HomeMy WebLinkAbout2014_01_28 Housing Authority Minutes TOWN OF MAMARONECK HOUSING AUTHORITY
Minutes
1/28/14
Present: Robert Cammer
Richard Cherry
Sal Iacono
Caroline Silverstone
Bram Fierstein,Managing Agent
Mr.Cherry called the meeting to order at 7:40 pm.
Cash Position: HVB Operating Account $ 40,225.21
HVB Capital Account $ 472.87*
Morgan Stanley L/T $ 607,760.25
Morgan Stanley S/T $ 106,034.81
Total $ 754,493.14
The Board approved the transfer of$20,000 from the reserve account to the
capital account. These funds will be used to pay for incidental capital expenses
such as preparing apartments for rental.
Mr.Iaconno and Mr.Fierstein responded to questions regarding the 2014
operating budget. The Board unanimously voted to approve the budget as
presented.
Mr.Fierstein reported all apartments are currently rented. One vacated in
December and was rented in January. Another is vacating at the end of February
and has been rented for occupancy in mid-February.
Mr.Fierstein reported on the arrears situation of Ms.Kalish(#60). The Housing
Authority approved an agreement with her in April 2013 which provided she pay
a minimum of$1.200 per month and pay her accumulated arrears at the end of
December. She made her payments but has been unable to pay her current
balance of$4,584 through the end of January. The Board reviewed her email
correspondence and recommended that she contact Section 8. In addition the
Board asked that management discuss legal options with counsel.
Management provided the Board with an updated Tier Report reflecting the tier
status of the current tenancy.
Mr.Fierstein reported that the physical condition survey prepared by Antonucci&
Associates was completed in July 2013.He reported that the superintendent
completed the following recommendations:
• Mailboxes: All deteriorated mailbox base plates were cut and welded.
Mailboxes were primed and painted.
• Handrails: All rusted handrails and posts have been sanded,primed and
painted.
• Exposed Sprinkler Lines: All exposed sprinkler lines have been buried.
• Unsealed Sidewalk Joints: All unsealed joints in concrete sidewalks have
been caulked with liquid rubber sealant.
• Leaders&Gutters: Replaced new roof leaders and extended them into
gutters.
• Picket Fence: The picket fence between the complex and the Town leaf
collection area was replaced.
• Deck&Balusters: Decks were scraped and painted and all loose balusters
were repaired or replaced as needed.
• Stone Wall: All loose stones in the wall have been reset.
The Board discussed the larger projects that included the roofs,siding and
windows. These would be funded by the refinancing of the bonds in the summer
of 2014.
Mr.Fierstein discussed a report generated by the Community Environmental
Center regarding the condition of the windows. The windows were found to be
allowing for cold air infiltration. Mr.Fierstein has asked a window contractor to
inspect the windows to determine if it is possible to replace the window stripping.
Management will report the results and determine if additional work needs to be
done in conjunction with the Community Environmental Center.
Mr.Fierstein reported that the accountants started the 2013 audit.
Mr.Iacono reported that he and Mr.Cherry met with Steve Altieri to discuss the
Town's possible paving of the roadway. Mr.Altieri asked if the Housing
Authority would take responsibility for the repair of the road.In order for the
Housing Authority to make a decision Mr.Iacono and Mr.Cherry requested that
the Town provide the cost of repairing the roadway using the Town's bulk
purchasing of asphalt.
Mr.Iacono provided the Board with a summary of the costs and projected savings
• from the refinancing of the construction bonds. This was prepared by Capital
Market Advisors. The summary indicated that at current interest rates the
Housing Authority would save approximately$80,000 over eight years net of the
expenses associated with the refinance. In addition the Board agreed that
$500,000 would be an appropriate amount to fund capital repairs. The cost of this
additional funding would be paid for by the$80,000 in savings plus the use of the
funds currently being set aside for the capital reserve fund. The Housing
Authority requested that Mr.Iacono obtain at least one more proposal from firms
specializing in municipal bond work.
The meeting was adjourned at 9:00 pm.
•