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• All rents are paid in full. We are 100% occupied but expect two vacancies at Asher's Path next <br /> month. <br /> • I have not heard back from Michelle Tobey yet about the board's votes last month; however, we <br /> have been in contact about a couple other things. <br /> • Mrs. Botsford presented the warrants for review and signature. The warrants for signature <br /> tonight are for the month of September 2016 and total as follows: $43,351.88 for 4001, , <br /> $42,823.00 for MRVP, $41,615.07 for Asher's Path Apartments, $5,700.90 for HAP, and $8,482.61 <br /> for Great Cove Community. <br /> A full report for October will be presented before=the next regular meeting. <br /> OLD BUSINESS: none <br /> NEW BUSINESS: <br /> a) FY 2017 Budget approval and submission: Mr. Joy started the presentation with reviewing the <br /> guideline highlights, including a 3% increase to non-utility level spending, a $200.00 per unit <br /> special DHCD-directed cost exemption for maintenance-related items. Mr.Joy reviewed the <br /> Operating Reserve Analysis page and then reviewed the line items in the 4001 budget. Rents are <br /> higher this year than last year and so we are only requesting a subsidy of$43,348.00. Mr. Joy <br /> then went on to review the attachments including the Capital and Other Expenses Schedule, the <br /> Salary Schedule and the Benefits/Insurance Schedule. Mr. Joy reviewed the MRVP budget and <br /> reminded the board that MRVP doesn't ever pick up its fair share of the expenses, because the <br /> administrative fees are so low; however, we have a bit of reserve in the account that we can <br /> charge things to if we need to. Mr. Joy asked if there were any questions and there were not. <br /> The chair thanked Mr. Joy for his reviewing everything with the board. Mrs. Botsford reminded <br /> the board that this year's process was new in that after a vote was taken the ceritifiation gets <br /> signed and sent by PDF to DHCD. Once that certification is accepted, then the budget can be <br /> submitted. A motion was made by Kevin Shackett and seconded by Richard Halpern to <br /> approve and submit to DHCD the 400-1 budget. The motion was adopted. A motion <br /> was made by]ill Allen and seconded by Richard Halpern to approve and submit to <br /> DHCD the MRVP budget. The m0ti0r1 was adopted. All certifications were signed and Mrs. <br /> Botsford will scan and email to DHCD this evening. The board thanked Mr. Joy for coming in and <br /> he exited the meeting. <br /> b) Executive Director Annual Evaluation: hlrs. Botsford stated that she puts this item on the agenda <br /> each year to give the board the opportunity to conduct an annual evaluation. The last evaluation <br /> was done last year. The contract states that if no evaluation is done, that the absence of a <br /> review indicates the board's complete satisfaction. Mr. Halpern stated that an evaluation is not <br /> needed. He indicated that he believes the board feels the same and that Mrs. Botsford's <br /> performance is stellar. Ms. Allen agreed. <br /> c) Capital Improvement Work Plan Amendment #4: Mrs. Botsford stated that DHCD requires a <br /> board vote and the chair's signature on the Amendment to allow for the increased spending we <br /> are being allowed for our capital work. A motion was made by Richard Halpern and <br /> seconded by Kevin Shackett to approve Amendment#4 of the Capital Improvement <br /> Work Plan as presented. Mr. Laporte and Mrs. Botsford signed the paperwork and Mrs. <br /> Botsford will submit to DHCD. <br /> Page 2 of 3 <br />