Housing Authority

MONTPELIER HOUSING AUTHORITY Regular Meeting September 15, 2015 The meeting was called to order at 6:00 p.m. by Chairman McCullough with Commissioners Coble, Larson and Zern present. Commissioner Audy was absent. Agenda Item II – Approve Agenda The agenda was reviewed. No changes were made to the agenda. Agenda Item III – Approval of Minutes Commissioner Larson moved that the minutes of the regular meeting of August 18, 2015 be approved as written. Commissioner Zern seconded the motion and it passed unanimously. Agenda Item IV – Review of Vouchers, Bank Statements and Financial Reports Vouchers and bank statements and were made available for Commissioners to review. Mrs. Troiano noted that the reports only covered the first month of the new fiscal year therefore there weren’t any issues to discuss. August in-house financials were also provided. Agenda Item V - Executive Director’s Report In addition to the written report Mrs. Troiano informed the Board that the proposed Section 8 Fair Market rents had been published in the Federal Register on September 8. FMRs in Washington and Chittenden County decreased dramatically. Our 0 and 1BR FMRs decreased by $65. The only way to change them is to do a rental study which is quite expensive. Agenda Item VI – Discussion and Action – Section 8 Voucher Resolution As discussed in the Executive Director’s Report, HUD is requiring that the Board approve a resolution stating that the Authority will use unrestricted reserves to cover any shortfall due to increasing our Voucher lease up. After a short discussion Commissioner Zern moved that the Board commit up to $30,000 in unrestricted reserves to cover any shortfalls. Commissioner Coble seconded the motion and it passed unanimously. (See attached resolution.) There being no further business the meeting was adjourned at 6:30 p.m. Respectfully submitted Jo Ann Troiano, Secretary -1-