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BOULDER HOUSING PARTNERS
REGULAR MEETING OF THE BOARD OF COMMISSIONERS
OCTOBER 12, 2015 2:30 PM
4800 BROADWAY, BOULDER COLORADO
Our primary mission is to provide quality affordable housing that is developed and managed with respect for
the dignity of all involved. We also seek to create a sense of community strength and spirit that supports
resident efforts to realize success in their lives.
REGULAR AGENDA
I. Call to order and Determination of a Quorum 2:30
II. Public Participation**
III. Partnership Awards 2:35
IV. Board Development-Boulder Valley Comprehensive Plan Process 2:45
V. Approval of the Agenda and Consent Agenda 3:15
1. Call for Executive Session per Colorado Statute C.R.S. 24-6-402(4)(f) to discuss
Real Estate and Personnel matters
2. Minutes from September 1, 2015
3. Minutes from September 24, 201
4. 2016 MTW Annual Plan
• i. Board Action: Approval of Resolution #17: Approval of 2016 MTW Annual Plan
VI. Action/Discussion Agenda 3:30
1. Management and Finance
a. Finance Committee Report
b. August 2015 Financial Summary
c. 2016 Proposed Pay Grade Changes
2. Board Business 4:00
a. Board Announcements
b. Outreach Committee Report
c. 2015 Q3 Work Plan and Benchmarks Update
d. Conflict of Interest Waiver Consideration
3. Development 4:30
a. Development Committee Report
4. Resident Services 4:45
a. RRC Report
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VII. Update and Information Items
1. Palo Park
2. Project Renovate
3. Development Project Tracking
4. City, State and Federal Issues Summary
VIII. Closing Matters and Wrap Up
IX. Adjourn
** Any member of the public is invited to address the Board on any topic that is on, or not on, the agenda during
Public Participation. Anyone wishing to speak will have the floor for a maximum of 3 minutes.
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Please note, the numbering of the following items corresponds to the Board
meeting agenda
V. CONSENT ITEMS
1. Minutes from September 1, 2015
2. Minutes from September 24, 2015: Special meeting to consider
approval of a BHP loan to Boulder Communities LLLP for Project
Renovate
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BOULDER HOUSING PARTNERS
ANNUAL MEETING OF THE BOARD OF COMMISSIONERS
SEPTEMBER 1, 2015 2:30 PM
BHP OFFICE, 4800 N. BROADWAY, BOULDER COLORADO
Commissioner McCormick Betsey Martens Public:
Commissioner McCord
Commissioner Ruzzin
Commissioner Klerman
Penny Hannegan
Rene Brodeur
Laura Sheinbaum
Commissioner Harris Jim Koczela
Commissioner Griffin(absent) Jeremy Ehrhart
Commissioner Soraci(absent)
Commissioner Hagerty(absent)
Commissioner Shoemaker
Tim Beal
Lauren Schevets
Dani Vachon
Karen Kreutzberg
I. Call to order and Determination of a Quorum
Commissioner McCormick called the regular meeting of the Board of Commissioners to
order at 2:30 pm.
A quorum was declared.
II. Public Participation
There was no public participation
III. Approval of the Meeting and Consent Agenda
Consent agenda items approved:
1. Minutes from August 10, 2015
2. Resolution #16: Rental Assistance Demonstration (RAD) Program Administrative
Plan Requirements
3. 2016 MTW Annual Plan Draft for release to the public
COMMISSIONER HARRIS MADE A MOTION TO RECESS INTO EXECUTIVE
SESSION AT THE END OF THE MEETING AS PER COLORADO STATUTE
C.R.S. 24-6-402(4)(F) TO DISCUSS PERSONNEL MATTERS. COMMISSIONER
SHOEMAKER SECONDED THE MOTION. The motion passed unanimously.
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COMMISSIONER KLERMAN MOVED TO APPROVE THE MEETING AND
CONSENT AGENDA. COMMISSIONER RUZZIN SECONDED THE MOTION.
The motion passed unanimously.
IV. Board Governance: Board Elections
Governance
Commissioner Klerman was presented as the nominee for chairwoman of the Board of
Commissioners. Commissioners Ruzzin and Harris were presented as the slate of
candidates for the office of vice chairperson. Commissioner McCormick invited
Commissioners Ruzzin and Harris to address the Board about their qualifications and
interest in becoming vice chairperson. Commissioner McCormick opened the floor for
additional nominations.
COMMISSIONER MCCORD MADE A MOTION NOMINATING
COMMISSIONER KLERMAN AS CHAIR OF THE BOARD OF
COMMISSIONERS. COMMISSIONER RUZZIN SECONDED THE MOTION.
After discussion, Commissioner Klerman’s nomination was approved unanimously.
Following discussion about how to manage an election with two candidates for Vice
Chair, the Board decided to ask each Board member to vote for a single candidate.
The results were 4 votes for Mark Ruzzin and 2 votes for Dick Harris. Mark Ruzzin
will serve as BHP Board Vice Chair for the next term.
V. Action and Discussion Agenda
1. Board Business
Board Announcements
Commissioner McCormick confirmed that the Commissioner’s Annual Dinner will follow the
October 12 Board meeting.
Commissioner Ruzzin informed the Board that the 10Year Plan to End Homelessness Advisory
Board would be hosting a group of interested developers to discuss the process of developing
Permanent Supportive Housing. The forum will be held on September 11 at Frasier Meadows.
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2014 Annual Report
The Commissioners gave kudos to the staff for compiling the 2014 Annual Report.
COMMISSIONER KLERMAN MOVED TO APPROVE THE 2014 ANNUAL REPORT
AS PRESENTED IN THE BOARD PACKET. COMMISSIONER SHOEMAKER
SECONDED. The motion passed unanimously.
Outreach Committee Report: Recommendations on BHP’s comments on the Housing Boulder
draft plan
The Commissioners reviewed and discussed the talking points for the Outreach Committee and
BHP staff during the Housing Boulder and Boulder Valley Comprehensive Plan (BVCP)
process.
The Board also discussed the proposed questions for city council candidate forums.
Commissioner Ruzzin will finalize the questions and generate a list of candidate forums being
held throughout the election season.
Outreach Committee Report: Development Pays Its Own Way Ballot Initiative
Commissioner Ruzzin stated the Outreach Committee discussed the two ballot initiatives that
have been placed on the ballot by citizen action (Ballot Initiatives 300 and 301) and would like
to propose that BHP adopt a Board statement analyzing the two initiatives. At the August
meeting, the Board adopted a statement outlining its concerns with the Neighborhood’s Right to
Vote ballot initiative. At the September meeting, the Board turned its attention to Development
Shall Pay Its Own Way and identified these concerns:
1. The initiative does not automatically exempt affordable housing
2. The cost of seeking an exemption could be quite expensive.
3. The ballot language is ambiguous and doesn’t allow developers to understand the
potential costs.
4. There could be significant risk to the Palo project with the proposed moratorium if the
measures pass. There could be general increased risk and cost to developers making the
development process even more difficult
COMMISSIONER KLERMAN MOVED TO APPROVE THE TWO BOARD
STATEMENTS ABOUT THE BALLOT INITIATIVES: THE NEIGHBORHOODS’
RIGHT TO VOTE AND DEVELOPMENT SHALL PAY ITS OWN WAY.
COMMISSIONER RUZZIN SECONDED. The motion passed unanimously.
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2. Management and Finance
July 2015 Financial Summary
There was not a Finance Committee meeting in August.
Jim gave an overview of the July 2015 financial statements.
3. Development Report
Project Renovate: Resolutions #13, 14, 15
Laura S. Jim K. and Betsey presented the three resolutions to enable closing the financial
transaction for Project Renovate on September 30, 2015. The three resolutions gave Betsey
authorization on behalf of BHP to:
Resolution # 13) Issue Private Activity Bonds,
Resolution #14) Enter into a loan agreement and equity partnership, and
Resolution #15) enter into HAP Contracts for four properties converting from public
housing via the RAD Program and two properties converting via the Section 18 Program
COMMISSIONER KLERMAN MOVED TO APPROVE RESOLUTION #13,
14 and 15 AS AMENDED. COMMISSIONER SHOEMAKER SECONDED THE
MOTION. The motion passed unanimously.
4. Resident Services
Resident Representative Committee Report
There was not a RRC report as Commissioner Griffin was absent.
BHP Foundation
Rene gave an update about the work of the Foundation specific to Dream Big and Bringing
School Home. He reported that he and Betsey had met with Calvin Johnson, Assistant Secretary
of HUD who has a strong interest in internet access for public housing residents. Rene also
stated that the Federal Communications Commission (FCC) is also interested in rewriting the
policy language to enable BHP to partner with the Boulder Valley School District to extend their
internet signal to BHP family properties. Rene reported he would be presenting the Dream Big
collective impact model to both the Boulder Early Childhood Council and Foothills United Way
Community Impact Committee in September. He reminded the Board that the I Have a Dream
fundraising event is scheduled for Oct.2nd
at the Westminster Westin Conference Center.
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VI. Executive Session per Colorado Statute C.R.S. 24-6-402(4)(f) to discuss Personnel
matters.
The Board met in executive session for about twenty minutes, at which time the only matters
discussed were those related to personnel matters.
COMMISSIONER MCCORD MADE A MOTION TO ADJOURN THE EXECUTIVE
SESSION OF THE BOARD OF COMMISSIONERS. COMMISSIONER RUZZIN
SECONDED THE MOTION. The motion passed unanimously.
The Board returned to regular session at 5:05 pm
VII. Closing Matters
COMMISSIONER KLERMAN MADE A MOTION TO APPROVE THE AMENDED
EXECUTIVE DIRECTOR’S 2015 CONTRACT. COMMISSIONER RUZZIN
SECONDED THE MOTION. The motion passed unanimously.
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VIII. Adjourn
COMMISSIONER MCCORD MADE A MOTION TO ADJOURN THE REGULAR
MEETING OF THE BOARD OF COMMISSIONERS. COMMISSIONER KLERMAN
SECONDED THE MOTION. The motion passed unanimously.
