Meeting Notice Columbia Community Housing Trust Board of Directors

Transcription

1 Columbia C o m m u n i t y H o u s i n g T r u s t Operated by the Columbia Housing Authority 201 Switzler Street, Columbia, MO Office: TTY Relay Fax: Meeting Notice Columbia Community Housing Trust Board of Directors Date: Tuesday, January 17, 2017 Time: 6:30 p.m. * Place: Columbia Housing Authority, 201 Switzler Street * The meeting of the Columbia Community Housing Trust will begin following the adjournment of the meeting of the Columbia Housing Authority Board of Commissioners which starts at 5:30 p.m. and the meeting of the Board of Directors of CHA Low-Income Services, Inc. which will follow the CHA Board meeting. I. Call to Order/Introductions II. III. IV. Roll Call Adoption of Agenda Approval of October 18, 2016 Meeting Minutes V. Public Comment RESOLUTIONS VI. VII. VIII. IX. Resolution 44: Resolution of Columbia Community Housing Trust, as Sole Member of Oak Towers Housing GP, LLC Authorizing Oak Towers Housing GP, LLC to Enter Into Transactions to Develop the Oak Towers Apartments Project. (Revised from October 18, 2016) Resolution 45: Resolution of Columbia Community Housing Trust, as Sole Member of Oak Towers Housing GP, LLC Authorizing Oak Towers Housing Development Group, LP to Enter Into Transactions to Develop The Oak Towers Apartments Project. (Revised from October 18, 2016) Resolution 46: Resolution of the Columbia Community Housing Trust to Donate Funds from its Operating Fund, Not to Exceed $25,000, to the Mid-Missouri Veterans Housing Development Group, LP for the Construction of a Drainage System in the Basement of the Patriot Place Apartments and for Paving the Basement with Concrete to Improve the Utility of the Basement. Public Comment X. Board of Directors Comments XI. Adjournment If you wish to participate in the meeting and require specific accommodations or services related to disability, please contact Ms. ElTonya Rhoades, Executive Assistant at (573) , extension 1122, at least one working day prior to the meeting. ( Administration) Media Contact: Phil Steinhaus, Executive Director Phone: (573) Contact Us Administration

2 A complete agenda packet is available for review at all CHA offices during regular business hours and posted on the CHA web site at:

3 Columbia C o m m u n i t y H o u s i n g T r u s t Operated by the Columbia Housing Authority 201 Switzler Street, Columbia, MO Office: TTY Relay Fax: COLUMBIA COMMUNITY HOUSING TRUST BOARD OF DIRECTORS SPECIAL MEETING October 18, 2016, MEETING MINUTES I. Call to Order: The Board of Directors of the Columbia Community Housing Trust of the City of Columbia, Missouri (CCHT) met in open session on October 18, 2016, in the Training Room of the Columbia Housing Authority Administration Building at 201 Switzler St., Columbia, MO Ms. Genie Rogers, Chair, called the meeting to order at 6:58 p.m. II. Roll Call: Present: Staff: Genie Rogers, President Mary Anne McCollum, Vice-President Max Lewis, Treasurer Bob Hutton, Secretary Catherine Colyer, Board Member Phil Steinhaus, ElTonya Rhoades, and Rick Hess III. Adoption of Agenda: Ms. Rogers called for a motion to adopt the agenda as presented. A motion was made by Mr. Hutton. Second by Ms. McCollum. All members voted aye and Ms. Rogers declared the motion approved. IV. Approval of August 16, 2016 Open Meeting Minutes: Ms. Rogers called for a motion to approve the minutes form the open meeting of December 11, A motion was made by Mr. Hutton. Second by Ms. McCollum. All members voted aye and Ms. Rogers declared the motion approved. V. Public Comment: There was no public comment. Page 1 of 3

