have have moved out. So hoever manner, as you remember, they they converted that was one that was section eight, and they converted and went out of it. So that’s that’s kind of the anomaly on that one. But the shores
Unknown Speaker 22:09
Unknown Speaker 22:13
legacy apartments, those two were under the inclusionary housing program. At the beginning, they had fee waivers when the fee waiver time period ran out, they opted out. And then the lhsaa had some scattered site homes that were public housing units that they sold when HUD released those and were allowed to get out and they use that those funds to reinvest in other properties that are affordable. Same thing with the Cherry Street apartments. That became because of the location more the the value had increased so much that converting those selling those converting them to market or whoever, whatever the buyer wanted to do with those and reinvesting those funds, help them to way more units at an affordable rate. So we’ve been tracking tracking that as well. There’s a page that shows some of the limited special purpose housing developments like the in between where you have to be referred in there not just open to the market. That’s why those are pulled out separately. In some of the shelter beds on those. There’s a chart that shows the deed restricted rental units by the different ami that they’re serving. One that shows the difference of senior and versus family and individuals. And then when that shows by ownership, Lh a bcha to sell and then the private corporation so um, and then there’s a chart, if it’s very colorful, we call it the rainbow chart or the spectrum that kind of puts into perspective, all of the different housing developers and affordable housing owners in Longmont and how they kind of all fit together in a continuum from emergency housing housing, first sheltering the homeless, through rental housing into homeownership housing. So it kind of shows the whole gamut of how everybody kind of works together and how you can kind of step up from you know, being homeless all the way up into homeownership if your income continues to increase, and how the different developers are serving different areas of the the Longmont community. I think the other thing it really shows is that there is a place for everyone and everyone’s kind of operating in their niche. There’s not a lot of duplication of services, or butting heads kind of thing, trying to go after the same property or the same income category necessarily that everyone’s kind of swimming in their lane. serving their segment of the population and most areas of the population between zero and 80% are are being served in one fashion or another in Longmont and through throughout Boulder County. Really? I don’t know if anyone has any questions about that in particular. But I’ve always found that really interesting kind of a chart. Um, go ahead. Was there something?
Unknown Speaker 25:38
I had a quick question? First, I thought the birth chart was very, very helpful. I had never seen anything presented like that showing, like the spectrum. Because it, it always seemed to me like you, either. You were affordable housing or you weren’t? It sounds like it wasn’t a step up. So that’s really great. One question I did have is, are there any privately held developments or anything that we have, or the city or ellijay has an option to purchase? And put into our housing stock? Like a right of first refusal or something?
Unknown Speaker 26:14
Well, the only thing that the llj has, that I’m aware of is the christmann development. So christmann one, which is existing and right behind Sonic, the lhsaa will take over and actually own and manage in 2028. Right, Harold, I think it was March of 2028. Under our new agreement.
Unknown Speaker 26:38
I lost my mouse. Um, yeah. So we are in the process of renegotiating that agreement based on Crispin to in the development of that project. And so in the 2027, first quarter of 2028, I think is when we have the the ability to own that facility. And we do have the ability in this negotiation to begin managing the facility earlier, once they reach stabilization under their qualifications, that’ll be based on our ability to manage it, and just the world at that time. But I think it’s in the 2027, beginning 2028. If that’s the only one that I’m aware of that we have that option.
Unknown Speaker 27:29
I think that’s something that we probably should take a look at the Housing Authority, if they’re going to partner in developments, that that is something that at a minimum, we should have the first right of refusal. If it ever sells and I we were talking to element about that as well, because we were less of a partner in that one that were then what we’re talking about with Chrisman. But that that probably should be a negotiating point for us to do you know, take a property off the tax rolls or do any kind of any kind of subsidies at all. For that going forward. Oh, go ahead.
Unknown Speaker 28:09
I was gonna say I agree that should almost be like a mandatory, if you want our help, you know, give us this option. We might not exercise. It depends on the market and everything at the time. But I think bcha has started doing that several years ago, which is where I learned about that. So it’s good to know that we at least have one option. And that I like that we’re looking at doing that in the future.
Unknown Speaker 28:33
Yeah, we really took I guess we took that approach on this one based on what we’re going to do once we get clarity as to whether or not it’s going in the 4% non competitive round on the tax credits, and once we get clarity on what that means we will we will come back to you all to vote on a recommendation that we have to take the council in terms of support, but it really is how we were coming in supporting both financially financially via our private activity bonds and these other components to then say if we’re putting this in, here’s what we’re getting out. We’ve also in it adjusted the revenue coming out of Christmas one in that deal that comes back to the Housing Authority. So we shifted from a 50 allocation to 7525. Kathy and so that is actually going to generate an additional $200,000 over the next six years to the to the Housing Authority. So for example, we will also pull in a total amount is 600,000 and change of cash coming into the housing authority. right to own right to manage To do exactly what you just said more, and I think that needs to just be a foundation, when we come in with any kind of financial assistance that we take into place. And so then theoretically at the end of by 2028, we will own and operate a prop a property. If you net what we’re getting out of it was what we’re putting into it for probably less than a million dollars.
Unknown Speaker 30:31
And I’m doing a lot of rounding with the numbers right now, the details to you. But that’s a pretty good deal. I mean to say in seven years, you’re going to own a property that will have over 180 83
Unknown Speaker 30:42
for Chrisman 214 for christmann. One.
Unknown Speaker 30:51
So for over two or 200 unit complex, we will own for less than a million dollars or when you net everything out. That’s pretty good deal, I
Unknown Speaker 31:01
think. Probably one of the better ones we’ve ever entered into. So the other data sets that I included, were just a summary of the section eight voucher data or the Housing Choice vouchers over the years, we’re missing a couple of years of data 20 1819 and 20. We’ll continue to search for that if we can get it and plug it in here. But the graph that shows the comparison of the budget authority to the number of vouchers is pretty telling over this last several years. Some of it is a adjustment if you don’t have everything leased up that your budget gets reduced a bit. So some of it is our own fault. And but some of it is definitely a result of the increase in costs and how much more subsidy you’re providing per family because per household because of the the higher hap cost that you’re paying the the portion that’s paid by the voucher. And there’s a chart that shows the different communities that are agencies that have vouchers in Longmont, we’re still trying to get Mental Health Partners information as well, I think they’re about the only other one that has significant vouchers that are probably placed in Longmont. I’ll check with Doa as well and see if there’s any other agencies that that they fund. But as you can see, there is a total of about 880 vouchers that are in Longmont, only about 50% of which are ours. The other half are really more than half our boulder housing partner vouchers that people have moved here and Boulder County Housing Authority the same thing. Um, so that was kind of interesting. This has have shift has shifted a little bit from the last time we found this information, which was way back in early 2000s. But not not a whole lot. The interesting thing I thought was that boulder housing partners has way more vouchers in the in the consortium area than the Boulder County housing authority does, which I was kind of surprised. So for them What the heck is this? It’s Oh, that’s good getting into the age receivables and everything. So that’s it the information that I have, I think with the information that Harold’s gonna have Olivia send out, I also have a chart that has tracked median sales prices and average sales prices from 2000 to current along with some other data around days on market and get with the other one is there’s four different factors that that it charts over a long period of time. So some of that information I may pull together as well for this discussion for council around homeownership. But really for the Housing Authority has been more focused on rental housing, which might be one of the first points of discussion the Housing Authority has never gotten into homeownership. It’s always been looking at rental and what what you think about that and I don’t know how we want to start having the discussion on goals, etc. for this meeting, if it’s too much information, you need time to think about it and really hit And at the June meeting, or however you want to go about the rest of the discussion around this topic.
Unknown Speaker 35:09
I have two questions. That presentation that you guys talked about Cameron? Did anyone bring up? Because I don’t know what data you guys were using and discussing in that meeting. But I’ve been hearing a lot about how building materials are skyrocketing. In fact, we need some work done to our house, and the guy actually told us, like, it’s gonna cost you four times as much because buying just one piece of wood, which used to be $4 is now $80. Was that part of the discussion with all the new bills that are happening? Because I imagine that’s going to trickle down and affect housing prices from developers?
