Video Description:
LHA Advisory Board Meeting – October 2023
Read along below:
Unknown Speaker 0:00
Yes. I need to order at 901 They’re cooking. Yes. Yes.
Speaker 1 0:11
Generally here, Laura Sally, your Carrie snow. And then outstaffing Girl defeated. Kendra Daniels here in town. So
Unknown Speaker 0:22
he’s walking up.
Unknown Speaker 0:26
So let’s go on to item number two approval of the minutes from our September 12 2023. Meeting. Do I hear a motion? Second? Motion and a second. Any discussion on this? All right, let’s go to vote on favor say Aye. Any nays? I’m gonna abstain because I was not present. All right, number three public invited to be heard. Anybody from the public? Seeing none?
Speaker 2 1:12
Let’s go on to number four organizational dates.
Unknown Speaker 1:17
Going to be Molly?
Speaker 3 1:20
Can we move? To the budget? If you are, why don’t we do that?
Speaker 2 1:32
So we go on down to item six, Jay Adams who are inputs today is 24 proposed budget items general
Unknown Speaker 1:41
forecast.
Speaker 1 1:46
So what we’ve proposed the first, and I want to change the language like this, based on some things that we’re flying around, you know, get straight to the heart. So in the lodge, we’re technically not doing a race for the tenants, it’s more of requesting additional federal assistance, the to receive an increase unless there is a change in their social security income stream. And there are some red flags. So technically, the 8.956 is we’re directly asking additional federal assistance. We have submitted it that have not been approved yet. And I have to I don’t know if that’s did shutdown.
Speaker 1 2:47
Fact, the decision, and usually what happens to our contract dates. So when they approve it, whether it’s February 23, which has happened, they do but work so back and forth from investment, just ask for the contract date, but l ha might have to frontline money for a while for some vendors and stuff. So last year, they were pretty similar stuff. It’s only 4%. So I don’t know, repeat same reasons, but hopefully they’re seeing the same increases across all agencies as well. The next is we proposed a 5% benefit increase during the rest of the properties. And that’s because we are seeing a 5% And if not more from from all other factors like from service contracts from or anything like that. We’re expecting generators. We have some more pieces of a Chili’s. Stormwater one, we have gas that actually was expected in the budget last year to increase so we had to increase that plus add some additional performance gas have asked us how to apply that to gas increases and usually it’s published have to keep this whole process. So that’s what we’re expecting. And once again, if and we do have people that are already got the tax credit, so the tax credit doesn’t increase that 5% and 75% increase pretty face up to that tax rate. So tax credit only increases for yourself. That’s
Unknown Speaker 4:39
so individual
Speaker 1 4:43
depending on how long you’ve been here, you know if they were here, pre COVID And we’re getting increases are probably not okay because the tax revenue increasing. We instituted one specific people you actually would affect them if their income changes. Okay. So so it’s similar to if you’re on a voucher, it’s similar to pay for federal assistance. And you’re only going to pay the AMI that’s required for that Boucher. That’s allowed. But if your annual changes that’s
Speaker 2 5:24
so it could I mean, indirectly allowed. We would have to we have to have less vouchers, possibly in the future to pay out if we have to increase the vouchers in order to pay for this 5% increase, right.
Speaker 1 5:37
Well, so we’ll increase the vouchers to the current market rent. And that’s what we’re budgeting for. But until we do that, I should say we do we budget for that on the PvP side, because those are our vouchers. They say they HCB we do not we only budget against the tax. So I don’t love to unless they’re potential potential. That’s not, that’s not report language. The current rent is currently lower than I do the 5% off. So because they’re not advertisement with that, I’m watching too much. So then we go
Speaker 3 6:21
into this week. So yes, theory, yes, over time, as rents increase in your moving up, and if they don’t increase the dollar value they’re giving to us for vouchers, then yes, that actually starts reducing the number of outbreaks.
Speaker 1 6:40
And for a long time, poor X actually has additional medical. So we’re still playing catch up. At the time, yeah. So for the suites, this is the same situation, the suites, their entire portfolio is subsidy based. So federal assistance, we did receive approval from delay to increase the vouchers, the federal assistance, effective December 1, is based on our contract with them, we will be taking it to La j, we were to increase to the new 2024 payment standard. And what we’ll probably do is match what the look has actually already approved. So it’s all the same across the board. But the efficiency departments, it’s a 13.15% increase in what we requested from Dola. A one bedroom would be a 13.82% increase. Now realize these aren’t increases to the tendency to just increase the federal assistance. And then the two bedrooms armed with lmha, they’re not withdrawn. So we will be asking for 13.8% increase on those. And this is even still below the standard, this new fair market with extreme went up really big this year, from 2023 to 2012. And we’re still not there even on these really hard issues, the fair market value that we’re allowed to go up to. And it’ll include utility allowances, too. So if you hadn’t delivered its utility to your tenant that can add it to the bear market. And if it’s anything beyond that, then it’s the tenant responsibility again.
Speaker 4 8:31
So by matching the law, we’re just avoiding having to go back to them and ask for another increase.
Speaker 1 8:37
Well, so here’s here’s where we here’s a big email chain that happened yesterday, is we got to make sure that US increasing does it conflict law, federal rights as far as increasing within a year? timespan? Yeah, so we just want to make sure we’re abiding by that first. And that’s why we wouldn’t go for it either increasing. So I think we’re always going to be behind because we’ll ask for the increase before it comes out to the cashier. And once again, these are saying wait for sweets, it’s not going to affect them across their income changes. Once we receive the approval of the board, October 20, then we’ll issue notes. Next is just kind of a historical background of what tax credit increases look like. You know, 2022 is at some point 17% increase. And then for 2023, it was 5.3. So to give you an idea as last year, we did have a little bit more iron, and usually doesn’t get released until April of next year. So we won’t have to wait for what it looks like. But at units that are certified between January and April, also the off field taxpayer. So if they were never increased, they’ll see increase that by person.
Speaker 2 10:15
So that’s, so these are our rent increases or headsman increases,
Speaker 1 10:19
these attacks occur, these are tax credit increases. So these are what’s allowable on a light tech project. And so they have their own rental table that says you can do up to this amount, you’re allowed to on DVDs to go to the fair market, when it comes to home and you ask her started adding additional funding, there’s there’s stops where you can’t basically. So if somebody’s already at tax credit, rent, in federal assistance, you can’t have that person pay more in tax credit. So you can’t have them pay more in subsidies less they only pay up to that one.
Speaker 1 11:12
The other new items. So that kind of those are kind of our portfolio for properties, or other new items is we are looking to add an assistant director. It’s currently budgeted right now in our in our performer at 10%. He said Lhh. This decision will probably come down in November, because we are waiting for two more tax credit properties that have been pushed to the state which is over and Atla along with the 121 name. And I don’t know if you want to talk about that. Now, if you want to talk about that later.