The regular session of the Board of Commissioners adjourned at 5:05pm
Seal
DATE: 9/1/15
Angela McCormick, CHAIR
Boulder Housing Partners
BETSEY MARTENS
Executive Director
Penny Hannegan
Recording Secretary
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BOULDER HOUSING PARTNERS
SPECIAL MEETING OF THE BOARD OF COMMISSIONERS
SEPTEMBER 24, 2015 4:00 pm
BHP OFFICE, 4800 N. BROADWAY, BOULDER COLORADO
Commissioner Klerman
Commissioner Shoemaker
Betsey Martens
Laura Sheinbaum
Public:
There was no public
Commissioner Soraci
Commissioner McCord(absent)
Commissioner Ruzzin (phone)
Commissioner Harris (phone)
Jim Koczela
Penny Hannegan
in attendance
Commissioner Hagerty
Commissioner Griffin
I. Call to order
Commissioner Klerman called the Special meeting of the Board of Commissioners to order at
4:00 pm.
II. Meeting Opening
A quorum was declared.
III. Public Participation
There was no public participation.
IV. Approval of the Meeting Agenda
COMMISSIONER KLERMAN MADE A MOTION TO APPROVE THE AGENDA.
COMMISSIONER SORACI SECONDED THE MOTION.
1. Additional Loan to Boulder Communities, LLLP
Betsey, Jim and Laura Sheinbaum, Project Renovate Project Manager, gave an overview of the
fiscal impact of the final round of pricing from Palace (additional $5.8M) and the resulting need
for BHP to contribute an additional loan to Boulder Communities LLLP, of $1,153,000 to close
the gap and allow Project Renovate to close on time.
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COMMISSIONER SORACI MADE A MOTION TO APPROVE THE LOAN BY BHP OF
$1,153,000 TO BOULDER COMMUNITIES LLLP AS DEBT TO THE PROJECT.
COMMISSIONER KLERMAN SECONDED THE MOTION. The motion passed
unanimously.
VI. Adjourn
COMMISSIONER KLERMAN MADE A MOTION TO ADJOURN THE SPECIAL
MEETING OF THE BOARD OF COMMISSIONERS. COMMISSIONER SORACI
SECONDED THE MOTION. The motion passed unanimously.
The special session of the Board of Commissioners adjourned at 4:30 pm
Seal
DATE: 9/24/15
KAREN KLERMAN, CHAIR
Boulder Housing Partners
BETSEY MARTENS
Executive Director
Penny Hannegan
Recording Secretary
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c. 2016 MTW Annual Plan
Presenter: Betsey Martens, Karen Kreutzberg and Rene Brodeur
Executive Summary
On September 2, 2015 the Board approved the draft MTW plan for public release to
begin the required 30 day public comment period. At this October meeting we are
recommending that the Board approve the plan with one amendment.
The activities included in the Plan are:
- Flat Tiered Rent for Housing Choice Work-Abled Families
- Rent Reform for Elderly Households and People with Disabilities
- Next Step Housing
- Landing Landlords
- Bringing School Home Referral Process
The proposed amendment, described below, relates to Bringing School Home.
Staff Recommendation
Approval of the 2016 Moving to Work Annual Plan to be submitted to HUD on October
13, 2015 for final approval.
Strategic Plan Connection:
The proposed activities relate directly to two strategic goals: preserving our inventory
of housing and creating economic and educational opportunity for our customers.
Fiscal Impact:
Overall, the proposed activities have a minimal fiscal impact to the Housing Choice
Program which will be covered by annual funding and current reserves.
Background:
Our final Annual Plan (sent to you electronically) has five proposed activities for 2016,
summarized briefly below:
Activity 1: Flat tiered rent for Housing Choice work-abled families
This activity provides for two changes to the flat tiered rent which was
originally approved and implemented in 2014. The changes are necessary
due to Project Renovate and converting current public housing families to
this rent structure. The two changes include:
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- Increasing the tenant rent within the tiers by 5%
- Reducing the flat fee per ineligible family member to $125
Activity 2: Rent Reform for Elderly Households and People with
Disabilities
This activity was originally approved in 2012 (our first year in the program)
and one change is being proposed this year. In order to keep the rent
calculations for work-abled families and elderly households and people with
disabilities as similar as possible, we are adding the flat fee per ineligible
family member to this rent calculation. This will only affect three current
households that are in this category (elderly households or persons with
disabilities).
Activity 3: Next Step Housing
This activity will provide successful graduates of five transitional housing
programs within our community a place to transition to. Currently, our
partner agencies find it very difficult for their transitional housing clients to
transition out successfully, due to a lack of affordable housing in the market.
A voucher will allow them to move out of the transitional housing program,
thereby freeing up the unit for another household that needs those services,
while also allowing them the ability to afford the rent. BHP is proposing to
use between 6 and 18 vouchers per year from the regular lottery pool to
provide this Next Step Housing.
Activity 4: Landing Landlords
This activity is designed to increase landlord participation in the Housing
Choice Voucher Program. This program does not work without the
participation of private market landlords. This activity is designed to be part
of a larger landlord education program, and the beginning of future ideas
and activities. The elements of this activity include:
- A one-time incentive for new landlords
- Creation of a damage claim fund
- Security deposit revolving loan fund
- Stricter compliance for current participants to move
Activity 5: Bringing School Home Referral Process
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This activity will impact the family units at the renovated public housing
properties (Kalmia, Diagonal Court, Manhattan and Iris Hawthorn). After
renovations are complete, the units designed for families will be targeted for
households with small children in order to implement Bringing School
Home, with the larger goal of disrupting the cycle of poverty by focusing our
service program on helping children achieve success in education.
The 2016 MTW Proposed Activities were shared with the MTW Resident Advisory
Committee on August 10 and 11, 2015. The Committee shared their feedback after
much discussion on all five activities, which overall was supportive. Questions were
raised and answered in conjunction with all the activities. The main concerns were
raised around Activity 5, and are discussed in greater detail below. A public hearing
was held on September 15, 2015. There were no comments received at the public
hearing.
Activity 5: Bringing School Home (BSH) was the focus of extensive outreach. Over
the past two months we presented BSH to the following groups, individuals, and
organizations:
BHP Resident Advisory Committee (English)
BHP Resident Advisory Committee (Spanish)
Boulder Housing Partners Foundation Board of Directors
Advisory Council for the Early Childhood Council of Boulder County
Elizabeth Freedman, Director of Programs, Emergency Family Assistance
Program
Dream Big Steering Committee including:
o Lori Canova (Co-Chair) and Cathie Williamson, “I Have a Dream”
o Rene Brodeur (Co-Chair) and Karin Stayton, Boulder Housing Partners
o Ron Cabrera, Boulder Valley School District
o Fran Ryan, Impact on Education
o Kathryn Coleman, City of Boulder, Department of Human Services
o Alison Rhodes, City of Boulder, Parks and Recreation Department
o Whitney Wilcox, Boulder County
o Jane McConnell and Chris Barge, Community Foundation Serving
Boulder County
o Joe Mendyka, Foothills United Way
David Smith, CEO, Affordable Housing Institute (AHI)
BHP Staff – Lunch and Learn and MTW staff meeting
Laurel Davis and John Concannon, MTW HUD office
Dave Heisterkamp, Attorney
Allison Bell Shuman, Executive Director, Baltimore Regional Housing
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Partnership (BRHP)
Barbara Samuels, Managing Attorney, Fair Housing, ACLU of Maryland and
Board Member for BRHP
Willem van Vliet, Professor Emeritus, CU Program in Environmental Design
As a result of these many discussions, we made the following change to the proposed
plan. The plan that you saw on September 2 suggested that we would receive referrals
from a broad network of partners. Instead, we are proposing to work with a single
referring partner, Emergency Family Assistance Association (EFAA). We think this
strengthens the program in the following important ways:
1. EFAA will conduct initial screenings and provide referrals to BHP. Working
with one service partner as opposed to multiple referring agencies will
streamline and simplify the referral process.
2. EFAA is a stable partner and can easily provide enough referrals to fill our
vacant units. EFAA has been a service provider in Boulder for families since
1918 and has a strong understanding of Boulder’s families in need of basic
services, stable housing, case management, and education. They assist
approximately 750 families a year with children 0-5. Approximately 80% of
these families are from Boulder.
3. EFAA will provide direct case management for the first three months of the
family’s move-in to help support housing stabilization and connection to other
services.
4. With EFAA conducting initial screenings, there are potential administrative
savings for BHP.
The following is a summary of the input from our outreach. Overall there is strong
support from BHP residents, housing specialists, educators, community planners, and
the community at large for this activity.
1. There is wide support from service partners and community organizations
that this activity will provide a strong foundation to improve educational
outcomes for BHP youth to help ensure economic self-sufficiency as adults.
They recognize that early intervention on brain development for children
0-5 is more effective and efficient than interventions later on.
2. Other service providers in the early childhood domains of education, family
support, social, emotional, and mental health, and physical health are
interested and excited to provide targeted services at the BHP community
centers for this demographic.
3. There was support from BHP families already living in the targeted housing
sites. They encouraged us to develop the services with volunteer
opportunities for them and additional family support.
4. Baltimore Regional Housing Partnership and the Tacoma Housing
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Authority are doing similar activities.
5. Historical data shows that 72% of families moving into these communities
have had children age 0 – 5. Average turnover is 20 units per year, which
means 5 families per year did not have children in this age group. Some
people commented that this is a small number of families affected.
The public comment period also produced some concerns, questions and potential
risks of Activity 5. The following summarizes these comments and outlines our
mitigating response.
1. Is this activity consistent with fair housing laws?
Based on counsel from two attorneys, the MTW HUD staff and other PHAs
already working in this realm1, we believe we are acting in accordance with the
fair housing laws:
EFAA will conduct initial screenings and provide referrals to BHP. This
is important because HUD prefers the use of an expert to select
prospective residents when there is a service component attached to
housing. This is not dissimilar to what we’re doing at Woodlands and
1175 Lee Hill.
We will have a ranking preference for families with young children.
Families with older children will not be denied admission. This
preference is based on meeting the housing, educational, health and
developmental needs of households.
We are not excluding other families from housing options.
We are affecting only 16% of our low-income housing options for
families.
We are not discriminating against a protected class.
While HUD will be the final arbiter of this question, we seek the Board’s
approval to submit the question. We will continue to seek comment on this
concern.
2. Will the activity change the neighborhood composition so that there will be a
higher concentration of 0-5 year olds?
1 Baltimore Regional Housing Partnership and Tacoma Housing Authority are conducting similar
activities.