Unknown Speaker 35:58
Yeah, that was definitely part of Harold’s kind of right there. Yeah, that’s crazy. So you add that to the market forces and the supply challenges in general, and it’s it’s kind of a perfect storm. Not in favor of affordable housing right now?
Unknown Speaker 36:16
Yeah, because this isn’t gonna affect us, even if we start building. That’s unfortunate. And
Unknown Speaker 36:26
I had to change it to unmute. So this is the lumber market. And what we’re seeing, I will tell you, we have a couple of construction projects that we’re looking at that also looks at the steel market. You know, steel, copper, everything that goes into the construction of any kind of project. To give you a sense of what we did, what is creating some of the the need versus systems on Chrisman is I think we put a cap, they put in that an escalation of what close to three quarters of a million dollars for contract pricing. I’m looking at building Well, we’re looking at building two fire stations. I had a meeting late last week, they said $2 million dollars over budget. To put it into perspective. early to mid last year, we were about 200,000 over a budget when the escalation started. So the so these commodity markets are shifting everything dramatically. And then as I’ve been doing the research on it, I’m depending on what you look at at least a year from now in terms of when they think this will start stabilizing. And there’s some industry experts that have written some articles that said, it probably won’t be until the end of 2020, to where that really stabilizes to what it was before. If you look at this chart doesn’t go back into it, they’re gonna send me some updated charts. And then we’ll present this once I get those because I didn’t have electronic copies. What we’re seeing today actually is mimicking what we saw in 2008, during the recession. So in 2008, there was a huge spicy spike in commodity markets, and then it went down. The difference in this is a couple of things. One, you saw sort of that preparation for a recession based on the pandemic. The challenge and this is, we also have issues where I’ve been able to produce the products because of having people in proximity to each other. So everything from literally cutting the trees to processing the trees to building the metal is now also impacted by some of the rules that exist and some of the other countries and other states. They’re hoping there may be some more domestic production coming in to help offset that a little bit. On the other side of it, then you have the shipping issues. And so one of the examples that’s coming out is a lot of times and the ports are the contractors that we’re looking at to build the fire station said timbers and metal products aren’t available. And in some cases, we know they’re on the ship, but we’re not sure when they’re going to get offloaded on the ship. So you have production, transportation, everything coming into bear that is causing this issue. What’s also concerning me on this is we have a lot of federal dollars about to come down. So you take the lack of product and then you take a lot of federal funds coming in for projects. And I think we just need to watch and see because who knows really how long this is going to exist. And I forgot my second question. So sorry. I forgot it before you started. Okay, mom brain. Polly, can we get to claim a senior moment there?
Unknown Speaker 40:27
So I do think Kathy, you bring up a very good point because ultimately the the only way that we can that most people can actually get out of having to be renters, which will keep you poor forever, is homeownership. And I do think that we need to get into homeownership working with say, habitat or other groups like that. And developers who do this, specifically, homeownership is spin, you know, fundamental to everything since the founding of this country. So I do think we need to be talking about that.
Unknown Speaker 41:15
I remembered, okay, thank you, Polly. Because he jogged my memory. I was gonna mention that, you know, bcha is, is in the entitlements phase of a new development out in Lafayette. And they are looking at getting into the homeownership realm, as well. And I was talking to one of the staff members the other day, and I asked how, you know, what are they looking at doing? And they said, they haven’t, you know, gotten too deep into it, but definitely looking at, like a simple type, deed restriction with a land lease, and then also selling to developers, who would then deed restrict kind of like the city of Boulder has, and then they would just manage the program. So I mean, I’m definitely interested in hearing more about that. And I think that is the direction we should go. But I also recognize it’s totally new for lhsaa. And I don’t know, if it would be done by the city or done by la j, what makes the most sense. But yeah, I definitely think we should increase like Polly said, increase the stock of affordable housing, for home ownership. Because Yeah, renting is just giving your money away to make someone else rich, usually.
Unknown Speaker 42:38
Another model is what the City of London does, and also, to an extent, his city of Boulder has done numerous other cities, whereby the city builds the land, and then people in the rent are buying it back from them that used to be called rent to own well, but that’s a way that people can get into it, even though they don’t technically have the downpayment and all that stuff. We don’t want to get into a situation, which is what caused the giant meltdown in 2008, which all kinds of people are being urged to buy a house that they can’t then afford to actually buy because their income isn’t sufficient to maintain it. But when you do a rent to own thing, you’re buying it back over time with your rent on like regular rent where you’re just buying the house for the other guy.
Unknown Speaker 43:42
Okay, thank you. Jean. Yeah. I, I am totally in agreement with moving into the homeownership market, especially in helping people who are in affordable housing Now move forward for several years, and I think Kathy, you’re familiar with this. And Polly in the neighborhood, there was the rice program, specifically designed to teach families how to manage their money. And it was a whole umbrella of information to to help them get their lives together and move forward. There were initially nine families involved in that. Two of them, bought their own homes and moved out and I would like to see not only our effort, financially in building but Also that supportive system that helps people understand what it takes to do this, because a lot of them never got exposed to. So this, this would be our opportunity to do that to add the soft service along with the hard work.
Unknown Speaker 45:19
Unknown Speaker 45:20
just throwing this out as a devil’s advocate kind of thing, might it make more sense for the lhsaa to focus on on that aspect of it and getting some of our higher income renters ready to move into homeownership? Cuz I know that I remember Michaels saying, at one point, that people really had to be shown that they could make that next step because they, you know, they had had risen up through the ranks. So they had almost no pap whatsoever, and it was almost all tenant paid, and to be shown that they could afford a mortgage with Habitat or whatever, and that it was a good conduit, if we had that pipeline going, that folks could go into a habitat home, and then maybe eventually into a market home. Or there may be, it’s fairly unlikely, but maybe we can start to get some a pipeline ready for inclusionary housing homes, the blue VISTA homes that are, you know, affordable, it really 70% of area median income, is what they’re targeting right now. So doing some partnerships, perhaps as opposed to us, just think about it, maybe getting into a whole new market that we don’t understand and have to learn and, and all that stuff. So Oh,
Unknown Speaker 46:42
and to your point, Kathy, if the cost of building right now is is obviously extremely out of proportion, because of what we live through that maybe right now we develop a program like that. And that is supportive until we reach the point where it is worthwhile and, and profitable. For us as government, you know, what I’m saying? that it makes sense for us to build to put that money in, why pay 400,000 now, when in two or three years, it’ll be back down to 100,000. Do you understand what I’m saying? So I think that if we started that program, cuz we were talking about developing more family projects, a lot of Lh A’s are senior, but the family projects which the neighborhood asked from that neighborhood is took advantage of that. And I I am I like your idea of for right now let’s focus on teaching people how to do this, as opposed to investing money, which we know is three or four times what it could be. I
Unknown Speaker 48:06
think one of the things that idea, if I can jump in, I think one of the things we often also have to manage is we have money coming in, and our time limits with that money. So you can’t just necessarily sit on it either. And so it’s going to be how you wait, sorry, what you look at how you look at it, what are the timeframes on the money coming in from the federal government? Why can’t what you can do for the money in terms of developing those houses, because unfortunately, that’s kind of what we’re seeing is you have a lot of different pressures. So it’s not like you can necessarily wait. And to be frank, there, there is a significant concern that by the time you wait, sorry, I’m having allergy issues by the time you wait. You may have other inflationary pressures that actually minimize whatever it is that you’re gaining in this. And and then if you have a lot of folks waiting, they may actually prolong the price increases in this simply because the demand never goes away. And the supply doesn’t come in. What I wanted to share with you all something that we met with some folks yesterday and I’ll show you this, because this is I think where the creativity is gonna have to come in. So this is a group that we met with out of their Buena Vista. And they these are manufactured homes. And I’m gonna slide to this screen to give you a sense of and really this homeownership is really probably something that fits in our inclusionary housing world more than it fits in your world because we do focus on more of the rental piece. So If you kind of look at this Franklin here, which is a three bed, two bath, 1500 square foot home, and you can see, and they said their price points were up to date based on what they had a couple of days ago. 391,000 you can see more of the townhome product 294 240. I’m going to take the Franklin, I’m going to show you sort of the dollhouse view of this. So you go on. So you go, how can you build this type of house for the price points that they’re talking about? Well, the way they’re doing it, is they manufacture this entire unit, in a manufacture in a manufacturing facility, they put it on a truck, they come in and they drop it, they then take this unit, and they put it on a truck and they drop it. And and so then just to kind of give you a sense of what it looks like.