4 RESOLUTIONS VI. Resolution 41: Resolution of Columbia Community Housing Trust Authorizing Entering Into Transactions to Develop the Oak Towers Apartments Project. Mr. Steinhaus explained that Resolution 41 will authorize the Columbia Community Housing Trust to enter into transaction to develop the Oak Towers Apartments Project. Ms. Rogers called for further discussion and there was none. Ms. Rogers called for a motion to approve Resolution 41 as presented. A motion was made by Mr. Hutton. Second by Ms. McCollum. Upon a roll call vote of the motion, the following vote was recorded: Yes: No: Lewis, Colyer, Hutton, McCollum, Rogers None VII. Resolution 42: Resolution of Columbia Community Housing Trust, as Sole Member of Oak Towers Housing GP, LLC Authorizing Oak Towers Housing GP, LLC to Enter into Transactions to Develop the Oak Towers Apartments Project. Mr. Steinhaus explained that Resolution 42 will authorize the Oak Towers Housing GP, LLC to enter into transactions to develop the Oak Towers Apartments Project. Ms. Rogers called for further discussion and there was none. Ms. Rogers called for a motion to approve Resolution 42 as presented. A motion was made by Mr. Hutton. Second by Ms. McCollum. Upon a roll call vote of the motion, the following vote was recorded: Yes: No: Lewis, Colyer, Hutton, McCollum, Rogers None VIII. Resolution 43: Resolution of the Columbia Community Housing Trust, as Sole Member of Oak Towers Housing GP, LLC Authorizing Oak Towers Housing Development Group, LP to Enter into Transaction to Develop the Oak Towers Apartments Project. Mr. Steinhaus explained that Resolution 43 will authorize Oak Towers Housing Development Group, LP to enter into transaction to develop the Oak Towers Apartments Project. Ms. Rogers called for further discussion and there was none. Ms. Rogers called for a motion to approve Resolution 43 as presented. A motion was made by Mr. Lewis. Second by Mr. Hutton. Upon a roll call vote of the motion, the following vote was recorded: Yes: No: Lewis, Colyer, Hutton, McCollum, Rogers None Page 2 of 3

5 IX. Board of Directors Comments: There were none. X. Adjournment Ms. Rogers called for a motion to adjourn the meeting. Motion was made by Ms. McCollum. Second by Mr. Lewis. Meeting adjourned at 7:00 p.m. Genie Rogers, Chair Date Bob Hutton, Secretary Date Certification of Public Notice I Phil Steinhaus, Executive Direction of the Columbia Community Housing Trust, do hereby certify that on October 14, 2016, I posted public notice of the October 18, 2016 Columbia Community Housing Trust meeting and distributed copies of the notice and agenda go the Board of Directors and the local media. The meeting notice and agenda was also distributed to the public upon request. The complete agenda packet was available for review at all Columbia Housing Authority (CHA) offices during regular business hours and posted on the CHA web site at: Phil Steinhaus, Executive Director Columbia Community Housing Trust Date Page 3 of 3

6 Columbia Community Housing Trust Board Resolution Staff Report To: Columbia Community Housing Trust Board of Directors From: Phil Steinhaus, Executive Director Date: January 17, 2017 RE: Resolution 44: Resolution of Bryant Walkway Housing Development Group, LP Authorizing Bryant Walkway Housing GP, LLC to Enter into Transactions to Develop the Bryant Walkway Apartments Project. Resolution 45: Resolution of Bryant Walkway II Housing Development Group, LP Authorizing Bryant Walkway II Housing GP, LLC to Enter into Transactions to Develop the Bryant Walkway Apartments II Project. On October 18, 2016, the Board of the Columbia Community Housing Trust (CCHT) adopted Resolutions #38 and #40 authorizing the Bryant Walkway Housing GP, LLC and Bryant Walkway II Housing GP, LLC respectively to develop the Bryant Walkway Apartments and Bryant Walkway Apartments II projects. The Missouri Housing Development Commission has reviewed Resolutions #38 and #40 and has requested that the following paragraph be revised in each of the resolutions to add the italicized and underlined words below: FURTHER RESOLVED, the General Partner, on behalf of the Partnership, is hereby authorized and empowered to execute and deliver such documents and agreements as are required by MHDC to obtain construction and permanent financing in accordance with the Firm Commitment from MHDC, including, but not by way of limitation, MHDC's Regulatory Agreement and Land Use Restriction Agreement or through another lender at comparable terms. Executive Director Recommendation: Adopt Resolutions #44 and #45 approving the revisions to Resolutions #38 and #40 as requested by the Missouri Housing Development Commission.