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It is impossible to predict the future neighborhood composition and ages of
children at the housing sites. However, based on historical data, we think this
risk is minimal or nil. Over the past six years, out of 112 families who moved
into low-income family sites, 72% have had children 0-5. The turnover rate has
been 11%. Families will be able to stay in their housing as the children grow
older. Families with children six years of age or older can move into housing as
long as they have a qualifying child. Current families will continue to live at the
site, which will provide a broad mix of children of all ages.
3. It doesn’t feel fair to further limit housing options for families with children not
aged 0-5.
We propose implementing this preference with 16% of our low-income family
housing options. Families with children of ages 6 and over will continue to
have access to our low-income family housing sites not included in this activity
as well as 719 vouchers in the housing choice program. We acknowledge that
affordable housing options for families in Boulder do not come close to meeting
the demand. However, we believe this ranking preference will be addressing
needs of the community. Our service partners tell us they see an overwhelming
need for housing for families with young children. We also know that providing
housing stability and supportive services for children at an early age will
provide a better chance to achieve the outcomes in Goal 3 of the BHP strategic
plan: Youth are successful in school and have the skills necessary for self-
sufficiency as adults.
4. Will families have to leave the housing program when their children turn 6?
No. BHP will provide housing and a continuum of educational services for the
children and their families as they progress through school.
5. Where do the parents go when the children move out?
Currently, there is a lack of appropriate housing options for families when their
family composition changes. We believe this activity will strengthen the
economic potential for families and their children, thereby increasing options
rather than further reducing them.
6. Won’t this make families want to stay in BHP housing longer than they
currently do?
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We agree this might happen and might need to happen for residents to achieve
academic success and greater potential for economic self-sufficiency.
In conclusion, this public outreach demonstrates that there is strong community
support for Activity 5 and that this activity is an essential element of our Bringing
School Home initiative. Based on feedback and discussions with the community, we
adjusted our process to make EFAA the single referring agency. We will continue to
seek input on this activity and address community concerns if they arise.
Next Steps:
Board adoption of Plan at October 12, 2015 meeting
Submit to HUD for approval by October 15, 2015
Attachments:
• 2016 MTW Annual Plan (sent electronically)
• Resolution #17 Approval of the 2016 MTW Annual Plan
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RESOLUTION #17
SERIES OF 2015
ANNUAL MOVING TO WORK PLAN CERTIFICATIONS OF COMPLIANCE U.S. Department of Housing and Urban Development
Office of Public and Indian Housing
Certifications of Compliance with Regulations: Board Resolution to Accompany the Annual Moving to Work Plan*
Acting on behalf of the Board of Commissioners of the Public Housing Agency (PHA) listed below, as its Chairman or other authorized PHA official if there is no Board of Commissioners, I approve the submission of the Annual Moving to Work Plan for the PHA fiscal year beginning 2016, hereinafter referred to as "the Plan", of which this document is a part and make the following certifications and agreements with the Department of Housing and Urban Development (HUD) in connection with the submission of the Plan and implementation thereof: 1. The PHA published a notice that a hearing would be held, that the Plan and all information relevant to the public hearing was available for public inspection for at least 30 days, that there were no less than 15 days between the public hearing and the approval of the Plan by the Board of Commissioners, and that the PHA conducted a public hearing to discuss the Plan and invited public comment. 2. The PHA took into consideration public and resident comments (including those of its Resident Advisory Board or Boards) before approval of the Plan by the Board of Commissioners or Board of Directors in order to incorporate any public comments into the Annual MTW Plan. 3. The PHA certifies that the Board of Directors has reviewed and approved the budget for the Capital Fund Program grants contained in the Capital Fund Program Annual Statement/Performance and Evaluation Report, form HUD-50075.1. 4. The PHA will carry out the Plan in conformity with Title VI of the Civil Rights Act of 1964, the Fair Housing Act, section 504 of the Rehabilitation Act of 1973, and title II of the Americans with Disabilities Act of 1990. 5. The Plan is consistent with the applicable comprehensive housing affordability strategy (or any plan incorporating such strategy) for the jurisdiction in which the PHA is located. 6. The Plan contains a certification by the appropriate State or local officials that the Plan is consistent with the applicable Consolidated Plan, which includes a certification that requires the preparation of an Analysis of Impediments to Fair Housing Choice, for the PHA's jurisdiction and a description of the manner in which the PHA Plan is consistent with the applicable Consolidated Plan. 7. The PHA will affirmatively further fair housing by examining its programs or proposed programs, identify any impediments to fair housing choice within those programs, address those impediments in a reasonable fashion in view of the resources available and work with local jurisdictions to implement any
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of the jurisdiction's initiatives to affirmatively further fair housing that require the PHA's involvement and maintain records reflecting these analyses and actions. 8. The PHA will comply with the prohibitions against discrimination on the basis of age pursuant to the Age Discrimination Act of 1975. 9. The PHA will comply with the Architectural Barriers Act of 1968 and 24 CFR Part 41, Policies and Procedures for the Enforcement of Standards and Requirements for Accessibility by the Physically Handicapped. 10. The PHA will comply with the requirements of section 3 of the Housing and Urban Development Act of 1968, Employment Opportunities for Low-or Very-Low Income Persons, and with its implementing regulation at 24 CFR Part 135. 11. The PHA will comply with requirements with regard to a drug free workplace required by 24 CFR Part 24, Subpart F. 12. The PHA will comply with requirements with regard to compliance with restrictions on lobbying required by 24 CFR Part 87, together with disclosure forms if required by this Part, and with restrictions on payments to influence Federal Transactions, in accordance with the Byrd Amendment and implementing regulations at 49 CFR Part 24. 13. The PHA will comply with acquisition and relocation requirements of the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 and implementing regulations at 49 CFR Part 24 as applicable. 14. The PHA will take appropriate affirmative action to award contracts to minority and women's business enterprises under 24 CFR 5.105( a). 15. The PHA will provide HUD or the responsible entity any documentation needed to carry out its review under the National Environmental Policy Act and other related authorities in accordance with 24 CFR Part 58. Regardless of who acts as the responsible entity, the PHA will maintain documentation that verifies compliance with environmental requirements pursuant to 24 Part 58 and 24 CFR Part 50 and will make this documentation available to HUD upon its request. 16. With respect to public housing the PHA will comply with Davis-Bacon or HUD determined wage rate requirements under section 12 of the United States Housing Act of 1937 and the Contract Work Hours and Safety Standards Act. 17. The PHA will keep records in accordance with 24 CFR 85.20 and facilitate an effective audit to determine compliance with program requirements. 18. The PHA will comply with the Lead-Based Paint Poisoning Prevention Act and 24 CFR Part 35. 19. The PHA will comply with the policies, guidelines, and requirements of OMB Circular No. A-87 (Cost Principles for State, Local and Indian Tribal Governments) and 24 CFR Part 85 (Administrative
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Requirements for Grants and Cooperative Agreements to State, Local and Federally Recognized Indian Tribal Governments). 20. The PHA will undertake only activities and programs covered by the Plan in a manner consistent with its Plan and will utilize covered grant funds only for activities that are approvable under the Moving to Work Agreement and Statement of Authorizations and included in its Plan. 21. All attachments to the Plan have been and will continue to be available at all times and all locations that the Plan is available for public inspection. All required supporting documents have been made available for public inspection along with the Plan and additional requirements at the primary business office of the PHA and at all other times and locations identified by the PHA in its Plan and will continue to be made available at least at the primary business office of the PHA. Boulder Housing Partners CO016 PHA Name PHA Number/HA Code I hereby certify that all the information stated herein, as well as any information provided in the accompaniment herewith, is true and accurate. Warning: HUD will prosecute false claims and statements. Conviction may result in criminal and/or civil penalties. (18 U.S.C. 1001, 1010, 1012; 31 U.S.C. 3729, 3802) Adopted this 12th day of October, 2015. (SEAL)
_______________________________ Karen Klerman Chair, Board of Commissioners Housing Authority of the City of Boulder ATTEST: _______________ __________ BETSEY MARTENS Executive Secretary *Must be signed by either the Chairman or Secretary of the Board of the PHA's legislative body. This certification cannot be signed by an employee unless authorized by the PHA Board to do so. If this document is not signed by the Chairman or Secretary, documentation such as the by-laws or authorizing board resolution must accompany this certification.
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VI. ACTION/DISCUSSION AGENDA
1. ACTION/DISCUSSION AGENDA: BOARD BUSINESS
a. Board Announcements
b. Board Development
Staff from the City’s Boulder Valley Comp Plan update team will join us to talk about
the process and timeline for the current BVCP plan revision.
c. Outreach Committee Report
d. Partnership Awards
The BHP Partnership Awards program recognizes the efforts of individuals,
businesses, corporate partners, and non-profit and governmental agencies for their
support of BHP and its mission. The award winners in the category of Business and
non-profit partners who make a difference are:
Non-Profit Partner: ReSchool Colorado – Donnell-Kay Foundation—Amy
Anderson
BHP is pleased to award the Donnell-Kay Foundation with a 2015 Partnership Award
for their ReSchool Project. Since collaborating with ReSchool Colorado, BHP has
implemented programs that aid parents in supporting their children for further
engagement in learning activities that enhance their child’s social, emotional,
academic, and physical growth. The Foundation’s innovative approach has helped
BHP parents and their children to experience new learning opportunities, participate
in enriching family activities, and reflect on their roles as their children’s first
teachers. Amy Anderson is the Director of ReSchool Colorado.
Non-Profit Partner: Harvest of Hope Pantry – Barbara O’Neil
BHP is pleased to award Harvest of Hope Pantry with a 2015 Partnership
Award. Harvest of Hope Pantry is a food bank dedicated in their mission to serving
the single poor and poor families in Boulder Housing Partners properties, as well as
the city of Boulder. This organization has helped many of our residents over the
years. When residents visit Harvest of Hope Pantry they are welcomed in a friendly
manner and enter a space where they are able to shop for food in a grocery store-style
23
setting. This organization has made their space both accessible and welcoming to
those living within the city of Boulder.