Speaker 3 11:49
Yeah, so we’re gonna talk about it a little bit. So one of the things that the Housing Authority Board and the city council talked about as part of my evaluation, and managing workload, organizationally is when are we gonna get an assistant director position to help Monday through some of this stuff. So what we’re looking at is, when we look at our fund balances, we historically have been somewhere in the neighborhood of what, probably 1.7 to 2 million, but we project our fund balances out over the next two, three years, we’re going to be close to three to 3.3 million based on the work that we’ve been doing. We also know that we have two tax credit product projects in the hopper, and we have a potential project in the middle income housing authorities probably need to go there and talk about that, as it relates to the budget. So the middle income housing authority, as you all may have heard about it. It’s a new state initiative where the state housing authority to regulate housing, and primarily that’s at that 140% Ami that we’re looking at. And and so we had a project at 1.1 being submitted to go into that process. And they initially approached us about taking out a management role on that project. When we initially looked at it, it didn’t look like it matched what we were doing. So from a staffing perspective, I go boy, here we go. Another one, and we’re not interested in this, as it went through the process. There’s a provision within the statute for the middle income housing authority. Once they make it to a certain point, they notify the governmental agencies and say, Are you willing to support this? Or do you want to be tighter on because you don’t have a chance to negotiate anything in terms of what you’re doing? With state rules continue to change the ball even as we’re trying to evaluate it. So we ended up building a city council and talking about this in Executive Session, because it’s actually a city council’s decision, housing authority. So we went through and had some conversations. We also had conversations with the state. And they agreed to give us more time based on the concerns that we had with programs designed and what they were asking us to. And so we have to make a decision. Essentially, the deal is this because they’re higher income reps on this property. The state actually was housing authorities. The managers didn’t really original there. Yeah, everyone has the authority to managing and we would like to see housing authorities partner in this program in some way. You So what’s on the table for us and managing that project is $200,000 a year management fee, plus all of the staffing expenses for the property itself. So you’re not having to call into your management to get the staffing costs for the facility. So when I heard that I was agreeing to
Speaker 3 15:31
turn this down, because that’s a significant operating revenue stream coming in on an ongoing basis. In addition, we’re also talking Well, it’s not technically a special limited partnership fee. We can ask for that. And so we’re in negotiations right now. But the point on that project was, if it makes it through the middle of 2040, and we actually kind of manager, then that lets us feel some of the staff meetings that we have with our two Underground’s and donor management. And then even in the operational costs, property itself, I think, we can live within the operating budget, and actually exciting part of kinders cost to that and start bringing additional revenue sources in to offset existing and obviously, we’re absorbing and your browser was built. So when we were looking at that, it made sense with that project, and the ones that we have in the tax credit process to go ahead and willing to pay the balance for a year or two imposition started, and then know that the backfill is going to come ongoing basis with these other projects, and so kimbers Boy, it may wait a little bit, we need to really wait and see if this happens, and this happens, and if not, you’re never gonna get from the city side. But part of the need for the assistant director is you get something very similar on the city side, and staff. So on the affordable and attainable housing funds, we actually went from 10% being allowed straight and expenses 20%. So we could add additional staff and start digging into the state funding. We know we’re really competitive regarding receive 1.8 million. Affordable housing projects, our challenge is to step in. And so the city’s already putting in an additional 10% of those funds. And all of these positions are sort of tied in with this concept with some knowledge directly. The other thing is city direction on the budget. Moving forward is with about 50% of our marijuana planning, we’re actually going to create two clinical visits to promotion positions, mental health issues that we have. But we’re working on a broader Center of Excellence team with our Public Safety’s here and Human Services where they’re not only going to suites, they’re going to support other areas of the community. And we talked about our analysis or their challenges. And then we seek permission on here. Because of some of these other changes, the sleeves are actually also going out of their budget on that property was permanently dedicated there, which gives us more capacity to from the city side. So in terms of mental health services. Next year, we’ll put three conditions in the mix for all of our properties, and community adding to the resources that we have, for which we think it’s a game changer for us, not only the current housing for all of our housing units in general. So that’s your they’re all connected into this equation. And so what we would do, the clinician was specifically this leads resource specialist. The 60%, LBJ funding is kind of connected to this, but we think we do have the ongoing funding but the assistant director is really somewhat dependent on these other projects, but I think something we need so that we can focus on so that Molly and I can really focus on the development side, because we can now in terms of looking at the fundamentals that’s in the, in our pro forma of the development side, we now know what the cycle needs to be in terms of development in order to continue to add it to the fund balance. And if we don’t have that capacity, then we’re just in danger of going back to where we were before. And the vision is, this really takes a lot of the operational pieces, and we can focus on the development and really the high level work that we need to be given.
Speaker 2 20:31
So currently does the budgeting that includes the middle income
Unknown Speaker 20:36
and the projections,
Speaker 1 20:40
it will go to the council with the assistant director and then copy out that if these projects and report will be
Speaker 3 20:49
the big, the big thing with the state in the middle income housing authority was really certainty in terms of what does that mean? And if you sell it, how do we know we’re going to continue to be able to be the property manager in it. So those are things that we have to negotiate both with the developer and with the state. So that’s really good time that we have to stand over the next couple of weeks, kind of, again, to the point where we need to work on in the release on the assistant director side. But we also learned in this, that they also an application stronger housing authority as an ownership interest. And so, you know, we’ll try and negotiate an ownership interest for no financial contribution in order to make the project stronger, in addition to getting this, which then starts giving us the long term security that we need. So think that means tomorrow.
Unknown Speaker 21:50
Yeah, the first
Speaker 3 21:53
tomorrow. So it’ll be interesting. There’s some other things in the state statute that we have to figure out because it’s 80 to 120. They’re being secretive, on overall. So I think the end mix on this project is coming in just under 80% Ami, which will be interesting, where it matches what we’re doing a little bit. So it’ll be some 50% Ami units in there and seven acres. So think of income averaging this, but it’s highly likely that the state’s going to go without your allergies bat. But it doesn’t match with the Pete with the other section in the statute that says, if your community has housing needs analysis, you need to be within housing needs analysis. And so admittedly, I think the governor’s putting a lot of pressure on two staff members in the middle income Housing Authority Board to kind of move very quickly through this. And they I mean, they’ve admitted either building the planes or fly. And so the good news is, for us, it’s I think we’re helping building the plane. Because in the meeting that we had with him, it was like, Oh, this is really good. I need this feedback for the program. Oh, this is really good. And so I think the good news is, even if it doesn’t work, we’re help, we’re actually in a position to help shape the program. So it’ll just be a fair amount of work. But we do think it’s an opportunity based on the revenue stream, it’s going to come in and the other challenge for the council is they get a property tax exemption, which is where the, you know, we kind of look at what does that mean, but when we ran the numbers, and we’re looking at the value that we’re doing, it works itself out, because what it does is it bolsters a revenue stream with a Housing Authority, which means that you don’t have to put as much general fund dollars to come over. And so at the end of the day, if we can get long term security, it doesn’t make sense, financially, to sit down and
Speaker 5 24:13
tack onto that. Well, the reason that the budget piece is one reason this is on the agenda, and also that by November 15, we’re going to be trying to negotiate something that includes the housing authority. And just to make sure you all know that this is kind of a move, and it’s kind of like the the world is taking us into this business direction. We’re already touching 80% units because of income averaging. So we’re already basically there. But this is different. This is not income averaging, we’re not getting 80% units because we’re also getting 30% units. It’s kind of all ad and our housing needs assessment tells us that new build market rentals are 70 to 90% ami. So that was the initial concern is why would we want a property tax exempt? on something that’s essentially market rate here. Now, that’s the today’s scenario. Long term, having something set at 80% might be really great, you know, for the for the future. That’s what we anticipated. To qualify, right, you have to be income qualified, so it’ll be still stable and not subject to the rent increases that would go around it. But for the housing authority side, what the board would likely end up considering is a, like an LOI, from the developer to see what goes into all of these aspects on the management side. But also, you know, we’re moving into a new realm of middle income, which is weird word for Lamont right now, because it’s not really hopefully tonight will be Sunday. Really, this program, I think, was designed for mountain communities. And we didn’t expect anyone in Longmont to apply, but they did. And they got preliminarily selected. So we’re just going to keep going and write it out and see what we can manage to get the community benefit out of it. But that’s what the board would considers a this development, partnership. And B, the general direction of where this is going? Well,
Speaker 3 26:18
I didn’t think about when you have to eat unqualified when its neighbors and Ami. One of the things that we’ve seen now in two Housing Studies in Walmart, is there’s also a gap in units above market. And so we do know from two housing studies that people that can actually pay more rent are actually going into the 870 to 90% range. And so what it’s doing is starting to push them in in a different direction. And so the fact that their income qualified and it’s 80% means I couldn’t come in and rent a unit out from under somebody who is at a 5% ami. And that was something that we never talked about, but it’s really there. Because we know that’s happening. It’s
Speaker 4 27:14
kind of the California Housing in Boulder, right? They come from California sale. $1.2 billion is a steal. Yeah. Regular people who are like I can barely make one YouTube lead off to no water.
