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HomeMy Public PortalAbout20140616minutesBOARD OF COMMISSIONERS SPECIAL BOARD MEETING JUNE 16, 2014 A Special Meeting of the Board of Commissioners of the Housing Authority of the City of Jefferson, Missouri, was held at 7:30 a.m., Monday, June 16, 2014, in the Board Room at the Housing Authority, 1040 Myrtle Avenue, Jefferson City, Missouri. ROLL CALL: On roll call, the following were in attendance: Chairman Larry Vincent, Vice Chair Penney Rector, and Commissioners Larry Kolb, Dennis Mueller, Donna White and Myrtle Mayfield. Also in attendance were Allen Pollock, Executive Director; Jack Pletz, Legal Counsel; Jim Jenkins, Deputy Director and Sonya Ross, Administrative Assistant. Chairman Vincent declared a quorum present. Regular Special Vincent 11-12 1-1 Rector 9-12 1-1 Mueller 12-12 1-1 Kolb 12-12 1-1 Mayfield 8-12 1-1 White 3-4 1-1 RESOLUTION NO. 4452 RESOLUTION APPROVING THE ESTABLISHMENT OF CC APARTMENTS INVESTMENT CORPORATION See attached Resolution Commissioner Mueller made the motion to approve Resolution No.4452 authorizing the creation of a Not-For-Profit Corporation to serve as the substitute limited partner for Capital City Apartments Limited Partnership. The board of the new corporation would consist of the current five member Board of the Land Clearance for Redevelopment Authority of the City of Jefferson. Following approval by MHDC, the CC Apartments Investment Corporation (CCAIC) would replace the investors corporation, Community Investment Group, LLC. Following approval of the Resolution Mr. Pletz will finalize and file the necessary paperwork for the creation of the Not-For-Profit Corporation. Commissioner White seconded the motion. Upon unanimous favorable vote, Chairman Vincent declared the motion approved. (Exhibit #1, 6/16/2014) RESOLUTION NO. 4453 A RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY OF JEFFERSON, MISSOURI APPROVING THE ASSIGNMENT, ASSUMPTION AND AMENDMENT AGREEMENT See attached Resolution Vice Chair Rector made the motion to approve Resolution No. 4453 authorizing the execution by the Housing Authority as guarantor of the Assignment, Assumption and Amendment Agreement between the CC Apartments Investment Corporation, Community Investment Group, LLC and Capital City Housing Corporation. Commissioner Kolb seconded the motion. Upon unanimous favorable vote, Chairman Vincent declared the motion approved. RESOLUTION NO. 4454 A RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY OF JEFFERSON, MISSOURI, REGARDING AN EXPENDITURE FROM THE GUARANTY RESERVE RELATING TO THE CAPITAL CITY HOUSING PROJECT See attached Resolution The Housing Authority previously enter into an agreement with Capital City Housing Corporation, the general partner of Capital City Apartments Limited Partnership, for the establishment of Guarantee Reserve funded by part of the developer’s fee that the Housing Authority received for the Project. With the creation of the new corporation, and transfer of ownership, a payment of $29,950.00 will be paid to US Bank for outstanding and unpaid asset management fees, in addition to reimbursements of its legal expenses. Commissioner Kolb made the motion to approve the payments from the restricted account, seconded by Vice Chair Rector. Upon unanimous favorable vote, Chairman Vincent declared the motion approved. Commissioner Kolb made the motion to adjourn the meeting, seconded by Vice Chair Rector. Upon unanimous favorable vote, the motion was approved. Larry Vincent, Chairman ATTEST: Allen Pollock, Secretary