Volunteer Partner: Intercambio – Caren Phillips
BHP is pleased to award Caren Phillips with a 2015 Partnership Award. Since January
2014, Caren has taught a weekly English class from 6pm until 8pm at the Kalmia
Community Center. In her class, residents learn and practice conversations revolving
around everyday subjects such as work, school, and errands. These discussions give
residents confidence and allows them to feel more secure while performing quotidian
activities in their community. Caren Phillips is a volunteer for Intercambio.
e. 2015 Q3 Work Plan and Benchmarks Update
Attached please find a summary report of our first and second quarter work plan, If you do
a visual scan of the work plan column titled Q3, you’ll see that much of the work plan is
underway or complete. There are no revisions or changes to suggest that are material.
Everything is tracking well.
Attachments
2015 Q3 Work Plan and Benchmark update
24
GO
AL O
NE
: Pre
se
rva
tion
an
d E
xp
an
sio
n
Ensu
re th
e p
rom
ise o
f a d
iverse
com
munity
by p
rese
rvin
g e
xistin
g a
fford
able
housin
g a
nd in
creasin
g in
vento
ry a
nd h
ousin
g ch
oice
for
Bould
er re
sidents.
Q1
Q2
Q3
Q4
Note
s:
OU
TC
OM
ES
:
PRESERVE O
UR E
XIS
TIN
G P
ORTFO
LIO
OF H
OM
ES
AD
D 2
,000 U
NIT
S
AD
D 2
50 U
NIT
S F
OR S
PECIA
L P
OPU
LATIO
NS
Imple
ment P
roje
ct Renovate
inclu
din
g: clo
sing o
f 1st L
IHTC d
eal, fin
al d
esig
n p
lans, d
eal cre
atio
n fo
r rem
ain
ing P
H p
ropertie
s,
relo
catio
n, a
nd m
ain
tain
ing p
ace
of R
AD
phasin
g p
lan.
● ●
√
On sch
edule
to clo
se S
epte
mber 1
, 2015 w
ith
constru
ction to
start e
arly
Octo
ber 2
015
PM
Sta
ff is ready fo
r Q3 re
certifica
tion o
f PH
resid
ents b
y h
iring a
nd tra
inin
g te
mps fo
r Pro
ject R
enovate
by th
e e
nd o
f Q 2
● ●
√
Com
ple
ted o
n-tim
e.
Sta
ff are
train
ed in
Yard
i and P
roje
ct Base
d V
ouch
er e
ligib
ility a
nd w
aitlist m
anagem
ent fo
r Pro
ject R
enovate
by e
nd o
f Q 3
●√
√
Tra
inin
g o
ccurre
d in
March
+ A
pril. V
ouch
er
pro
cessin
g w
as tra
nsfe
rred to
Housin
g C
hoice
in
April.
Initia
l Tax C
redit C
ertifica
tions a
re co
mple
ted fo
r resid
ents in
volv
ed in
Pro
ject R
enovate
by th
e e
nd o
f Q 3
●
●√
Com
ple
ted o
n-tim
e.
Relo
catio
n P
lannin
g in
pla
ce fo
r PH
resid
ents d
isrupte
d b
y R
AD
by e
nd o
f Q 3
● ●
√
Com
ple
ted o
n-tim
e.
Pro
vid
e o
ffsite se
rvice
coord
inatio
n to
resid
ents d
isrupte
d b
y P
roje
ct Renovate
Q2, 3
and 4
● ●
Relo
catio
n co
nsu
ltant co
ntra
ct is in p
lace
. Sta
rt to
support re
sidents n
eedin
g to
find h
om
es w
ith
vouch
ers.
Pro
vid
e co
nsu
ltatio
n o
n th
e d
esig
n o
f com
munity
cente
rs and h
ousin
g u
nits th
roughout th
e p
lannin
g p
hase
of P
roje
ct Renovate
Q1-
Q2.
● ●
√RS T
eam
has b
een p
rovid
ing d
esig
n in
put a
s
requeste
d
Dem
olish
and re
build
1680 Iris b
y e
nd o
f Q2
● ●
√
Pro
ject 9
8%
com
ple
ted; fe
w p
unch
item
s rem
ain
.
Bo
uld
er H
ou
sin
g P
artn
ers
20
15
FIN
AL W
OR
K P
LA
N
In 2
01
5, w
e w
ill tak
e th
e fo
llow
ing
actio
ns to
su
pp
ort th
e g
oa
ls o
f BH
P's
Stra
teg
ic P
lan
1.1
BH
P w
ill pre
se
rve
an
d im
pro
ve
its e
xis
ting
po
rtfolio
to in
cre
ase
the
qu
ality
, va
lue
, an
d m
ark
eta
bility
of a
ll pro
pe
rties in
the
BH
P
po
rtfolio
Page 1
25
GO
AL O
NE
: Pre
se
rva
tion
an
d E
xp
an
sio
n
Ensu
re th
e p
rom
ise o
f a d
iverse
com
munity
by p
rese
rvin
g e
xistin
g a
fford
able
housin
g a
nd in
creasin
g in
vento
ry a
nd h
ousin
g ch
oice
for
Bould
er re
sidents.
Q1
Q2
Q3
Q4
Note
s:
OU
TC
OM
ES
:
PRESERVE O
UR E
XIS
TIN
G P
ORTFO
LIO
OF H
OM
ES
AD
D 2
,000 U
NIT
S
AD
D 2
50 U
NIT
S F
OR S
PECIA
L P
OPU
LATIO
NS
Imple
ment P
roje
ct Renovate
inclu
din
g: clo
sing o
f 1st L
IHTC d
eal, fin
al d
esig
n p
lans, d
eal cre
atio
n fo
r rem
ain
ing P
H p
ropertie
s,
relo
catio
n, a
nd m
ain
tain
ing p
ace
of R
AD
phasin
g p
lan.
● ●
√
On sch
edule
to clo
se S
epte
mber 1
, 2015 w
ith
constru
ction to
start e
arly
Octo
ber 2
015
PM
Sta
ff is ready fo
r Q3 re
certifica
tion o
f PH
resid
ents b
y h
iring a
nd tra
inin
g te
mps fo
r Pro
ject R
enovate
by th
e e
nd o
f Q 2
● ●
√
Com
ple
ted o
n-tim
e.
Sta
ff are
train
ed in
Yard
i and P
roje
ct Base
d V
ouch
er e
ligib
ility a
nd w
aitlist m
anagem
ent fo
r Pro
ject R
enovate
by e
nd o
f Q 3
●√
√
Tra
inin
g o
ccurre
d in
March
+ A
pril. V
ouch
er
pro
cessin
g w
as tra
nsfe
rred to
Housin
g C
hoice
in
April.
Initia
l Tax C
redit C
ertifica
tions a
re co
mple
ted fo
r resid
ents in
volv
ed in
Pro
ject R
enovate
by th
e e
nd o
f Q 3
●
●√
Com
ple
ted o
n-tim
e.
Relo
catio
n P
lannin
g in
pla
ce fo
r PH
resid
ents d
isrupte
d b
y R
AD
by e
nd o
f Q 3
● ●
√
Com
ple
ted o
n-tim
e.
Pro
vid
e o
ffsite se
rvice
coord
inatio
n to
resid
ents d
isrupte
d b
y P
roje
ct Renovate
Q2, 3
and 4
● ●
Relo
catio
n co
nsu
ltant co
ntra
ct is in p
lace
. Sta
rt to
support re
sidents n
eedin
g to
find h
om
es w
ith
vouch
ers.
Pro
vid
e co
nsu
ltatio
n o
n th
e d
esig
n o
f com
munity
cente
rs and h
ousin
g u
nits th
roughout th
e p
lannin
g p
hase
of P
roje
ct Renovate
Q1-
Q2.
● ●
√RS T
eam
has b
een p
rovid
ing d
esig
n in
put a
s
requeste
d
Dem
olish
and re
build
1680 Iris b
y e
nd o
f Q2
● ●
√
Pro
ject 9
8%
com
ple
ted; fe
w p
unch
item
s rem
ain
.
Bo
uld
er H
ou
sin
g P
artn
ers
20
15
FIN
AL W
OR
K P
LA
N
In 2
01
5, w
e w
ill tak
e th
e fo
llow
ing
actio
ns to
su
pp
ort th
e g
oa
ls o
f BH
P's
Stra
teg
ic P
lan
1.1
BH
P w
ill pre
se
rve
an
d im
pro
ve
its e
xis
ting
po
rtfolio
to in
cre
ase
the
qu
ality
, va
lue
, an
d m
ark
eta
bility
of a
ll pro
pe
rties in
the
BH
P
po
rtfolio
Page 1
25
Bo
uld
er H
ou
sin
g P
artn
ers
20
15
FIN
AL W
OR
K P
LA
N
In 2
01
5, w
e w
ill tak
e th
e fo
llow
ing
actio
ns to
su
pp
ort th
e g
oa
ls o
f BH
P's
Stra
teg
ic P
lan
Full in
terio
r and e
xte
rior re
novatio
n o
f Orch
ard
House
com
ple
ted b
y y
ear e
nd
● ●
x
Rece
ived city
fundin
g a
gre
em
ent - n
egotia
ting a
few
item
s. Postp
oned to
Q2-3
2016 to
acco
mm
odate
resid
ents' sch
ool sch
edule
. Pla
nnin
g
to b
egin
in Q
4/Q
1
Repla
ce a
nd Im
pro
ve C
anyon P
oin
te p
ark
ing lo
t and h
eat m
at in
Q2
● ●
√
Com
ple
ted o
n-tim
e.
Com
ple
te v
ario
us n
eeded re
novatio
ns a
nd re
pla
cem
ent w
ork
at A
rapahoe E
ast, F
ooth
ills, Holid
ay, A
rapahoe C
ourt, S
anita
s Pla
ce,
Brid
gew
alk
, and B
roadw
ay E
ast.
● ●
●
Pro
jects u
nderw
ay.
Com
ple
te co
mpre
hensiv
e C
apita
l Impro
vem
ent P
lan fo
r every
pro
perty
by Q
4 ●
●√
Com
ple
ted o
n-tim
e.
Update
the P
ortfo
lio P
lan a
nd se
ek B
oard
adoptio
n b
y e
nd o
f Q2
● ●
●
Com
ple
ted o
n-tim
e. P
ostp
oned B
oard
adoptio
n to
Q4 d
ue to
timin
g.
Com
ple
te tra
nsfe
rs of a
ll curre
nt p
roje
cts (Hig
h M
ar a
nd L
ee H
ill) from
develo
pm
ent to
opera
tions b
y th
e e
nd o
f the Q
2 2
015
● ●
√
Hig
h M
ar la
st paym
ent re
quest in
May. L
ee H
ill
8609s b
y w
eek o
f 5/4
and la
st paym
ent in
June.
