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ROLL CALL

TOM TEIXEIRA

MINUTES

PUBLIC COMMENT

Pledge allegiance to the flag of the United States of America and to the Republic for which it stands, one nation under God, 00:05:00
indivisible, with liberty and justice for all. 00:05:06
Good morning and welcome everybody to today's regularly scheduled Board of County Commissioners meeting. Today is Monday, June 00:05:16
3rd, 2024. We'll open up the Housing Authority Board with roll call, please. 00:05:23
Mike Freeman, Scott James, Lori Sane, Harry Buck, Kevin, us. Let the record reflect All 5 commissioners are here today. We have 00:05:30
the Housing Authority here. Any report to give today? 00:05:37
All right, come on up. 00:05:44
It's my understanding that, excuse me, this is Tom Texara for the Housing Authority. 00:05:54
It's my understanding there's been some question about why there are multiple rent levels in tax credit properties and for one in 00:06:00
particular is the 2 Colonial senior housing now. The Decono senior housing is owned by High Plains Housing Development Corporation 00:06:07
and was built by them in about 1999. 00:06:13
It's basically the Housing Authority of the city really is the management agent and has been since 1989. 00:06:23
I was actually involved in the construction of the project back then. 00:06:31
Tax credit properties. You go and apply to Chatha Colorado Housing and Finance Authority. They give you a number of tax credits. 00:06:38
Nonprofit has no need for tax credits, so it sells them to a investor. 00:06:45
That investor? It becomes your partner for the next 15 years. 00:06:53
That is about 50% of the cost of the building you hope you then go out and try and range about another 25% through home funds, 00:06:58
home loan, bank, et cetera. So at the end you only have about a 25% debt on the property and then that debt is amortized over 40 00:07:07
years. At the end of 15 to 17 years the the investor leaves the property becomes property of totally of High Plains housing 00:07:15
development. 00:07:23
And then? 00:07:32
Basically we have an agreement with Jaffa which is filed with the county clerk called Laura Low Income Housing Tax Credit, Land 00:07:34
use Agreement, and on page four it says that ten of the units have to be set aside for people making less than 50% of income. 00:07:44
Median income and the other 10 for 40%. So you do have two sets of rents, allowable rents right now. According to Chapel, the 00:07:54
property the Max rent allowably would be 762 on a 40% unit in 976. 00:08:04
On a 50%, the rents are actually 615 and seven $130.00 for those apartments. So you do have multiple rents. 00:08:15
Even though they're the exact same apartments, you have multiple rents. 00:08:26
I hope that explains all right. Any questions for Tom on that matter? 00:08:31
Thanks for the explanation. I also need to go to minutes. Look for approval minutes. April 22nd, 2024, second motion by 00:08:36
Commissioner Buffer Approval minutes for April 22nd, 2024, second by Commissioner James. Further discussion. 00:08:43
Hearing none, all those in favor signify by saying aye aye. All opposed. Same sign and minutes for April 22nd, 2024 for the 00:08:52
Housing Authority. Passes 5 to 0. I understand we have someone for public comment for the Housing Authority board. This is your 00:08:57
moment. If you'd like to come up to the podium, please state your name, your address for the record, and limit your comments to 00:09:03
three minutes, please. OK. 00:09:09
Hi, it's nice to be here. Good morning. 00:09:17
My name is Ed Hannon. I live at 1206 Mack James Court in Dakota, Colorado. 00:09:20
Actually, Tom has spoke to you about the reason that I'm here. It's about the disparity of rents and at that facility and that's 00:09:28
at the facility of 4 27th St. in Dacono. I know several people that live there. 00:09:37
And the there is a disparity of rent, but there being told by Yvonne Benavides. 00:09:49
That it's not about income. 00:09:56
It's about availability of these units. So it depends on, I have a a friend that's in that apartment and I helped them four years 00:09:59
ago and there were two apartments that she qualified for. One was a little less than risk because the rents have gone up, but one 00:10:08
was for $600.00 approximately and one was for 700 approximately. 00:10:17
And she qualified for both, but she only got the one that was next available. And that's how Yvonne said this is is set up so that 00:10:27
they get the next available apartment and she got the one that was more expensive. So we've got people that are there that. 00:10:39
Qualify for both of these that are not allowed to to. 00:10:51
To apply for the for the lower rent, so once you're in these apartments, even though they're all the same. 00:10:59
You could pay. 00:11:07
A different rent for that reason and so it's really unclear to me and to the people that live there why this is and we're hoping 00:11:09
to get to the bottom of it so that these these guys have the opportunity to pay less if if they can and you know they're seniors 00:11:19
and and every dollar counts there I mean they're struggling so anything that. 00:11:28
You can do to help them get the, you know, the financing that they they can get from the state and the county would be 00:11:37
appreciated. 00:11:43
And, and that, that's, I just, I think I heard why, but it's not, it's a conflict of what we're hearing from Yvonne. And, and I 00:11:51
think we need to maybe dig a little deeper if, if you guys wouldn't mind into this program to make sure that we're all treating 00:11:58
all the seniors equally. 00:12:06
Thank you for coming soon. Thank you very much. 00:12:15
Is there anybody else wish to make comment towards the Housing Authority board this morning? 00:12:19
All right. With that, I'll go ahead and close public comment. And with that, we'll adjourn the Housing Authority Board meeting. 00:12:25
Need a second Houston? 00:12:31
I. 00:12:34
