HomeMy WebLinkAbout2010_07_19 Housing Authority Minutes TOWN OF MAMARONECK HOUSING AUTHORITY
BOARD MEETING MINUTES
'30mo' 7/19/10
In attendance:
Board Members: Rick Cherry- Chairman, Bob Cammer, Sal Iacono,Bob Kirby
Town Board Liaison: David Fishman
Managing Agent: Bram Fierstein
The Board Meeting was called to order by Rick Cherry at 7:30 PM.
1. Cash Position HVB Operating Account $ 18,982.18
@ 07/19/10: Merrill Lynch L/T Reserve $ 601,291.65
Merrill Lynch S/T Reserve $ 154,490.84
Total $ 774,764.67
2. The Chairman asked the Board for potential candidates to fill the empty position
left by the death of Phyllis Kamo. Bob Cammer suggested a town resident with
housing experience and an outreach will be made in the near future.
3. Boiler Replacement Project: First Choice Plumbing, a local vendor,has been
retained to install the next two boiler units, due to a lower-priced bid .Upon
completion, a decision will be made by the Board whether to award First Choice
the remaining eight boiler installations for the 2010 budget year.
4. 2010 Operating Budget: As of the end of June, Bram Fierstein noted the arrears
relating to rental income amounted to $12,353. This is due to a combination of r
having a few vacant apartments earlier in the year and two tenants with significant
shortfalls in rent. Gramatan Management has initiated legal action with both of
these tenants on the Board's behalf. He also indicated a 2 Bedroom unit will be
vacant at the end of the month and efforts are being made to find a tenant.
5. Hommocks Signage: The Board voted unanimously to purchase and install an
approved sign with the Hommocks address and the Housing Authority name
added to the sign. The Board decided to move forward without the approval of the
Architectural Review Board("ARB").
6. Exterior Trim Project: The Board is awaiting Abner Duke's bid submission to
complete the remaining trim work. Gurrieri General Contracting,who did most of
the exterior work last year,has also presented a proposal.
7. Late Payments: The Board requested Gramatan Management review the late
payments of tenants,James &Karen Guinee,with their attorney,Evelyn Petrone
to determine whether further action is required under the stipulation
agreement put in place earlier in the year.
wish A
8. Lease Renewal: The Board requested Gramatan Management compose a letter
requiring agreement from Westchester Residential Opportunities("WRO")regard-
ing their involvement with the lease for the current tenant,Anthony Zamboli,will
terminate when Mr. Zamboli vacates the apartment.
9. New Business:
The Chairman requested the Treasurer to review the net assets calculation(See
Addendum B in the Independent Auditor Report dated 12/31/09),and clarify that
calculation to the Board at the next meeting, in light of the auditor's comments
concerning the adequacy of the net assets going forward,projected by means of a
Board-prepared multi-year financial plan.
The Board also requested the Treasurer to prepare a financial analysis detailing
the impact of an early redemption on the Hommocks Park Revenue Bonds
maturing on or after August 1, 2014. The early redemption could occur on or after
August 1,2013 for a partial or full amount with the intent of realizing interest
savings on the Revenue Bonds. It was noted that the decision on the PILOT i.e.,
Payment in Lieu of Taxes,will be delayed pending the review of the early
redemption analysis.
The Board Meeting was adjourned at 9:00 PM.