Unknown Speaker 27:26
Yeah, no, we’re dealing.
Unknown Speaker 27:28
Yeah, so this is kind of a long game.
Speaker 4 27:32
I think it’d be nice for people who know that there is not going to be jacked up and enormous amount. They have some stability. Yeah.
Speaker 5 27:40
Oh, it’s 200 unit official said that is a property for like,
Speaker 2 27:46
this is moving along with the projects already. So when is it likely to be built and start to be rented
Speaker 3 27:51
out? Through the lienau project, this is similar to Adam. So if you remember AbiWord, that we talked to you all about where it started off as the market rate for projects. And then because of financing and everything else, they pivoted and went into the light tech world. This is, this is the same way. It’s a project that they’ve been working on for a while. So in terms of design and entitlements, they’re down the road. But because of the same financing issues, they said, Let’s try for me how to see if we can go into this project. And so I would assume if they get through it and probably six months to entitle and finish the entitlements interview, it’s possible third quarter, fourth quarter of next year, because they have most of the designs and architecture work done. There’s some things we’ve got to figure out in terms of ground floor commercial. And what that looks like, to the broader downtown development. You know, we see the tension in what they want. And if you also bring 200 units downtown, the state supported then when we look at things like the first main transit station, and in the steam area on the first of May, that actually starts positioning a little differently for commercial to come in. Because right now it’s stuff have enough volume of people to really bring commercial, but we think that between that and in London Southbank station can really change the commercial profile or mainstream so a lot of moving parts.
Unknown Speaker 29:44
So apparently
Speaker 6 29:50
this is all property tax free. Has the city absorb that loss? Well,
Speaker 3 29:59
I think Generally, when we look at this, we’re estimating three to maybe $500,000 in value, not three, about three to four, four, annually, annually. And so when I talked about the fact that if you’re rolling $200,000, into the housing authority on an annual basis, and you look at what we can get out in the staffing, that actually creates a direct revenue stream into the housing world, that as we get pushed, it relieves the pressure on the city side via affordable, attainable or even general fund, and having to push more of that money over into housing. So it balances out a little bit. I think when we look at just growth and property tax that is naturally occurring, we’re not really seeing an issue, then when you look at most of the services that will be impacted like this, and you think about public safety, because they have the public safety, sales tax or sales tax driven, when you bring 200 units, and they’re contributing to the sales tax, and that will drive that component a different way. And then everything else that would traditionally be impacted by this is fees. So when we look at our utility funds and other things, the ROI on this multifamily units is much greater than single family units in terms of what revenue streams you’re bringing into your utilities. So in many ways, I think we actually come out ahead. But for the property tax, and so and if we can store other development, it is taxed. Because you’re bringing people in so think of a neighborhood grocery store that everybody wants in a downtown area, but you don’t have enough people that live in downtown to justify it. So I can create that kind of mechanisms. And that’s going to change the property tax profile there.
Speaker 6 32:06
So this is gonna open up housing for people coming in in the city. Both.
Speaker 7 32:17
So you should watch because I’m trying to picture basically she’s
Unknown Speaker 32:21
important. Reporter okay.
Speaker 5 32:33
So generally, this is not the network, the budget side is here. But on the other side, if if the board was going to be considering this business model would want to know what your thoughts are in terms of advising the board on a business model. Yeah, so it’s all kind of messed up.
Unknown Speaker 33:01
For the game passing illustrated. On Saturday, we’re going to see that we have the property tax exemption.
Speaker 2 33:24
Then I’m the assistant director SEC two. So we’ll be handling more of operational type fees as well. And then you guys will be more strategic, I think.
Speaker 5 33:36
We have potentially three projects for consideration and kind of the same time, they have something that ramp up operations.
Speaker 3 33:47
Yeah, it’s kind of I mean, you know, Eric, is totally what it is, like in the last week or so. The train of people that have been coming in to our office about different issues, and many of them are pretty straightforward. But taking the time to sit down, and you know, what we’re starting to see, it’s starting to snowball, because depending on what it is territory, Mali, or Eric and Lisa or Sarah, or myself, I’ll take some of those within, you know, the nature of equality, take some of them, instead of just having somebody that can sort of be that central point where the property managers, you know, take that low, then you can see how it sort of screaming at everyone else, or even the counselors as opposed to when you have to deal with those issues. This other stuff we’ll talk about. That does because I’ve been the trainer I’ve been and at the end of the day for me. It’s also keeping these I’m saying because I also another candidate or say, but I also know there’s breaking point to individuals, when they’re starting to handle way too much. And we got to bring some sanity with their workload, because right now
Speaker 4 35:22
so maybe this is my question. It seems like us. Yeah, definitely is a lot more operational health, if this system directors kind of tied to these properties to actually live and get out, are they going to have some flexibility to handle operational concerns? More broadly? I’m not just saying it looks like assistant director be targeted for a sense of that word, right? Because I’ve seen that pans out them and assistant director could help with app, it’s not tied to anything specific.
Speaker 3 35:59
Yeah, sometimes they can hear us. So we kind of come into that. We haven’t figured it out. But Molly’s made some changes were made. Right? Yes. So I’m always making changes for the same issue. We’re pulling all the maintenance individuals recorded releases, we’re not saying in your reporting today. And so you can see it’s starting to shake things. As we’re moving in. And, and really, it’s trying to bring that balance in everyone’s life and then tangentially connected to this. We’ve also made a change in the city. So to where we created a actually an entry level police officer, and neighborhood service officer, we’d find that but we’re Sarah in the position of actually is going to start coordinating multiple services that we have, from an enforcement perspective, still work with the housing, but being able to coordinate things like code enforcement, parking control, Hyde Park Rangers, as we’re dealing tactically with different issues, because the issues that we’re dealing with at parks, we also know are connected to our properties. Working in, it’s just bringing a Game Center of Excellence model in the right way. So you’re starting to see this new shape generally to try to balance
Speaker 4 37:42
the assumptions, you sounds like you’re completely maxed out. So.
