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HomeMy WebLinkAbout2011_10_12 Housing Authority Minutes TOWN OF MAMARONECK HOUSING AUTHORITY BOARD MEETING MINUTES 10/12/11 In attendance: Board Members: Rick Cherry- Chairman, Sal Iacono - Treasurer, Bob Kirby - Secretary, and Bob Cammer Managing Agent: Bram Fierstein The Board Meeting was called to order by Chairman, Rick Cherry, at 7: 10 PM. The minutes from the last meeting in July, 2011 were read and approved. 1. Cash Position HVB Operating Account $ 51,358.97 @ 10/11/11: HVB Capital Account $ 5,528.00 Merrill Lynch L/T Reserve $ 571,680.00 Merrill Lynch S/T Reserve $ 156,495.00 Total $ 785,061.97 2. Holiday Gift: The Chairman proposed either a Christmas Party or Holiday gift for the tenants on behalf of the Board to be given in December. The Board decided a monetary gift would be the most appropriate due to the holiday season. The Managing Agent thought a gift card from the local Stop& Shop in Ferndale Plaza would work best and the Board approved his idea. An amount of$25 per gift card will be sent to each tenant in early December from "the Board members of the Town of Mamaroneck Housing Authority". A motion was made by Bob Cammer to make the expenditure and seconded by Sal Iacono. It was unanimously approved by the Board members and it was noted that the total expenditure will be approx. $1,350. 3. Managing Agent Report: Bram Fierstein indicated that the 2012 Budget will be prepared and distributed at the December Board Meeting. He also presented the current status of the work proposals to repair the minor roof leaks recently experienced. At the request of the Board from the July meeting,he engaged three contractors to competitively bid on the work indicated by the roofing consultant(Watsky Associates) in July. The Board reviewed the written bids for the expenditure and decided to accept the Soos Home Improvements bid of$45,500. A motion was made by Bob Kirby and seconded by Rick Cherry and the Board approved the expenditure unanimously. Mr. Fierstein was also authorized to sign the contract with Soos Home Improvements so that the work can be completed before the onset of winter. Bram also reported on the costs of replacing the cedar shake siding since it would fall into the category of a "big ticket" expenditure. A local contractor estimated the replacement cost for the damaged shingles to be$165,000 but the Chairman asked Bram to find out what percentage that represents of the total siding replacement costs. 4. Treasurer's Report: The Treasurer, Sal Iacono, distributed the audited financial statements @ December 31, 2010 to each Board member. He also reported that, with further analysis,the idea of re-issuing the Hommocks Park Apts. Revenue Bonds maturing in 2021 to reduce interest expense would have to be postponed until December 2014 due to redemption restrictions in the bond covenants. 5. Capital Needs Analysis: The Chairman asked the Treasurer and the Board Secretary to prepare a report of the major capital expenditures that the Hommocks complex will be exposed to, over the next 5 - 10 years. This analysis will assist the Board in determining a financing strategy to pay for these expenditures and the impact the costs will have on the replacement reserve currently in place. Mr. Cherry reiterated his concern that the Board needs to review the capital expenditures being contemplated before the Board addresses the subject of rent increases commencing in 2012. He asked that the analysis be presented at the December Board Meeting. 6. Boiler Replacement Project Update: Sal Iacono updated the Board on the status of the boiler replacement project. First Choice Plumbing,the local vendor selected last year,has replaced seven boiler units this summer and will complete the final ten boiler replacements by the end of October, 2011. 7. New Boiler Maintainence Contract: The Board approved a competitively bid work proposal from Apex after the Community Environmental Center,whose bid was slightly lower,voluntarily withdrew from the boiler maintainence job. A contract with Apex will be prepared consistent with past procedures and the Board authorized the Managing Agent to sign it so that boiler maintainence will be performed on all the new boilers as the manufacturer's 1 year warranties expire. 8. Tenant Tier Analysis: The Managing Agent presented the Tenant Tier analysis that he e-mailed to Board members in July. The analysis displayed the tier breakdown of Hommocks tenants based on eight sets of criteria. The Chairman asked Bram to further investigate Tier 8 -All Other Persons,to determine whether those tenants belong in other tiers. 9. New Business: Bram Fierstein presented a$2,000 landscaping proposal from Nick Condro, a local landscaper,to upgrade the corner of Boston Post Road and Hommocks Road, due to its visual importance for the Hommocks site. Bob Kirby made a motion to approve the work and Sal Iacono seconded. The Board approved the motion unanimously. Bram also noted that the asphalt driveways still have not been paved by the Town Public Works Department. 10. The next Board Meeting is scheduled for December 13, 2011. The Board Meeting was adjourned at 8:15 PM.