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HHSAB Meeting – June 10, 2021

Video Description: HHSAB Meeting – June 10, 2021

Note: The following is the output of transcribing from a video recording. Although the transcription, which was done with software, is largely accurate, in some cases it is incomplete or inaccurate due to inaudible passages or [software] transcription errors. It is posted as an aid to understanding the proceedings at the meeting, but should not be treated as an authoritative record.

Read along below or follow along here: https://otter.ai/u/h2NkOLN-qkuZiTJbjQjHtWpM3WI

Unknown Speaker 0:00
For three, three projects, which resulted in a total of 1.4 million in requests, and that represents about 217 affordable units almost evenly split between new construction and rehabilitation and all of the program projects our rental projects this time around. So our first presenter is for the Chrisman two apartments and we have Danny with mgL. And then Lisa also with Longmont Housing Authority. So I will let you guys take it away. Hey, thank you so much, Molly. Thank you, Karen, for putting this together. Can everyone hear me okay? Okay, great. Well,

Unknown Speaker 0:47
if you wouldn’t mind throwing up my PowerPoint, I figured we, you know, it’s nice. I’m sure you like looking at me, but maybe pictures of the property would be better. So let’s look at that. And then I will ask you, Alberto, maybe to just advance the slides if that’s okay. Yeah, I can do that. Okay, Wonder one. Yeah, we’re good. We’re good. Okay, great. Well, thank you again, so much for having us. I’m Danny buchon. I’m a development manager with mgL partners, and algebra two, you can go ahead and advance the slide. Those are just some images of some recent developments of hours, you can go ahead and advance the slide once more. I’m just going to share a little bit about our company. Go ahead and advance. Great. So ngl is a Denver based developer are focused in Colorado, we’ve developed over $800 million worth of property across all multifamily rental sectors. So affordable housing, workforce housing, Class A or luxury housing, senior independent living, assisted living and memory care. We’ve been in the business for over 16 years, I’ve been with the company for about two and a half. And before them, I was working in Boulder County, with boulder housing partners doing their development, go ahead and advance the slide. So this is just an overview of our different business lines and kind of how they break out between the affordable workforce market rate, if you will, and senior housing of the 42% of the affordable housing work that we’ve done. It’s sort of split between work that we’ve done as development by ourselves, which is what I’m presenting to you tonight, Chrisman to, and then work that we’ve done as a financial or development consultant. So you I’ve come to you in the past two years for cinnamon Park apartments where we are working on behalf of senior housing options. And we provide all kinds of different services as far as affordable housing, and consulting services for properly giving expertise on tax exempt bonds, long term housing tax credits, historic tax credits, grants, cash flow loans, subordinated debt, land leases, and then construction and perm debt. Go ahead and advance the slide. So here’s our resume snapshot, and specifically to Longmont. ngl, in partnership with the long run Housing Authority delivered 114 units in 2018. At Chrisman one apartments. Chrisman has been extremely successful over the past several years, and has maintained a 97 to 99% occupancy, even throughout the pandemic. And most recently, two weeks ago, we closed on some in park apartments. Construction is already underway. And I want to thank you very much to this group or for funding that project and giving even more funds over the course of the project. As we were dealing with some construction cost escalation issues, we absolutely couldn’t do it without you. And I’m I’m thrilled to tell you that we crossed the finish line and we are starting construction. So that should be delivered 25 Senior affordable units in spring 2022. Go ahead and advance the slide. So here are just some pictures of Chrisman apartments. This is the first phase and what I’ll be what I’m asking for tonight is funding for the second phase so it was 114 units of affordable on note that it was only one and two bedroom units. Chrisman two we will be offering three bedroom units, about 26 million in total development costs. Three storey wood frame walk up so no elevators, but and surface parking and it’s, it’s well parked, we have had people go out and count for us. And there’s significant there’s, you know, between five and 10 spaces that are free on an average weekday night so we’re not spilling out into the neighborhood it was appropriately parked. Going in advance a slide.

Unknown Speaker 5:28
Here’s an aerial view, Chrisman Crispin apartments and the green that you’re seeing in the forefront of the photo is where Christmas two will be advanced a slide. Here’s an image of our exercise room. I just wanted to give a little taste of what it looks like. So we will also have an exercise room that Chrisman two, they’re very well utilized. Please advance the slide. And this is just a rendering of cinnamon Park apartments to give you a little taste of what that’s going to look like. Again, 25 units of affordable senior housing, about a $9.2 million total cost two story what brand this one with an elevator as it’s serving seniors and surface parking is advanced this slide. And here as you can see to the right hand side here where it’s the proposed two storey building, that’s currently a vacant lot. The other two buildings exist as assisted living right now owned by senior housing options. So this will be a wonderful addition into the neighborhood to kind of fill out the neighborhood is advanced a slide. So now I’m getting to our request to you tonight Chrisman two apartments, it is a buy right project at 83 units. It’s going to be 100% affordable family housing just like Christmas 136, one bedrooms 38 two bedrooms and then nine of those three bedroom units that were not offered but are often requested at Christmas one. At the at the request of Longmont Housing Authority and the city of Longmont, we have increased the number of accessible units from five which is 5% to 10%. So a total of nine accessible units will be available and then another two units will be hearing and vision impaired. So the demand, you know, it’s really interesting, we are proposing to do an average income project. And for those who don’t know what that is, the IRS agreed to allow low income housing tax tax credit projects to to provide housing up to 80% of the area median income. However, the caveat is that the entire project has to average to 60% of ami or below. So right now, in the greater Longmont primary market area. There aren’t any units that have deed restrictions at 70 or 80% of ami. So this project will offer both. And across the entire primary market area as well. There are only 18 units at 30% of ami, this project will offer nine more units at 30% of ami, which is pretty significant. There were a significant number of units at 60% of ami. So we while talking with the long run housing authority and chafa. We agreed to lower that number and kind of do the barbell approach some more 70s and 80s 50s 40s 30s. So we are only offering four units at 60% of ami. But 59% of the overall units are at 50% of ami or below, which is the majority of people looking for affordable housing 3.4 acres directly North that phase one Chrisman phase one on ute highway, but with a buffer off the highway. There will also be a fence between the apartment and you’d highway just for safety concerns. And it’s in a qualified census tract which gives us a 30% equity basis boost when we’re requesting low income housing tax credits. This advanced the slide here’s an aerial rendering of what the second phase will look like. So it’s going to be four different buildings. And the top of the picture is sort of looking north. I’m sorry, it’s a sort of looking southeast. So you can sort of tell them Murphy’s gas station Between the main street and the project, and then this kind of buffer zone out to the, to the north as you’re looking toward us highway. Next slide please. And here’s a little bit more of a view of the project from the exterior.

Unknown Speaker 10:22
It’s going to have balconies, very similar to phase one a little bit of a different roofline, it’s going to have a bit of a pitched roof. That is a cost saving feature that we determined after speaking with our general contractor and our architect. But other than that, it’s very similar and all of its features to christmann. One is advanced the slide. So now I’m just going to touch briefly on ngl and lhhs unique partnership. So Crispin one apartments. We partnered with Longmont housing authority as a special limited partner. They received a split of the developer fee and an are continuously receiving a split of the cash flow and the deferred developer fee. They will take over management and ownership of Chrisman one. And that was part of our negotiation with Chrisman to, we want them to we want ellijay to take over ownership and management at the same time for both. So Lj agreed to extend that ownership takeover christmann one. So it’s the same time as Christmas. Do we expect that to be in 2028? So our agreement with Chrisman to with our partnership. So what happened when we finished Crispin One is we reached out to Longmont Housing Authority. And we said listen, there’s this land just to the north. We don’t have it under control. But it’s available, it’s on the market. And at that time, there was some transition going on at the long run Housing Authority, and they determined that it was not the best time for them to move forward with another development project. So fast forward to the beginning of 2021. Long one Housing Authority reached out to mgL. And said, Now is a better time, we went ahead and spoke to the broker and owner of that parcel and got it under contract. So that’s where we’re at right now. We went in for a we went in for a non competitive chatbot application together on May 1, and we were awarded competitive bond cap from cefa. And we will be receiving our non competitive award of tax credits imminently. We’d together we determined that it was the best course of action to go forward with a 4% non competitive application to chappa. Due to the high risk of not getting an award in the state tax credit round, which is annually every August Longmont decided that they wanted the delivery of units before then, and in exchange, they were helping us they will help us kind of cover that gap that the state tax credit would typically fund. So that’s where we’re kind of at today. Like I mentioned before, we have that coterminous exit date for the ownership and management. We expect that to be about four years after Christmas to stabilizes. Again, just like Christmas one, Lh a will have this significant share of both and developer fee and the cash flow of the project. And Li j has because they’re we’re getting in at the very beginning here, they have a lot of influence over the design, the unit mix and the AMI level served.

Unknown Speaker 14:03
Please advance the slide.

Unknown Speaker 14:06
So last, we I’m going to talk about our specific request. So we have requested $950,000 and it’s split between $600,000 in affordable housing funds, and 350,000 of CDBG funds. If you can see off to the right when I originally went into chafa with our application, we said that we thought we might be able to and we thought we might need 1.2 million from Longmont Housing Authority. This number is a number that I will get into but we expect over time, that pricing what kind of level out on the construction pricing right now we have a construction escalation line item in our development budget. We hope that we don’t need to use all that. We hope that lumber pricing and other kind of commodity pricing will just level out in the next several months as everything starts opening back up after COVID. The other thing is, corporate tax liabilities have been very low over the past year and a half due to the pandemic. And that has put pressure down and decreased the demand for low income housing tax credits from large corporations. So they have, you know, taken down the price, because it’s not as nearly in high demand. So, one, we expect construction costs to kind of start, you know, at least plateauing. And then we believe that our, our tax credit pricing will increase over time. We also think that rents will increase, we were very conservative on our rents. So we also hope that those increase. Lastly, it’s possible that the London housing authority will have vouchers that they’re able to put on this project, which would also help with cash flow, and decreasing our overall ask for funding.

Unknown Speaker 16:13
Let’s see, what else do I have on here.

Unknown Speaker 16:17
The other very important thing to note is that, because we are building a phase one and phase two, they’re side by side projects, there’s a lot of efficiencies that we can realize, mainly in our property management and maintenance budgets, but also in kind of the sharing of outdoor amenity space and parking if need be. I don’t think that that will be an issue. They said what I said before, but it really is an opportunity to kind of have some efficiencies. And please advance the slide. And this is just my contact information. And I’ll open it up for questions. chat with us. It’s Danny, are there questions from staff or board members, Graham?