Speaker 3 37:52
The other thing we were thinking about doing is maybe making this position responsible for some version getting, at least on paper, further away from the content down a little bit.
Speaker 5 38:10
Well, there are currently our our HCV manager is also like manager, she said, but we’re both and the compliance piece thread through every single day. Yeah, yeah. And so just having somebody to help connect those dots. So nothing falls through the cracks. And because the monitoring of all of the agencies, which is intense this year, because there was a slowdown or in COVID. And then they consider new projects, they want to make sure our existing projects are solid. And so we’ve been audited and monitored up the wazoo. And it goes through the threads through accounting through property management through the voucher program, it’s just everywhere. So having somebody help be that central Cago real on that side would be great.
Speaker 4 39:00
I mean, not to use BCHA as a caution hotel. But I mean, watching through the years as BCHA has grown and had no compliance department and, you know, a handful of people managing everything, we have broken out into specific teams. And as you add more operational costs, we’re in the business of low rent. So we’re not making a lot of money. And I think it’s good to consider this middle income housing authority because you do need operational costs to be offset. To your point, you’re not going to have to ask the city side for more money every year. Or you can actually ask them for project based funds like oh, we want to build a childhood. Sorry, we don’t need the $500,000 for operational costs. We weren’t for that, which makes more sense and feels like a better use of funds. Then operational funds by So I think it’s a good idea, I also think it’s a good idea for, for residents to have a more stable ability to grow, stay in the city, because everybody’s going east, to where it’s affordable, and you don’t want to be like boulder or everybody’s having to come in to work because it can’t move. So I think it’s a good idea.
Speaker 8 40:21
It’s probably early with from a financing perspective of the project, how they had they talked about structure and is lmha. I mean, I know you said, limited partner. But one of the things that makes light tech projects appealing the other side is you’ve got a housing authority that acts as a guarantor through the construction company, you’d like them to be involved because you think that you know, the management is going to happen the right way, as well. But if you’re, essentially you’re getting into bed with somebody on to interview the project, if you’re acting executive tour, during that construction phase, that can be a big liability. So studies as part of it, this is the state. Yeah, I’m not familiar with their program. And all
Speaker 5 41:05
that is, is very much they’re starting a housing authority from scratch, and state ground Housing Authority, which that alone, we’re like, Okay, we’ve got our, we’ve got our goggles on and make sure we’re analyzing what that can be. But essentially, the developer development develops it, the state brings in bond funds to help, which is very lucrative there, the amount of money they’re willing to pump into this is, I think, nothing we could match the city for the housing authority. And then the state buys it off the developer. And they basically, the developer makes their fee and walks. And then how that works with the Housing Authority limited partnership, and that’s where we have to do the negotiations and figure that all out.
Speaker 3 41:54
Yeah, I was wondering, those are questions I asked us, you know, so what’s the security for the depth that you’re gonna issue? And, you know, I think they floated it in the market. But those are questions we have to get answered, because I still don’t have a clear answer on it’s one thing to say we’re gonna go issue with that. All right, what’s backing the depth? Because, you know, all of a sudden, it becomes a job if you’re not pledging something to back it, which then the interest rates go through the roof. So we’ll see.
Speaker 5 42:26
So it’s not approved by the meet up by the state yet. They are they have been, they were invited to apply. They submitted an alibi. They were invited to apply, they apply, and now they are being considered for work. And part of the housing authority in the city, being in support is a major consideration right now.
Speaker 6 42:48
So seven staffing issues and restructuring. Is there anything negative about us?
Speaker 5 42:58
It’s more making sure that community benefit from that the first thing we wait is what is the community benefit for the property tax for going property tax? And then we went into that discussion about how it comes in and other ways. Okay, so that’s our second. So really, it’s just considering the the direction of the housing authority and on the business model side, and making sure that this is a solid decision to go with, because there’s uncertainty with the state with their writing the program as we go, we just want to make sure we’re comfortable signing?
Speaker 3 43:38
Well, I think everything is we’re sliding a little bit out of our model. And we’re moving more into the market great. But so morons, Floyd’s? No Notice that I said, I need to make sure that we have fun doing science to support positions, even if we draw down a fund balance, because I think a lot of housing authorities and talking to some elected officials omnaris Have you used a lot of development remedies, to sort of bolster their staffing models. And then there’s a point in time where that comes to roost. And that’s what happened here. And so I think, you know, taking a more entrepreneurial look at this, there’s a certain boy where I think housing authorities are going to have to figure out how to fit in that 70 to 80% world because that offsets the revenue that you can’t get on your life that products because I think with the way inflation is springing up and everything else we’re encountering, I’m not sure long term that the financial model just purely based on my Tektronix makes sense. And so this is an interesting way to kind of dip your toe in In the water and go, let’s see how it works. But it’s a change of model.
Speaker 6 45:08
So looking at what I’m seeing some candidates running for office seems like there’s some pushback about having health authority to begin with. So I’m kind of wondering, politically, this is a good move for us or risky?
Speaker 3 45:34
I think but I would say, I don’t look at politics, because you know, that’s not my job. And my job is to make recommendations based on what I think we need to do. And then the politics will play itself out. I think the answer I would say is having not stepped in, it would have gone into receivership and HUD would have probably come to us. And we would have had to deal with it. But with HUD, being part of the receivership program, which makes it even worse, and I’ve seen when I was starting my career and a love affair happened to him. And that’s a nightmare to deal with. Because you basically have heard sitting beside you while you’re trying to run and manage the housing authority. And so I think that’s what I would say, but also to politics. That’s, that’s why we have the politics administration dichotomy.
Speaker 8 46:38
I think it makes sense. I think it also sounds like there’s an opportunity to get a good LPP out of it, because they need, they need the housing, to get the funding. And it’s not a financially feasible project if they don’t do that. So I guess if that looks forward, keep that in mind.
Speaker 4 46:56
Like I’ve been trying to make it clear to the powers that be the business. And as the business grows, you have to scale. And if you refuse to do that, and invest in your salary, you will go under. Everybody wants to treat it like we’re a department of the county or Department of the city. And we’re not, we’re not. That’s not how this works.
Unknown Speaker 47:19
No, it’s not, I
Speaker 6 47:21
just want to clarify, if this comes into play, and we don’t choose to play in the space, we still get the facts. So there’s no real financial benefit of not playing in this game.
Speaker 4 47:38
Right, we’re better to play and get what we want in shape programs, than to just sit back and let everybody
Speaker 5 47:44
else right. So either they would get a morning and just select Private property management firm, or they would not get awarded, and it would either convert to market or just sit empty for time until it’s ready.
Speaker 3 47:59
To sit empty, that property’s got issues that I think needs to support. You can’t fully develop the property out because there’s a major transmission line. It’s kind of moving through that area, so you can’t grow the density you need. So I think that property is always going to be a challenge.
Unknown Speaker 48:23
So the budget
Unknown Speaker 48:27
custodian were giving
Speaker 3 48:32
me but it is good because I understand what budget is currently tied to have that conversation.
