HomeMy WebLinkAbout2013_03_20 Housing Authority Minutes TOWN OF MAMARONECK HOUSING AUTHORITY
BOARD MEETING MINUTES
03/20/13
In attendance:
Board Members:Rick Cherry-Chairman,Sal Iacono-Treasurer,Bob Kirby-Secretary,Bob
Cammer 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 July,2012 were approved.
1. Cash Position HVB Operating Account $ 21,989.60
@ 03/20/12: HVB Capital Account $ 15,685.50
Morgan Stanley L/T Reserve$ 550,462.12
Morgan Stanley S/T Reserve $ 128.388.94
Total $ 716,526.16
2. 2012 Audit: The Treasurer,Sal Iacono,reported that the field work for the 2012
Audit has been completed by the accountants O'Connor Davies LLP in Harrison,NY
and that there are no major issues to report.
3. Managing Agent's Report: The Managing Agent,Bram Fierstein,reported to the Board
that since January 1,2013,three apartments have been vacated and subsequently rented
to new tenants.All three apartments were renovated at a cost of$5,000 per apartment.He
indicated an additional apartment will be vacated by the end of March and is using the
waitlist because no town or village employees are currently interested.Bram also
presented the updated Tenant 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 11.
4. Physical Condition Survey:Bram indicated that Antonucci&Associates has been
retained to update the survey last completed in April 2008.This report is important in
setting future amounts for the L/T and S/T Reserve to cover capital expenditures and
unforeseen emergencies.
5. Cedar Siding Project:Due to capital budget limitations,the Treasurer indicated that the
cedar siding project has been delayed until after the Hommocks Park Revenue Bonds
refinancing in December 2014,to provide funding for the project.
6. Mold Remediation:The Managing Agent reported a boiler valve malfunction in
one of the Hommocks buildings causing hot water to enter a crawl space in
December,2012.This contributed to a mold condition.However,due to a timely
tenant notification,the area was professionally cleaned and remediated.Repairs
were also made to crawl space,damaged sheetrock replaced and insulation
removed and replaced.All associated expenses were covered by insurance.It was
noted by Board members that a periodic inspection of all the crawl spaces should
be made to make sure the mold condition has not returned.
7. Westchester County Remediation:The Chairman,Rick Cherry,led a lengthy
discussion about a request from the Town of Mamaroneck to the Housing Board
to take some of the apartments out of the Tier system(See Item#3)and place
them under the requirements of the"County Stipulation".This means that those
apartments would have to be marketed throughout Westchester and the surrounding
counties.Tenants would be selected by lottery and there are rent limits and income
limits under the Stipulation.These apartments would then qualify as fair and
affordable housing under the Agreement the County signed with HUD in 2005.
Much more analysis needs to be done by the town concerning whether this would
violate the 50 year lease or the Revenue Bond covenants before the Board would
make any final decision.However,Mr.Cherry received a"sense of the Board"
that the Board would consider the County stipulation idea-- if the Town of
Mamaroneck had made some commitment to the construction of new affordable
housing per the intent of the Agreement.Mr.Cherry indicated that he would
communicate with the Town Supervisor,Nancy Seligson and Town Adminisrtator,
Steve Alfieri,the Board's decision for further discussion.
8. The next Board Meeting will be scheduled as soon as the County Stipulation idea
has been vetted,analyzed and ready for presentation and review by the Board.
The Board Meeting was adjourned at 8:55 PM.