Pla
n a
nd d
raft im
ple
menta
tion to
ols, stra
tegie
s and in
tern
al p
roce
ss changes to
maxim
ize e
fficiency
for th
e a
cquisitio
n p
rogra
m b
y Q
1
2015
● ●
Lack
of sta
ffing cre
atin
g d
ela
ys o
n th
is item
.
Check
list 80%
. Fin
Model 6
0%
com
ple
te
Com
ple
te th
e co
mm
unity
outre
ach
, entitle
ments, a
nd fin
ancin
g p
lannin
g fo
r Palo
Park
units b
elo
w 5
0%
AM
I by th
e e
nd o
f 2015
● ●
●
Com
munity
outre
ach
and p
roje
ct pla
nnin
g in
pro
gre
ss. Conce
pt p
lan a
nd a
nnexatio
n a
pps in
to
City
for re
vie
w.
Com
ple
te th
e co
mm
unity
outre
ach
, entitle
ments, a
nd fin
ancin
g p
lannin
g fo
r Palo
Park
units a
bo
ve 5
0%
AM
I by th
e e
nd o
f 2015
● ●
●
Com
munity
outre
ach
and p
roje
ct pla
nnin
g in
pro
gre
ss. Conce
pt p
lan a
nd a
nnexatio
n a
pps in
to
City
for re
vie
w.
Work
with
County
and o
ther h
ousin
g e
ntitie
s to a
dopt a
coopera
tive d
evelo
pm
ent p
lan b
y e
nd Q
3
● ●
●
Regio
nal co
opera
tion a
ctivitie
s now
focu
sed o
n
hom
ele
ssness a
nd flo
od. B
HP's p
roposa
l to e
xpand
mark
et a
rea h
as a
very
mix
ed re
actio
n. W
e a
re
work
ing in
stead o
n co
opera
tive d
evelo
pm
ent
1.4
BH
P w
ill ex
pa
nd
its m
ark
et a
rea
to in
clu
de
Bo
uld
er C
ou
nty
to a
cq
uire
or d
eve
lop
ma
rke
t-affo
rda
ble
, inco
me
-pro
du
cin
g a
sse
ts in
co
op
era
tion
with
ou
r sis
ter c
ou
nty
ho
usin
g a
uth
oritie
s.
1.2
BH
P w
ill co
ntin
ue
to a
cq
uire
an
d d
eve
lop
ho
usin
g a
nd
vo
uch
ers
with
a p
rima
ry fo
cu
s o
n h
ou
se
ho
lds w
ith in
co
me
s b
elo
w 5
0%
of
the
AM
I to m
ee
t the
inco
me
div
ers
ity g
oa
ls o
f the
city
.
1.3
BH
P w
ill als
o a
cq
uire
an
d d
eve
lop
lan
d a
nd
un
its a
bo
ve
50
% A
MI in
ord
er to
me
et th
e w
ork
forc
e h
ou
sin
g n
ee
ds o
f ou
r
co
mm
un
ity.
Page 2
26
Bo
uld
er H
ou
sin
g P
artn
ers
20
15
FIN
AL W
OR
K P
LA
N
In 2
01
5, w
e w
ill tak
e th
e fo
llow
ing
actio
ns to
su
pp
ort th
e g
oa
ls o
f BH
P's
Stra
teg
ic P
lan
Full in
terio
r and e
xte
rior re
novatio
n o
f Orch
ard
House
com
ple
ted b
y y
ear e
nd
● ●
x
Rece
ived city
fundin
g a
gre
em
ent - n
egotia
ting a
few
item
s. Postp
oned to
Q2-3
2016 to
acco
mm
odate
resid
ents' sch
ool sch
edule
. Pla
nnin
g
to b
egin
in Q
4/Q
1
Repla
ce a
nd Im
pro
ve C
anyon P
oin
te p
ark
ing lo
t and h
eat m
at in
Q2
● ●
√
Com
ple
ted o
n-tim
e.
Com
ple
te v
ario
us n
eeded re
novatio
ns a
nd re
pla
cem
ent w
ork
at A
rapahoe E
ast, F
ooth
ills, Holid
ay, A
rapahoe C
ourt, S
anita
s Pla
ce,
Brid
gew
alk
, and B
roadw
ay E
ast.
● ●
●
Pro
jects u
nderw
ay.
Com
ple
te co
mpre
hensiv
e C
apita
l Impro
vem
ent P
lan fo
r every
pro
perty
by Q
4 ●
●√
Com
ple
ted o
n-tim
e.
Update
the P
ortfo
lio P
lan a
nd se
ek B
oard
adoptio
n b
y e
nd o
f Q2
● ●
●
Com
ple
ted o
n-tim
e. P
ostp
oned B
oard
adoptio
n to
Q4 d
ue to
timin
g.
Com
ple
te tra
nsfe
rs of a
ll curre
nt p
roje
cts (Hig
h M
ar a
nd L
ee H
ill) from
develo
pm
ent to
opera
tions b
y th
e e
nd o
f the Q
2 2
015
● ●
√
Hig
h M
ar la
st paym
ent re
quest in
May. L
ee H
ill
8609s b
y w
eek o
f 5/4
and la
st paym
ent in
June.
Pla
n a
nd d
raft im
ple
menta
tion to
ols, stra
tegie
s and in
tern
al p
roce
ss changes to
maxim
ize e
fficiency
for th
e a
cquisitio
n p
rogra
m b
y Q
1
2015
● ●
Lack
of sta
ffing cre
atin
g d
ela
ys o
n th
is item
.
Check
list 80%
. Fin
Model 6
0%
com
ple
te
Com
ple
te th
e co
mm
unity
outre
ach
, entitle
ments, a
nd fin
ancin
g p
lannin
g fo
r Palo
Park
units b
elo
w 5
0%
AM
I by th
e e
nd o
f 2015
● ●
●
Com
munity
outre
ach
and p
roje
ct pla
nnin
g in
pro
gre
ss. Conce
pt p
lan a
nd a
nnexatio
n a
pps in
to
City
for re
vie
w.
Com
ple
te th
e co
mm
unity
outre
ach
, entitle
ments, a
nd fin
ancin
g p
lannin
g fo
r Palo
Park
units a
bo
ve 5
0%
AM
I by th
e e
nd o
f 2015
● ●
●
Com
munity
outre
ach
and p
roje
ct pla
nnin
g in
pro
gre
ss. Conce
pt p
lan a
nd a
nnexatio
n a
pps in
to
City
for re
vie
w.
Work
with
County
and o
ther h
ousin
g e
ntitie
s to a
dopt a
coopera
tive d
evelo
pm
ent p
lan b
y e
nd Q
3
● ●
●
Regio
nal co
opera
tion a
ctivitie
s now
focu
sed o
n
hom
ele
ssness a
nd flo
od. B
HP's p
roposa
l to e
xpand
mark
et a
rea h
as a
very
mix
ed re
actio
n. W
e a
re
work
ing in
stead o
n co
opera
tive d
evelo
pm
ent
1.4
BH
P w
ill ex
pa
nd
its m
ark
et a
rea
to in
clu
de
Bo
uld
er C
ou
nty
to a
cq
uire
or d
eve
lop
ma
rke
t-affo
rda
ble
, inco
me
-pro
du
cin
g a
sse
ts in
co
op
era
tion
with
ou
r sis
ter c
ou
nty
ho
usin
g a
uth
oritie
s.
1.2
BH
P w
ill co
ntin
ue
to a
cq
uire
an
d d
eve
lop
ho
usin
g a
nd
vo
uch
ers
with
a p
rima
ry fo
cu
s o
n h
ou
se
ho
lds w
ith in
co
me
s b
elo
w 5
0%
of
the
AM
I to m
ee
t the
inco
me
div
ers
ity g
oa
ls o
f the
city
.
1.3
BH
P w
ill als
o a
cq
uire
an
d d
eve
lop
lan
d a
nd
un
its a
bo
ve
50
% A
MI in
ord
er to
me
et th
e w
ork
forc
e h
ou
sin
g n
ee
ds o
f ou
r
co
mm
un
ity.
Page 2
26
Bo
uld
er H
ou
sin
g P
artn
ers
20
15
FIN
AL W
OR
K P
LA
N
In 2
01
5, w
e w
ill tak
e th
e fo
llow
ing
actio
ns to
su
pp
ort th
e g
oa
ls o
f BH
P's
Stra
teg
ic P
lan
Revie
w N
OFAs fo
r new
vouch
ers a
nd a
pply
if a g
ood fit fo
r BH
P√
√√
No n
ew
NO
FAs w
ere
rele
ase
d in
Q1, Q
2, o
r Q3 o
f
2015.
Issue th
e T
enant P
rote
ction V
ouch
ers re
ceiv
ed fo
r disp
ositio
n o
f Kalm
ia a
nd W
aln
ut P
lace
by Q
4 ●
● ●
As o
f 9/3
0/1
5, 3
3 v
ouch
ers h
ave b
een issu
ed, 1
8
have le
ase
d u
p
Shift w
ait list m
anagem
ent fro
m th
e S
ectio
n 8
pro
gra
m to
ow
ners a
nd se
rvice
pro
vid
ers fo
r Pro
ject B
ase
d V
ouch
ers site
by Q
1 ●
√√
Pro
cess h
as b
een cre
ate
d a
nd is b
ein
g im
ple
mente
d
A g
oal o
f acq
uirin
g o
f 75 u
nits o
r as o
pportu
nity
arise
s by y
ear e
nd
● ●
●Subm
itted se
vera
l LO
Is in Q
1. R
evie
wed 1
5
pro
pertie
s and clo
sed o
n o
ne: O
rchard
Gro
ve
Evalu
ate
opportu
nitie
s, esta
blish
prio
rity list a
nd co
nta
ct pro
perty
ow
ners o
f land b
ankin
g o
pportu
nitie
s in a
nd n
ear th
e C
ity th
roughout
the y
ear
● ●
√Purch
ase
d 5
acre
s east o
f 30th
& V
alm
ont.
