HomeMy WebLinkAbout2008-01-24 Regular MeetingState of Texas
County of Tarrant
City of Grapevine
The Board of Commissioners of the Grapevine Housing Authority met in Regular
Session on this the 24th day of January, 2008 in the Conference Room of Grapevine
Housing Authority, with the following members present to wit:
Marian Nicastro Chair
Cathy Martin Vice Chair
Jane Everett Financial Officer
B.J. Martin Commissioner
Terri Rushing Resident Commissioner
Constituting a quorum, with the following also present:
Debra Wells
Bill Gaither
Executive Director
Administrative Services Director
CALL TO ORDER
Chairman Cathy Martin called the meeting to order at 4:00 p.m.
REPORT OF THE EXECUTIVE DIRECTOR (INFORMATIONAL ONLY)
Item #1. Rent Delinquency and Information Sheet
The Executive Director reported to the Board on the rent delinquencies, number of
empty units, work orders and statistical information for the waiting list for Public Housing
from November 10, 2007 through January 18, 2008. Also reported was the statistical
information for the Section 8 Program including number of Vouchers leased up, cost per
voucher, number of applications on the waiting list, and the Portability and Receipts
report. Portability accounts receivables aging report included.
Item #2. Capital Funds Report
The Board was presented with a copy of the monthly Capital Funds Report.
Item #3 Quarterly Investment Report
The Board was presented with the Quarterly Investment Report ending December 31,
2007
Item #4 Update on the Irrigation Proiect
The Board was provided with an update on the progress of the irrigation project
underway.
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NEW BUSINESS
Item #1 Consideration of the minutes for the Board Meeting held November 15,
2007
The minutes had a typographical error on page 2, Item #2 Election of Officers;
Commissioner Nicastro's name is misspelled.
Commissioner Marian Nicastro made a motion to accept the minutes as amended.
Commissioner Jane Everett seconded the motion.
Ayes: Nicastro, C. Martin, Everett, BJ Martin, and Rushing
Nayes: None
Absent: None
Item #2 Consideration and discussion of amendment to retirement fund to allow
employees to borrow from their accounts.
The Board was provided an information sheet that outlined the general loan provisions
and restrictions to be considered for adoption to the employee retirement plan. The
Board discussed the pros and cons of adopting the loan provision. It was decided that
ultimately the money belongs to the employees and since there is no liability to the
housing authority they should be allowed to borrow against their account.
Commissioner Rushing made a motion to amend the employee retirement plan effective
February 1, 2008 to allow for loans; and to authorize Chairman Cathy Martin to sign the
resolution provided by the Retirement Company.
Commissioner Marian Nicastro seconded the motion.
Ayes: Nicastro, C. Martin, Everett, BJ Martin and Rushing
Nayes: None
Absent: None
Item #3 Discussion of the Audited Financial Statements for the year ended
12/31/2006.
The Board was provided with a copy of the Audited Financial Statement for the year
ended 12/31/2006, which included Management's Discussion and Analysis (MD&A).
The Board was provided a separate copy of the MD&A for discussion purposes.
The Executive Director apologized for not getting the financial statements on the
November agenda. The Board stated our financial position looked great and has
improved from the previous years.
No Action taken
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ADJOURNMENT
Commissioner Rushing made a motion the meeting be adjourned. Commissioner
Nicastro seconded the motion.
Ayes: Nicastro, C. Martin, Everett, BJ Martin & Rushing
Nayes: None
Absent: None
Motion passed. Meeting adjourned at 5:00 p.m.
PASSED AND APPROVED BY THE BOARD OF COMMISSIONERS OF THE
GRAPEVINE HOUSING AUTHORITY ON THE 25TH DAY OF FEBRUARY 2008.
APPROVED:
Cathy Martin, Chair
ATTEST:
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Debra L. Wells,
Secretary
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