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NEW BUSINESS: <br /> A. FY 2019 Budget Submittal: Mr. Joy distributed copies of the 4001 and MRVP budgets for <br /> Fiscal Year 2019, including supporting documents. <br /> Mr. Joy advised the board that DHCD has allowed a 4% increase to non-utility spending this <br /> year. He started by reviewing the Operating Reserve Analysis form and then explained <br /> Operating Subsidy. He also mentioned that rents were down a little and that there was already a <br /> pretty big amount in Extraordinary Maintenance. Mrs. Botsford stated that was due to the <br /> multiple unit turnovers we've had already and that she has contacted DHCD about funding these <br /> turnovers, at least in part, under our Capital Improvement Plan. She thinks they will approve <br /> this, which will help our budget this year. Mr. Joy went on to review the MRVP and 4001 <br /> budgets in detail, as well as the salary schedule. He pointed out that MRVP does not pay its fair <br /> share of anything because the administrative fee is so low. Mrs. Botsford pointed out that a new <br /> Executive Director Salary computation needed to be done, because we took over Mattapoisett <br /> this past year. She pointed out that she is not taking the maximum allowable per the schedule. <br /> The chair will have to sign off on this if the board votes approval. Mr. Joy read the resolutions. <br /> After short discussion, a motion was made by Richard Halpern and seconded by Kevin <br /> Shackett to accept and approve the 4001 Fiscal Year 2019 budget submittal including the <br /> new Executive Director salary as presented. The motion carried. <br /> A motion was made by Kevin Shackett and seconded by Richard Halpern to accept and <br /> approve the Fiscal Year 2019 MRVP budget as presented. The motion carried. <br /> The board thanked Mr. Joy for coming in and presenting the budget. He then left the meeting <br /> and Ms. Meizinger returned to the regular agenda. <br /> SECRETARY'S REPORT: Minutes for the regular meeting held on October 11, 2018 were <br /> mailed to members before the meeting. A motion was made by Richard Halpern and <br /> seconded by Lisa Meizinger to accept the minutes as presented. The motion carried. Mr. <br /> Shackett abstained due to his absence at that meeting. <br /> TREASURER'S REPORT AND BUDGET UPDATE: Mrs. Botsford presented the warrants <br /> for signature which are for the month of October 2018 and total as follows: $47,168.31 for 4001, <br /> $ 49,659.00 for MRVP, $53,361.38 for Asher's Path Apartments, $ 6,847.20 for HAP, and <br /> $3,384.01 for Great Cove Community. A corrected warrant for August was also presented as <br /> some checks didn't print on the one signed last month. Corrected amount is $61,630.00. We <br /> have rents paid in full at all except for a small balance due at Breezy Acres. We are 100% <br /> occupied at Asher's Path, Homeyer Village, and Great Cove Community. Right now we have <br /> one vacancy at Breezy Acres due to eviction. A motion was made by Richard Halpern and <br /> seconded by Kevin Shackett to accept the Treasurer's Report as presented. The motion carried. <br /> EXECUTIVE DIRECTOR'S REPORT & UPDATES: <br /> Page 2 of 4 <br />