7 Columbia Community Housing Trust Board Resolution RESOLUTION #44 RESOLUTION OF BRYANT WALKWAY HOUSING DEVELOPMENT GROUP, LP AUTHORIZING BRYANT WALKWAY HOUSING GP, LLC TO ENTER INTO TRANSACTIONS TO DEVELOP THE BRYANT WALKWAY APARTMENTS PROJECT The undersigned, on January 17, 2017 at a regular meeting of the Board of Directors (the Board ) of the Columbia Community Housing Trust, a Missouri nonprofit corporation ( CCHT ) during which a quorum of the members were in attendance, hereby adopts the following resolutions in connection with the BRYANT WALKWAY APARTMENTS PROJECT (the Project ): WHEREAS, on or about September 6, 2016, the Housing Authority of the City of Columbia, Missouri submitted a Project development proposal to the Missouri Housing Development Commission ( MHDC ); WHEREAS, the Project will be owned by Bryant Walkway Housing Development Group, LP, a Missouri limited partnership (the Partnership ); WHEREAS, the organizational structure of the Partnership will consist of Bryant Walkway Housing GP, LLC, a Missouri limited liability company ( Bryant Walkway GP or General Partner ) and CCHT which will serve as the sole member of the General Partner; WHEREAS, the Board of CCHT at its August 16, 2016 meeting passed resolutions authorizing the CCHT to participate in the development of the Project and to take all steps necessary to do so; WHEREAS, CCHT, the sole member of General Partner and the General Partner, pursuant to the Missouri Limited Liability Company Act, Revised Statutes of Missouri 1993 ( RSMo ) Chapter 347 (the Act ) have the power to enter into the transactions described herein pursuant to General Partner s operating agreement dated August 16, 2016; NOW THEREFORE BE IT RESOLVED, that the CCHT hereby authorizes, ratifies and confirms the actions previously taken in association with the Project. FURTHER RESOLVED, that the CCHT, as the sole member of the General Partner authorizes the General Partner to take all actions required to develop the Project, including but not limited to, the execution of an initial limited partnership agreement, a development services agreement and other documents necessary to facilitate the development of the Project. FURTHER RESOLVED, the General Partner, on behalf of the Partnership, is hereby authorized and directed to: (i) enter into an initial limited partnership agreement, (ii) an amended and restated agreement of limited partnership, (iii) enter into all guaranty agreements required by the limited partnership, (iv) execute and deliver any and all documents, instruments or agreements contemplated by, or necessary or required in order to effectuate, the foregoing. FURTHER RESOLVED, the General Partner, on behalf of the Partnership, is hereby authorized and empowered to execute and deliver such documents and agreements as are required by MHDC to obtain construction and permanent financing in accordance with the Firm Commitment from MHDC, including, but