Unknown Speaker 51:11
This is all built out. And this is really a new product that if you look at it is similar to
Unknown Speaker 51:32
what you’re seeing in some of the smaller homes that we have in the blue VISTA area, I think it has that same look. This is all the code. But you can see they take some of these price points up into the five hundreds. But it is a is a different process of how you go through and homeownership. But what they’re doing is they’re catching the economies of scale and how they produce it. So they’re able to absorb some of the lumber costs and some of the commodity costs in a different way based on their production style. And so we
Unknown Speaker 52:10
did that with the one in Netherland. And they’re doing it with Kaufman too.
Unknown Speaker 52:17
And so this is this company, this development here. So this is to the point, this is really the first development of this style in the manufacturing. Sorry, I’m not sharing it, share it again, this is the first one in the state where they really done this, but you can get a sense where they’re creating a community. With these with these manufacturing units. That’s they also have a face to where they’re doing multifamily. The reason this is brought to our attention is we actually have some market rate apartment builders that are looking at this. And and so then you get into the economy of scale, the more units you can bring together in a community, the better the pricing is. That conversation even evolved into. If there’s enough of an economies of scale, they may be interested in actually building a manufacturing facility in the Front Range, the supply that demand. And so at some point in the near future, we’re going to send a team of staff to win a visa to visit and because it’s an interesting product, and it’s a product that if you look at the way they’re designing their communities, they’re not big homes, they’re not large homes, but dense homes, in livable, walkable communities, which really meets what the council said in terms of envision Mama. So this is what we’re I think we’re all going to have to start exploring in terms of that affordable homeownership. So I wanted to share that with you. Oh, yeah,
Unknown Speaker 54:00
Harold. Um, you mentioned that, you know, with the the money that the city’s been given to facilitate the building, there’s a timeframe. What is that particular timeframe? Remember what it is caffeine? 2024 is it something? Yeah, something like three years? Three years, three years. Okay. Yeah.
Unknown Speaker 54:32
So so the, the challenge with that, just to give you a sense is any project you’re on, might take nine months to from conception, probably nine months to 12 months or development review. And then you have to have the if you put any funding into it, it has to be extended. So then you take 12 let’s say 24 months for construction. You almost have to start on that now. And then you were Thinking about is how you negotiate the contracts on the commodities like that if it goes down, you take advantage of that. Yeah.
Unknown Speaker 55:08
So the Lh a and the city both are lucky in that we have land, at least that are, could be ready to go pretty quickly. It’s not like we have to go out and find some parcels, we’ve got several different options on that if we’re doing, you know, full build, or the other option is to do some purchase and rehab kind of thing. We don’t take as long. Arlene, you had your hand up earlier, you want to go ahead.
Unknown Speaker 55:40
So several years ago, we lived in the mountains of Colorado, and the town we lived in was growing quite fast. And one of the things they did was do Boise cascade homes, which is similar to what you were talking about here. However, the people that purchase those homes had to provide the lot for them, and the hookups for sewer and water and all that kind of stuff. Is this price that is listed here on these homes. Does that include the property and the hookups? Or is that in addition to? No, can you ask me that? Of course, sorry, somebody walked in? What was the question? Again? The question, is the price that you is listed on these phones? Does that include the lot? And the hookups to sewer and water and everything like that? Or is that something they’re going to okay? Okay.
Unknown Speaker 56:38
So think of it as a traditional housing development, in that when you buy the house, you’ve absorbed the cost of all the tap fees, water fees, in that price, obviously, their pricing is based on the tap fees that exist, all of the fees in one of Easter are being of Easter. But it will be reflective of that in, in talking to them so long that has some of the lowest fees, and taps and things like that in the Front Range. So we think it may be similar, but yeah, it’s all inclusive. Okay,
Unknown Speaker 57:13
so it could be cheaper if we do it on land that we already own, and we donate the land.
Unknown Speaker 57:21
And part of it is interesting. So they also partner and I forgot the name of the company. But there’s a group out of a development arm out of Berkeley that specialize in just doing developments in the affordable housing world. They were really interested in the property that we own adjacent to the lodge in Hearthstone. And really almost get this is near to Kathy, because this hit me after Kathy left working with that group out of Berkeley, and then this in their product, to look at a proof of concept on the front range for this type of work, where they will come in and do all of it, they just need to have us on our side support them in the leitet kind of world. And that may be where we have to bring in somebody like Sarah bond to help them do it. But they would literally be the developer and it would be very similar to the Chrisman development, but with a different product style. And because their model is built on affordability. So if they even said to us, if you had an affordable project go into their production line, in a form in a market rate project, go into their production line, they put the affordable ahead of the market rate because of what they’re trying to do to solve this broader market issue. So I tell you this, and you know, as I’ve been thinking about this, in this conversation, we’re going to need to explore it because I think this is what we’re going to have to talk about when both we counsel on you all of how we’re going to have to start thinking about this in a very non traditional way. That gives you a very traditional housing structure. That is not any different and then look at mixed income is we’re doing this too, because you don’t want to consolidate it on one location either. I just yeah. Follow up and then we’ll go to polling.
Unknown Speaker 59:29
Yeah, um, Aye. Aye. Aye. I like all the points that that you’re making Harold and Kathy. I don’t see why we couldn’t do both. In terms of if we’re going to go into home ownership. While we are developing and I understand we need to get going quickly. That’s what you’re saying if I’m hearing you correctly, Harold, in those in those months We can be working with people to teach them how it’s possible and how they can do that. And so we need to have both going so that when the house is ready, the people are also ready. Did that I don’t see any reason not to do both. Except, of course, the cost is that
Unknown Speaker 1:00:25
that in staff capacity, that’s the other issue that I have to manage to and staff capacity in that conversation. But we could find somebody we could contract with two. So those are things we’ll put on our list, and we’ll try to flesh it out between the Join now Polly, go ahead.
Unknown Speaker 1:00:48
Harold, I am glad you brought up the one of his two thing, because that’s been going on for a while. And I really do think that that’s a terrific model is manufactured homes. And they’ve done I thought that they originally had to, they couldn’t find any manufactured home producer except in Nebraska, but apparently they have something else. Anyway, I would love to see that come to Longmont. I know you said that we used to have one. But if we did manufacturing homes here, because there’s I think a growing market, it would give us a huge boost for and provide a lot of jobs, decent jobs for kids who don’t want to go to college, and all the way up to management and all that. Um, the other thing I was thinking is in terms of home ownership models, and in terms of low income. We already worked with rock ROTC. And we worked with rock to through sisal to help turn the trip trailer park on North Main into a co op. And cooperative housing, while it also has its own problems, is one way that people can get in, who don’t quite have enough money to buy a home, but they’re buying a share in a home. And that’s one method of getting some kind of equity in their home and moving up into affordable into an actual home of their own, although a co op is depending upon the structure, a way to homeownership too. And I do think we need to, you know, in terms of partnering with developers who actually do this for a living, we do need to be partnering with those developers you mentioned, as well as places like rock who will serve as that bridge to, they will essentially free up some money, teach people about cooperative homeownership. And then people are gradually buying it back and getting a share that they can sell and working their way into having some equity in their lives and building wealth for their family.