Unknown Speaker 17:13
Hi, thank you, Danny, for your time and presentation. I guess I’m a little confused about the cash flow repayment of the 600,000 particularly

Unknown Speaker 17:30
especially given that Longmont housing authority will be an owner, you said 2028. And based on your construction schedule, you think units will be available 2024. So the idea that if it all works out according to your your budgeting, the cash flow would happen and you would repay to your long mountain that for years before Housing Authority absorbed it?

Unknown Speaker 17:53
No, it would be a long term cash flow note. So just be paid it would be absorbed by the new ownership long my housing authority and they would just continue to pay the cash flow note. Unless they unless Kathy, you have a different idea, but I was assuming it would just be continuously paid through the cash flow. Just the same It was originally underwritten. Okay, thank you. Other questions? Sure. This is Brian may ask a question. Sure. Go ahead.

Unknown Speaker 18:36
Alright, thank you. Danny, thank you so much for the presentation. And I’m sorry that I couldn’t see the visuals. Can you I’m not familiar with your organization. Could you speak a little bit to the the way that low income housing fits into your mission as a an organization that and as a developer?

Unknown Speaker 18:58
worse? So NGO partners is made of Mike Gerber, Greg Glade, and we, Samoans they were all partners together at a firm called Black Creek in Denver doing high end market rate development. And about 16 years ago, they decided that they wanted to have more of a mission based company. However, they still wanted to be a for profit entity. So they they started mjl partners and I would say for the first several years of our existence, we only did affordable housing. Now we have kind of so over those 16 years, different opportunities have arisen and and different investors have come on board and so we’ve kind of branched out to the several different kinds of rent multifamily, so the market rate the workforce housing and the senior living. But right now about 42% of our entire portfolio is affordable housing. So we really focus on developing high tech housing. And currently, we have about seven different projects that we are in various different stages of development and under construction, and that ranges from new construction all the way to deep renovation. And then we also work in capacity as a, and that those are not just as I’m jealous, the developer, we are developers. But then we also work as a development consultant, and a financial consultant for nonprofits and housing authorities. That is the lion’s share of our affordable housing business so that the seven projects going right now are a combination of mjl on properties, as well as properties that we’re working as a development consultant.

Unknown Speaker 21:06
That’s very helpful. Thank you, of course. Kathy, I think you might have had a question or a comment.

Unknown Speaker 21:15
Yeah. Danny, when you said that the Crispin one is ballpark to get a parking reduction for that at all, or does it just mean? He did I think it meant code. Okay. But we had the property manager go out. I think it was about a month ago and count on a week night. And there were between five and 10 spaces open over the course of I think like two different nights that she counted. So that’s what makes sense to me. But um, there’s some studies going on and some thought processes that not as much parking is needed and affordable project, which I probably would agree with for a senior project, but not so much for family. So I just was wondering what that and we can check that out too, and find out if you got the reduction or if some kind of averaging or whatever happened with that? Yeah, I don’t I don’t think that we did. I think that that was sort of a negotiation with the neighborhood at the time, but we would not be asking for a reduction. In this instance, I believe, because of the level of affordability and the number of units below 50%. At 50% or below. We are I think we’re exceeding parking. The beauty of exceeding parking, and this kind of a property is there are spaces that can be turned into garden beds, raised garden beds or other kind of useful, meaningful outdoor space afterward. But I will say that just due to the nature of the location in very North Longmont, I think a lot of families might be commuting to their jobs elsewhere in Boulder County or or north and weld.

Unknown Speaker 23:04
Thank you. Any other questions? Yes. Hi. Good evening, everyone. I would just like to know if I could get a copy of the presentation. Yeah, we’ve got that we can send that out. That this stupid. Thank you. Welcome. All right.

Unknown Speaker 23:37
Thank you so much, Danny, if there aren’t any other questions, and I think we have another presentation. Is that right? Oh, yes, Graham.

Unknown Speaker 23:49
Just one quick question. How’s the law on housing authority to work with compared to Denver? Tomorrow, Denver Housing Authority. Um,

Unknown Speaker 24:01
I personally have not worked with DOJ in a long time in a partnership capacity. I would say long one Housing Authority is much smaller, there’s a lot less red tape may seem very amenable to kind of working together. I think we put together a very successful partnership on Christmas one. I’m excited for them to take over and I’m thrilled that they are willing to be lockstep with us to put Christmas on out on the market. So good. Thank you. I would add that the only reason we really considered an income averaged project like this because we have not done one of these before is because Lisa, our new regional property manager at Longmont Housing Authority, so they do them all the time and where she came from in Nevada so she was well used to them and knew how to make sure everything was in compliance. Once we take And that it’s a piece of cake, I think was her her wording. So it’s a new venture all the way around.

Unknown Speaker 25:15
I’ll add one quick thing about the average income, I want to make sure everyone knows that we have underwritten that 70 and 80% ami rents much lower than 70 and 80%. Because those are typically more at market right now. We want to give future residents the ability to make more income to still qualify, but still have an affordable rent. So that has been taken into consideration.

Unknown Speaker 25:44
So Caitlin, this is Karen. So I don’t know. Lisa, do you have anything you want to add? You want to say hello?

Unknown Speaker 25:54
No, I think Gary’s covered everything. We’re just very excited to enter into another partnership, and eventually take over management of both christmann one and two. All right, great. Thanks, Lisa. Just housekeeping,

Unknown Speaker 26:09
do you need me to stay on for future questions? Or do you want to send me an email? I’m just going to be around or as, as my portion done. I would say it’s up to you if you want to hang out otherwise, I You do not have to. If there’s anything that’s significant that we need to get from you, well, email or we will just check in tomorrow or Monday. Okay, great. Thank you so much. Everyone. Go apps. Yeah, Mike. Thanks, Danny. Good for you. Read him on.

Unknown Speaker 26:48
All right, Karen. I’ll turn it back to you. We can turn it back to Molly. Okay. All right. All right. The next center is from stonehedge apartments. We have Nicole, Aaron and Ricky here. This is the one rehabilitation project that we have. So I will let them give us an overview. Good evening, thanks

Unknown Speaker 27:15
so much for for hosting this Molly. And Karen, I know we’ve gone back and forth a little bit about this project. But we we were interested in putting out an application for stonehedge apartments, specifically because in the in in the past, we had tried to get the windows and

Unknown Speaker 27:34
the sliding glass doors replaced at this property through a partnership with energy outreach Colorado.

Unknown Speaker 27:40
And what we found was that the energy efficiency improvements were just shy of what we needed to qualify through that initiative. So because these funds are available for affordable housing communities, specifically, we wanted to get our hot in the rain here. So um, we have

Unknown Speaker 27:57
Ricky Nicole and myself. I’m an asset manager with Capital Realty Group, Capital Realty Group as the owner and manager of a property management company for stonehedge apartments.

Unknown Speaker 28:11
realty purchases property in 2012. And it’s a wonderful, stable, affordable community. We are engaged in a 20 year hap contract with the Department of Housing and Urban Development. And this property is 100% project based section eight. So 100% affordable here. It looks like we have a PDF. I’m gonna have Ricky start by just talking a little bit about

Unknown Speaker 28:34
the property. And then we’ll circle back to capitol Realty Group and sort of our portfolio wide initiatives that we’ve done and other partnerships that we’ve had with with government agencies for upgrades and rehabs. Yeah, if you could advance that slide for us. Thank you.

Unknown Speaker 28:59
Thank you. Good afternoon. My name is Ricky Garcia. I am the property manager here for stonehedge apartments. I’m just gonna give you guys a little property history on us. We were built back in 1976. So we’ve you know, we’ve been here in Longmont for a very, very long time. We currently have 114 units 113 of those are four are all occupied. One of those units is a substation for the police. All our units are we have 123 and four bedroom 12 one bedroom, 72 bedroom, 28 three bedroom and four, four bedroom. Overall footage. I got it wrong on the on this presentation here. It’s actually going to be about 297,000 square feet. If you can please advance the slide for me please. These are just some quick pictures of you know what Instead of our units look like, you know, as I said, their townhouse townhome style. So got the bottom floor Living room Kitchen. And then of course, you know, you go upstairs you got your two bedrooms and your restroom, if you could advance the slide. So we aren’t like I said before we are section a community subsidized, so we do everything in house, go out to 30% of income. And, you know, all our units, they’re there for, you know, any and all qualifying applicants, you know, we we have to on site laundry, we have this little picnic, or this little playground area that we brought in. I want to say it was 2016 2018. Aaron, actually is 2019. And it was brand new replacement. Yeah. Yep. So we just put that in. And yeah, we, you know, we’re excited, I were excited to start this project and get these windows and sliding doors replaced. Believe the windows have been in here since the, these, these apartments were installed. So it’s a long time in the making. And one thing I forgot to mention is, you know, we, you know, we just, we’re excited, we’re excited to hopefully get this going and, and bring this bring this new light to this, this growing community. That’s that’s been here for a very long time that has improved and in many, many positive ways. And so thank you guys. And then you can go ahead and advance the slide. Again, this is just another picture of, you know, the substation that we have here, entrance, you’re in an era and I will let you take it on over.

Unknown Speaker 31:51
Sure. So with Capital Realty, we own about 15,000 units across the country, 100% of our portfolio is affordable.

Unknown Speaker 32:04
All of our properties are involved in at least one layer of affordability, if not, you know, section eight, and my tech combined, or section, you know, 202, prac, things like that as well. So, that is our entire mission, we we’ve been in business since 1990. And it’s been a really good a really very, very successful ride. When I started with him about eight years ago, they only had about 24 properties. And they’ve really become a big player in the affordable housing market, specifically because of their investment in the communities that they serve. So in this case, um, you know, one of the reasons why we wanted to come to the city to appeal for funds for this project is specifically because the residents paying the utility costs here. So in 2017, we had done an extensive survey with the energy outreach Colorado, and a couple of other rebate consultant agencies as well just to see what our options were. And we ended up moving forward with a couple of great incentives. We did exterior lighting upgrades, interior lighting upgrades throughout the community, as well as added insulation in the attic units. But company wide, we work with local governments and energy efficiency, utility companies and so on very, very frequently all the time. in Denver. Right now we own a senior facility affordable called Howard spear. That’s 172 units that serves seniors and disabled folks. And we are right now in the very final stage, we’re actually waiting for the very final inspection on a project to replace the entire boiler system, upgrade the lighting inside and outside a bunch of other h Mac upgrades as well. They’re all all in this partnership between energy Ridge, Colorado, as well as the city of Denver, and the Department of Energy. So this is something that we you know, it’s kind of our bread and butter, we were very surprised to hear that, at stonehedge. The windows and sliding glass doors didn’t quite fit into the metric to get this approved in when we did that survey. However, we think that the benefits of this of this work is going to enormously benefit our residents. As I said the residents are responsible for paying the electric utility here. And although the rent is offset by that utility allowance, of course, we still know that if we can increase the energy efficiency of the windows and sliding glass doors, it’s going to lower that utility bill for them which you know we hear is a big priority from our residents. So with all of that in mind, obviously this is a much more straightforward request than the other two new construction projects but I’ll open it up for questions about about Stonehenge or capital or anything else.