Sevente
en m
eetin
gs w
ith v
ario
us le
nders a
nd
Work
with
the B
VSD
to a
cquire
the T
win
Lakes p
arce
l by e
nd o
f Q2
xx
xPro
ject o
n h
old
; BVSD
decid
ed to
keep its a
sset.
GO
AL T
WO
: Pa
rtne
rsh
ips a
nd
Co
mm
un
ity E
ng
ag
em
en
t
Engage a
s a le
ader in
housin
g p
olicy
discu
ssions a
nd p
ursu
e a
wid
e ra
nge o
f partn
ersh
ips a
nd p
olicy
changes n
eeded to
incre
ase
housin
g ch
oice
and d
iversity
in B
ould
er, re
duce
land co
st per u
nit, a
nd p
rese
rve th
e city
’s curre
nt a
fford
able
units.
OU
TCO
MES:
SU
CCESSFU
L P
RO
GRESS T
OW
ARD
S T
HE B
VCP V
ISIO
N F
OR T
HE C
OM
MU
NIT
Y A
ND
SU
CCESSFU
L IM
PLEM
EN
TATIO
N O
F T
HE
STRATEG
IC P
LAN
GO
ALS.
Activ
ely
particip
ate
in C
ity in
itiativ
es in
cludin
g th
e N
orth
Bould
er S
ubco
mm
unity
Pla
n u
pdate
, the C
om
pre
hensiv
e H
ousin
g S
trate
gy, th
e
BVCP u
pdate
, Envisio
n E
Ara
pahoe
● ●
●
Ongoin
g p
articp
atio
n w
ith H
ousin
g B
ould
er,
Pondero
sa/4
Mile
annexatio
n stu
dy g
roup.
Monito
ring th
e B
V C
om
p P
lan p
roce
ss.
1.5
BH
P w
ill cre
ate
ho
usin
g s
up
ply
by s
ecu
ring
the
ma
xim
um
po
ssib
le n
um
be
r of n
ew
ho
usin
g c
ho
ice
vo
uch
ers
.
1.6
BH
P w
ill cre
ate
ho
usin
g s
up
ply
by c
rea
tive
ly a
pp
lyin
g its
po
licy d
iscre
tion
asso
cia
ted
with
the
Mo
vin
g to
Wo
rk d
em
on
stra
tion
.
1.7
BH
P w
ill acq
uire
ma
rke
t rate
ren
tal u
nits
as a
n in
ten
tion
al s
trate
gy to
cre
ate
a lo
ng
-term
pre
se
rva
tion
me
ch
an
ism
for e
xis
ting
affo
rda
ble
un
its (u
nit b
an
kin
g).
1.8
BH
P w
ill acq
uire
as m
uch
lan
d a
s p
ossib
le to
pre
se
rve
futu
re a
fford
ab
ility o
ptio
ns.
1.9
BH
P w
ill eva
lua
te th
e fe
asib
ility o
f acq
uirin
g m
od
era
tely
pric
ed
sin
gle
fam
ily h
om
es a
s a
pre
se
rva
tion
stra
teg
y
2.1
BH
P w
ill activ
ely
pa
rticip
ate
in u
pd
ate
s to
the
BV
CP
an
d a
ll effo
rts to
cre
ate
ho
usin
g p
olic
y a
nd
pla
ns fo
r the
city
.
Page 3
27
Bo
uld
er H
ou
sin
g P
artn
ers
20
15
FIN
AL W
OR
K P
LA
N
In 2
01
5, w
e w
ill tak
e th
e fo
llow
ing
actio
ns to
su
pp
ort th
e g
oa
ls o
f BH
P's
Stra
teg
ic P
lan
Com
mit B
oard
and sta
ff reso
urce
s to a
ctively
particip
ate
in th
e C
om
pre
hensiv
e H
ousin
g S
trate
gy p
roce
ss ●
● ●
This h
as b
een a
challe
nge g
iven its stru
cture
.
Betse
y h
as b
een in
vite
d to
the C
ity M
anager's sta
ff
gro
up (v
ery
infre
quent m
eetin
gs, h
ow
ever).
Monito
r and co
mm
ent o
n p
ropose
d re
gula
tory
changes th
at m
ake th
e d
evelo
pm
ent o
f new
housin
g ch
oice
s more
difficu
lt ●
● ●
Council to
ok a
ction to
esta
blish
a lin
kage fe
e fo
r
com
mercia
l develo
pm
ent a
nd in
crease
heig
ht
allo
wance
s for p
roje
cts with
40%
or m
ore
. Both
gre
at fo
r BH
P.
Sta
ff 12 m
onth
ly m
eetin
g o
f the O
utre
ach
Com
mitte
e; o
rganize
at le
ast 6
public p
rese
nta
tions; la
unch
the H
ousin
g A
ction N
etw
ork
to
pro
vid
e a
bro
ad h
ousin
g co
alitio
n p
latfo
rm ●
● ●
Outre
ach
Com
mitte
e u
nderw
ay; B
HP m
uch
in
dem
and a
s a p
rese
nte
r on h
ousin
g p
olicy
and
strate
gy; p
rovid
ed k
ey co
mm
ents a
t 4 m
ajo
r
com
munity
events; 1
0 a
dditio
nal p
rese
nta
tions;
educa
tion ca
mpaig
n w
as ro
bust fo
r a sh
ort p
erio
d
and h
as q
uie
ted.
BH
P is a
key p
layer in
county
-wid
e d
iscussio
ns.
These
move v
ery
slow
ly. C
entra
l focu
s of w
ork
is
with
BCH
A.
Develo
p stra
tegy w
ith p
ublic re
latio
ns co
nsu
ltant to
defin
e a
nd e
xpand o
ur o
utre
ach
to th
e co
mm
unity
, resid
ents a
nd n
eig
hbors b
y th
e
end o
f Q1.
● ●
●
"Louder" m
eetin
gs h
eld
with
all d
epartm
ents to
dete
rmin
e n
eeds fo
r the y
ear. R
esu
lted in
defin
ition
of a
"launch
" date
for P
roje
ct Renovate
and cle
ar
understa
ndin
g o
f the n
eeds o
f the v
ario
us
Activ
ely
particip
ate
in C
ity in
itiativ
es in
cludin
g th
e N
orth
Bould
er S
ubco
mm
unity
Pla
n u
pdate
, the C
om
pre
hensiv
e H
ousin
g S
trate
gy, th
e
BVCP u
pdate
, Envisio
n E
Ara
pahoe
● ●
●se
e a
bove
2.2
BH
P w
ill se
ek
po
licy c
ha
ng
es w
ith th
e c
ity o
f Bo
uld
er to
en
su
re th
e c
om
mu
nity
’s c
om
mitm
en
t to its
affo
rda
ble
ho
usin
g.
2.3
BH
P w
ill cre
ate
a ro
bu
st c
om
mu
nity
ed
uca
tion
ca
mp
aig
n a
bo
ut th
e ra
pid
loss o
f affo
rda
ble
an
d d
ive
rse
ho
usin
g in
Bo
uld
er a
nd
po
ten
tial s
olu
tion
s.
2.4
BH
P w
ill activ
ely
en
ga
ge
in a
reg
ion
al d
ialo
gu
e a
bo
ut a
fford
ab
le c
ho
ice
s a
nd
a m
ore
inte
gra
ted
an
d c
oo
rdin
ate
d d
eliv
ery
of
pro
du
cts
to o
ur c
itize
ns.
2.5
BH
P w
ill en
ga
ge
the
co
mm
un
ity a
t all le
ve
ls o
f ou
r wo
rk: in
the
pro
pe
rties w
e m
an
ag
e, th
e n
eig
hb
orh
oo
ds w
e a
re a
pa
rt of a
nd
the
city
wh
ose
vis
ion
we
imp
lem
en
t.
2.6
BH
P w
ill ad
vo
ca
te fo
r pre
se
rva
tion
stra
teg
ies th
at re
tain
ma
rke
t affo
rda
ble
ho
me
ow
ne
rsh
ip o
pp
ortu
nitie
s.
Page 4
28
Bo
uld
er H
ou
sin
g P
artn
ers
20
15
FIN
AL W
OR
K P
LA
N
In 2
01
5, w
e w
ill tak
e th
e fo
llow
ing
actio
ns to
su
pp
ort th
e g
oa
ls o
f BH
P's
Stra
teg
ic P
lan
GO
AL T
HR
EE
: Re
sid
en
t Ach
ieve
me
nt a
nd
Qu
ality
of L
ife
Invest in
focu
sed se
rvice
and e
duca
tional p
rogra
mm
ing to
impro
ve th
e e
conom
ic futu
res o
f child
ren in
BH
P h
ouse
hold
s. Develo
p
succe
ssful p
artn
ersh
ips to
pro
vid
e se
rvice
coord
inatio
n to
work
-able
d a
dults, se
nio
rs, and p
eople
livin
g w
ith d
isabilitie
s in o
rder to
impro
ve o
r pre
serv
e in
dependence
and q
uality
of life
.
OU
TC
OM
ES
:
Youth
are
succe
ssful in
school a
nd h
ave th
e sk
ills nece
ssary
for se
lf-sufficie
ncy
as a
n a
dult
Work
-able
d fa
milie
s will in
crease
their in
dependence
and q
uality
of life
.
Senio
rs and p
eople
with
disa
bilitie
s will p
rese
rve th
eir in
dependence
and q
uality
of life
to th
e m
axim
um
exte
nt p
ossib
le.
Dre
am
Big
busin
ess p
lan d
evelo
ped b
y e
nd o
f Q4
● ●
●
Pre
senta
tion m
ate
rials h
ave b
een d
evelo
ped.
Susta
inability
work
gro
up is e
stablish
ed a
nd w
ill
work
on p
lan. S
usta
inability
pla
n is W
IP.
Agre
em
ents w
ill be e
xecu
ted fo
r the m
ajo
r Dre
am
Big
partn
ers b
y Q
4 ●
● ●
Work
ing o
n a
gre
em
ent w
ith IH
AD
. Work
gro
ups a
re
bein
g d
evelo
ped w
hich
will d
evelo
p w
ork
ing
agre
em
ents.
The n
ew
"Oak C
lass" w
ill begin
Q1
√√
√Cla
ss began in
March
. 40 B
HP re
sidents a
re
Dre
am
ers.
A re
sident o
utco
me d
ata
base
in Y
ARD
I is opera
tional b
y Q
4 ●
● ●
Pla
nnin
g h
as b
egun. D
ate
may n
eed to
be p
ush
ed
out.