8 not by way of limitation, MHDC's Regulatory Agreement and Land Use Restriction Agreement or through another lender at comparable terms. FURTHER RESOLVED, the General Partner, on behalf of the Partnership, is hereby authorized and empowered to execute and deliver such documents and agreements as are required by any other lender to obtain financing for the Project. FURTHER RESOLVED, the General Partner, on behalf of the Partnership, is hereby authorized and empowered to take such additional steps to do any and all things which are deemed necessary or appropriate to carry out the foregoing resolutions. FURTHER RESOLVED, the General Partner, is hereby authorized and directed, to execute and deliver such other documents, and to take such other actions, in its sole discretion, it may deem appropriate in order to consummate the transactions contemplated herein, and all documents heretofore or hereafter executed and all actions heretofore or hereafter taken by such General Partner, are hereby ratified and confirmed and shall be fully binding and enforceable upon the Partnership. FURTHER RESOLVED, that Philip Steinhaus as Executive Director of the sole Member of the General Partner or Genie Rogers, the President of the Board of the sole Member of the General Partner, are hereby authorized and directed to execute the partnership agreement, the Guaranty, and all other agreements, documents, licenses, instruments and certificates all in the form approved by such officer for signature (as evidenced by his signature thereon) necessary or appropriate in order to effectuate the transactions set forth above and to do, or cause to be done all other actions necessary or appropriate in order to effectuate the transactions set forth above. FURTHER RESOLVED, that these Resolutions are intended to be and may be relied upon by any person or entity involved in any one or more of the actions comprising the transactions set forth herein. FINALLY RESOLVED, that the resolutions were adopted on behalf of the Partnership regarding the development of the Project and concerning the transactions referred to herein and the same have not been amended, repealed or modified. IN WITNESS WHEREOF, the undersigned has executed this instrument effective as of January 17, BRYANT WALKWAY HOUSING DEVELOPMENT GROUP, LP a Missouri limited partnership By: By: BRYANT WALKWAY HOUSING GP, LLC a Missouri limited liability company COLUMBIA COMMUNITY HOUSING TRUST, a Missouri nonprofit corporation, its sole member Genie Rogers, President Bob Hutton, Secretary

9 Columbia Community Housing Trust Board Resolution RESOLUTION #45 RESOLUTION OF BRYANT WALKWAY II HOUSING DEVELOPMENT GROUP, LP AUTHORIZING BRYANT WALKWAY II HOUSING GP, LLC TO ENTER INTO TRANSACTIONS TO DEVELOP THE BRYANT WALKWAY APARTMENTS II PROJECT The undersigned, on January 17, 2017 at a regular meeting of the Board of Directors (the Board ) of the Columbia Community Housing Trust, a Missouri nonprofit corporation ( CCHT ) during which a quorum of the members was in attendance, hereby adopts the following resolutions in connection with the BRYANT WALKWAY APARTMENTS II PROJECT (the Project ): WHEREAS, on or about September 6, 2016, the Housing Authority of the City of Columbia, Missouri submitted a Project development proposal to the Missouri Housing Development Commission ( MHDC ); WHEREAS, the Project will be owned by Bryant Walkway II Housing Development Group, LP, a Missouri limited partnership (the Partnership ); WHEREAS, the organizational structure of the Partnership will consist of Bryant Walkway II Housing GP, LLC, a Missouri limited liability company ( Bryant Walkway II GP or General Partner ) and CCHT which will serve as the sole member of the General Partner; WHEREAS, the Board of CCHT at its August 16, 2016 meeting passed resolutions authorizing the CCHT to participate in the development of the Project and to take all steps necessary to do so; WHEREAS, CCHT, the sole member of General Partner and the General Partner, pursuant to the Missouri Limited Liability Company Act, Revised Statutes of Missouri 1993 ( RSMo ) Chapter 347 (the Act ) have the power to enter into the transactions described herein pursuant to General Partner s operating agreement dated August 16, 2016; NOW THEREFORE BE IT RESOLVED, that the CCHT hereby authorizes, ratifies and confirms the actions previously taken in association with the Project. FURTHER RESOLVED, that the CCHT, as the sole member of the General Partner authorizes the General Partner to take all actions required to develop the Project, including but not limited to, the execution of an initial limited partnership agreement, a development services agreement and other documents necessary to facilitate the development of the Project. FURTHER RESOLVED, the General Partner, on behalf of the Partnership, is hereby authorized and directed to: (i) enter into an initial limited partnership agreement, (ii) an amended and restated agreement of limited partnership, (iii) enter into all guaranty agreements required by the limited partnership, (iv) execute and deliver any and all documents, instruments or agreements contemplated by, or necessary or required in order to effectuate, the foregoing. FURTHER RESOLVED, the General Partner, on behalf of the Partnership, is hereby authorized and empowered to execute and deliver such documents and agreements as are required by MHDC to obtain construction and permanent financing in accordance with the Firm Commitment from MHDC, including, but