Unknown Speaker 1:03:32
And do we have any partnerships with any lenders or institutions to help people get into a home that maybe don’t meet the traditional background? Like I know, chafa has some different products that are kind of like FHA that you’re not paying the ridiculous mortgage insurance. Because I mean, I have lots of friends here in Longmont who rent and they pay more for their rent, and I paid for my mortgage and I put $1,000 down on this house and this house for reference was $397,000 because I got a downpayment assistance as a second mortgage. But you know, the one one friend, I’m thinking of, you know, and I asked her, how come you don’t buy? She said, Well, we don’t have the debt incomes too high. But you know, in talking with her, she doesn’t really have a lot of debt and they have decent income. So I’m just wondering, do we have any partnerships, or anything like that through the city or that you know, of that would help people qualify for, for mortgages that they can’t afford? Because I absolutely agree about the inflation issue. And like I remember I worked in the real estate market doing title insurance and closings, where I was watching people making like $40,000 a year in South Florida by half a million dollar homes on a balloon mortgage. I was like, there’s no way these people are going to pay for this in three years. So yeah, I definitely don’t agree with you know, people getting into a house they can’t actually afford but there’s got Gotta be. I mean, a barrier for me is, is the initial costs of buying a home like this closing costs are ridiculous. downpayments hard to come up with, especially if you’ve been renting. So, I mean, I really liked this idea, like Jean was saying and Kathy that you pointed out, like, maybe there’s a way we can help people step up out of affordable housing into homeownership. Thinking of like the pie program, I know that people can save money, but it’s not a lot to me. And I think it’s what $5,000 max at the end. So I would, I would love to look at some creative ways to help people move, in addition to looking into buildings, and I have not heard of one of us. So that was really exciting. So that would be I would love that here. And those houses actually remind me the ones in North boulder up in the holiday area, I call them the chicken coop houses. Because that’s what they remind me of They’re so cute. So yeah, I like that style. I’m gonna do something. Yes, I did.
Unknown Speaker 1:06:10
So I agree in the homeownership. And you know, that’s kind of the next step in the affordable housing. But I still, I think we should almost stick to our lane of rental of the of the homeowner home projects, activity apartment projects, just because what I’m seeing is there’s a 20 $100 unit shortage in our region to anything below $625. So, I mean, I think we should maybe dip our toe in for the homeownership side. But I think our main focus still should be managing these affordable apartment units. And it kind of leads me to another question to have, you know, with these possible units that are expiring or have expired, could we go after them to to see if they’re interested in how either having us manage it, or purchase that as well. And maybe then having a rehab as well through HUD.
Unknown Speaker 1:07:17
I was having a similar reaction, we get a lot of data that identified some of the gaps. And we’ve talked about some techniques to solve some of the problems with the challenge for us. What’s our role in all of this, more than just philosophizing about the challenges of affordable housing, what can what can really, really impact so I tend to agree with Tom that, that a large portion, or maybe the largest portion of our energy, and funds are going to what we’re really good at. But I don’t want to leave out the other pieces, I think we can dip our toe in that water, though, if you take 10 or 15% of our focus and put it on helping educate families and individuals to to and connect them with opportunities to transition out of the situation they’re in to whatever the next tier looks like. But stepping back, you know, when I when I’m trying to figure out is how between now and say our next meeting, and then July, we distill this down to something that can be helpful to counsel. And in their role as the lsj and counsel to move this problem forward. What’s our path?
Unknown Speaker 1:08:47
Are you gonna jump in Kathy? Or do you want me to wait for somebody else to? I’m trying to. So a couple of points where I think at least on our side, where this conversation starts blending a little bit more for me and Kathy and Karen, is as we’re sitting and so there’s, there’s this thing for us where we’re sitting in both slots slots are actually all three slots. So when you look at what we do from in our community and neighborhood services and housing retention and those types of programs that really gets to the programmatic piece. That’s a city piece. When you look at for sale and homeownership that’s a city piece, and then to Tom’s point in Cameron’s point, when you look at the multifamily rental market, that’s the Housing Authority piece. So generally, for us as individuals, we’re in all three slots, but it’s which hat are we wearing and where and, and so I think for us, this conversations really kind of highlighted the need to parse those out. where they fit. And then for you all, when you say, I think for you all is to, to then come in and say, in the world of the housing authority, here’s how we really see the fit for the housing authority and what we do. And here’s where we want to be. And here’s what we want to see, as a board on that side, specifically getting into development of units, types of units we develop, how quickly we want to develop units, how we partner on those projects, what we get out of the partnership on those projects. I think if we kind of in this world focused on that, that may help with some clarity, knowing that in that conversation, we may slide into these other pieces with the council, because that’s hat, taking off the Housing Authority hat putting on the city hat. I don’t know if that helps at all, trying to find the agenda and again. So if I’m looking at this, then getting into where do you see us being in in how do we increase vouchers, what are the targets you want us to see or increase vouchers? Then how we need to look at the concept of project based vouchers impacting on supporting projects that we develop. Specifically, what we’re hearing to is the more local vouchers we can bring into these affordable multifamily rental projects, that increases the likelihood of success. And then what do you see in terms of development goals for us in terms of bringing the property, you know, how many properties Do you want to see us develop in your purview of the rental world, if you want to stay focus there, and then laying out how we partner on this. So I would take that the first three bullet points and put him in the mindset of what you all think we need to do. From a housing authority perspective in the rental property management world. I don’t know if that helps at all.
Unknown Speaker 1:12:08
There’ll be at least helped my mind because I like the structure of it. And I would think maybe in the interest of time, one option for us would be to take this structure plus the information and discussion today and kind of offline spend our time thinking about this and and come back at our meeting next month. With any additions or revisions to this structure, we would like to propose is that enough time for us if just one more meeting before the retreat to feel comfortable that we can add some value to counsels? discussion? So
Unknown Speaker 1:12:55
yeah, I wonder if it’d be helpful if we designed some more specific questions, maybe even more of a visioning format kind of thing, for the next meeting, to help delve down into some of the areas that we anticipate you all being able to provide feedback to counsel on. And then devote the next meeting solely to that. So for instance, I realized I did an include there, there is a mission and vision for the housing authority to send that out and see does that still meet any kind of need or not? And by having some maybe more specific question, I wrote down some goals, just from what you were talking about a check in? Does this does this? Is this what you want to take a look at his as goals? kind of thing. So maybe some providing some more additional information to what we already have, and an outline for discussion for the next meeting?
Unknown Speaker 1:14:09
Yeah, I like that. And I’m glad you brought up the mission. When we were discussing this, I pulled that up and was staring at it as we went through these ideas. And it’s helpful to have as a reference point. Basically, everything we’ve talked about can fit within our vision. The trick is that next step of Okay, you know, we all these things are on the menu, but we can only have one meal this year. So what are we going to pick and choose and put on the plate and focus on. So that to me, is what we need to try to zero in on in the next month and then start that discussion with Council on the ninth.
Unknown Speaker 1:14:48
And I think for us, we need that specific we need those specifics because we see the vision and here’s where we are and we’re just seeing opportunities and moving them but we’re not sure and we think it’s an ally. What we’re where we need to be, and at least we’re hearing on Christmas and things, we’re getting a head nod. But I think we do need that, we need to get into that next level in those specifics. So we have some policy guidance. So that as we’re doing this, we’re not necessarily guessing. But we know, hey, this clearly fits in with what the guidance is. And we can pull the trigger. And I think that’s the clarity from an operational perspective that we’re going to need to get out of this. So we’re not making potential judgment calls that may or may not fit in with what you all want to see or what the board wants to see.
Unknown Speaker 1:15:39
We kind of put together almost like a timeline, like you guys did for the merging of La che and the city. And look at, okay, here are the immediate needs, and the rental area, like Tom mentioned, but increase our rental stock as quickly as we can using all of these federal dollars. And opportunities like the kruseman, one and two, and let’s see how we can reach a goal there first, with five to 10 year goal of having a, you know, homeownership to own project. Because really, if we’re developing apartments, there’s an opportunity to develop also home ownership units within that same community and having that nice mixed community where you don’t just have all renters, and even having some market rate, home ownership in that same area. So it’s very diversified, might attract some different investor situations as well. And have that be a future goal. And then in the and then also go along with trying to come up with a program is that as part of our vision, after reviewing all of this mission statement and vision statement, do we want to look at not just providing homes for people but information and coming alongside people to help them step into homeownership? And also, is it possible? If we do look at homeownership in the future to prioritize people who are in our programs already over people who are not? If that’s our goal is to help people get there? I don’t I don’t know if that. That Wade’s into some equity questions, we’d have to look at that. But that might be something we could do where they get like an extra point, you know, if they’re in the program, and we’re helping them step up or something, but, but making that timeline of like, here’s our immediate need, here’s what we could be working on. And then the midterm and then future goals. Maybe that might be more of a concrete, easier way to look at it. Because Yeah, I agree. Like, yeah, we can have all these ideas up here. And that’s great. But we need to focus on what we need now. I don’t know. Cuz I really liked Harold, I really liked your, your timeline that you made for us. And I know it changes. So it might be something good to present to the board if they’re if they’re looking for that. Good.