Unknown Speaker 35:00
Thanks, Aaron Graham, I see a hand

Unknown Speaker 35:04
and virtual hand. Thank you. Um, yeah, thank you, Aaron and Ricky, I’m curious to understand your organization’s for this, this property prudent reserve or maintenance funds? Do you set aside money every year for this kinds of improvement? Gaby, do we utilize

Unknown Speaker 35:22
those the the reserve funds and I had actually sent Molly, I think it was a little bit late in the afternoon here. So I don’t know if she had a chance to review what I had attached. But we sent her our most recent reserve bra, do you see that that money is being utilized pretty regularly? We do, you know, quarterly draws on that.

Unknown Speaker 35:39
We invest pretty heavily in the community. So unfortunately, no, this is this is outside of the standard r&r that we might have in that balance.

Unknown Speaker 35:49
Do you have proposals from contractors to do the work and provide the windows? Yeah, we

Unknown Speaker 35:56
do. I had sent a couple of pretty outdated ones, just from the last time that we looked into this option. Um, but but yes, we have partnerships with national windows suppliers to make this process quite easy Unless, you know, because many times when we work with local agencies, one of the requirements is that we use a network of preferred vendors, which is perfectly fine as well, in this case, I think that’s pretty from what I’m understanding, that’s pretty open ended, which is good, thank you.

Unknown Speaker 36:26
I have a question, Aaron. So those bids are from 2016. And it looks like the request for funding is sort of at the high end of what the bids were. What is the plan? If the current costs for doing that, actually, you know, exceeds this grant money? What why commitment does, you know, the management company have for making up any additional costs?

Unknown Speaker 36:55
Yeah, great question. I spoke with the owners about this directly. So of course, as you know, Danny was talking about in the previous presentation, material costs, and the variability there on those cost is a huge factor right now, I also share the optimism that those commodity costs will lower will stabilize. Um, I spoke with the owner about this, you know, obviously, when we’re requesting funding, we’re basing it off of the estimates that we can produce at that very moment, the window from when we were notified of the funding to the application deadline was a little bit too small for us as we’ve been getting additional bids, but we’re happy to do so. Here. Now.

Unknown Speaker 37:32
The owner is perfectly comfortable with with an owner contribution here because he also sees the value of getting this term.

Unknown Speaker 37:38
Is there any maximum owner contribution that you would expect

Unknown Speaker 37:42
to get? now know? He thinks, you know, if, if there’s a partnership in place, there’s certainly an incentive for him to come, you know, something that he will. Brian, nice to see your face.

Unknown Speaker 37:59
You’re very kind. Thank you. Aaron, quick question. I noticed on the slide that talked about the inspections, that the the language was familiar to me in terms of trying to position something that could be misunderstood in the light that you wanted to. So my question is, in terms of inspections in these kinds of units, do you run into particular challenges with the perception that they’re inequitable that they’re targeted that anything like that? Are these just really routine and your your tenants widely accept them?

Unknown Speaker 38:44
Oh, yeah. Our tenants Yeah, this, this, our tenants are very wonderful hear about what actually what that was referring to is our obligation to the HUD inspections that we have, as an obligation to the hap contract specifically for the React inspections that occur here. One of the findings of the inspectors have during those those reacts is when the seal breaks on Windows and sliding glass doors. If there’s a condensation buildup or evidence of condensation buildup in those panes, that can be a major point deduction. So

Unknown Speaker 39:17
I wanted to just simply kind of speak to that just a hair, just to mention that, you know, there is a benefit to the owner here. The benefit is that, you know, it’s it solves a problem with

Unknown Speaker 39:28
those react inspections. But I really do feel that the biggest benefit is to the residents with the reduction in the cost. Thank you.

Unknown Speaker 39:37
Um, do you have an estimate of the rough impact on those utility costs for residents?

Unknown Speaker 39:45
You know what you don’t I’m sure that I could get one for us. I can get one for us. I’ve done that in the past. I’m just based off of the specs, you know of what what they’d be planning on installing there Other questions or comments from folks? Kathy?

Unknown Speaker 40:08
So Capital Realty Group is a for profit or nonprofit is it more like an NGO, or it’s a for profit developer. They’re not they’re not developers, they purchase established assets, many times they focus on distressed or neglected assets is kind of their bread and butter. We have a, you know, it’s been a very successful model the purchase properties and manage simultaneously. So there’s no third party management contract. The biggest benefits in the owners might have doing it that way is that there’s a direct connection between the ownership and the property operations. So I’m very successful model, they are a for profit entity, but 100% of their portfolio is engaged in those have contracts around the country. Okay. And then on our staff analysis, under accessibility, it shows 113 units are all 113, fully ADA accessible, or how many do you have? No, I apologize for the confusion on that. So the only

Unknown Speaker 41:13
none of the units would would qualify for the modern Ada definition of accessibility within the unit. But we do have 12, one bedroom apartments, six of which are on the first floor. Um, so we have made modifications to those apartments as requested. Some of them are have more accessibility features than others. But truly, only six of them can even have the possibility to fall in that classification. Thank you. Other questions from folks? Great. Thank you, Aaron, and Ricky. And Molly, I will turn it back to you for our next presentation. And Nicole was on here too. We didn’t really get to. Nicole, do you want to say anything?

Unknown Speaker 42:11
Or, you know, what, if I if I can mention the onsite property manager there for the last four years, she recently got promoted out of her role. She’s now playing a compliance role within the company. So she wanted to be involved because, of course, blood, sweat and tears don’t hedge myself as well. I’m sorry, Nicole, you didn’t have an opportunity to say a whole lot. But that’s okay. I’m happy to be here. You know, stonehedge is my baby. And I want to see it succeed. So I’m here for moral support today, I guess. Good job, guys. Thanks all very much. We appreciate it.

Unknown Speaker 42:46
Okay, so Nicole and Aaron and Ricky, you can leave the building unless you’re dying to stay, and then we’ll move on to the next presentation.

Unknown Speaker 42:56
Thanks so much, every night. Thank you. So our last presentation is from sunset element for their sunset heights project, which is over near the suites and will be new construction. And I know that Kevin is here and Scott and Chris, so you guys can go ahead.

Unknown Speaker 43:22
And Catherine was on early. So hopefully she she comes back. She said she’d be back at 745. So I’ll watch for to

Unknown Speaker 43:35
getting around you. Oh, I’m Catherine just said that she’s in the waiting room. Is there somebody on her end, please? Are you able to let her in? I am right now.

Unknown Speaker 44:46
I think we’ve got a shared screen that’s working. Maybe as expected, I’m not sure

Unknown Speaker 44:54
might be working too well. So let’s give Kevin a second to organize himself. Okay. You sorry Kevin was talking here.

Unknown Speaker 46:12
And it doesn’t look like you’re muted Kevin, so it might just have the wrong microphone on for your audio. Okay, how about that one? We can hear you.

Unknown Speaker 46:29
Good. Sorry about that. Let’s get moving. I’m Kevin Knapp. And this is a presentation for sunset heights. I’d like to start with a quick overview of the project. Sunset Heights is designed to be a permanent supportive housing community for individuals that have experienced homelessness. The latest iteration of the design includes 55 one bedroom apartments, with both indoor and outdoor community spaces for residents and staff. We are partnered with many on the project, including the boater shelter for the homeless will be the lead services provider. The augment housing authority will be the property manager in the city of Longmont, who’s provided a subsidized option agreements to the land. Along with FHA. The project began as a partnership between Element Properties and the boulder shelter with a belief in their housing first approach. Nearly three years after we started down this road, the need for the project is greater than ever. Over the last year alone, 1050 people were screened through boulder County’s coordinated entry system, the pandemic and growing local housing crisis has created a greater need for the project. Since it heights will provide the deepest affordability for the lowest incomes in our community. Having now been through to 9% application rounds, we’re looking for looking to strengthen the project before resubmitting in 2022. We believe the best way to strengthen the project and our application is to complete the local approval process in the second half of this year. We started with a modest request of $100,000. And we stretch those dollars to get us through the first two tax credit applications. The $150,000 we’re asking for this evening will allow for the design and engineering work necessary to complete the project entitlements. To quickly summarize, the demand for the project is greater than ever. The ability to proceed with the local Project Approval will strengthen the project’s next tax credit application. And a fully entitled project will be shovel ready. in cash. This view is very important given the volatile construction prices that of the other groups we’re talking about, and some of the pushback that other Psh projects have received. So as I mentioned, we have our full team here tonight, Scott Holton, Chris Jacobs and Katherine beaner. My partners and co presenters who have also been working with me on the project to the last few years. So why sunset heights. The recent update is that the sunset heights application was unsuccessful in the 2021 9% excreted route, disappointing result that we’re spending much of 2020 advancing the project. We’ve worked really hard to bring down costs after the previous number sent round, we received the feedback that the project was too expensive. That resulted in aggregate project cost dropping by half million dollars, but the project actually grew by five units. We actually picked up the building and moved it on the site, which created a substantial amount of savings. This year, your feedback received from shafique was that there wasn’t anything wrong with the project. And they encouraged us to return for another application round, or wherever CEF is tax credit allocation committee did emphasize that they highly value shovel ready projects, an indication that the project would be more competitive. If it wasn’t titled. Our project vision remains the same. We’re committed to delivering the project he committed to the belief that the best way to solve homelessness is with housing. As I mentioned earlier, our request is for $150,000 of pre development funding to allow us to further the design and engineering work necessary to complete the project Provo with the city’s Planning and Development Department. In the intent of doing that is being able to help chafa in the next tax rate application round. This project truly is shovel ready. And if we receive an award, we’ll be ready to go. Scott. Thanks, Kevin. So just a little bit more background on the project history. I not, I know that all the members of the board here are present when we started this project. But sunset heights history is now three years in the making. In 2018, we forged this innovative partnership with the boulder shelter, it was really a pitch

Unknown Speaker 50:43
to their board, between myself and Kevin. That element was able to sign an agreement for partnership with the shelter and we were on our way to work together with them to pursue ways to house people are experiencing homelessness in Boulder County. And shortly thereafter, we were able to secure sites in both Longmont and boulder for permanent supportive housing. Indeed, in 2019, we were grateful to the city of Longmont and lsj to help us with an option for the subject property located next to the suites, which has excellent attributes for housing project of this type. We’re also grateful, as Kevin mentioned, I’m sure as you all know to be recipients of $100,000 funding from this board to help get the project on it’s been. Since then, the housing crisis has only deepened and current COVID has further disenfranchise the most vulnerable in our communities. In light of these evolving circumstances, I think we’re fortunate that the community has had the sunset heights project already in process, with as Kevin mentioned, two tax credit rounds of applications under a belt. For those of you not familiar with kind of how this works, it is indeed a marathon, not a sprint. And it is typical for three or four rounds of applications before successful award for project. As mentioned by Kevin, we have one main goal for this project, which is between now and next February when there’s another opportunity to apply for tax credits, which is to further develop our plans, obtain full building permits and demonstrate the chapter that will be as ready as possible to begin construction Once approved for tax credits. Next slide, please. So our request tonight is one additional $150,000. And a promise to you that we will continue to try to do more with less. While we were able to stretch that initial one or $2,000 that we were awarded in 2019. To cover initial site and diligent costs about a third of our ultimate architectural and engineering costs to market studies and two rounds of chap application fees. We have budgeted for more detailed and costly architecture and engineering work to get the final permit and to have ample budget to make at least two more 9% application rounds in 2022 and 23 respectively. As I mentioned, it’s a marathon and not a sprint. We have contributed for ourselves hundreds of our own hours week in and week out over the last couple of years to bring this project from aspiration to reality for this community. And we are ready to roll up our sleeves further. It goes without saying but it’s still worth mentioning that neither element nor any of us individually has earned any compensation for this project in any way. But the project needs this additional funding to help us get to the finish line and ensure the chafa tax credit allocators see that we are ready and committed. Thank you.