Speaker 1 48:40
One was not left to get all our properties clean with all the packages coming on, make sure that you were set in place the resource specialists so so what we found was, we had already spent our budgets to prevent a stone watch includes a support service specialist. So we tried to put it into the property budgets. But we wanted to continue to service for the hearthstone launch. So lmha is going to put that money this year to accommodate that request. And then we’ll see in a corresponding years how it’s gonna play out. And the reason we we did this use this position used to be split Hearthstone logic suites, but the resource specialists wasn’t the best position at this week. The clinician has more better position. So that’s why we put a clinician at the suites. We have the ability to do that. And agreement for two year agreement with the investors to not go certainly helps and clinician one fell swoop. So that’s
Speaker 2 49:55
the sheer resource specialist for change. Now there’s a condition right
Speaker 1 50:01
To change now. It’s currently at the moment. So because because we were trying to figure out exactly how we wanted to drive the path forward for all the properties, but
Speaker 3 50:18
I’m not sure. So Alexei is not picking all of the 60% out some of the properties, were able to pick some of it up, right? Yep, they weren’t. Okay, so
Unknown Speaker 50:28
60%
Unknown Speaker 50:31
to 1000? lhsa.
Speaker 1 50:34
Yeah, there we go. We weren’t able to bring all under. And that’s a full time conditional. That’s what?
Unknown Speaker 50:43
Or is it really like part time or full time?
Speaker 3 50:45
40 hours? Yeah. So. So the problem with the resource specialist is, and Sarah, you can jump in and help me on this one. They’re trained in a different way. And what were we seeing was,
Speaker 7 51:06
so the expectation, and what we saw Valerie was, she did great in, you know, providing and meeting with, with residents about, you know, maybe some other issues or problems pointing in that direction. But a lot of times, you know, there were situations where there’s folks that were really spiraling the day they met, and she had to literally put on a hat that she didn’t have. And, you know, having that background in, you know, mental health issues, you know, mental health period, you know, she was great resource piece, but we really need someone that can capture the folks that have these mental health issues and pointing in the right directions, getting the needs that they they need for that day, I mean, these people, literally every day is a different day for them. So I feel moving in this direction is definitely going to benefit these folks.
Speaker 3 52:05
Yeah, there’s a difference between providing resources and handling traumatic situations. And what we found is the position itself was a great because we have people coming in with one expectation. And they dealt with some pretty bad situations. And so then all of these are license. So in the city side, we’re probably going to have some combination of one, two and three level clinicians. This will be a one on on site, but we’ll also have two and three on the outside with them, and then working in other areas. So yeah.
Speaker 1 52:41
And realize there was a there was a state program. And I Molly can add on to this. But there was a state where we could get assistance to bring this in. But unfortunately, they were saying you should have one clinician per 1010, which we’re not even happens, the allowable to even get worn over here. So that’s where the Commission’s as well.
Speaker 2 53:09
So the three clinicians that you mentioned earlier, are those being funded by la chair, we’re just funding one through funding agencies,
Speaker 1 53:19
technically this week, so yeah. So we did do a 5% increase in inflation, and to get what I could get for utilities. So those are their structure center cycles that were but for all other services increase. We did take money by coming up with our plan for snow removal. And as snow removal is trying to figure this out, I was contracted down to the properties and the properties will actually break apart to energy to help continue this research. Funding so we can actually replace the trucks future and make sure that it’s actual service. So this brings additional revenue. And still receiving
Speaker 3 54:20
contractors Yeah, but for snow removal. Snow removal really ready to support some things and do some things that work for that are so contracting. We’re probably in deficits across all property.
Speaker 1 54:41
We don’t know yet. We have three more months. So we’re not deficit yet because we have these three months. Hopefully, we’re not getting very interested. So while they might fail your test,
Speaker 5 54:59
there’s predictions because of a super El Nino and last time there was a super El Nino there’s a 30 inch event in October. This was in the late 90s. So we know this El Nino like let’s see what happens but partial figures
Speaker 1 55:19
Great. Way worse that we’re actually not under budget yet. It’s so remote. And then we’re going to shatter increases, similar to the city of 4.61. What’s expected?
Unknown Speaker 55:47
He’s got a cool benefits.
Speaker 1 55:50
Yeah, so 4.6 Word is salary. All
Speaker 3 55:58
percent increase in healthcare. That was the case on the city side, good shape and bad cap. I think we all need to be ready for next year. We’re probably gonna go out. Where is the city self funded health insurance. But we may think about it because we’re pretty healthy. Rates are self insured.
Speaker 1 56:42
The next piece is a general forecast. So based on what forecasts we think are starting, specifically about $2.3 million. What you see as far as revenue and expenses is what’s what’s reliable. And where we expect to land. And this is all dependent upon construction going correctly, are two things have to happen or anticipated to happen. And then kind of it just flows like so where we want to get is to a point where we have enough properties that are either recertification so that you have a stamp at each time or you’re brand new developer. So we’re building that right now. And as we started this, we start building ways to fund operations. So we try to do our best with everything over Tax Credit Wise, how have come into place, and yet we don’t necessarily look over communities, but we manage what our current properties are getting today. And then I just kind of did me staring for a response inflation forecasts across the board. And those are the ones that are highlighted are so much forecast. If they’re in Blackwelder, specifically at that particular
Speaker 3 58:37
time, so for you, I think what it’s also telling us is it’s telling me depending on like if if something gets approved, then the stack screwed around with the stock or flocked to the next round. But we need to start working on her next project to get that going in the hopper so that we have about 26 projects. Likely that was probably going to be the old world in Park City has affordable housing. So we were really happy for that. So it’s probably one of the variables of the project. And probably they also probably got the word real first name in translation and other IGN parts. So that may be a more complicated negotiation because we may start shifting sites and other things that we did have been on them for the next
Unknown Speaker 59:49
how far load balanced reasonable, like what’s kind of your
Unknown Speaker 59:57
your low point
Speaker 3 1:00:03
So when I look at 2030, you know, I would like to see some development projects coming in. I’m pretty good at 28. You know, so I would like to see another project come in. 2.8 ish. Yeah. I mean, because these when we came in, they were down 1.2?
Unknown Speaker 1:00:37
Well, they rock. Yeah, so they were definitely right that was.
Speaker 3 1:00:42
And so no less than probably two, seven. But what I want to see is an incremental increase every year. So when we’re looking out to 2030, I want to see, hopefully, 2030, probably, if we get another project coming in, that’s going to shift 29. So hopefully 28 becomes like 3.3 3.4 29 becomes three, and 30 becomes 2.8.
Speaker 1 1:01:14
And it gives you some guidance on what actually is included in that very top number, the 2.3. Normally, you take your assets, your liabilities and each fund balance, we can’t do that with the housing authority, because our assets are so inflated by all of the funding portfolios, receivables out at these other properties that are coming in, I can take those notes receivable, so basically, current assets, so that items coming in. And then it’s all of our liabilities that are currently on the books, both current and long term. So that’s what the 2k three is. So cache lines are liabilities. Yes, yes. Yes, that 2.3 is with the fire of 1000. That is accepted for
Speaker 3 1:02:05
the other thing is there’s probably another 1.2 million on the potential sell for I would that’s not in this number. And so whether it’s TCP or some combination, that’s also in the back of my head, too, when we’re looking at this, the template for that percentage of people with disabilities is
Unknown Speaker 1:02:29
not correct. So if we sell Broward would inflate those numbers by $1.2 million, which want to be right. And then we’re just looking at this project was key pushing that out. But if
Speaker 2 1:02:51
we just say, you know, 2029, we see that dip below, like a 2.8 million where we want to see so we should have something in the hopper than at least 2026 months, like three years right?