Unknown Speaker 1:18:26
So what what anything else we need to cover on this, this topic in preparation for next month, and retreat?
Unknown Speaker 1:18:37
think we’ll just bring it back. And you will take this and put together your ideas once you have the grounding in it. And then we’ll we’ll go from there.
Unknown Speaker 1:18:49
Sounds good? Well, thank you for the all the data and then some interesting discussion and possibility. It’s it’s a little overwhelming to me. So I’m craving that focus. But hopefully we can get there in the next period of time. But let’s move on to item five, a city report and update on operations.
Unknown Speaker 1:19:20
So I will go first, and then I’ll have Lisa jump in on the vacancy reports. So that we haven’t made much progress this month. Basically because we’re getting prepped for the LBJ audit, which is in house this week. We did get the lodges voucher paid in May, so that’ll come off the ledger. The reason probably for the increase is the heart stones April. That was a huge increase going back to January to get the new contracted rent. The original budget that HUD approved didn’t have the replacement reserves in it So we had to have two different periods of contracted rent, which caused the threshold to go over on HUD side. And there, it’s just trying to explain that it’s, it’s legit, we just need to get it paid. HUD has required that we begin submitting financials to them as well, those were the two properties that we actually didn’t have to submit reports to, but they are going to be requiring that on a monthly basis, and that starts next month. They we do also have some deadlines. From our mo our audit that we’ve asked asked to be extended till the end of the year, because with, they want to 100% file review of all the hartstone and lodge units to make sure everything is compliant and the files as well as getting our AR imbalance. So we have said we will take on if I mean because with with the property management in place, we just don’t have the bandwidth to do that all at once. So we did ask for an extension to the end of December to get that all completed. And we’ll report on that on a monthly basis with the financials as well to show which files have been reviewed and which Ledger’s have been cleaned up. It’s a little complicated to clean up the ledgers on a hartstone on 202 properties because the system is pretty automatic. So if you make one change, it could affect another. So we have to be really diligent and careful as we move forward with those. Do we have any questions on the air aging?
Unknown Speaker 1:21:52
One thing I do want to explore when Kendra talks about the issues with the 202 properties. We’re actively discussing, getting them out of the 202 program. Because it just creates so many issues for us in terms of what you have to do and how you have to do it. And it just doesn’t work like any of the other properties. And we’re not sure what value Am I saying that appropriately? The value that we’re getting out of being in a 202 program, we’re not sure why that happened. But it almost creates, we can accomplish the same thing and do the same thing and not being the HUD program. That’s where we think we need to be the challenges, you can’t just immediately get out of it. You almost have to get in a waiting list to accomplish that. So we’re starting to explore that just because of the challenges we’re having that Kendra’s talking about.
Unknown Speaker 1:22:49
Here, oh, I, I can’t understand you wanting to explore the options. I’m getting out of it. Though, one of the biggest benefit of having 202 is the huge amount of rent subsidy. And more, though very, extremely low can afford that. So I Well, we can look at options, how can we still keep that availability, and that’s where that’s where HUD comes in. And then we got a consequence of not being there. That’s what I’m looking at.
Unknown Speaker 1:23:31
So transferring them from a 202 to a it’s kind of a rad program, it’s a subsidy program, you actually transfer at the same contracted rent, as you are today. So it’s similar to and the subsidies would be the same, they would still be paying 30% of their income, that would never change, we would still have the contracted rent, what you kind of get rid of is all of the HUD obligations that are required, which is submitting the budget, getting it approved, making sure you have so we would still have to do that. I mean, we’d still have to do that on the lhsaa side. But it’s just you’re not there’s so many fine tune details on a HUD 202 property that you
Unknown Speaker 1:24:14
have to follow. Yeah, Kendra, I appreciate you keeping that politically correct. Basically, it’s bureaucracy weighing it down. The requirements are so detailed, and so many of them it’s bureaucracy that weighs it down. And it costs us money cuz it cost us time. And staff. Yeah, yeah. So they the other program, you may even to wrap program, that option that we would go to would still keep that 30% That’s awesome. Yeah. Okay, um, I’ll get off my soapbox. Oh, no, you know, it’s a good question. Yeah, yeah. Okay. Um,
Unknown Speaker 1:24:57
so that’s kind of where we stand. We are making progress. A lot of the property managers are looking at their Ledger’s and they’re sending me details monthly to get corrections. A lot of it’s just a flip flop from HUD subsidy to rent is what occurring. So there’s not really like we’ve under reported revenue, it’s just we’ve reported it on the wrong side, kind of, in a sense. And I didn’t know if you wanted to if we wanted to go into the budget comparison or if you want to tackle the the vacancy first, Lisa. I think that’s the the vacancy. The report provided showed 30 vacant units were actually now down to 26. And out of those 2614 of them are also rented. So we’re making some huge progress on getting these leased up. The only thing that’s been standing in the way is the Aspen Meadows kind of it’s kind of hard to rent right now with all the construction going on for both the neighborhood and the cedar because people don’t want to come in with the parking lot torn up or contract trucks all around. So we are seeing a slowdown there. But she has been able to run a field that was the Spring Creek hartstone Lodge and Fall River are completely full right now. And the suite has 10 vacants. But seven of those are pre lease. So making some progress. All right, Lisa,
Unknown Speaker 1:26:20
hey, Lisa, how many of the many of the 10 are associated with MHP? Eight? Okay, I wanted to make that point, because when we talk about vacancies at the suites, we control some and MHP control some and typically where we’re seeing the vacancy set is on the MHP side.
Unknown Speaker 1:26:44
Contract like anyway, with hp, is it? Are we required to give them those 10 units or Okay. Is it a contract directly with MHP? Or is it with HUD? How is that? Yeah. Department of Housing. Department of Housing. Okay, state. So they have 40 units? Yeah. Okay. All right. So we can’t get out of that. If we’re seeing that they’re just not running.
Unknown Speaker 1:27:12
It’s, um, it’s a conversation that we’re having, and which is why I wanted to make the point when we look at vacancies, there’s things we can control and things we can’t control. This is a conversation that Karen’s having with other jurisdictions because they’re seeing similar issues. And the issue is that MHP is the only Karen, what are they called?
Unknown Speaker 1:27:37
They’re the only authorized voucher administrator for the division of housing for Boulder County. And so and so to Harold’s point, I, you know, there, there certainly has been advocacy with throughout the county of having Doa, open up that process for other administrators to apply, rather than just having one entity being able to serve that role. Go ahead, go ahead.
Unknown Speaker 1:28:09
And I see I see no value to them, having those units. But I also want them to use the units because it’s also taking the spot away from somebody else that could be using that year, like long term.
Unknown Speaker 1:28:21
It is and and I think we talked about this before is that we are I would imagine, you know, Tom is going to be this week first part of next week is that we will be submitting to the division of housing, an alternative tenant selection plan that, again, lets us for those MHP vouchers, lets us draw from three different sources of applicants to be able to fill the the units that MHP manages on in a better, more efficient and faster way. So we are we are working it and because it doesn’t matter who who manages those vouchers. It it absolutely affects the bottom line for the lhsaa. For sure. Yeah,
Unknown Speaker 1:29:13
it just seems like it’s an ongoing problem. That’s kind of what we’re talking about as MHP is always having these vacancies that are outstanding. Yeah,
Unknown Speaker 1:29:20
yeah. And to our point that cost us money and creates financial issues for us. To the point where Karen’s really been leading the charge, she’s brought me in on one conversation where basically said you’re killing us. And this needs to change, which is why they’re submitting that other proposal. I think on the other side is also a parallel conversation with our jurisdictions. We work in this world that we work with in this world, motor housing partners, the county and really as a collective. Once we get all of our once we get our arms wrapped around this and the message we want to send the D o h i think gets a multi jurisdictional message coming from Boulder County to open it up, we still have some work to do. I wanted to get this on your radar because it is something that we’re working on. And I didn’t want to get. I didn’t want us to outrun our headlights on this one. All right, where else are we on the city report? Any questions on the vacancy?