Unknown Speaker 53:43
Thanks, Scott. So thinking about design, extensive thought has been put into the design and the services at sunset heights to ensure it meets the residents needs. Sunset heights brings together Colorado’s most accomplished professionals in designing supportive housing. included on the team our shop works architecture, and boasts among consulting each are among the country’s leaders in designing housing for those who have experienced trauma, and their expertise shows through in the building design, as well as in the resonance service programming. Additionally, as Kevin mentioned, sunset heights will enjoy the expertise of an experienced operating team. Longmont housing authority will be our property manager and the boulder shelter will be the lead services provider. Just to put it all together all staff at sunset heights will receive extensive training from both Simone consulting we’re certainly excited to have what feels like a dream team for sunset heights depicted in the graphic on the right. All aspects of the project are designed to give residents the four C’s choice, control, comfort and community Best Practices in permanent supportive housing and trauma informed design have been incorporated into every aspect of the project to serve future residents. And we believe sunset heights will be a project that Longmont will be proud to have in their community. On the next slide, just some examples of affordable housing communities that element has developed. Each of us on the team here had affordable housing experience prior to joining element. It’s a passion of ours and we’ve worked diligently together to create long term affordable housing options in our community. The first one pictured there is nest communities. we’ve converted existing 238 unit portfolio across several buildings from market rate into permanently affordable apartments using tax credits and in partnership with the city of Boulder. spark West is a new construction, affordable housing community that includes 45 townhomes and flats, also funded with tax credits and city of Boulder funding. Next one is sequel, which is a new construction, mixed use development that included 38 permanently affordable apartments. sequel was built in partnership with boulder housing partners, and was funded with tax credits. And finally up here we have tourney recumbents, which is a mixed use development, then included meeting space for Trinity Lutheran Church, a city of Boulder owned parking garage, and 15 Senior affordable apartments. element is extremely excited to bring our experience our passion and our energy to sunset heights. Next Katherine, I’ll hand it off to you for community collaboration.

Unknown Speaker 57:05
Thanks, Chris. Good evening to all of you. And thank you so much for taking the time to meet with us. We really appreciate it. In our experience, all successful projects rely on great partnerships.

Unknown Speaker 57:17
We intentionally built the best team for a brand new permanent supportive housing project in Longmont.

Unknown Speaker 57:24
The shelter will be the service provider, they have an excellent statewide reputation based on results with this community. The city of Longmont has provided pre development funds and the land

Unknown Speaker 57:37
lhsaa has provided the land and will serve as the property manager going forward. Boulder County is providing funding that will be available at tax credit closing so we can access it for these important pre development. This important pre development work.

Unknown Speaker 57:56
And as Chris mentioned, the consultants and design team, they’re the best in the business. We are proud to be working with them and excited to create a wonderful project for a long month. And our entire team and element is working on this project. It’s extremely important to us as individuals as well as our company as a whole.

Unknown Speaker 58:15
We’ve seen some results come to fruition from having such a strong team. Throughout all the public meetings and outreach we’ve already done. we’ve encountered only support from the community.

Unknown Speaker 58:26
We thank the city and Elijah for their support today and we look forward to continuing to strengthen and strengthen our relationship.

Unknown Speaker 58:33
And I’ll wrap with the three key reasons we’re asking for these funds. One, the need for housing the homeless is greater than ever, especially considering the impacts of COVID. Two, we need to move the project forward by obtaining permits, which is an expensive process. And three by obtaining permits, the project will be more competitive in Chaffetz eyes. This is a really difficult project and some funding support from Longmont will give it a fighting chance. We welcome your questions now. Thank you, Sydney. Any questions or comments from folks board or staff? Do you want to go ahead and take down your slide presentation. Thank you. Absolutely. So did everyone notice that Kevin’s background is since that height. We’d like to improve the rendering. That is very sharp. Thank you. Yes, Brian.

Unknown Speaker 59:57
Thank you Madam Chair. Just a couple questions. I’m familiar with element just in terms of seeing different projects around town, and you really do some beautiful development. So one, I have two questions, one, which is, given your luxury kind of development experience, how have you applied that towards these affordable housing units? Has there? Has there been a crossover? Do you approach them differently? And then the second question is, are these units fulfilling your requirement as a developer to meet Low Income Housing? And that is not a question intended to be prejudicial? I’m just trying to understand the context of the great graphic, please. Yeah, everybody wants,

Unknown Speaker 1:00:59
I think I can tackle the second part really quickly. No, this isn’t a meeting of requirement. affordable housing projects are important to our entire team. All four of us have backgrounds in affordable housing, we care about what it does for our community, and the vibrancy that that it brings. So

Unknown Speaker 1:01:20
this is, this is a part of our business, over half of our our company’s work in the last five years has been affordable housing. So I’d say it’s just as much of who we are as some of the luxury work. And in regards to what lessons do we bring from

Unknown Speaker 1:01:39
some of our higher end townhome projects and, and that sort of thing. We care a lot about design. And we also know that something doesn’t have to be expensive, just to be beautiful.

Unknown Speaker 1:01:52
I think everyone here knows that. Getting a project done on budget, any construction project can be difficult.

Unknown Speaker 1:01:59
And so those best practices of managing a project tightly, whether it’s a larger budget at the outset, or smaller one, managing a budget, well, managing a contractor, well, hiring the right team, working diligently

Unknown Speaker 1:02:15
to make sure that what the vision everyone has, in their minds at the outset comes to fruition, or practices that we take across our entire company’s portfolio.

Unknown Speaker 1:02:29
That’s great. Thank you, Katherine. Above that one thing if I could run, and I really appreciate the question. We’ve actually done more affordable housing than we have other types of housing. You use the word luxury, we actually certainly don’t use that word. Because we feel like it’s divisive. And we feel like, you know, the words are really important around, you know, the types of properties that we develop, and how we communicate the purpose of those projects to the community. Just as an example, for some of the buildings that we’ve managed that we own, about 10 years ago, we stopped using the word tenants, and we switched to exclusively using the word residents. And we just felt like that gave everybody who lived in the building or a greater sense of ownership. We stopped calling, you know, apartment. residences, we stopped calling them Unix. And we started calling them homes and residences. And we just, we really learned a lot, just with that diverse type of housing that we did, whether it was, you know, helping somebody, you know, buying a retirement townhome that was, you know, downtown and walkable and had very nice finishes. Yes, many people would call it luxury. And that’s fine. But you know, doing, you know, diverse types of projects, you know, whether it’s that type of project or a Psh project or workforce project, we’re always just, we’re trying to help somebody achieve something. And it’s about people and in the language is really important to us. So I appreciate the question. Thank you very much. Thank you, Scott.

Unknown Speaker 1:04:18
Other questions? All right. Thank you all for the presentation and additional information. It’s very much appreciated. Sounds like people are trying to get to the hockey game. How did

Unknown Speaker 1:04:46
you know Kevin, I think it would be helpful. One of the one of the board members asked for us to send out copies of the presentation. So I don’t think we have your slide deck. So if you could send that to Molly or Kathy or whatever. And then we will include that in our follow up to the board.

Unknown Speaker 1:05:04
Yeah, absolutely. Karen, I did send it to Molly earlier. So Okay, nevermind. Cool. Yep, nevermind. And hey, thanks, everybody for, for taking the time this evening. Your support so far, it’s been really helpful for the project and further support would help strengthen our application moving forward. So very much appreciate your time. Thank you so much. Brian, did you have something you wanted to add? You have your? Well, I did, Madam Chair. Thank you. All right. Thank you just wanted to thank you, because I do actually have a design background. And I believe that good design can be inspiring in any environment. And I feel like what is missing from so many affordable environments is actually inspiration. So I’m glad to hear that your design ethics are transferring over and creating the same level of inspiration and joy that we experienced through all kinds of rules. Ryan, that’s a it’s a great compliment. I think it’s, for us, you know, what one of our beliefs is that, you know, whether we do market rate housing or affordable housing, people shouldn’t be able to tell the difference between the two. And especially in a project like this, I mean, it comes down to the dignity for the residents, you know, everybody should be allowed to have a beautiful home, and to be proud of where they live. And that’s a lot of what’s gone into this project. Thanks. Thanks, everyone. Thank you. All right. I’m

Unknown Speaker 1:06:52
Karen, what is or Molly, I guess, what is our next step here with respect to these applications?

Unknown Speaker 1:07:01
To make a funding recommendation, okay, for to add, if you have any questions, of course, to ask those as well. Okay.

Unknown Speaker 1:07:10
That’s what I suspected. But I want to be sure. So, are there comments or questions for staff on grants? Go ahead.

Unknown Speaker 1:07:20
Yeah. And some of the applications they say they’re, they’re requesting the money as a deferred loan or a grant? And is that? Are they saying it’s up to you guys to decide what’s best? Or? Or is it an iteration of the same thing?

Unknown Speaker 1:07:37
I think it is that they would look to you as to what your recommendation would be. And that those

Unknown Speaker 1:07:45
options are what they think the project could support. So there, I mean, then there is a difference between just a straight grant, which way they wouldn’t have to pay back, and then the different loan, that some point would be paid back. So so so

Unknown Speaker 1:08:06
since this is really the first time that the Advisory Board has really been on the ground floor of making these recommendations, so typically, for the last, I don’t know, what we say 15 years, you know, this, this initial work and review has been accomplished by the technical review group. So I guess what I would also do is invite staff so Kathy and Molly to to really help guide the this discussion.

