Meeting: Housing Authority Meeting

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ROLL CALL
TOM TEIXEIRA
MINUTES
PUBLIC COMMENT

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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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	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