Speaker 3 1:03:03
Development. So you got to work backwards. Yeah, yeah. So this is now setting the development cycle for us, which they never did. Yeah. To say, All right, we know no later than 27. We’ve got to have something on offer. Which then lunch, if you miss a lightning round, and gives you the flexibility to get into the next round. This is all depending on the election. This also isn’t including the management role on the if the election passes, and we do the water project, the Housing Authority will have a similar role in terms of management fees and operational revenue on that project. So you can see we’re trying to build in a lot of different options.
Speaker 5 1:03:52
Is everyone familiar with the why and the election is all about we haven’t talked about it in depth at all here
Unknown Speaker 1:04:05
I think here
Speaker 3 1:04:13
right now, yeah, so So generally what happened a few years ago is a few I remember Centennial was close for most of the summer. We had any number of issues occur with that fold into life. We had different recreation groups coming and saying we live in the rec scenario. We did some polling. What we said the council is incremental funding that they have coming in the budget can absorb new projects. So if you want to if you’re going to need to do this. We thereby it sort of floated this idea. They’re actually closing on a deal in the screens. They have a version of this with Johnstown. Leave, they’re doing live in the woods, Cheyenne. And it’s really more prevalent in the Midwest. And so what they do is they actually use the Y tech world to help finance the construction of a y. And so that the superstructure the housing is involved. So when you’re when you’re looking at the cost of infrastructure and things like that, the lights that help support the other project.
Speaker 5 1:05:31
recreation facilities are part of basis, because it helps to serve the residents.
Speaker 3 1:05:36
Yeah. So they brought this idea to us. And so for $12 million. The deal is basically, it’ll create about 100, affordable housing units. And I’m having to be really factual here. 100, affordable housing units, a swimming pool, in a replacement manual, and it will also include an ice rink, expanded early childcare, say the number of spaces really childcare. And it will also childcare housing is cool in there, right facilities. Part of the the agreement is is the Walmart residents will have access to it at a reduced rate passholders will have access to it and even further reduced rate. To give you an example, we put $8 million in and presented that to council person to do that, that was basically taking the pool out and creating court space. To redo the pool, we’re looking at about 23 and $25 million. And so this to the council, everything, correct, I mean, that’s kind of what the council was looking at. So. And if it passes, then part of the deal is, is that the Housing Authority will have management over the affordable housing units, which then similar to me how project management fees and the cost. So you know, that’s a potential another revenue stream coming in the future? Isn’t a land swap two choices? Yeah. So. So actually, I forgot that. So they’ll also be a land swap. So they’ll take the land where Centennial is will actually take the land wherever it is. And then the council has the choice of that land of creating for sale of attainable housing. On that land that really was attainable housing program, or it could be a mix of affordable and attainable for them. I’ve actually provides counsel on that. And I think if you do that switch, you looking for sales, and you’re putting in affordable rental here you want to look at for sale here, not to overload an area. But ultimately that would be so that’s
Unknown Speaker 1:08:01
it anybody else have any other questions on the budget or
Speaker 2 1:08:10
position? Protection? Have we covered that all of the middle income housing authority tips?
Unknown Speaker 1:08:19
So why don’t we go back up to
Unknown Speaker 1:08:21
number four organizational updates?
Unknown Speaker 1:08:26
No organizational updates thing.
Unknown Speaker 1:08:30
Number five development and project updates.
Speaker 5 1:08:33
So we’ve now kind of talked about the two light tech projects. We know that November 3 is when we’re scheduled to participate in the center of covert crossings in the interview with CHAFA. So that’s happening. So we do expect to hear about that in the month of November. So maybe fire. We have a board meeting November 3. Yeah, hopefully we can announce at that point what the results were. And then at what should be at the same time, but they’re they’re doing on their own.
Speaker 3 1:09:07
The the holder project. So we know we went back and forth enough early childcare. We’re basically at a point, by November 3, we’re trying to get some answers solidify on funding for early childcare, because that actually makes the projects a lot stronger. But because it’s not in a quote by Census Tract, we’ll get included in basis if you remember so we’re having to try to find other findings. So we know that there’s a couple of foundations that are interested in it. One of the things we were able to work through and again, this is a council question that will take too long but based on their position on early childcare and affordable housing. I think well I may not have to resist the carpet but you Well we were able to do is looking at what money we have available on artwork funding, the interest earnings that we’re making on the harbor dollars that we’re holding, which under the federal law, we can utilize. We’ve restructured some things. And we think in that being that mechanism, we may be able to push in anywhere from four to $550,000, into the early child care piece, which then when you start taking what the foundations are interested in, we think by November 3, we’re gonna hopefully have that gap filled, which then should make us put us in a stronger position on that project.
Speaker 5 1:10:40
That’s really the goal is to show up that day and say, I told you it funded and funded. So please, it works. Otherwise, moving, still moving on design, getting as much done as we can, because we know that even if we’re not successful and tax credits this year will lie next year, we’re just keeping moving, because Penrose is also willing to keep extending funds, knowing that it’s a sure deal, this was win this year, and next year, or what to do. For village place, village on Main is what the new name will be. We are closing right along, we just got our construction estimate yesterday, which was pretty exciting to actually finally go through our wish list of everything that we wanted and start making some final calls on what we’re going to be able to accomplish. And it’s looking pretty good. We budgeted conservatively, and their numbers are right in line with what we had in mind. So no big surprises. So we are going to get some of those wishlist items. We’re just we’re meeting with the entire design team tomorrow to start nailing down that the whole closing resolution package is going to the board October 17. So we talked about a couple of those things last month with you all the loan forgiveness and things like that. Otherwise, it’s just making sure the bond stuff is all lined up and ready to go and approving all the loans in partnership with everything. So we’re ahead of schedule and partly because Katie is a basic for one and be pushing pretty hard because she’s due to go out on maternity leave before closing. So just getting everything lined up currently, which is awesome.
Speaker 3 1:12:25
On that note, we need to get together with Jeremy Kimberly the coffin street team and more like you and listen because of the Stoke, county Harkey, we’re going to have because at that time, we’re going to lose gold and we’re going to process retail and we need to
Speaker 4 1:12:51
convert and might be interested in leasing, or selling spaces. So that might be your first I would approach him first, unless the county will give it to you.
Speaker 3 1:13:06
Well, what we’re what I’m thinking is if we can get the residents from the village place in the county, important garage because it’s closer, and nobody Kimberly can use for APA some of the other spaces were further away but we’ll make the connection on that Friday.