Unknown Speaker 1:30:43
So I will move into so I know last last meeting you asked, you know, can we see the budgets, I do have the property budgets ready to go. Next month, I could definitely have the Lh a and all the other properties ready. So I wanted to at least present those to you today. The system has two different types. So one is detailed, and one is more of a count tree where it kind of rolls everything up on administrative costs. I don’t know what you would like to see, I think there’s some things in the income that are missing that you would probably like to see such as you know, how much is vacancies, it’s kind of rolling it up into net tenant income. And I think vacancies is kind of an important thing to review. So I mean, there’s some things that I think it collapse too much and and maybe some things that it doesn’t. But I want your feedback on what you’d like to see. Because I think there are abilities in the system to create different account trees that roll up differently. I may not be able to research and actually figure those out probably until the fall or winter, of this year. So we can we can move forward with one of these reports we have right now. But getting your feedback would be great. The detail goes into the detailed budget, which is you know, everything that we budgeted, we are finding that there are certain things that we probably need to be more detailed on as far as coding wise, so we can easily your budget in the future. For example, one of them was the payroll benefits, you know, there’s one line for payroll benefits. And that doesn’t necessarily include what happens on the payroll side. But other additional costs, such as workman’s comp and life STD all that that’s a separate cost that you need to budget for, and it’s not rolled into the payroll. So we’re starting to separate or separate those out. And separate those things that can be more defined so that when we do go to budget in 2022, it’ll be a little simpler for us, along with getting the kind of analysis on, you know, when it hits, right now, a lot of things are distributed evenly across the board. But that’s not how things fit. You know, you know, gas fluctuates, you know, at different periods of the time the utilities fluctuate. And so we want to get to a point where we can actually enter that fluctuation in the budget as well. And I’m kind of doing that as I go. So we can kind of get a baseline for next year. Does anybody have any questions?
Unknown Speaker 1:33:17
Yeah. No, this is great. It’s very helpful. Um, and kind of like, I like that summary view. And like, if we can break out that net tenant income, like you said, that’s kind of the same agreement of that. And then the, all the other expenses. I mean, if we did have questions, we could just ask those, and then you can provide the detail if need be. At that basis. One thing that would be helpful is if we had a percentage of budget that was used. So then we could kind of compare how far along we are in the year to the total budget as well. That could be added.
Unknown Speaker 1:33:55
And it does so so there is the option on the on this to do what’s called right now I just did the actual versus budget, but you can do a tool that’s called the variance. So that’ll do actual budget, give you the variance in dollars and give you the variance percentage. Okay, so it’s a four column, it’ll be a bigger report, and I’ll have to divide it but that’s that’s not not a problem.
Unknown Speaker 1:34:18
Yeah. Okay. The one thing I would say on that, because I had a similar question, and it may just take us some time to get better at this is also understanding seasonality. In the kindred, Kendra kind of touched on this, because what you’ll see is the variances may look different. But if if we’re coming out of January, February and March and we have a really cold winter, you may see it look different just because of natural gas usage or, and so just sort of a word of it’s going to take us a year or so to figure out the seasonality within this and to continue fine tuning.
Unknown Speaker 1:34:59
Yeah, but that’s can be easily explained to Yeah, that is a seasonality. So I do it, you’re going to execute, or we’re going to expect to see the utilities spike at the beginning of the year and slow down. And then maybe spike in the summer again, something like that. Yeah. Okay. Now this is this is exactly what I wanted. And then if Yeah, if we have the complete picture, I think that’s what we’re looking for. Okay, perfect.
Unknown Speaker 1:35:23
I think the the other thing that some of the things that Lisa is doing, that we’ve seen in other budgets, just to give you a sense of, we are really managing who we call in for services, and in what we call in for and so we’re running those through Dennis and Lisa. Because we were seeing some issues in different properties of where we were just calling people to come in and fix it versus having our maintenance, folks try to look at it. And so we’re trying to get some cost containment there. Because as we look in the past, I was seeing some outliers and past budgets of why were we here. And so we’re also making some operational adjustments based on what we’re seeing in the financials.
Unknown Speaker 1:36:15
So I have a question. And I agree with Tom, that I think we need to see the percentages, because that gives us a better idea of where we’re at. And I want to make sure I’m looking at this budget correctly, when I’m looking at actuals. Is that getting us from January through April?
Unknown Speaker 1:36:32
Yes, it probably also includes some a whatever strand back transacted in May, the problem with the problem with the yardie, the way it works, is if I don’t go out to, so we can, we can go out to April, and it’ll show you just what’s been budgeted out to April on a divided that can kind of get, and that’s where you would kind of see anomalies, that would kind of get a little crazy once we start getting that fine tune and seasonality. So obviously, we can do that. So if I do this range from January to April, it’ll include just the budgets divided evenly to April, along with the actual, so I can do that I went out for the full year, so you can see the entire budget. So so let me know what you prefer.
Unknown Speaker 1:37:19
That was going to be my question was is the budget the year or is it just for the quarter however goes okay,
Unknown Speaker 1:37:26
yeah, so I could do both. I could do one that shows up to this point. So that you can kind of see that along with showing the yearly analysis.
Unknown Speaker 1:37:35
Well, for the current budget, but evenly for the year, I think we just have a cut off of the previous month. And and then that will be easier to to review and look at if we’re if we’re not budgeting by month, for a particular account. It doesn’t really matter that at that point. Okay, so you should almost see, you know, if we budgeted perfectly, you would see actual equal budget. But if there is some seasonality, you would just you might see actuals against budget, you just explain that. Yeah, yeah. Okay.
Unknown Speaker 1:38:14
So then, I mean, then you walk away, do we still need that? variance and the percentage if it’s going to be like you’re expecting the actual to equal the budget. I leave that to some users if you guys want
Unknown Speaker 1:38:28
well, depends on if you like that visual appearance. Yeah, I would say yes. For you. I would say yes, because of that. Okay. So Tinder, why is
Unknown Speaker 1:38:42
there nothing budgeted for expenses under the lodge? Is that just something weird happened in yardie? Er, well, are you looking at financing expenses? I am looking at whatever, all expenses under the large budget on the roll up one. There’s zeros. Those are on the fight. I see zeros on the financing. Oh, no, no, no, no. Okay. All right. Let me check that I see what you’re seeing
Unknown Speaker 1:39:17
that that’s a computer glitch. cuz I’ve seen one where it has it all lined out. I don’t know why.
Unknown Speaker 1:39:25
And then the estimated senior apartments we had like 2300, budgeted for tenant services, and 35,000 in expenses. Do you know what that difference is?
Unknown Speaker 1:39:39
That’s probably the relocation. That is the relocation costs that are coming through for the MSA construction project.
Unknown Speaker 1:39:47
So we need to move that then because that’s been covered. Yeah.
Unknown Speaker 1:39:53
So we were tracking them separately so that we have all those costs in one budget and It’ll get moved to, to whip. My understanding was it was supposed to be. That was a soft cost that actually does get expensed down. But Lexa said that those can be rolled up into the construction. So there are some things that can that need to be expensed and some things that can roll up into the capitalization. So at first we thought those weren’t allowed.
Unknown Speaker 1:40:26
For your true up once it’s done. Yeah, yeah. Then you’ll either bring a revenue in or move the expense out.
Unknown Speaker 1:40:34
It’ll go into whip, and then they will capitalize it between what what gets divided between the loan and what gets capitalized? Yeah. So you take the expense out once it’s right. Yeah, yeah. Yep. Gotcha.
Unknown Speaker 1:40:58
So if you all don’t have any other financial questions, we did hire the, the accountant to work with Kendra correct Kendra,
Unknown Speaker 1:41:08
I met her we are fully staffed. We have the accountant she started probably about a month ago. And we got the accounting technician she started last Monday.