Unknown Speaker 1:08:37
Great. Yeah, yep. Sorry, I was just gonna say, Graham, we do have a

Unknown Speaker 1:08:44
with that to, you know, to help with some guidance.

Unknown Speaker 1:08:52
an outline of general generally we do grants if they are primarily serving 30%, ami and below. So we do have kind of a chart that and a guidance on what we try and try and fall into sometimes a project can’t support alone, even though it really should get alone and then you have to make some decisions around that. But so I’m going to pull up the budget for and it’s a little different than the one that you saw. Oh, I have to do a screen share first, sorry. All of these things are different.

Unknown Speaker 1:09:34
platform. Right, so yeah, this one.

Unknown Speaker 1:09:44
Okay, so this is a little bit updated from what went out in your packet just because we keep refining things and finding other things. So we’ve already pulled out funding for the rehab. program and the program delivery for that, we’ve already pulled out a set aside for housing counseling program, and to continue the security and utility deposit for homeless solutions for Boulder County and the funding that human service agency is providing to as locally funded vouchers. So those that would support that program. And then the other thing we’ve already pulled out is the ongoing payment, that we have to purchase the land nine acres of land at the Costco development that the city will be working on, on developing in partnership with I’m sure, several different agencies and entities. And then if you remember, late last year, I think it was the imagine rehab project came in and the consensus of the group was to fund it with 2021 funds, because they weren’t going to be ready, I think was the reason. And so that has been pulled out. And that would be a grant because of who they’re serving with CDBG funds. So feel well, yeah, the only thing that would change that is if they can’t support paying Davis bacon wage rate. So we’ll have to check into that. Actually, I think they fall below that limit for that. So just taking a stab at things. Um, if we keep the rehab, imagine rehab project in CDBG, then the balance left is $342,444. Right now, I’ve penciled that totally for Chrisman land acquisition per their $350,000 request as a grant. And then 600 over here and the affordable housing fund for that same project stonehedge, I have put in at 150,000. I am personally a little concerned and I’d be happy to listen to thoughts that others might have, that they are at this point haven’t put up any of their own. There are operating the project is a for profit. Having a 100% voucher supported project, they should have a lot of cash, sufficient cash to have much more reserves than what they have. And I’m assuming what happened when they acquired it is that they did not go in and do a rehab at that point in time and have been just using the reserves to do rehab. I don’t know why they did it that way. But anyway, that’s where we’re at at this point. And then 150 for the sunset elements so that they can continue to get their project through the development process, and ready for permit pulling that I think probably would make a huge difference when they go into chapter again, for that. So again, just throwing this out any ideas that people have, I’d be more than happy I can. This is a spreadsheet so I can change things around and we can see what it does, etc. So if there’s any project that somebody doesn’t think we should fund at all, I’d be happy to hear that as well. I don’t know what Molly’s if she has any additional comments to make as well. And I can’t see anybody very well. So call out.

Unknown Speaker 1:13:50
Okay, Kimberly. I’m not super familiar with the process that sunset heights element was referring to. But it sounds like they’ve tried several times to apply for support. I’m just curious if they don’t succeed, what happens to that investment that we’ve provided? And like what’s the likelihood that this actually will be developed based off of the history of that project?

Unknown Speaker 1:14:22
That is a good question. So it is not unusual for projects to take multiple times through the tax credit process because it’s highly highly competitive, especially the 9% because you get so much more equity in that. That particular project and there are program and there’s only one funding round a year. So everybody that wants to get the 9% is all going in at the same time and there’s just insufficient tax credits to to fund everything. The first project as they said, or the first time they went in, as they indicated, they got a lot of good feedback on costs and units and different things that they could do differently. They tighten that down when we went in in this February, the feedback that we got was that they really appreciated all the changes that were made. They thought it was a good strong project, they chose to fund only three permanent supportive housing projects out of I think there was six or seven that applied. And the three that they chose to fund were in communities that don’t have any permanent supportive housing already. So it’s hopeful that with the next funding round in in February of 2022, with having the the plans through and really being ready to go, pull the permits and move immediately, that would be the leg up for for that next go around. If they don’t get funded, they element has taken on the loan themselves, so they have committed to repaying it. Somehow, if the project doesn’t get funded, that they will repay it. We don’t have any collateral against it. So it’s, you know, whether we’re willing to go to the mat if they don’t. But my feeling is probably what they would do is change the project and do something that isn’t quite as it could be redeveloped, it isn’t permanent supportive, that has all of the costs, high costs associated with permanent supportive housing, and maybe make it a just a regular affordable project down there, then the investment isn’t lost, it would be repaid. You know, with that, that project, that would be my guess.

Unknown Speaker 1:16:51
Thank you. That’s helpful. That is really helpful. And is is my understanding, correct? I think I wrote it in there is it there hope with this 150,000 is really to keep moving forward on all the permits, and design pieces under the assumption that basically, by having those ready to go, they’re more likely to get this 9%. So it’s essentially this early funding to help get them closer to actually being able to pursue it. Correct. Okay. Other questions or comments? Brian?

Unknown Speaker 1:17:34
Thank you. Kathy, Can you remind me are the affordable housing funds a loan or a grant.

Unknown Speaker 1:17:43
So the affordable housing fund has to be long unless we ask council specifically to allow us to grant them. We haven’t done that very often. And I don’t see a reason to do that with any of these particular projects. So sunset heights might be one just because of the incomes they’re trying to serve. But at this point, I wouldn’t go in and ask for a grant for that. unless or until the project doesn’t go forward, or, you know, something happens that they need to, to cut costs further, making it a loan for christmann, they’re going to loan it into the partnership anyway, so that it becomes part of the equity and the basis points. That’s just the way the tax credit runs. So and even though we would be granting the CDBG funds, again, Lh a is going to load it into the project. So that it again, increases basis and equity. So those will eventually get repaid. The 600,000, the affordable housing fund loan will get repaid back to the city, granting the CDBG funds and then loaning it into the project will get it repaid to the LA J. But that won’t come back to the city. So it’s kind of benefiting the housing authority in that respect. So it’s supporting the project in a little bit different way. Yeah. Okay. Karen Phillips. So the stonehedge would that be then alone? So yes, I would suggest it could be a deferred loan repaid in X number of years or when they next time they refinance it, it could be a very low interest rate loan repaid over a longer period of time, even at 0%. Since they are serving. We didn’t get good data on actually what ami is that they’re serving. They just said 50% and below.

Unknown Speaker 1:19:50
Have you ever been those apartments? They need the help. They need that work?

Unknown Speaker 1:19:55
Yeah, I think they I think they actually have invested since they have taken Over in the property probably more so than has been for a while. Yeah. But it’s a need for sure. Yeah, I also see it with alone as a way for us to Molly said that they would agree to deed restrict some of the units as permanently affordable under our program. So having a longer term loan in there is going to protect that interest in the in the units that they were deed restrict as well. So we would have more, I don’t want to say say, but we would have more. We will be hearing if they if and when they refinance, if they do anything different with the property, we would be able to find out more quickly because we would have a lien on the property with a loan.

Unknown Speaker 1:20:53
Cool. Thank you. I just would add, we didn’t actually talk, they said they would be interested, they would be willing to have a period of affordability, we haven’t actually talked about what that length of period of affordability would be

Unknown Speaker 1:21:07
their current HUD contract goes through 2031. If we needed a repayment loan over, you know, 10 or 15 years, see what they they say they may want it to be coterminous with the section 820 31. Even if it’s that then we would at least know what is going on with the property. Whereas before we didn’t we don’t know when it sells. We don’t know what they’re thinking kind of thing. So

Unknown Speaker 1:21:39
Ram. Yeah, Kathy and Molly woods, is there going to be another round of potential applications for this fiscal year? Or is this pretty much yet? We’re intending to do another one later in the year probably fall.

Unknown Speaker 1:21:57
So if we approved these 3am I reading that right sell 35 eight, just 96% of the budget, you’re we’re basically spent are saying that the fall round would likely not get funded. But we would have 400,000 available?

Unknown Speaker 1:22:16
Okay, does it would that make you nervous? Given your history of funding rounds and previous year’s budget, should we so we try to be really cautious now. Because there’s another round coming where we could get more bang for our buck? Or, you know, do you think it would be reckless if we approved all these three, given the volume of the budget that would eat up right away. Um, I

Unknown Speaker 1:22:39
don’t think it would be reckless, I think the projects are all pretty good ones and, and are needed going forward. What we have done in the past with a late fall round, that usually goes into November, December timeframe, by the time we get everything done is that we can also look at the next year’s funds. And if we have something really good, or we have projects that come in at a million, and they’re all really great, we can go ahead and commit into the next year.

Unknown Speaker 1:23:15
But these these three would be looking for an answer, you know, relatively soon, probably next month or two. Correct. Yeah. Brian.

Unknown Speaker 1:23:28
Thank you. Kathy. I just want to follow up real quick on your comment, I think about the I think it was related to the Stonehenge development and what sounded like a lack of their own capital going on. I may have misinterpreted that, but if I didn’t, can you speak to? Does that indicate a lack of commitment like and risk sharing? Or does it potentially indicate a lack of capital resources that would be really necessary to continue development?

Unknown Speaker 1:24:10
Molly, could you tell anything from their financials or from the audit? My just off the cuff without having looked too deeply into those is that they’ve been funding the replacements or reserves that the required amounts that have been spending, I was a little taken aback when she said they’d been constantly spending it. That wasn’t exactly her words, but think that they were drawing on a quarterly and make write write very regularly. I think that’s what she said

Unknown Speaker 1:24:50
with the, the level of cash flow that they should have offered this project in the

Unknown Speaker 1:24:56
small amount of reserves, and I know you’re only required to put So many into reserves, I just would

Unknown Speaker 1:25:04
think they could afford to do a fairly hefty match of this, if that is if this is really important to them.

Unknown Speaker 1:25:19
So she did send me some information this afternoon, that I haven’t yet had a chance to look at about preserves. But she also added that in 2022, they’ll be relaying the asphalt in the parking lot, replacing concrete sidewalks and walkways. And in the units, there’ll be continuing to invest in appliance replacements, flooring, upgrades, cabinet upgrades, and other energy upgrades. So they also have some other plans coming up as well.

Unknown Speaker 1:26:00
Madeline I had the same concern. Or maybe lol, I had the same question that Brian just raised based on Kathy, your comment about stonehedge earlier? And it is I have the I mean, I do I have the same concerns. To the extent that I haven’t heard anything that has settled that or made me feel comfortable enough to to vote from the winner on that. So I guess I’m going to be listening for others. thoughts and recommendations because I don’t like with something that’s important.