Speaker 5 1:13:36
So glad that midwinter is very nice to hear. On that note, so we’re gonna talk to BCHA because we’re now we’re nailing down everything the timeline, we will be doing redoing the parking lot in as soon as the season. So at some point, probably June. So we were gonna certainly talk about that, at least for that timeline. But then we’ll run about trying to use spokespersons for that were received deputy sale is moving along and a targeted to complete by November 30. We’re just moving through all the elements easements and access and they got their survey done. property boundaries are not a problem. It’s good because Old Town and everything it looks like on a map, but all the buildings are often properties and that whole block and other blocks, but that’s moving along smoothly. We’re meeting meeting with the residents November 17. To start going over the detailed relocation plans. We have a hotel that we’ve partnered with and are contracted with we’ve got movers contracted. Really we hired consultants in two realms this go around relocation and overdraft services and it has been money absolutely well spent. And because of it everything is moving I predictably and on schedule and within budget, and it’s just really going well. So not to knock on that everything else. Right. And then Cydia had completed a groundbreaking ceremony since they are officially going vertical. And we’re just continuing to work through construction issues as they arise just coordinating between Sweden and Estonia, they relocated the the people out there that the residency 70 Looks great, it’s still accessible when everything’s going generally pretty smooth. It’s it’s construction, it’s never perfect. But we’re doing the best we can to make sure the residents are doing okay, because this is particularly impactful for this population. And then we’re starting to prep for Lisa, we’re talking about security deposits, and I’m talking to MHP. About Lisa, their vouchers and that sort of thing. So we’re prepping for that. And again, Lisa is expected at fault when he’s coming for opening the building I think that’s it.
Unknown Speaker 1:16:25
Seven resident quality of life.
Speaker 6 1:16:42
Concerned to see.
Speaker 5 1:17:01
Somebody I can talk to Lisa about that. Parking assignments have been a hot, hot topic it was placed for a long time. We officially have enough spots, that we don’t have one spot for every unit. We do have enough spots with a number of residents that live there today that have vehicles, so we could assign some visitor parking. Let me talk to Lisa about that, though. And bring that to her to see if there’s concerns because there’s just it’s it’s hotly contested anyway, and they are in an urban area. So that is not an uncommon challenge. But let me bring it up to the site and see if there’s flexibility there.
Speaker 3 1:17:45
I think that one, we want to be careful because we know at times, we can very quickly move into not having enough slots. So changing it to parking there. And then when you get on the street. If you change it to four hours. The reality is anyone can use it. And so it’s I can’t restrict it. Yeah, that’s so we can’t necessarily restrict public parking areas for people with residents that village place and so it was never part well, it was built is kind of the problem.
Speaker 6 1:18:28
Tell you the question I had was my decision. was, I think I would I heard at that same meeting was getting really busy. Because part of the problem they’re having a homeless camp now. Is that an issue everywhere else? anywhere else?
Speaker 5 1:18:49
Not at our properties is eco village place. It’s not actually on village place property of the city side. And so the city side is looking at removing his ego due to issues that we’ve had. But it would that area would still be there with plantings cleaned up, though. We don’t have that a similar problem at the rest of our properties.
Speaker 3 1:19:14
We do have that issue across the city. And so Sarah is. And I always forget what this actually means but deceptive certified. And so last year, we send about five staff members to the septet conference in Florida, and we’re sending another group this time. So anytime we work on a project and we design it, we’re going to bring septet principles into play in that project. And that’s really being very specific to design, any kind of project whether it’s a housing project or park, open space, keeping in mind those principles so that you don’t create an attractive nuisance where those issues wind up Oh, and so yeah, we see a hard assumption. We see it in various areas adjacent to ability to compete, or thing. And so yes, we see it got a Housing Authority properties. But we’re shifting into really incorporating that stuff, different schools. And so it’s lighting, sightlines, landscaping, all of those issues. You, you really are very focused. If you look at the Roosevelt, Roosevelt Park and the memorial Memorial Building. A lot of those bushes are now gone and you’re changing the plantings is because that was the same issue there.
Unknown Speaker 1:20:47
Let’s go on to number eight, then Elijah report update on operations.
Unknown Speaker 1:20:56
I am filling in for recess.
Speaker 3 1:21:01
So I’m always you know, that I’m gonna take one thing that Sarah and I’ve been talking about, it’s actually this area here. So we are seeing a lot of consternation, because in order to get parking permits, your cars have to be legally licensed. And so what we were finding is that there were cars that didn’t have registrations, there were cars that were inoperable, in order to get the party permit him to tell us that some people are choosing to move their cars in the street. I actually had coffees and count coffee and conversations with both of these properties a week or two ago. And I specifically said, you know, let us know, if you’re having issues, we’ll try to figure it out. You can’t park on the street, because if you park on the street, then you’re opening yourself up to getting ticketed, getting towed whatever it is. We’re seeing some issues where folks within these units are blaming each other. But the reality is I think it’s probably people that live in the neighborhood and potentially even there’s two HOAs in this neighborhood, the South HOA and the North HOA. I wouldn’t be surprised if the HOA the North HLA is not playing into this a little bit. And so yeah, people when they do that, and it’s not registered, and it’s inoperable. People are calling. And so it’s turning into a bit of an issue for us. But the reality is, you know, we mortar, we’ve told them, we’ve said we will help you. But it’s going to be an ongoing challenge with Sarah, Lisa and myself trying to work with the residents here.
Speaker 4 1:22:57
Even reaching out to the HOAs and doing a good or do you think it’s you know, they just kind of Stonewall New York, Sarah,
Speaker 3 1:23:05
probably a little of both. I will tell you. I actually live in this neighborhood and I’m in the south HOA and the North HOA Greg to the south HOA because the native grasses instead of bluegrass at one point, and so
Speaker 3 1:23:25
so interesting relationship. So, but you can see the residency. And I mean, we see that all over town, and and we’re also getting uniform complaints from the community about unregistered cars. Yes. So I know that’s something that when they have time they’re trying to deal with. So what we want to do is get them help.
Unknown Speaker 1:24:00
And are we running on the same issue that Spring Creek as well?
Unknown Speaker 1:24:02
Spring Creek is one of the biggest issues I haven’t really heard anything, I just kind of want to hear it. Yeah. Working
Speaker 5 1:24:22
great. Yeah. So for the Occupancy Report, overall, we’re at 93%. If it weren’t privileged place where we’re holding units purposefully, the 94% We do have there’s even see that the methods are on here. All of them are being worked on including the one that’s the gun the longest, we’re partnering with Habitat for Humanity to help do some of those renovations using their resources and contacts which are coming in much better in line on budget time. So we’ve got a lot of construction happening, or cleaning unit construction. I would say that we know that there are more vague Since then usual asked him out of senior and there’s more coming because we’ve had some wave of residents pass away there. So we’ve got some more coming, the waitlist is being managed very closely for all of these that are rentable, for example. And just got word this morning that currently the Fall River waitlist is at 76 People Spring Creek Creek waitlist is at 55 people. So it takes a little bit of time to work down those because we’ve talked about those those challenges before people putting themselves on, but they’re not actually taking the units. So we’re working through it. And we’ve got a lot of activity happening on the net contaminated units to get them cleaned up and back on the market. So if there’s any specific questions, just
Speaker 6 1:25:52
so 96%, and we have a 94%. And we have about 6%. Today considering taking out the message changes. I was talking to one of the bigger project management companies last quarter. And they were freaking out because There literally is about 4%. That’s way too high. So how is it our rate so high?
Speaker 5 1:26:19
Well, actually our goal, our goal has been reached to reach 95 consistently. First of all, we do have a majority of senior properties, which do ended up having like our family properties don’t have a ton of turnover. Because the family generally they don’t have anywhere else to go. And it’s either properties the fact of life is most of our vacancies are from people either moving out to be with family or passing on. And so we have a different situation to consider there. But generally being at 96% has been our top performance. And that’s been considered extremely well performing on a high tech side. Would you say that sounds about right.