Identify
at le
ast o
ne n
ew
health
serv
ices p
rovid
er to
deliv
er se
rvice
s on site
for se
nio
rs and p
eople
with
disa
bilitie
s by e
nd o
f Q2
√√
√
St. B
enedict's H
ealth
and H
ealin
g M
inistry
is
pro
vid
ing se
rvice
s at C
P. L
ookin
g to
have D
enta
l Aid
to p
rovid
e se
rvice
s on site
. MH
P p
rovid
ed se
rvice
s
on site
GO
AL F
OU
R: M
ax
imiz
ing
Su
sta
ina
bility
Pursu
e co
nsiste
nt a
nd in
novativ
e im
pro
vem
ent o
f portfo
lio a
nd p
ractice
s regard
ing e
nviro
nm
enta
l impacts to
the m
axim
um
exte
nt th
at
is eco
nom
ically
feasib
le w
hile
not re
ducin
g th
e n
um
ber o
f units th
at ca
n b
e p
roduce
d.
OU
TC
OM
ES
:
Impro
ved b
uild
ing p
erfo
rmance
and lo
ng te
rm v
iability
of o
ur p
ortfo
lio a
nd re
duce
energ
y co
st for o
ur cu
stom
ers.
Incre
ase
d a
ccess fo
r BH
P re
sidents to
bus p
asse
s and o
ther a
fford
able
public tra
nsp
orta
tion a
nd a
ltern
ativ
e tra
nsp
orta
tion p
rogra
ms lik
e
bik
e sh
arin
g, ca
r sharin
g.
3.1
BH
P w
ill pa
rtne
r with
resid
en
t fam
ilies a
nd
org
an
iza
tion
s to
pro
vid
e c
om
pre
he
nsiv
e e
du
ca
tion
al a
nd
su
pp
ort p
rog
ram
s a
s a
me
an
s o
f min
imiz
ing
ba
rriers
to le
arn
ing
an
d p
rep
arin
g B
HP
yo
uth
for s
ucce
ss.
3.2
BH
P w
ill pa
rtne
r with
the
co
mm
un
ity a
nd
se
rvic
e o
rga
niz
atio
ns to
pre
se
rve
or e
nh
an
ce
the
qu
ality
of life
for w
ork
-ab
led
ad
ults
,
se
nio
rs, a
nd
pe
op
le w
ith d
isa
bilitie
s in
the
follo
win
g p
riority
are
as: H
ou
sin
g S
tab
ility; E
co
no
mic
sta
bility
; Ed
uca
tion
; He
alth
an
d
We
llne
ss; a
nd
Co
mm
un
ity life
.
Page 5
29
Bo
uld
er H
ou
sin
g P
artn
ers
20
15
FIN
AL W
OR
K P
LA
N
In 2
01
5, w
e w
ill tak
e th
e fo
llow
ing
actio
ns to
su
pp
ort th
e g
oa
ls o
f BH
P's
Stra
teg
ic P
lan
Com
ple
te S
mart R
eg w
ork
and ce
rtificatio
n fo
r the e
ntire
portfo
lio b
y e
nd o
f Q1
●√
√Com
ple
ted a
nd v
erifie
d in
May o
f 2015
Tra
ck re
source
savin
gs d
ata
and co
mm
unica
te re
sults to
resid
ents in
a n
ew
slette
r on a
quarte
rly b
asis.
● ●
In p
rogre
ss in th
e a
rea o
f waste
div
ersio
n a
nd
wate
r conse
rvatio
n.
Esta
blish
base
line d
ata
for B
ould
er E
nerg
y C
halle
nge P
ilot (B
ECP)w
ith h
ard
ware
insta
llatio
n a
t test site
s by e
nd o
f Q1
● ●
●
Hard
ware
insta
lled Q
3 a
nd w
e a
re sta
rting to
analy
ze in
tern
al d
ata
.
Coord
inate
resid
ent e
nerg
y sa
vin
gs su
rvey a
nd tra
inin
g a
nd co
ntin
ue d
ata
colle
ction fo
r BECP b
y e
nd o
f Q2
● ●
Intia
l data
colle
ction sta
rted. R
esid
ent e
ngagem
ent
pro
gra
m m
ay b
e p
ush
ed b
ack
to la
te fa
ll 20015 in
to
win
ter o
f 2016.
Coord
inate
resid
ent e
ngagem
ent ca
mpaig
n a
s part o
f BECP b
egin
nin
g o
f Q3
Pro
ject D
ela
yed b
y o
ne Q
tr.
Com
ple
te re
sident e
ngagem
ent ca
mpaig
n, d
ata
analy
sis and sa
vin
gs v
erifica
tion re
port fo
r BECP p
ilot b
y e
nd o
f Q4
Pro
ject D
ela
yed b
y o
ne Q
tr. Lik
ely
com
ple
t in Q
1
2016
Renew
Eco
Passe
s at site
s curre
ntly
enro
lled in
eco
pass p
rogra
m a
nd a
dd V
istoso
resid
ents to
the p
rogra
m b
y e
nd o
f Q1
√√
√
Incre
ase
resid
ent e
nro
llment in
eG
o C
arS
hare
and B
ould
er B
-Cycle
mem
bersh
ips b
y 1
0%
by th
e e
nd o
f Q2
● ●
●
Fundin
g fo
r mem
bersh
ips re
duce
d b
y G
rant F
under
for B
cycle
and o
n h
old
for n
ow
.
4.1
Mo
nito
r, ve
rify a
nd
qu
an
tify a
ll ex
istin
g e
ne
rgy im
pro
ve
me
nts
4.2
Imp
lem
en
t an
ag
en
cy w
ide
Ne
ar-Z
ero
Wa
ste
pro
gra
m, c
on
sis
ten
t with
the
City
an
d C
ou
nty
recyclin
g a
nd
wa
ste
red
uctio
n
initia
tive
s.
4.3
Incre
ase
co
nse
rva
tion
initia
tive
s a
nd
ince
ntiv
es in
the
are
a o
f resid
en
t be
ha
vio
r.
4.4
De
ve
lop
a v
eh
icle
red
uctio
n p
rog
ram
by w
ork
ing
with
pro
vid
ers
of a
ltern
ate
tran
sp
orta
tion
mo
de
s.
4.5
De
sig
n, b
uild
an
d re
no
va
te b
uild
ing
s to
be
en
erg
y e
fficie
nt w
ith a
go
al o
f ne
ar n
et z
ero
en
erg
y c
on
su
mp
tion
Page 6
30
Bo
uld
er H
ou
sin
g P
artn
ers
20
15
FIN
AL W
OR
K P
LA
N
In 2
01
5, w
e w
ill tak
e th
e fo
llow
ing
actio
ns to
su
pp
ort th
e g
oa
ls o
f BH
P's
Stra
teg
ic P
lan
Go
al 5
: Org
an
iza
tion
al S
tew
ard
sh
ip
Contin
uously
impro
ve B
HP’s o
rganiza
tional su
stability
, structu
re, a
nd stra
tegic o
utre
ach
by ste
ward
ing a
strong fin
ancia
l core
, efficie
nt
inte
rnal o
pera
tions a
nd a
ctive co
mm
unity
outre
ach
.
OU
TC
OM
ES
:
BH
P w
ill div
ersify
its mark
et re
ach
and re
venue so
urce
s, hire
and re
tain
qualifie
d sta
ff.
BH
P w
ill be a
n o
rganiza
tion th
at o
pera
tes cre
ativ
ely
, decisiv
ely
, inte
ntio
nally
, and e
ffectiv
ely
, with
strong a
nd co
nsiste
nt v
alu
es a
nd a
n
understa
ndin
g th
at h
ousin
g is a
s much
about p
eople
as it is a
bout p
lace
.
Explo
re a
ddin
g a
dditio
nal u
nencu
mbere
d co
llate
ral (G
len W
illow
) to m
axim
ize a
vaila
ble
Lin
e o
f Cre
dit to
positio
n o
rganiza
tion to
be a
ble
to re
spond q
uick
ly to
acq
uisitio
n o
pportu
nitie
s.√
√√
The H
R o
n-b
oard
ing sy
stem
will b
e a
uto
mate
d a
nd tie
d to
the n
ew
payro
ll syste
m in
Q1
√√
√O
n b
oard
ing p
aperw
ork
is now
deliv
ere
d to
new
staff v
ia P
aylo
city.
An a
pplica
nt tra
ckin
g sy
stem
is opera
tional b
y th
e e
nd o
f Q2
●√
√Analy
sis and p
rocu
rem
ent d
one. H
ire M
ojo
is our
new
applica
nt tra
ckin
g sy
stem
.
The p
erfo
rmance
revie
w p
roce
ss is revise
d, a
dopte
d a
nd co
mm
unica
ted to
superv
isors a
nd sta
ff in Q
1
●√
√N
ew
pro
cess is in
pla
ce. Q
2 D
efin
ing P
erfo
rmance
Inititiv
e w
ith L
ead T
eam
pla
nned
The e
mplo
yee e
ngagem
ent su
rvey is re
vise
d, co
mple
ted a
nd a
naly
sis com
munica
ted to
all sta
ff in Q
2 ●
●√
Contra
cted w
ith M
odern
Thin
k to
conduct
engagem
ent su
rvey in
Q2. S
urv
ey is co
mple
te.
Resu
lts were
very
good a
nd h
elp
ful in
thin
kin
g th
ru
our re
org
aniza
tion a
nd sta
ffing in
ititives fo
r 2016
An a
ll em
plo
yee su
rvey p
rovid
es fe
edback
for a
n a
nnual tra
inin
g p
lan w
hich
is in p
lace
by e
nd o
f January
√√
√Perfo
rmance
docu
menta
tion a
nd m
ultitu
de o
f
train
ings p
reparin
g fo
r Pro
ject R
enovate
com
ple
ted.