Unknown Speaker 1:41:17
And so when you see some of the audits will explain this as we were going through transition, some of the audit comments that we were planning to deal with in this method still existed, because of the transition point. But now once we’re fully staffed, they’re working to plan for separation of duties, if kindra and others are out. And so we’re now at the point where we’re really dealing with those audit comments, but you will see him again, because it just where we were in the transition for last year. But this year, it’s a much different picture.
Unknown Speaker 1:42:01
So on the other, if we can move to some of the other operational adjustments. On the security update, I just wanted to let you all know that we did get at the village where we were having issues with someone getting in, and we did actually get the lock covers placed. And what we’ve we haven’t seen any of those issues, again, in that facility, but the cameras are where they finished Friday. Or Lisa, I know they’re supposed to,
Unknown Speaker 1:42:37
I believe they’re all installed, we’re just waiting for the final hookups with them, getting it all onto the DVR system may having accesses and then getting our remote access set up.
Unknown Speaker 1:42:48
So that’ll be in place by end of week, that’ll be in place. And then we’re gonna work a process where we can also work with her who all has access and maybe even work with our police department and giving them access to it. That is also part of the project at Aspen Meadows senior apartments. And in the work that they’re doing there. We’re also evaluating how we can do that at Aspen Meadows neighborhood. Based on a conversation that we have Friday in terms of security issues, we think we’re really dealing with the areas where we’re seeing and we’re not necessarily seeing those issues at other properties. So we think we’re in a really good spot now in terms of security and what we’re dealing with in getting these properties addressed. So you all know, we’ve now added Sarah Arnie, who is in our crime free multi housing family housing group, she has been working a lot with Lisa and dropped her name Mesa, Grande, Korean. And we’ve included her in our weekly meetings to get those updates. You know, knock on wood, even from Public Safety’s perspective, in terms of issues that we were historically seen as sweets, we’re definitely getting a much different report now from public safety and where they’re seeing the world. So we’re really happy about that. I think that’s a product of a couple of things. And so this is really kind of verging on property security. A, the fact that Koreans been in the building and establishing the relationships with the residents there has made a tremendous difference in terms of the interactions that we have at that location. We’ve also brought brandy in from our Senior Services Group and working on some of the case management and advising all of us but Korean on how we have the tenant relationship that’s also made a significant difference. So welcome the word behind me. Generally, that was the property where we were probably seen the most significant issues and the highest number of calls for service in those things. And it is I think it’s fair to say drastically different today than it was four months ago in terms of what we’re seeing at the property. So we’re really happy with with the progress that we’ve made. And I think it’s really helping us inform other strategies that we use on other property. So I wanted to let you know, that’s kind of, again, what we hope to see, I don’t think we thought we would be in this spot as fast as we were. But we’re definitely starting to see the results. And that’s just a testament to the entire team that’s been working on this, from top to bottom. Did I miss anything, um, security property eventually. So you probably got more property updates.
Unknown Speaker 1:45:44
Um, I just to piggyback off of you for just an example, when I started here, back in December, five months ago, I was probably seeing two to three calls a night for the suites. Now, I probably see maybe five calls for a week, and that’s involving Corps and every agency involved. So we see that when he says drastic, it’s a big, probably about 20 call drop a week. We’re also working on cameras for the neighborhood, then we’re going to probably try to get some security cameras over at Spring Creek in the lodge to just help with nuts, the Loctite Spring Creek and Fall River property updates. I’ve been working with efficiency work throughout the city and new Edison to get more better lighting throughout these properties. So we’ve been, we’ve gotten some grants, so we will start installing new lighting for the exterior of the suites, we hope to have that installed to start in two weeks prior would we hope to start in about a week and a half, then Aspen Meadows neighborhood, then we are currently having the grant evaluations go through for the lodge and Spring Creek. So that they will all have LED lighting on the exterior of the building and some hallways, just
Unknown Speaker 1:46:58
keeping our costs down as well with switching this up, and better lighting on the exteriors.
Unknown Speaker 1:47:07
And then finally, for me, before we move to resident culture, and Karen, I did want you to know we have moved the staff to the Civic Center. And so they’re here we did exercise the lease with VCP. So they’re in the in the property, which for us is very important that I talked to you all about this before. Their experience in managing housing really is a good fit in the partnership and the communication where we’re still managing the units, but they have a conduit to them. And they’re used to that world was a good transition. And so it has operationally for me, allowed me to have more interaction with folks just because they’re in the building. But I think it’s also really, truly bringing them into the fold in the city organization, which is always what’s difficult were in multiple locations. And so we did complete that work. For You sound like a robot Tom.
Unknown Speaker 1:48:11
Oh, that was not in his comment about accountants in general. Yeah. You can put it in the chat if you aren’t. Where’s the chat?
Unknown Speaker 1:48:52
I don’t see the chat function. So, so to move things forward. I think I’ll just talk if that’s all right, Cameron. And just just a couple updates on the resident culture. So and, and just to, to build on what Harold indicated about the staff moving into the Civic Center. So So just to clarify that. We had basically seven staff members so for staff members, that would be the two Housing Choice Voucher staff, Lisa, you see her in her new space, and then Olivia, so they are over in the community services side of things. And then across the hall at the Civic Center. We have Kendra and then the names of our new staff members in accounting is our April Beamer who’s our accounting technician or counting tech, and then Heather Clark is our accountant. And so, Kendra, Heather and April are their offices are in with, in with accounting and finance on the other side of the of the Civic Center. So, the so I did want to let you know that we are in we are starting to process we have talked a while about starting to address them to work on resident culture, within our within our residences that we manage, we are in a position where we’re where we can start that that process so. So just to let you know, the community managers have identified I think, approximately 60 residents in all of the properties that they llj manages, and what we are going to initially do is we have developed an interview guide, that, that there will be several of us that are that will be interviewing individual residents, and we are going to be ask them really about four dimensions of, of community living, if you will. So those have to do with a sense of community, how to have trusting relationships, trusting and respectful relationships within the in the residents with each other and off and with city and with, excuse me with ellijay staff members. The third areas in communication. And the fourth area that we’ll be interviewing about is property management logistics. So So basically, it’s a, it’s in an appreciative format, where we’re really looking at looking forward, we’re asking residents to reflect on the best of what they’ve seen in those areas, and how we can build on that as as LBJ in our residential communities, we will basically then take that data from the individual interviews, and then we will reach out and engage the broader communities around the what that means, what we learned, and how to start moving those forward into priorities for for sustainable improvement within our within our properties. So I did want to. So we hope to start that process, that interview process. I would imagine we can start that in June, have those completed in July, and then continue on with the with the resident with reaching out to all of the residents. I do want to let you know, and this is something for y’all to think about as advisory board members that we’ve identified, there’s, there’s at least four areas that the advisory board members can get involved in if you so choose to do so. One, we could use a couple of test interviews, so we could use a couple individuals from the board to for us to interview and we can test the interview guide and see what what we need to do to make that a stronger guide, there might be some questions like nah, that doesn’t work. So anyhow, we could use some test interviewers, if anyone feels like they want to be a guinea pig in that arena.
Unknown Speaker 1:53:34
We also can use advisory board members to help with the interviews, individual interviews of the residents, we could use advisory board members to help us to analyze the data. Once we get all of the interviews back we have to we have to basically compile and figure out what all this data means. And then there’s the last part of this is what we call making meaning and prioritizing the data. So those are the four areas that we are that we would really love to have advisory board members be involved in. I know in the past that you’ve identified that we would like that you would like to be involved in some way shape or form with some of the work that we’re doing with the individuals who live in our communities. And so, we are we are ready to roll that out. So what I will do is I will send a follow up communication email to you all and and with those with those opportunities for engagement for you to think about and and let me know what you are interested in so that So Michelle wait with with senior services is is helping to coordinate that along with Lisa, me. Olivia is is involved in that too. And, and so we’ll we’ll reach out to you and to see if anyone has any interest In participating in the kind of this next, next phase of work that we’re doing regarding the, the, the culture of our residential properties, and the Lh a, soon to follow, we’ll probably be doing a similar process with our, our organizational culture. So we’ll see how this process works with our residents. And, and soon we will be doing this with our, within our organizational culture, we do have some vacancies that we hope to be able to fill. Before we get this started, so we do have, we would like to be able to, to fill a couple of community manager positions. We’ve we’ve had those on in that recruitment process for a little while. And we’re just we’re not, we’re having a hard time getting qualified applicants. So we are continuing to try to figure that out. And, and then we also, I think, as we might have mentioned, is that we will be hiring a new Supportive Services Coordinator for the suites. What brandy Queen has been doing is, is kind of filling in temporarily and really providing some case management basically clinical consultation for for some of the residents there. And then we are moving forward, this is something that we included in the budget to to hire Supportive Services Coordinator for the for basically Hearthstone and lodge our 202 properties. So we’re, we’re, we’re trying to figure out the right mix for the for those positions. What we need in terms of skill, what the market will pay, and what we can afford. So we’re trying to figure all that out. But But I think as soon as we’re able to bring all of those folks on board, then we will really start that that organizational culture work within the the Lh A. So, that is my update. And we’re glad to answer any questions. And it is fabulous to have our seven Lama Housing Authority staff members here in the civic center it is, as Harold mentioned, you know, I just go down the hall or I can yell over Hey, olevia. So, so to have that kind of informal interaction to help us build the team and get work done is, is priceless. So we are we are very happy to to be together.