Speaker 3 1:27:05
I think it’s the overweight and age restricted units. And I think if we were more balanced, we would probably be a little bit higher tamales boys. You know, when you look at age restricted units, mortalities big piece, living into assisted living is another piece moving in with family, instead of assisted living as a piece. So anything you have just more yet the likelihood of life changes impacting someone staying there is is more prevalent in a district to units. And then when you fill it, chances are same things gonna happen. And so I think that’s the difference in this versus traditional market rate where you don’t have all of the annual income restrictions.
Speaker 6 1:27:56
So originally understood. We look mostly for lease violations right now money.
Speaker 1 1:28:06
I mean, it goes both ways. For the most part, our evictions have been methylated or criminal related. But yeah, if we see that pattern happening, and they’re not paying, I mean, we have people not paying and they’re not even living there anymore. They’re, you know, we’re finding they’re in Florida, or you know, there’s somewhere else.
Speaker 6 1:28:28
I’ve been studying the eviction lab with the university back east and I just got into public housing. So what’s going on? So
Speaker 3 1:28:37
just curious questions knows, yeah, most of ours are behavior related evictions and you have I can think of maybe one or two that we’ve done for payment, but now most of our evictions are behavior related
Speaker 6 1:28:51
reasoning. And that got my attention with some of the studies I’ve been reading Polly talking about money related actions. If we for so I make sense. We don’t have a lot of money related because of the vouchers. I was a little surprised that that doesn’t seem to be the national trend. At least a little bit I’ve learned so far.
Speaker 1 1:29:15
Well, sometimes it ends up starting and ends up being that so
Speaker 3 1:29:23
much work I do I do the family properties where we have evicted well. I think we’ve had money related there. acid in a neighborhood and so I think the more family unit you have probably the you’re gonna see more financial related evictions versus age restricted, it’s a different profile.
Speaker 5 1:29:47
And when it’s when it’s due to non payment, we go through a lot of steps before we get there trying to do payment plans or or work something out with the family, that type of thing. So
Speaker 1 1:29:59
another thing When I also found out Lisa’s percentages are different than mine, because what I budgeted is based off of a certain percentage our mice, and it could be the vacant units, she’s gonna knock units, I’m gonna knock dollars. So our vacancy rates are much lower on $1 wise because it could be 60% units that are higher vacancy dollars. So it’s hard to make our members why we found that we were able to budget
Speaker 8 1:30:32
properties where you have a waitlist, you got people that put their name on, and then they don’t take the unit. Once you find somebody that wants the unit, what’s the compliance term time to get them in some certified to move in?
Speaker 5 1:30:45
That’s pretty quick. Our goal for unit turns generally is more about prepping the unit, the income qualification is not the driver that and typically by the time we get somebody off the waitlist, the unit turn has already been completed. So it’s they can fill it as soon as they’re available. As soon as the person is available. I’ve heard
Speaker 8 1:31:05
of another larger Housing Authority, that’s the bottleneck for getting properties to their clients really great. Yeah.
Speaker 5 1:31:12
Well, it’s not so much the the actual income qualification that the community managers could do it next week in a heartbeat gets more working down the waitlist to get somebody who’s actually meets the qualifications and is ready, because some people will, they’ll be in Florida and sign up here. If they can, it could take nine months, and then they come up and they’re like, Oh, I’m not ready for six more months. I move on then. Or they just got house and did not take any information. So we’re trying to do cleanups for that to just reduce the number of people we call just waiting to hear.
Speaker 1 1:31:47
Well, it’s because it’s waiting for sure. You know, we have a power fight right University units. It’s too so you branch out, we’re still we’re still struggling? Checked out around? Yes, we are at
Unknown Speaker 1:32:15
another question, I have a book how, how soon are we aware
Unknown Speaker 1:32:20
that there’s gonna be a vacancy? Is it most time
Unknown Speaker 1:32:23
this district ended?
Speaker 5 1:32:25
Some people give no as if they’re moving out. I would say maybe that just because there’s not as much buzz around it. But getting notice of a move out is more and much more rare than somebody passed away. And then you have to wait for the family to provide possession and that type of thing.
Unknown Speaker 1:32:52
So that though, I had a meeting with the folks that are doing our zero
Speaker 3 1:33:09
that SharePoint, Salesforce, so we’re using Salesforce for just a sliver utility, and we’ve been working on it, which is really about the health of the individual generally. And so we were partnering with the CEO to try to figure out what is it that we need to do at the time we started the project, really, Salesforce was out there in terms of healthy social issues, they now have a portal for that. And so based on what we already have with ourselves working platform, we’re looking at separating that and now some of the dots that we’re talking about when so when we have issues with the caregiver, one is caregiver to exterminator three, we put that kind of information in Salesforce they can do restatement, release of information so that as the Housing Authority has seen, we’ve been surrounded so when somebody has a better version of Allah, we will have Mexico available to us to contract immediately when certain provisions for helping an issue with the properties we have needed today to deploy Molly Brown out here with family connected will have all the right information. Because we’re using for utilities. It’s also phone enabled. So the phone numbers I have with us so for the housing authority. It’s really a thing that allows us to provide better services for the residents that we have salaries in the fire departments always respond to somebody, and they see something they can actually communicate with us so that we can bring in the right social services to help that individual. So we’ll know about three hots, how about some grocery accelerate how we serve our residents, and how we bring the full breadth of decision in serving. Reality is this could be for any woman just FYI, working on the city side on something that doesn’t stand up in
Speaker 5 1:35:51
public health and safety updates, and I’m gonna work in combat for saris, and she had to take off. Speaking of that, this one rolls into that we’ve been working on the release of information between us and mental health partners suites, because that’s one of our big struggles is that when someone is in crisis, we’re having an issue, we can’t share information. And so we’re trying to roll out its voluntary release information process so that MHP, and this property managers can talk to each other about what the resident needs. So that’s been rolled out. And that was a big effort across the public safety and legal and everybody to make sure that that was done properly. And we’re going to start rolling that out across all of our properties, too. It’s still voluntary, but it can really help when someone is in a crisis situation, get them through it, so that people with resources to help can talk to each other about it. So that’s coming. She wants everyone to know that there’s fire drills happening. I thought in the elevator, wherever it was happening at least two properties. This Thursday. It’s voluntary. I think that’s something we’re trying to do generally across all the properties and that was a request of residents to just have poor training and emergency preparedness and that’s.
Unknown Speaker 1:37:20
Right, I’ve been planning my drive up to Keystone for conference signatures on Wednesday and Thursday and Thursday. Well you can come crash with me okay.
Speaker 5 1:37:42
All right, I’m gonna do some strategy, strategic strategic movement. We there is a city provided a CDBG grant to the LJ to do security camera, new editions of security cameras across properties. We’re moving some money around to make sure we’ve got enough to cover what we need. Right now we’re we’ve just confirmed our path forward. So we’re going to be buying the equipment using your grant funds for that. And then it’ll be some time before we can actually do the install and put up the long term monitoring and networking. stuff we’ll get to you got to work from a city contracting process, but that is moving after some time spent in in limbo with federal contract approvals. And that will integrate with the city system that where we can have a lot more access to what’s going on and use it for better purposes in terms of crime prevention and response. So that’s happily moving along. And Terrell already talked about the parking issues. So let me know if there’s any other questions I can try to answer or get to Sarah.
Speaker 9 1:38:54
Grover out anybody? The business is adjourned at 1040
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