10 not by way of limitation, MHDC's Regulatory Agreement and Land Use Restriction Agreement or through another lender at comparable terms. FURTHER RESOLVED, the General Partner, on behalf of the Partnership, is hereby authorized and empowered to execute and deliver such documents and agreements as are required by any other lender to obtain financing for the Project. FURTHER RESOLVED, the General Partner, on behalf of the Partnership, is hereby authorized and empowered to take such additional steps to do any and all things which are deemed necessary or appropriate to carry out the foregoing resolutions. FURTHER RESOLVED, the General Partner, is hereby authorized and directed, to execute and deliver such other documents, and to take such other actions, in its sole discretion, it may deem appropriate in order to consummate the transactions contemplated herein, and all documents heretofore or hereafter executed and all actions heretofore or hereafter taken by such General Partner, are hereby ratified and confirmed and shall be fully binding and enforceable upon the Partnership. FURTHER RESOLVED, that Philip Steinhaus as Executive Director of the sole Member of the General Partner or Genie Rogers, the President of the Board of the sole Member of the General Partner, are hereby authorized and directed to execute the partnership agreement, the Guaranty, and all other agreements, documents, licenses, instruments and certificates all in the form approved by such officer for signature (as evidenced by his signature thereon) necessary or appropriate in order to effectuate the transactions set forth above and to do, or cause to be done all other actions necessary or appropriate in order to effectuate the transactions set forth above. FURTHER RESOLVED, that these Resolutions are intended to be and may be relied upon by any person or entity involved in any one or more of the actions comprising the transactions set forth herein. FINALLY RESOLVED, that the resolutions were adopted on behalf of the Partnership regarding the development of the Project and concerning the transactions referred to herein and the same have not been amended, repealed or modified. IN WITNESS WHEREOF, the undersigned has executed this instrument effective as of January 17, BRYANT WALKWAY HOUSING II DEVELOPMENT GROUP, LP a Missouri limited partnership By: By: BRYANT WALKWAY II HOUSING GP, LLC a Missouri limited liability company COLUMBIA COMMUNITY HOUSING TRUST, a Missouri nonprofit corporation, its sole member Genie Rogers, President Bob Hutton, Secretary

11 Columbia Community Housing Trust Board Resolution Staff Memo To: Columbia Community Housing Trust Board of Directors From: Phil Steinhaus, Executive Director Date: January 17, 2017 RE: Resolution 46: Resolution of the Columbia Community Housing Trust to Donate Funds from its Operating Fund, Not to Exceed $25,000, to the Mid-Missouri Veterans Housing Development Group, LP for the Construction of a Drainage System in the Basement of the Patriot Place Apartments and for Paving the Basement with Concrete to Improve the Utility of the Basement. The Columbia Housing Authority completed construction of the Patriot Place Apartments in April 2016, building 25 one-bedroom apartments for homeless U.S. Military Veterans participating in the HUD- Veterans Affairs Supportive Housing (VASH) program. The apartments were constructed by renovating a former motel building which contained 40 motel rooms. The motel also included an unpaved basement area approximately covering two-thirds of the building footprint. The Columbia Community Housing Trust (CCHT) is the sole member of the General Partner and Managing Member of the Mid-Missouri Veterans Housing GP, LLC. The Mid-Missouri Veterans Housing GP, LLC is a partner in the Mid-Missouri Veterans Housing Development Group, LP, which is a limited partnership that owns the property. The Columbia Community Housing Trust is proposing to donate funds from its operating fund, not to exceed $25,000, to the Mid-Missouri Veterans Housing Development Group, LP for the construction of a drainage system in the basement of the Patriot Place Apartments and for paving the basement with concrete to improve the utility of the basement. Installing a drainage system and paving the basement will improve the utility of the basement area for storage and address any moisture issues in the basement arising from the soil or from any potential water leaks from the apartments above. The basement at Patriot Place only has a gravel floor and no floor drains at this time. Our plan is to install a concrete floor slab and add floor drains in the basement. Hydrostatic pressure or ground water can enter the basement around the building foundation or through the existing gravel. Greg Willingham, Director of Maintenance and Modernization has noticed water in the basement after a large rain fall due to Hydrostatic pressure. Also, if we ever had an apartment that flooded the water would go to the basement and the water would sit in the basement gravel until it could dry out.

