HomeMy WebLinkAbout2013_10_02 Housing Authority Minutes TOWN OF MAMARONECK HOUSING AUTHORITY
BOARD MEETING MINUTES
10/02/13
In attendance:
Board Members: Rick Cherry - Chairman, Sal Iacono - Treasurer,Bob Kirby- Secretary, and
Caroline Silverstone
Managing Agent: Bram Fierstein
The Board Meeting was called to order promptly by Chairman,Rick Cherry, at 7:00 PM. The
minutes from the last meeting in March, 2013 were approved.
1. Cash Position HVB Operating Account $ 22,024.48
@ 10/02/13: HVB Capital Account $ 5,545.50
Morgan Stanley L/T Reserve $ 587,737.54
Morgan Stanley S/T Reserve $ 105.930.80
Total $ 721,143.32
2. 2013 Audit: The Treasurer, Sal Iacono, reported that the field work for the 2013
Audit has been completed by the accountants O'Connor Davies LLP in Harrison,NY
and that there are no major issues to report.
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3. Managing Agent's Report: The Managing Agent, Bram Fierstein,reported to the Board
all apartments are currently rented. We have been given notice that one tenant will be
moving in the fall. The Managing Agent also presented the updated Tier Report of
Hommocks tenants based on the eight sets of criteria. We currently have 14 Section 8
tenants at Hommocks,representing 26%of the 54 apartment total .The Chairman asked
Bram to further breakout the Section 8 tenants because the Board is obligated under the
Lease to have a minimum of 12.
4. Physical Condition Survey: Bram indicated that Antonucci& Associates has completed
their report in July. This report is important in setting future amounts for the L/T and S/T
Reserve to cover capital expenditures and unforeseen emergencies. Abner Duke has
completed some of the work that was recommended in the report. The Treasurer and
Managing Agent plan to review a few of the engineer's recommendations to determine if
the work is critical or can be postponed. FYI,the driveway is the Town's responsibility.
The big expenditure projects that have been mentioned previously, will require funds
when the Bond refinancing occurs in late 2014.
5. Boiler Maintainence Project: The pre-fall season tune-ups of the boilers are almost
complete.
6. Westchester County Remediation: The Chairman, Rick Cherry, led a lengthy
discussion about the settlement of the Town of Mamaroneck with the federal
agency, Housing and Urban Development("HUD"). Under the agreement,the
Town no longer has to build new affordable housing in the Town under the
Westchester County - HUD settlement, due to the zoning changes that were agreed
to with the Federal Monitor.
8. The next Board Meeting will be scheduled for the 1st Quarter, 2014.
The Board Meeting was adjourned at 8:35 PM.