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AHA Minutes - 02/09/2021

MINUTES
THE HOUSING AUTHORITY OF THE CITY OF AUBURN
The Board of Commissioner's Special Meeting
February 9, 2021

The Board of Commissioners of the Housing Authority of the City of Auburn, Alabama met on Tuesday, February 9, 2021 via Zoom due to COVID-19.

CALL TO ORDER

The Board of Commissioner's Special Meeting was called to order at 12:06 pm by Chairperson Smith.

ROLL CALL

Present: Nolan Torbert, Rene Waldrop, Robert Smith, and Marguerite White
Others Present: Sharon Tolbert (Secretary/Treasurer), Michael Syme (Attorney), Milton Pratt (The Michaels Organization), David Garcia (The Michaels Organization, and Granvel Tate (The Michaels Organization
Absent: Deborah Hand
There was a quorum for the purpose of conducting business.

PUBLIC COMMENTS

There were no public comments.

UNFINISHED BUSINESS

A. Affordable Housing Initiative - Ridgecrest Redevelopment
Milton Pratt, David Garcia, and Granvel Tate of The Michaels Organization (TMO) provided a summary of the TMO. Financial projections were shared regarding the proposed Ridgecrest redevelopment. The projections included a forecast for redeveloping 106 units and 53 units. The projections included an overview, development sources and uses, tax credit calculations, and
miscellaneous operations information. There was lengthy dialogue regarding the information that was presented. Milton Pratt, David Garcia, and Granvel Tate left the meeting after their presentation and questions were answered.

NEW BUSINESS

A. Resolution FYE2021-025: Master Development Agreement, The Bennett Group
Resolution FYE2021-025 was introduced by Chairperson Smith. Commissioners were provided a copy of the resolution and supporting documentation. Secretary/Treasurer Tolbert reported the resolution is to terminate The Bennett Group's Master Development Agreement
due to correspondence received on November 24, 2020. There was various dialogue regarding the termination.

Chairperson Smith asked if there was further discussion before voting. Hearing none, Chairperson Smith asked for a motion to approve Resolution FYE2021-025. Commissioner Torbert moved that the resolution be approved as received. Commissioner White seconded said motion and all members, with the exception of Chairperson Smith, voted aye.

Chairperson Smith abstained from voting. Chairperson Smith declared the resolution approved.

B. Resolution FYE2021-026: Master Development Agreement, The Michaels Organization
Resolution FYE2021-026 was introduced by Chairperson Smith. Commissioners were provided a copy of the resolution and supporting documentation. Secretary/Treasurer Tolbert reported the resolution is to execute a Master Development Agreement (MDA) with The Michaels Organization. There was various dialogue regarding the new MDA.

Chairperson Smith asked if there was further discussion before voting. Hearing none, Chairperson Smith asked for a motion to approve Resolution FYE2021-026. Commissioner Torbert moved that the resolution be approved as received. Commissioner Waldrop seconded said motion and all members, with the exception of Chairperson Smith, voted aye. Chairperson Smith abstained from voting. Chairperson Smith declared the resolution approved.

C. Discussion: 9% Low Income Housing Tax Credit (LIHTC) Application
The Commissioners discussed the information that was presented by TMO. There was lengthy discussion regarding the CEO's ability to handle additional job functions as a result of applying for and/or being awarded LIHTC coupled with the ACDC's housing initiative.
There was also dialogue regarding the Auburn Housing Authority's financial capacity to pursue numerous housing initiatives simultaneously. Secretary/Treasurer stated she appreciates the Board's concern of her not being overwhelmed due to the proposed new housing initiatives; however, she assured the Board of her ability to be able to handle what will be required. It was determined additional information will be needed before the Board makes a determination on how to move forward with a LIHTC application

ADJOURNMENT

There being no further business, Chairperson Smith asked for a motion to adjourn. Commissioner Waldrop moved that the meeting be adjourned; Commissioner White seconded. The meeting was adjourned at 2:02 pm.