12 Installing the concrete slab should prevent hydrostatic ground water from entering the basement floor and having floor drains in place would allow any water that leak from an apartment flood will be directed to the floor drains and the water would not pond or stand in the basement anymore. We don t want any water or moisture issues in the basement since the moisture could cause future problems if the basement stays wet. We have a furnace and an AC unit for the basement that helps dry out the basement some but the basement needs a finished concrete floor with drains. The CCHT currently has $48,016 in its operating fund. The CCHT has earned $15,167 in interest during the past two year on funds being held in the account restricted for funding renovations of our public housing properties. This Restricted Account is holding funds transferred from the Columbia Housing Authority s public housing operations and capital funds for the renovation of Stuart Parker Apartments with Paquin Tower, Bear Creek Apartments, and Oak Towers as follows: Stuart Parker Apartments with Paquin Tower... $376,329 Bear Creek Apartments... $350,000 Oak Towers... $130,000 The Rental Assistance Demonstration (RAD) program allowed the Columbia Housing Authority to transfer these funds to assist with the renovation of these properties. The CCHT has a current loan balance of $48,921 for the purchase of the land for Patriot Park. The CCHT is also earning revenues from its two rental properties. I believe that there is potential to raise additional funds in the future to help retire the debt on Patriot Park. Staff Recommendation: Adopt Resolution 46 authorizing the donation of funds from the Columbia Housing Authority operating fund, not to exceed $25,000, to the Mid-Missouri Veterans Housing Development Group, LP for the construction of a drainage system in the basement of the Patriot Place Apartments and for paving the basement with concrete to improve the utility of the basement.

13 Columbia Community Housing Trust Board Resolution RESOLUTION #46 Resolution of the Columbia Community Housing Trust to Donate Funds from its Operating Fund, Not to Exceed $25,000, to the Mid-Missouri Veterans Housing Development Group, LP for the Construction of a Drainage System in the Basement of the Patriot Place Apartments and for Paving the Basement with Concrete to Improve the Utility of the Basement. WHEREAS, The Columbia Housing Authority completed construction of the Patriot Place Apartments in April 2016, building 25 one-bedroom apartments for homeless U.S. Military Veterans participating in the HUD-Veterans Affairs Supportive Housing (VASH) program; and WHEREAS, The Patriot Place Apartments were constructed by renovating a former motel building which contained 40 motel rooms. The motel also included an unpaved basement area approximately covering two-thirds of the building footprint; and WHEREAS, The Columbia Community Housing Trust (CCHT) is the sole member of the General Partner and Managing Member of the Mid-Missouri Veterans Housing GP, LLC. The Mid-Missouri Veterans Housing GP, LLC is a partner in the Mid-Missouri Veterans Housing Development Group, LP, which is a limited partnership that owns the property. WHEREAS, Installing a drainage system and paving the basement will improve the utility of the basement area for storage and address any moisture issues in the basement arising from the soil or from any potential water leaks from the apartments above. NOW, THEREFORE, BE IT RESOLVED that the Board of Directors of the Columbia Community Housing Trust hereby adopts Resolution #46 approving the donation of funds from its operating fund, not to exceed $25,000, to the Mid-Missouri Veterans Housing Development Group, LP for the construction of a drainage system in the basement of the Patriot Place Apartments and for paving the basement with concrete to improve the utility of the basement as attached hereto and made a part hereof. Genie Rogers, President Bob Hutton, Secretary Adopted January 17, 2017