Unknown Speaker 1:26:48
I just want my vote to count. And I want to make the right decision. very concerned that we make the right decision in this regard. And so

Unknown Speaker 1:27:00
yeah, I don’t know even Kathy, I don’t know if there’s anything else you can say to help us out. And then you know, you said, I think a lot. But I’m not, I’m just not comfortable with that particular one. And then the other concern was, I heard them say that they’ve been around since the 90s. And they mentioned some of the things they’ve done. And so yeah, yeah, I’ll just hold it that I’ll talk about there.

Unknown Speaker 1:27:36
And I am perfectly fine. If folks aren’t comfortable with that one yet. I mean, we don’t have good bits on it. I’m getting some information on what the savings would be to the residents and utilities would be good to know, knowing more about the reserve replacements, if we wanted to hold on that one, and have that they can come in again, the next funding round. In the fall, or whenever we hold the next one. That’s not unusual, either. Yeah, I was gonna add that I thought the like

Unknown Speaker 1:28:16
I the fact that they have bids that are five years old, but they don’t have anything newer is of concern. Right? The fact that they, it’s not clear how much savings that would give to the residents, because they mentioned that they had gone through something with the energy audits, and it was not going to be enough of a difference to qualify for that. So my question is, is like, Is that still true? And is it still something that like they couldn’t get other sources of funding for five years is a long is a long time in the realm of these things for like the cost of them. But also like, energy costs have gone up, the efficiency of those may be a lot lower, and there may be even more efficient things that would allow them to qualify for some of that other funding for energy efficiency in particular. So I feel like more information would be really helpful there to make sure that it’s we’re not just like, Hi, here’s a hunt. You asked us for money. Here you go. Like I’d like to see them do some some of that legwork to present the case of why why it’s needed. Kimberly,

Unknown Speaker 1:29:30
just extending the conversation, is it appropriate to ask them to if they are able to to come back and provide a level of commitment? Like a matching amount, is that something that’s done?

Unknown Speaker 1:29:48
Just to show that, you know, that investment as well in the project, since they should have the reserves?

Unknown Speaker 1:29:57
Yeah, we can ask them for what is the What are they willing to commit? Or you can we can go to them and say we’re willing to put in half of what it is. But you know, I’m a little disturbed by I understand the quick turnaround of the application and not getting bids in. But since that went in, and now you could have been getting those bids, and had had them ready for this meeting, to have a better idea. So I mean, I think asking for all of those things, the utility savings, the dated costs, and what they’re willing to commit, as well, are perfectly legitimate things to go back and say, you know, here’s the, here’s the issues that we had strengthen your application and come in next time. Karen, did you have a question?

Unknown Speaker 1:30:54
I didn’t think you know, the bottom line is the people that live there. And I don’t know why we don’t want to encourage, you know, whatever they need to do to get it to better, but you know, and you have messed up windows. And when, you know, I mean, I had that in my house where there’s mold and things like that. The bottom line to me is we’re helping the residents. And if that,

Unknown Speaker 1:31:13
I think I think the concern is is there a for profit company, and by it is helping the residents, but it’s also helping give them more money. Because they don’t have to put the outlay on these windows. So essentially, they’re choosing not to put the money into it. And still profiting from the vouchers and so forth that they’re getting. That’s part of my help them,

Unknown Speaker 1:31:40
we need the help that organization to do a better job of submitting or, you know, explaining to them what y’all need from them, you know, and I’ve just slept it off. But to help that company, figure out a better way to get that money so that residents can benefit. That’s all I’m saying.

Unknown Speaker 1:31:59
What I’m hearing, though, is that we expect that they should have the money to do this. And we haven’t been given enough information to suggest why they don’t, or why they would need help doing it. So

Unknown Speaker 1:32:12
yeah, I get that. But the bottom line is the residents living there. That’s all I got to say.

Unknown Speaker 1:32:20
Madeline, did you have a question? Or no? No, no, nothing other than what I did I made? Alright. Can you I think you hit the like, raise hand button it again, it’ll take your little handoff. Oh, that I’m sorry, I forgot that hand.

Unknown Speaker 1:32:38
Brian. Hey, thank you, Karen, I just I wanted to say that I really resonate with your point of view that it’s, it’s the residents that we want to help. It’s the people that are living there. And I’ve become increasingly sensitive to this idea of public funding, really transferring to shareholders, because of private lack of accountability. And I think that’s kind of what’s a big question for me is, you know, is the organization that is requesting the funds being accountable for their share of what it means to operate these kinds of things, to the extent that the money is not, it’s helping temporarily the residents, but ultimately, it transfers to the shareholders, if it’s not balanced. So difficult question, but Thank you, Karen, for raising that because I agree ultimately, to share the the residents need to be the beneficiaries. Thank you.

Unknown Speaker 1:33:54
So is the will of the group to go back to stonehedge and say we need this additional information and come in the next round. Or we could also say we need this additional information. And depending on what it comes back in, we’ll bring it back to this board. And we could we could fund it separately. Or we could just wait to the next the next funding round.

Unknown Speaker 1:34:21
Have you had support the ladder? Send them back our concerns and questions and give them another opportunity? Yeah, okay. I agree. I agree. Okay, I mean, so,

Unknown Speaker 1:34:31
so we might consider this next month or the month after, depending on when they get the information? Is that what you’re thinking? I mean, it’s okay with me. I don’t have the the the next month’s agendas in my mind to know if that’s reasonable or not. But

Unknown Speaker 1:34:49
I’ll say that that seems okay. To me. I mean, to the point that Karen and Brian were making, like if they can come back with that information for the company. You know, one of the biggest benefits is going to be in the winter. So getting it, if if they come back with it, and it’s a reasonable, like, we see all the information, and it seems like a good opportunity, then having that done and finished before the cold weather sets him has an earlier benefit to the residents. And so I think, you know, not forcing them to wait. I mean, obviously, if they don’t get on the ball and give us the information and get the bids and so forth, like at a certain point, like they’re gonna have to wait. But you know, it will also be a signal to us of like their commitment to moving it forward before then.

Unknown Speaker 1:35:36
So I’m going to zero this just for right now, then, and we can take it up later if and when they bring stuff back.

Unknown Speaker 1:35:48
Does anyone have comments or questions about the Christmas or the sunset heights ones? I think what you’ve sort of penciled in here, Kathy? Makes sense. In terms of both of those requests. The fact that both of these, you know that Chrisman has this partnership with LBJ already and it you know, the first one is doing so well, I think really, you know, just bodes well for it. I also really liked that they highlighted and I think staff highlighted this as well of them having three bedrooms that are so needed, that that is really not something and I that barbell of like income of like trying to hit those areas that are not well done. seemed really useful. And it’s it’s quite a few units. All at once. So yeah. What you have make sense to me. I’m curious if other folks have thoughts or concerns about what’s kind of sort of penciled in here.

Unknown Speaker 1:37:03
Let’s do it. Brian, I would move that we approve the Chrisman to project for 600,000 in affordable housing funds. And 350,000 in CDBG. At actually tapped the mic working off of the wrong. I interrupt my movement for clarification from Kathy. am I working off of the wrong sheet here because it seems we’re looking at 150 and 150.

Unknown Speaker 1:37:41
It for christmann it should be 340 to 444 for land acquisition, and 600,000 from the affordable from CDBG as a grant and then 600,000 from the affordable housing fund as a low interest loan, and I would ask that I have the ability, which I did not have an opportunity to do is get with our consultant to figure out what the project can afford to pay back to set the interest rate in term. And

Unknown Speaker 1:38:20
further point of clarification, they actually requested 350 in grant funds, but we because of the previous funding approval for imagine money, you only have 342, which is still pretty close to what they asked for but not exactly.

Unknown Speaker 1:38:39
Yes. So Karen, is there somebody working magic on your end that can turn that into a organized motion? Because I do do you want to

Unknown Speaker 1:38:55
do you want to move to approve the you know the remaining CDBG funds for Christmas and the 600,000 in affordable housing loan with the term term and interest rate to come. I do want to move that.

Unknown Speaker 1:39:18
We have a second. Hey, Graham seconds. All those in favor for the Chrisman to the numbers that you see on the screen. And I think and Caitlin just to clarify that that then you’re authorizing staff to to do a little more work about the terms of the low interest loan. Yes, that is correct.

Unknown Speaker 1:39:43
Based on what the the project can afford a and what makes sense in terms of the term and interest rate. All those in favor please raise your hand. This is for the Christmas To Madeline Are you if you’re opposed on Chris on the Chrisman to one? Oh, no, you’re in favor. Okay, so we’ve got everyone in favor.

Unknown Speaker 1:40:20
It’s the finger. Caitlin, you got to recognize, I know, Madeline puts up. Okay.

Unknown Speaker 1:40:28
And that leaves us with the sunset heights pre development and the request for the loan. They asked for either grant funding or a low interest loan there. So since our grant funding is depleted, then we have we would look to do a low interest loan

Unknown Speaker 1:40:49
for them. And Molly, do you remember the terms that the initial ones vendor, I think it’s 0% interest in repaid and by March of 2022? April of 2022, April 2022. So I would suggest the same terms,

Unknown Speaker 1:41:10
which is like a two year it was like two or three year term, basically. 0%? Yeah, it would be a two year term. From the time we actually signed the contract.

Unknown Speaker 1:41:27
tamale I’m sorry, for the notes. Did you say a two year term? Yes. Thank you. And I’m also hoping you’re taking notes only like you usually do. I’m counting on it

Unknown Speaker 1:41:40
is recorded to if we have. So if the if then the current one is repaid in is to be repaid? And would you say April of 2022? Yes, then this one would not be a two year term. If we made it coterminous, to be repaid at the same time.

Unknown Speaker 1:42:03
It would be the 18 months maybe or maybe a year by the time we have paperwork less than a year.

Unknown Speaker 1:42:13
So Kathy, are you recommending that it be a coterminous? Or that we do the two years? I’m kind of curious with respect to that when that next application round would be? And when they would get it to make sure that they you know, assuming they can get everything done? Can they get the permitting done that they want in a year? And will they have enough time to sort of have information on that 9% by the time this, this one comes due? Okay,

Unknown Speaker 1:42:44
so my thinking and making it coterminous with the existing one is that we would be able to amend the existing agreement and just add funds to it. And they are not likely to hear on in February 20 to 2022 until May or June of 2022. So they’re going to have to come in and ask for an extension anyway. And that way we can extend both at the same time, instead of having two different agreements with two different terms. That was my thinking of why we would make it coterminous

Unknown Speaker 1:43:24
would it? Would it make sense to have them coterminous and go ahead and do an extension to June?

Unknown Speaker 1:43:32
I wouldn’t do it at this point in time. If they I wouldn’t do it at this point in time. I’d wait. Yeah. Other questions or thoughts on the sunset heights request?

