HomeMy WebLinkAbout1993_09_13 Housing Authority Minutes .
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MEETING MINUTES
SEPTEMBER 13 , 1993
The meeting was called to order at 8: 15 PM by Paul Winick,
Chairman. The meeting was held in Conference Room A in the
Mamaroneck Town Hall.
Mamaroneck Housing Authority members in attendance were:
Paul Winick, Chairman
Barry Weprin, Vice - Chairman
Jeffrey Marston, Secretary
Mary Regina Carlson
Susan Sidel.
Visitors and staff in attendance were:
Ed Lieberman, Counsel to the Authority
Elaine Price, Town Councilwoman
Steve Altieri, Town Administrator
Carmine de Luca, Town Comptroller
Sandi Vanderslice, Town Deputy Comptroller
. Lillian Robustelli, Secretary to the Town Supervisor
IC: O'Keefe, Town resident.
1. There was an extended discussion of the duties of the Fiscal
Agent, separation and flow of funds to comply with Bond document
requirements, and investment of funds into interest bearing
accounts.
It was decided, ' after extensive discussion, to pay the Fiscal Agent
out of Bond proceeds for the present value of the costs for the
term of the bonds rather than an on annual basis.
2 . There was an extended discussion of the investment of Bond
proceeds. The Comptroller's Office suggested that the funds be
invested in a special fund administered by MBIA in which the Town
of Mamaroneck already has some funds invested. The Authority
instructed the Comptroller's Office to collect information from
both MBIA and Chase about accounts and their meeting Bond
Resolution requirements.
Tri-Tech will provide the Comptroller's Office with a construction
period cash flow estimate. It was stated that the Town of
Mamaroneck had already paid $207 , 000 for project soft and hard
costs.
3 . A motion, moved by Mary Regina Carlson and seconded by Paul
4C: Winick, was passed 5-0 to approve the use of the Authority
.
signature plates, held by the Comptroller's Office, following the •
proper processing and approval of Housing Authority claim forms
which will be signed manually, after approval by vote of the
Authority (unless covered by the small expenditure exception, see
4 . , below) .
4 . There was discussion of whether it would be advisable to
establish a process by which authorization of small invoices would
be approved without full action of the Authority. A motion, moved
by Mary Regina Carlson and seconded by Paul Winick, was passed 5-0
to approve the Chairman and Vice-Chairman to execute the necessary
documents for payment of claims of less than $500 without votes of
the full Authority.
5. Site Excavation. It was discussed that the site contractor
had found organic material buried at the site. A soils engineer,
brought in to recommend how to create a satisfactory base for
construction of the buildings, suggested the following:
Compacting of the material
Excavation of the material and filling in with screened on-
site soil.
Tri-Tech recommended the second option and had negotiated a unit
price for the work. It was estimated that the change order would
cost from $48 , 000 to $60, 000.
6. Construction Payment. Progress Payment #1, in amount of
$218,701. 35 covering the period July 20, 1993 through August 31,
1993 , was presented. A motion to authorize payment, moved by Mary
Regina Carlson and seconded by Barry Weprin, was passed 5-0.
7 . Residents Application Form. After a brief discussion, Susan
Sidel agreed to draft a residency application form to be presented
at the next meeting.
8. Residency Criteria. It was decided to discuss criteria at the
next meeting.
9. Managing Agent. There was a discussion of the role of a
Managing Agent and how to select an Agent. Elaine Price suggested
that the Authority bring in a consultant to present key issues.
She suggested Muriel Bogdanoff as the consultant. With
the approval of the Authority, she will contact Ms. Bogdanoff about
attending the next meeting.
10. Next Meetings. The Authority set the following future
meetings:
• October 19, 1993
▪ November 16, 1993
• December 15, 1993 .
11. A motion to adjourn into Executive Session, moved by Paul 410
Winick and seconded by Barry Weprin, was passed 5-0, where upon
® visitors and staff left the meeting. Following the Executive
Session, a motion, moved by Paul Winick, seconded by Barry Weprin,
was approved to pay the bill from the Authority's attorney, Ed
Lieberman.
The meeting was adjourned at 10: 15 PM.
Minutes submitted by Jeffrey L. Marston, Secretary.
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