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Pledge allegiance to the flag of the United States of America and to the Republic for which it stands, one nation under God, 00:05:00
indivisible, with liberty and justice for all. 00:05:06
Good morning and welcome everybody to today's regularly scheduled Board of County Commissioners meeting. Today is Monday, June 00:05:16
3rd, 2024. We'll open up the Housing Authority Board with roll call, please. 00:05:23
Mike Freeman, Scott James, Lori Sane, Harry Buck, Kevin, us. Let the record reflect All 5 commissioners are here today. We have 00:05:30
the Housing Authority here. Any report to give today? 00:05:37
All right, come on up. 00:05:44
It's my understanding that, excuse me, this is Tom Texara for the Housing Authority. 00:05:54
It's my understanding there's been some question about why there are multiple rent levels in tax credit properties and for one in 00:06:00
particular is the 2 Colonial senior housing now. The Decono senior housing is owned by High Plains Housing Development Corporation 00:06:07
and was built by them in about 1999. 00:06:13
It's basically the Housing Authority of the city really is the management agent and has been since 1989. 00:06:23
I was actually involved in the construction of the project back then. 00:06:31
Tax credit properties. You go and apply to Chatha Colorado Housing and Finance Authority. They give you a number of tax credits. 00:06:38
Nonprofit has no need for tax credits, so it sells them to a investor. 00:06:45
That investor? It becomes your partner for the next 15 years. 00:06:53
That is about 50% of the cost of the building you hope you then go out and try and range about another 25% through home funds, 00:06:58
home loan, bank, et cetera. So at the end you only have about a 25% debt on the property and then that debt is amortized over 40 00:07:07
years. At the end of 15 to 17 years the the investor leaves the property becomes property of totally of High Plains housing 00:07:15
development. 00:07:23
And then? 00:07:32
Basically we have an agreement with Jaffa which is filed with the county clerk called Laura Low Income Housing Tax Credit, Land 00:07:34
use Agreement, and on page four it says that ten of the units have to be set aside for people making less than 50% of income. 00:07:44
Median income and the other 10 for 40%. So you do have two sets of rents, allowable rents right now. According to Chapel, the 00:07:54
property the Max rent allowably would be 762 on a 40% unit in 976. 00:08:04
On a 50%, the rents are actually 615 and seven $130.00 for those apartments. So you do have multiple rents. 00:08:15
Even though they're the exact same apartments, you have multiple rents. 00:08:26
I hope that explains all right. Any questions for Tom on that matter? 00:08:31
Thanks for the explanation. I also need to go to minutes. Look for approval minutes. April 22nd, 2024, second motion by 00:08:36
Commissioner Buffer Approval minutes for April 22nd, 2024, second by Commissioner James. Further discussion. 00:08:43
Hearing none, all those in favor signify by saying aye aye. All opposed. Same sign and minutes for April 22nd, 2024 for the 00:08:52
Housing Authority. Passes 5 to 0. I understand we have someone for public comment for the Housing Authority board. This is your 00:08:57
moment. If you'd like to come up to the podium, please state your name, your address for the record, and limit your comments to 00:09:03
three minutes, please. OK. 00:09:09
Hi, it's nice to be here. Good morning. 00:09:17
My name is Ed Hannon. I live at 1206 Mack James Court in Dakota, Colorado. 00:09:20
Actually, Tom has spoke to you about the reason that I'm here. It's about the disparity of rents and at that facility and that's 00:09:28
at the facility of 4 27th St. in Dacono. I know several people that live there. 00:09:37
And the there is a disparity of rent, but there being told by Yvonne Benavides. 00:09:49
That it's not about income. 00:09:56
It's about availability of these units. So it depends on, I have a a friend that's in that apartment and I helped them four years 00:09:59
ago and there were two apartments that she qualified for. One was a little less than risk because the rents have gone up, but one 00:10:08
was for $600.00 approximately and one was for 700 approximately. 00:10:17
And she qualified for both, but she only got the one that was next available. And that's how Yvonne said this is is set up so that 00:10:27
they get the next available apartment and she got the one that was more expensive. So we've got people that are there that. 00:10:39
Qualify for both of these that are not allowed to to. 00:10:51
To apply for the for the lower rent, so once you're in these apartments, even though they're all the same. 00:10:59
You could pay. 00:11:07
A different rent for that reason and so it's really unclear to me and to the people that live there why this is and we're hoping 00:11:09
to get to the bottom of it so that these these guys have the opportunity to pay less if if they can and you know they're seniors 00:11:19
and and every dollar counts there I mean they're struggling so anything that. 00:11:28
You can do to help them get the, you know, the financing that they they can get from the state and the county would be 00:11:37
appreciated. 00:11:43
And, and that, that's, I just, I think I heard why, but it's not, it's a conflict of what we're hearing from Yvonne. And, and I 00:11:51
think we need to maybe dig a little deeper if, if you guys wouldn't mind into this program to make sure that we're all treating 00:11:58
all the seniors equally. 00:12:06
Thank you for coming soon. Thank you very much. 00:12:15
Is there anybody else wish to make comment towards the Housing Authority board this morning? 00:12:19
All right. With that, I'll go ahead and close public comment. And with that, we'll adjourn the Housing Authority Board meeting. 00:12:25
Need a second Houston? 00:12:31
I. 00:12:34
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