Unknown Speaker 1:43:52
Do we have a motion to approve the 150,000 in affordable housing with direction to staff to look to have that coterminous with their existing loan and the same terms? Which was 0%. Anyone want to make that motion? Karen Phillips, we have a second. chiquitos has seconded. Okay. All those in favor, please raise your hand. Okay. We got a Karen. thing that has passed.

Unknown Speaker 1:44:41
It’s everyone.

Unknown Speaker 1:44:43
And so Caitlin, did you give an official motion in regard to the stonehedge? No, we did project. So there was a there was the makings of a motion but it wasn’t a real motion.

Unknown Speaker 1:44:58
I don’t think

Unknown Speaker 1:45:00
I motion that with the stone hedge project. We return to the applicant and request further clarification and information up to an including a contractor bid for Windows, it’s updated information concerning prudent reserves, expenditure and thirdly, the amount of requests for some capital ownership given the organization as a for profit. I agree. second match. Okay. All those in favor? Okay. So approved.

Unknown Speaker 1:45:42
So Caitlin? Yes, Karen again, I’m having internet instability. So who seconded the motion? That would be Madeline. Thank you. Sorry, no problem. No, quit that Dang. Next slide. Now, it’s that dang husband, he touched the router. Oh, and now as soon as the as Abby touched the router, I have been having issues.

Unknown Speaker 1:46:13
Well, you are a lot more composed than my 10 year old was earlier today when he got kicked out of his online class twice. And he was like, literally in tears, like saying that the computer didn’t work, and it hated him. And I was like, you have to talk really nice to it. And he was like, You’re weird. Yeah, I could do that. I could have me a temper tantrum. But I will. Um, Alright, it looks like our next item is the CDBG Annual Performance Report. That is me again, and I am going to share my screen again. If I can find it, here it is.

Unknown Speaker 1:46:59
Alright, so this is really little, um, hopefully you can see it when you’re on your own screen. But this just kind of goes through and shows what was projects were approved for 2020 and or carried over from prior years, what the budget was going into 2020, what the expenditures were in 2020. And what we’re carrying forward into 2021. And then this also shows for each type of project, the beneficiaries that were supported with the project or assisted with the project, and then it does give give information as well on the percentage of admin funds that we spent the amount and percentage, the leveraging that we did, and the low and moderate income percentage of residents that were served with the the projects that we funded. So we we met our timeliness requirement that had sets, which was good, but we didn’t do overall a very good, great job of how much we we spent in 2020. And there were a lot of reasons for that with COVID. And things slowing down and stopping and our rehab program, we put a hold on because nobody wanted us in their houses to inspect they didn’t want contractors coming in. So there wasn’t a whole lot we could do in that program. And some other ones were slow as well. So it was a kind of a weird year, we were hoping to make greater strides. The admin ratio is we had about 15% of our funds spent were for admin. So that means about 85% was for projects. And then we had an over a 98% expenditure rate for low and moderate income residents that were served. Right. Hold on a sec. Sorry. All right. Let me bring up my sorry. Let me open this file. Again. It’s not Sorry,

Unknown Speaker 1:50:43
so, so why Cathy’s looking for her doc? So, Caitlin I thought it would check in I know, you know, it’s it’s nearing nine o’clock we had the site visit updates I know Deanna isn’t able to be here. So I don’t know whether if Chiquita wanted to make her report, or whether we wanted to wait until the next meeting. So I just was planning that’s asking that question actually.

Unknown Speaker 1:51:12
Chiquita? Are you in a position to go forward with any of the reports? Or would you like to go? hold off until next next month? What’s your preference?

Unknown Speaker 1:51:30
Um, it’ll be great to hold off until next month, but if you are just so anxious to hear about what I don’t remember, um, I’m ready to, you know, be submissive and give you what I can recall sounds like next month. Sounds like next month would be great.

Unknown Speaker 1:51:56
I’m pretty sure Chiquita is never ready to be submissive in any way. But I appreciate the suggestion.

Unknown Speaker 1:52:07
Sure. I think that was a good call. Thank you. Kathy, do you have your stuff ready or should? Yes. Okay. I can get back where I need to be. It’s hard to tell where you’re there we go. All right.

Unknown Speaker 1:52:43
All right. So this one again, in total shows the CDBG funds unexpended that came into the program year from 2019, which is about 1.1 million. And then we got 610,000. In 20 CDBG funds. We got about 105,000 in Program Income this year, and we repurposed about 99,000. So our total budget was 1.7. In 2020, that we had available, we had 1.1 million in expenditures, which carries us into with 730,000 going into 2021 of unspent funds. As CDB, g funds spent, or budget is a total percentage of the total budget 89% has been budgeted for housing, about 6% for planning and administration. And then we had about 5% in unallocated funds in 2019. And then this just shows, again, the funds that were not allocated in 2020. The blue is what was budgeted the red what was his what was spent so housing, you can see the difference there. And then planning and administration, we pretty much spent well, we said we were going to

Unknown Speaker 1:54:11
work that we were going to

Unknown Speaker 1:54:13
this one shows the project’s on a project basis. What was Get over here. So you can see that what was budgeted what was spent and then what was carried forward. So in, in the general rehab program, we had this much budgeted we spent this much again because of COVID and the shutdown, so we’re carrying forward quite a bit. Architecture barrier removal, we did a little bit better and getting that spent mobile home repair, same thing. And then emergency grant is a pretty small amount to begin with. The Boulder County housing counseling programs spent what they had budgeted for the our center, this is showing next to nothing spent, we did actually have some fun spent at the very end of 2020. And it’s either not showing up very much or didn’t get caught. The security deposit funds for 2020 did not get spam, because we haven’t stood up the locally funded voucher program yet. We’re working on that. In between the rehab of 1901 Cherry Street, they spent, yay. And got that project completed in 2020. And then they also purchased an additional building with the funds that they received in 2020. And then they asked him meadows, relocation funding that we set aside to support the additional what we thought was going to be additional need during COVID, to have extra cleaning extra time out of the units, that kind of thing. It ended up that we stayed within budget that we had. And so we are going to be recommending to repurpose the relocation money to offset the principal loan to make a principal reduction payment at the once it goes to final close out. And then S Meadows refinance and rehab project. Again, this was the money that we set aside and then spent to purchase the building in order to rehab that. So we purchased it out the partnership and put it back into the new partnership. This is something a little different this year that I went ahead and did. It shows the low moderate income beneficiary served by area median income. So as you can see, over 53% of the funds that we did spend, served people below 30%, area median income, about 28%, served 31 to 50%, ami, about 14%, served 51 to 80. And then we did have a few that were served above 80%. And this is primarily in the housing counseling program. Because they don’t, aren’t limited to being serving primarily low income. But that’s the way it usually ends up.

Unknown Speaker 1:57:29
And then some of the demographic data, then again, I’m not sure I can.

Unknown Speaker 1:57:41
Trying to get it so I can read there we go. So about 44% of our friends went to white only beneficiaries. We had 14% for Latino Hispanic folks. other races other than white, about 8% of our funding, elderly benefited about eight to 12% of the folks were elderly that benefited about 7% had some type of disability. And then about 15% were female heads of household. And these are categories that we do report to head on. That’s why I’m showing those there. And, oh, I’m pushing the wrong button, sorry. And then this is the CDBG COVID funding the special funding that we got to assist with COVID. So we had budgeted quite a bit of money to the our Center for rent and utility assistance for folks that had impacts from from COVID. Again, this took a while to get brought into under contract and get them going and serving folks. So we didn’t get too much of the money spent in 2020. Because of that it was all mostly towards the end of the year. We did also pay for them to hire somebody to help operate the program. And that’s what the program administration is showing there. And then we did set aside funds to support the COVID Recovery Center Operations and those funds. We have not gotten a bill yet. I think they’re still trying to figure out funding and what other sources they might be able to bring to bear. So we may be coming back and reprogramming some of the some of this COVID funding at this point in time.

Unknown Speaker 1:59:41
Do we have a sense of you have these numbers for carrying forward? Do we have a sense of like, how much of that has been spent, you know, we’re almost halfway through the year has have we actually made more of a dent in that individual assistance or anything in 2021? Do we know? Yes Molly.

Unknown Speaker 1:59:58
Do you remember just Molly’s still on. Does she remember what we? If not, I’ve got some figures somewhere I can look at it. I think they spent about 240,000. So it does look better. Once we got the bills for January, February, March timeframe? Yeah, I think it’s just over half purchase right around half of what they’ve gotten. Okay.

Unknown Speaker 2:00:25
Karen, are they going to be able to, with their remaining Program Administration funds administered? That really large amount that they have carryover? Do you know? Well,

Unknown Speaker 2:00:37
they had only asked for staffing to get it stood up really and get processes and procedures in place, they should be able to move forward. Although I will say they have put our program on hold and are now working on county funding, which has a lot less restrictions and caveats and documentation. So we do have a column to them and a meeting set up to by the end of this month to talk to them about what is the ongoing need going to be for the rest of the year? Are these funds going to get committed and spent? Or should we be looking at reprogrammed grabbing them for something else? So there’s a lot of money coming into the county for rent and utility assistance. Another 15 million i think is coming in. So my guess is and that has, again, a lot fewer conditions on it that that they’re probably going to prefer to spend that money.

Unknown Speaker 2:01:45
Quite frankly, also, is the our center administering all of that money that came into the county or is it actually across organizations that are that can access that or are they just like connecting folks to the county resources?

Unknown Speaker 2:02:01
Yeah, I think it’s more connecting folks. And Karen, maybe you’ve been on the defenders collaborative. I have I have not lately. But the county I think was not going to grant it down to the Family Resource Centers, but it was going to run through the housing helpline. I think Alberto can answer that. Okay. Yeah, so

Unknown Speaker 2:02:21
the county received, I think it total is going to be about 17 million for housing for rental support. And they’re in right now is there it is going through the housing helpline is not going through the Family Resource Center’s er center finances to Carmen, they’re referring. That being said there are still climbing client said do access the data centers help because they might need it faster than what the county can do or because some folks do to documentations may be wary of accessing government support. So that’s kind of where it is right now.

Unknown Speaker 2:03:09
Kathy, do the those are those funds competitive or do they continue to meet the needs that we’ve identified in Longmont? The county funds? I’m not sure what you mean by competitive like as an agency if I choose to serve program B instead of program a and program a was designed to meet the needs of Longmont residents? Are the county funds, if our centers choosing to focus on the county funding, or is it still meeting the needs of Longmont residents says we’ve identified or those that the county has identified.

Unknown Speaker 2:03:52
So I don’t think the IRS is choosing I think what they’re doing is I mean their referral service referral source to so that the housing helpline is the big bucket of funding right now. It’s It’s It’s more it’s actually more more flexible than CBD g funding less requirements. documentation is not an issue. Okay. So I think it’s about choosing it’s about where’s the most bang for your buck? Yeah. At this point. So it sounds like it’s helpful to Longmont residents.