Unknown Speaker 1:57:53
Thanks, Karen. Anything else on the city report? No, so well. Let’s roll on to item six other business any other business for the good of the order? Tom? Well, I had questions kind of on you can hear me now. My robotic? Yeah. Well, you can hear
Unknown Speaker 1:58:16
updates from last meeting. So the new pennant system with Hearthstone and lodge that was supposed to be fully implemented April 21. We’re good to go on that one. Awesome. Wait, we are just to update the pool cards are coming out today. Oh, so
Unknown Speaker 1:58:33
we had a few issues getting it up and going. They gave us the wrong number. But what like and again, that’s the relationship. So then Sarah communicate and we got it worked out so it’s going alright.
Unknown Speaker 1:58:44
And then the other thing was, I think, Kathy, you mentioned that there would be additional vouchers provided to Lh after a meeting on May 10. With a consortium.
Unknown Speaker 1:58:57
That’s some bad news. Sad news. Yeah, we did not get meet the minimum threshold to get those you had to through their formula, you had to qualify to get at least 25 vouchers, and we didn’t meet that criteria. As a matter of fact, we were kind of surprised. Boulder County housing authority and boulder housing partners, which you saw the number of vouchers they have compared to ours. They only qualified for 35 each. So it was I think, so we got 70 ish in Boulder County. There was 70,000 nationwide. So we did not get selected. for that. Unfortunately,
Unknown Speaker 1:59:39
we will be working with it for longer to get additional vouchers that the authority can look at.
Unknown Speaker 1:59:45
Yeah, so we’re we’re working toward to improve the number of vouchers or increase the number of vouchers. We now have really good data that we put into HUDs to your tool, which projects forward what your budgets going to be and how many vouchers You can, you can lease with your budget, we just opened up 10 more vouchers, and have got seven of them filled within two months, less than two months. So that process, we will take that data, we’ll put it into the tool, and we’ll keep adjusting it and projecting forward what we can lease. lease that new voucher, so we’re continuing to work on that.
Unknown Speaker 2:00:30
And then before I went robotic, the signage in front of I guess, the Briar wood, are we gonna get rid of that, then that says the Longmont Housing Authority since really, we’re no longer there?
Unknown Speaker 2:00:41
Because, again, we’re, they’re working with planning in terms of what they need to do from this from a sign code perspective. And so you don’t want to take it off and not replace it, because they create sign code issues. And so they’re they’re working through and working with our planning division on that issue. And the only thing, we’re gonna change the official address then to the city as well.
Unknown Speaker 2:01:07
Yes. And we have done that. So we have, and I’m sure we’re continuing to do that. But yes, we we’ve been making that address change for two 350 kimbark street for the kind of the official location for the the Housing Authority. And you know, and then I think to Harold’s point is that we also add, we also put in the lease agreement, that VCP would would consult with the Housing Authority, in addition to planning, particularly around the the sandstone sign out on Main Street is that, that, so we want to make sure that that is that’s able to remain, or maybe they can put a skin over that. But anyhow, we want to be consulted for the final, final assigned design for what goes on that main street sign. Sure. And I think just the clarification on those those vouchers that Kathy talked about, again, those are Bertuzzi, housing vouchers, those are primarily focused on individuals who are experiencing homelessness, those are not permanent vouchers. So so so they that we can lease up through September of 2023. And, and if any of any of those of residents who have a voucher, and if they let those go after September 2023, those vouchers will not be replaced. And and then I think as Kathy indicated that we are working together, we have the homeless solution for Boulder County, we all of the entities are working together. So we also anticipate that Longmont, individuals who are experiencing homelessness or or maybe we are also looking at at using those vouchers in more of a move on scenario where maybe we have individuals who have been in permanent supportive housing, and maybe they have more stability, that they are ready to move on for for a tenant based voucher that those might be individuals that would be first eligible or we’ll use some of those new vouchers for that. So Longmont residents will be in the mix. And certainly, some of our suites residents that are in permanent supportive housing, would would possibly be able to access those vouchers. Thanks for the clarification any other business arleen. Well,
Unknown Speaker 2:03:46
I’ve just have kind of an idea. And I’m not even sure where it needs to go or if it’s even a viable idea. But when we’re looking at affordable housing, and particularly when we’re looking at, you know, three, four levels of housing with 6080 to 120 units in there. And we’re looking at the possibility that the people moving in there are going to be two income families. What is the How can we add a daycare center into that, to help those people. Um, I realized that we might be taking away from a rental unit, the space, but I think that the leasing of that particular area for a daycare childcare, even after school care, would offset whatever it was that we would get in rent. So I don’t know where that needs to go. If that’s even, you know, a possibility that I was wondering if that’s something we could take a look at, to help these people out. You know, rather than have to drive across town with their kids, it would be right there. And of course it would be licensed. interesting idea that should definitely go. Yeah, we’re on thinking right now. Yeah,
Unknown Speaker 2:05:06
well, and the only thing that I would say is that, and I don’t know, Laura has some information, but boulder housing partners, they have incorporated that model and several of their properties. So it’s kind of a, they have built like a community center as part of some of their residential developments and have have provided, you know, those services. So they have they have the, I have a dream foundation that provides, you know, support to, you know, after school and, and, and Scholastica support. So they are they operate a program in one of the boulder housing partners, community centers, so So we certainly can reach out and and talk to Boulder housing partners about how they have done that they certainly have incorporate that in some of their properties.
Unknown Speaker 2:06:05
Holly, I know that they do that in various Housing Authority projects in Los Angeles to an all over the place. I mean, all over the country, it’s a really good idea because childcare is one of the most essential things for women who 20% of women have left the workforce. And that’s the main reason why I’m speaking for myself as having been a single parent. It’s a real nightmare, to try to find childcare, good childcare. And if it’s in the building, it is really, really helpful. And it is also a great cost savings to everybody. So I think it’s a really good idea that we should pursue if we’re able to find ways to do the funding, and we, you know, it is one of City Council’s goals to work with early childhood education. But this is certainly really important to people with low income is to have some help with childcare. Yeah,
Unknown Speaker 2:07:17
I know bhp does that I, I can’t remember if we have that set up that casual. I know we have a community center, but I don’t think it Castrol we have childcare. But if we have if we’re building any developments, with the idea of putting in either some market rate rental, commercial property, and then a community center that we can rent out, I mean, if we provided a space for a childcare provider at a reduced cost, and then worked with either headstart and then also c cap to the state, we might be able to provide residents with some pretty, pretty affordable childcare. I think that’s also a great idea because as I’m patting the birth of my baby now, in this meeting, finding childcare is hard and expensive. So yeah, I like that idea. If it’s possible.
Unknown Speaker 2:08:12
I think this is the exact right time to bring it up as we’re starting to develop our our goals for the future and having a more in depth discussion with Council. So good timing. Any other business? Seeing none, I would move that we adjourn and focus our attention on getting ready for the next meeting.
Unknown Speaker 2:08:40
And if there are no objections, I’m running in a vote. We’re just gonna say We’re adjourned. And I appreciate your time this morning.