Unknown Speaker 2:04:28
Yeah. And I think and I think the only thing is Kathy mentioned that, you know, staff is planning to is to plan to meet with the our center, you know, to really help I think assess that. So they’re there Think carefully. She went unstable again. Sorry. That router my hand. So so anyhow So I’m sure that we will be having a better handle on that after that may with our center.

Unknown Speaker 2:05:09
Questions. Caitlin? Go ahead, Madeline. Kathy, when you were going through the demographics you That was one category that I tried to remember, I think it was classified as other. Um, look, I’m trying to see what looking at your chair trying to see. Did it it is try man, this what are their reasons? I guess? I’m sorry. What do you say bro?

Unknown Speaker 2:05:50
I didn’t mean to interrupt if the other racist than white was the category. Okay.

Unknown Speaker 2:05:58
I am curious to know, where do African Americans fit in this in the scheme of this this information? They would fall into that one that other racist and white? Other? Are we not able to capture that and break it out to the most finite?

Unknown Speaker 2:06:16
I am finding it. Because it was fairly small numbers. I thought it was a better way to group that we do have on this chart.

Unknown Speaker 2:06:29
It should break it out by Nope. It that must be what had caused it. We can get that information. Because we

Unknown Speaker 2:06:43
that is not the category that people check on on their applications and stuff. So we can we can get that and break that out?

Unknown Speaker 2:06:56
I’d like to know because if it’s not if it’s the number is so low, then that raises a question to me as to why why it certainly isn’t that there is to me. But if the information, you know, as the information is not disseminated, then we need to do some other things differently perhaps just based on? Yeah, just based on what I know personally. Oh,

Unknown Speaker 2:07:23
Madeline went unstable too.

Unknown Speaker 2:07:26
Um, I’m kind of surprised. Thank you. Chiquita. I just want to follow up with Madeline and I think it’s important to I know where she’s coming from, I get what she’s saying. Even though we have a small population of African Americans, but we also have Asians, we have Native Americans that live in long line. And I think it will be. I mean, when we look at that, and when I’m under other, it’s like mixed races now are still in that other box that shows that we are invisible. And so these programs are out here for everyone. Am I right? And so that’s what Karen Phillips used to say. How are how is the community, getting this information knowing that this assistance is out here for everyone. So I know people who are in need, and if they don’t know that, hey, you can apply for this, you can apply for that, or this or you know, business know that? That could be African American, it could be Asian, whatever. Right? So maybe we have to do more of an outreach to that demographic. Because we hear because you you looking at me and Madeline. So we are here. You know. So that’s really important. She brought she’s bringing up a really good point. I don’t want to be in the bucks, because I’m here that’s just like saying you don’t see color. So it’s important that we do we do we know that. Y’all know that we’re here. Yeah. Any Asians, how many Native Americans how many African Americans? You know, it’s important. It’s important to me. Okay, so I just wanted to break that down a little bit in case you I was wondering why, but it may be we have to do more outreach. That I totally agree.

Unknown Speaker 2:09:25
Yeah, I think that makes I made that sense. And, you know, I think it sounds like that we you know, so our default is this is what HUD asked us to report on. And it and it sounds like we certainly have the capacity to report you know, in a more granular way with that information and that sounds like that would be super helpful for us to have and know that.

Unknown Speaker 2:09:50
Thank you. Thanks, and I wanted to Chiquita raised also just brought something else to mind. If you guys remember I mentioned to you about an Asian family that was in desperate need. And now it’s been since they originally applied. It’s been well over a month and a half, two months. Do you know that they haven’t heard not one word? One word. And I, of course, I was out of town. When I got back, I checked to say, you know, you heard from anybody, not a word. I’m so embarrassed. And so we can take it offline. I’ll talk to it because the Ella Berto was helping trying to help them and so was Adriana Perea. So um, but but out, you know what, I’ll just follow up with her. But she brought that point when Chiquita was talking. That that reminded me. Well, that’s specific, that specific situation with them. And I’m talking about a family that’s in desperate need. So yeah. So I think it lends to my thought process that we need to fix, we need to do something differently. And it hurt is doing that, then we need to straighten her.

Unknown Speaker 2:11:17
I’m done.

Unknown Speaker 2:11:19
If only we could straighten her. That would be so we would love that. All right, then the final thing that I have, and I definitely will get you that information, I will send that out. And we’ll have that for you. So then the last piece on the performance report, even though it’s not CDBG related, it’s the affordable housing fund. And this last sheet just shows again, what we had budgeted the expenditures that we had in 2021 project went forward, we had some matching funds. And then what it gets carried over into to 2021, somewhere down here. And it also shows how much in administration we spent as well. So in this particular in 2020 2020, we had a 49% expenditure rate, we did leverage about $1.26, for every $1 we loaned out and had about 14% of our funding was was admin. So things got a little balled up with COVID and making progress on on projects. But we are trying to get back on track for 2021 and start getting things going and moving forward. So

Unknown Speaker 2:12:53
I will stop sharing so you don’t have to look at this anymore. Thanks, Kathy. Are there other questions or comments for Kathy? Brian? Sorry, Caitlin. no apology. Kathy, real quick. Failure to spend funds to zap harm future applications.

Unknown Speaker 2:13:24
For CDBG, as long as we meet our timeliness standard, each year, we are not in danger of losing funding or not getting future funding. At the point where we routinely don’t meet the timeliness, that would theoretically be when they would either recapture funds or lower start lowering our grant amount. But so far, every year we meet the timeliness standards. So we just want to get on ahead of it and so exceed the timeliness ratio that we’re we’re required to do so. A couple of years we’ve done it. And we just a couple of years we just been hanging on. Met it by the skin of our teeth.

Unknown Speaker 2:14:15
Thank you. All right. Any Any other questions for Kathy? All right, and we determined that we’re going to move the site visits to next month. So we’re on to other business and it looks like we’ve got one item there. The plan to return to in person meetings. So I think we we touched on this a little bit last month and we’re waiting maybe for a little bit more information. Karen or go ahead. Maybe Karen froze again. She might have to turn off her video.

Unknown Speaker 2:14:58
It I think it’s really It’s okay, I’m not frozen. So the council is returning to in person meetings on the 29th of June. So, so it is really up to the advisory board if you want to continue

Unknown Speaker 2:15:23
on a virtual path. Sorry. So, so I think it’s really up to the board Caitlin, if you if you want an LA Berto maybe you take this, but it’s up to you whether you want to start meeting in person or not. And when. Okay.

Unknown Speaker 2:15:44
Do Does anyone have strong feelings one way or another? Anyone want to chime in?

Unknown Speaker 2:15:53
Um, I need to remain virtual for health reasons. Yeah, I have some health situations coming up very soon. And so yeah, my participation would have to remain virtual. Right. I suppose I’d say at least through not not indefinitely, but from what I know about what I’m about to face. It would be at least through through August, I’d say

Unknown Speaker 2:16:35
this based on what I know.

Unknown Speaker 2:16:38
Okay. Thanks for sharing that, Madeline. And Brian, it sounds like you were saying you’d support either option. Okay, is hybrid an option? Alberto?

Unknown Speaker 2:16:49
That’s that’s what I was gonna say. I mean, we could find a proper conference room. And I’m thinking about garren. The the one that the city manager’s office, if it’s available,

Unknown Speaker 2:17:01
to what I know is that it maybe we can do a little more research, I know that the that this, the city staff is trying to retrofit some of the equipment, so that there would be the opportunity to have hybrid meetings. So why don’t you let us Let’s do some work, and then we’ll follow back up with you. And, and give you an update on if that is possible. And and that we could, if you wanted to pursue hybrid in July, you know, we could so we’ll get back to about that. So, um,

Unknown Speaker 2:17:42
we saw Natalie’s comment, and then the fact that the mask, stuff is expiring today, my feeling is that. I mean, my sense is that virtual has generally been working well, we’ve sort of got a process here, I would suggest that we plan to save virtual for July. So we can see whether things change as more people are going out without masks and all of that. And then give staff some time to do some research and come back to us in July. with that. I sort of have this like nervous that we are removing this mask stuff. But we are not like Boulder County is very well vaccinated. But I’m a little I’m a little nervous with all the kids starting to go to summer camps and interacting with other people of like how much we’re gonna see. So that would be my thing he was would be to just plan to be virtual for July, get some more information and then revisit this then we can do that. Now that works for me. It looks like folks are in agreement there Karen Kimberly grams that sound workable for all of you. Okay. Then let’s do that.

Unknown Speaker 2:19:11
So Caitlin, the only other update I have is, is that we have received two applications for the our open slot that was vacated. And that we didn’t get it, you know, we didn’t recruit it at the time of the year and recruitment. So so it should be the council will be doing interviews yet in June and so it looks like we will be able to fill our our open seat on the housing and Human Services Advisory Board at mid year. Great fight. Thank you. That’s it. Okay. Any other business that folks have seen, I have one announcement Okay. Am I on mute? Nope, you’re fine.

Unknown Speaker 2:20:05
Okay, I’m shown it next Saturday, we will be celebrating Juneteenth in Boulder County. It’s the executive committee for African American cultural events. In conjunction with the Boulder County NAACP, and many other sponsors. We are preparing a we have designed a virtual production that will air June it the actual day of at 10am. And I will send information. Karen, should I send it to you? If you haven’t already received it. You can send it to me. Okay. An audit, great event will you know that our special guest, our featured guest is the 94 year old Miss or bully, who’s known as the grandmother of June teeth. She’s our featured guest, and many, many other exciting things. But we have recently hit another feature, we’re gonna have a flag raising ceremony at the Civic Center, 350 kimbark. That’s going to be Monday at 11am. Mayor Bagley along with the Juneteenth Planning Committee, and city council members, and just a whole host, his invitation is going out all over. And we hope to just have a great crowd out there that we will do the flag raising service, it will be filmed to be included in the production. So I’m all excited about that. Another initiative that’s underway, is we’re trying to get all of the cities within Boulder County to raise flags and fly those flags on June 19, at 10am. And the search show up for racial justice, that organization is spearheading that effort. So we’re looking forward to a great event. I know a lot of people still don’t know about john Kane still don’t know what it is. And that’s okay. Because if you watch June 18, Saturday at 10am, you will learn and that’s what we are about with a case the executive committee of African American cultural events, NAACP and all of the other organizations we got so many people sponsoring us even High High Plains bank came on board yesterday. And so I’m really encouraged by just the support and the interest. So you’re invited. Hope to see you Monday 11 at six. Thank you for allowing me to share that. Thank you, Madeline. Anyone else? If not, we will entertain a motion to adjourn. Nobody wants to leave. I move. we adjourn. Okay, second. Off we go. Thank you all. Thank you. Bye, guys.

Transcribed by https://otter.ai