Pro
cure
and p
urch
ase
Data
Managem
ent sy
stem
and id
entify
work
flow
pro
cess im
pro
vem
ent n
eeded w
ith m
ajo
r stakehold
ers (P
M,
Sectio
n 8
, Fin
ance
)by e
nd o
f Q3 in
pre
para
tion fo
r full im
ple
menta
tion in
2016
x
Afte
r discu
ssions w
ith D
irecto
rs, pre
para
tion w
ill not
begin
until Q
4 b
eca
use
of w
ork
load co
nce
rns w
ith
Pro
ject R
enovate
5.1
BH
P w
ill su
sta
in its
ba
lan
ce
sh
ee
t an
d p
ortfo
lio b
y lo
ok
ing
for o
pp
ortu
nitie
s in
Bo
uld
er a
nd
Bo
uld
er C
ou
nty
to a
cq
uire
or d
eve
lop
inco
me
-pro
du
cin
g a
sse
ts
5.2
BH
P w
ill red
uce
de
pe
nd
en
ce
on
HU
D o
pe
ratin
g s
ub
sid
ies b
y u
sin
g th
e a
bo
ve
me
ntio
ne
d in
co
me
-pro
du
cin
g a
sse
t stra
teg
y to
div
ers
ify fu
nd
ing
so
urc
es.
5.3
BH
P w
ill de
ve
lop
pa
rtne
rsh
ips w
ith k
ey s
tak
eh
old
ers
in th
e c
om
mu
nity
wh
o u
nd
ers
tan
d th
at a
co
mm
un
ity’s
resilie
nce
de
rive
s
from
its d
ive
rse
ho
usin
g c
ho
ice
s.
5.4
BH
P w
ill attra
ct, tra
in a
nd
reta
in a
tale
nte
d, d
ed
ica
ted
an
d c
ultu
rally
co
mp
ete
nt s
taff.
Page 7
31
Bo
uld
er H
ou
sin
g P
artn
ers
20
15
FIN
AL W
OR
K P
LA
N
In 2
01
5, w
e w
ill tak
e th
e fo
llow
ing
actio
ns to
su
pp
ort th
e g
oa
ls o
f BH
P's
Stra
teg
ic P
lan
Pro
cure
ment, p
urch
asin
g a
nd in
stalla
tion o
f new
serv
er is in
pla
ce b
y e
nd o
f Q1
√√
√
Payro
ll syste
m in
tegra
ted in
to B
HP p
roce
sses w
ith d
ata
connectio
n to
Yard
i by e
nd o
f Q1
√√
√
Page 8
32
Bo
uld
er H
ou
sin
g P
artn
ers
20
15
FIN
AL W
OR
K P
LA
N
In 2
01
5, w
e w
ill tak
e th
e fo
llow
ing
actio
ns to
su
pp
ort th
e g
oa
ls o
f BH
P's
Stra
teg
ic P
lan
Five year Office P
lan is in
place b
y end
of Q
3√
√
Imple
ment a
pla
n fo
r a se
lect n
um
ber o
f Pro
perty
Managers to
move fro
m th
e ce
ntra
l office
to o
n-site
loca
tions d
urin
g Q
1 &
Q2
● ●
√Com
ple
ted.
Develo
p a
nd b
egin
to im
ple
ment a
form
al sch
edule
d tra
inin
g p
lan fo
r PM
Team
durin
g Q
1 &
Q2
● ●
xPostp
oned to
Q1-2
016 d
ue to
Pro
ject R
enovate
+
staffin
g ch
anges.
PM
Policie
s and p
roce
dure
s manual w
ill be re
vise
d a
nd u
pdate
d a
nd co
mple
ted b
y e
nd o
f Q3
● ●
xPostp
oned to
Q1-2
016 d
ue to
Pro
ject R
enovate
+
staffin
g ch
anges. A
nticip
ate
start in
Q4-2
015.
Identify
and co
mm
unica
te to
Betse
y, th
e ste
ps n
eeded to
inte
gra
te se
rvice
s betw
een P
roperty
Managem
ent, M
ain
tenance
, and R
esid
ent
Serv
ice te
am
s, begin
imple
menta
tion b
y e
nd o
f Q1
● ●
x
In-p
roce
ss with
weekly
meetin
gs a
nd a
dju
stment
post-p
ortfo
lio re
org
aniza
tion. Q
4-Q
1 w
ill be
pla
nnin
g p
hase
, imple
menta
tion in
Q2-2
016
Pro
vid
e cle
ar, co
nsiste
nt m
onth
ly fin
ancia
l data
to B
oard
, pre
sent a
udit fo
r appro
val a
t June m
tg a
nd B
udget fo
r revie
w a
t Novem
ber
mtg
and a
ppro
val a
t Dece
mber m
tg ●
● ●
Month
ly fin
ancia
l state
ments a
nd A
udit co
mple
te
YTD
5.6
BH
P w
ill su
pp
ort a
Bo
ard
of C
om
mis
sio
ne
rs th
at p
rovid
es le
ad
ers
hip
an
d s
tron
g g
ove
rna
nce
for th
e s
trate
gic
vis
ion
of th
e
org
an
iza
tion
.
5.5
BH
P w
ill tran
sitio
n its
pro
pe
rty o
pe
ratio
ns fro
m a
ce
ntra
lize
d m
an
ag
em
en
t syste
m to
a p
rop
erty
-ba
se
d m
an
ag
em
en
t pro
gra
m.
Page 9
33
f. Conflict of Interest Waiver Consideration
With the August 30 departure of our Director of Real Estate Development, four strong
candidates quickly emerged thanks to an active housing network. As you have been
advised, Angela McCormick is one of the four. Following a first round of interviews,
the pool is now down to two. As you know, Angela’s candidacy is accompanied by
conflict of interest provisions.
BHP has managed with a conflict of interest policy since 1966. Our policy, most
recently amended last year, is attached for reference. There are four regulatory
sources for the Board’s policy regarding employment for former Commissioners:
1. The Annual Contributions Contract (ACC) with the U.S. Department of Housing
and Urban Development,
2. Housing Authority Enabling legislation, found at CRS 29-4-207,
3. State statutes governing public officers, found at CRS 24-18-108.5, and
4. The Boulder Revised Code sections on conflict found at BRC 2-7.
Our own policy says the following:
(i) BHP shall not employ a former member within six months of the end
of his or her term on the Board.
(ii) And - “If there are conflicts among the regulations themselves, the
body associated with the most restrictive rule or guideline,
regardless of jurisdiction, will prevail.”
The most restrictive of the five regulations is the ACC which requires a former
member of the Board to wait one year before being employed by the housing
authority. That language is here:
34
The discussion at Monday’s meeting is about the Board’s willingness to ask HUD for a
waiver of its conflict of interest provisions. Implicit in this decision would be our
decision that if HUD says yes, we would follow their lead and waive our own conflict of
interest policy, if it is still in consideration.
The waiver provision is here, also in Section 19:
Below is a draft copy of the HUD waiver request. At press time we haven’t been able
to get a precise answer about how long the HUD process will take. We will try to
answer that by Monday. HUD will review the request at the Denver Field Office and
then determine whether it is a local or headquarters decision.
Attachments:
Draft copy of the HUD waiver request
Conflict of Interest Policy
35
DRAFT
MAILED AND FAXED TO: 303-672-5065
Ms. Janice Rodriquez
Director of Public Housing
U.S. Dept. of Housing & Urban Development
1670 Broadway, 25th Floor
Denver, Colorado 80202
RE: Request for Waiver of Conflict of Interest Provisions
Dear Ms. Rodriquez:
Pursuant to its Annual Contributions Contract (ACC) with HUD, section 19(A)(3),
Boulder Housing Partners (BHP) is seeking a waiver of the ACC conflict of interest
provisions in order to extend an offer of employment to a former board member,
Angela McCormick. BHP believes there is good cause to waive the conflict of interest
provisions in this case and sets forth the following fact:
1. Angela McCormick has applied for the job of director of Real Estate Development.
2. Ms. McCormick was appointed to the BHP Board of Commissioners in 2006.
Having completed her first, term she was re-appointed to a second term, which
would have expired in March 2016.
3. Ms. McCormick completed a total of 9.5 years on the Board. Her longevity is
mentioned here to underscore that she did not seek the initial or repeat
appointment for any personal gain.
4. Ms. McCormick disclosed the potential conflict of interest to the Board and
resigned from the Board on September 8, 2015, simultaneous with her application
for employment with BHP.
5. In November 2014, BHP had advertised this very same position. Following a
national search, a candidate was hired in February 2015. Unfortunately, the
person hired proved to be a poor fit for the job and the position became vacant
again in August 2015. Following yet another search, Ms. McCormick has emerged
as the stronger of the two final candidates by a long stretch.
6. BHP has also adopted a local conflict of interest policy that requires a six-month
waiting period before a former Board member could be considered for
36
employment by BHP. This policy is modeled in part on provisions for the Boulder
City Code. BHP is working with the City Attorney’s office to propose a waiver of
the BHP policy if HUD approves a waiver under the ACC.
7. The organization is in a precarious position with this key position vacant and a
$24M RAD construction project just underway. The Executive Director has also
been Acting Director of Real Estate Development for almost a year. BHP believes it
will be in an untenable situation if the choice is to go back out to search for a third
time with the projects that are pending.
8. The Director of Real Estate Development position is uniquely demanding. BHP is
a sophisticated developer, known for complicated one-of-a-kind projects. To wit:
a. The RAD closing mentioned above is a unique Section 18-RAD hybrid that is
unparalleled in the country, not to mention that it’s the first RAD closing of any
kind in the region.
b. Similarly, BHP is the only MTW agency in the region, and also the first in the
region to develop Class AA market housing to underwrite public housing.
c. Further, the development climate and economics are very difficult to
navigate and the successful candidate must have deep knowledge of Boulder,
affordable housing development and rental acquisition and new construction.
As it turns out, the combination of those three attributes has proven very
difficult to find.
9. Ms. McCormick is exceptionally qualified for the position. She has a BA in
Economics and a Masters in Urban Planning from MIT. She worked for Citicorp as
a commercial real estate lending officer; with Synergen as their corporate real
estate manager; she was a Land Advisor for US-AID; the Director of Design,
Development and Preservation for the City of Boulder; the VP of Community
Development for McStain; the VP of Land Planning and Product Development with
John Laing Homes and she is currently a broker in Boulder with Re-Max. Her
credentials and professional preparation for a job like this are exceptional.
Through her previous employment, she knows Boulder and the Boulder planning
and entitlement process. She has been a lender and understands real estate
finance. She has worked for a production home-builder and has managed risk at a
scale greater than that experienced at BHP.
10. Ms. McCormick has been dedicated to BHP’s mission for almost ten years as a
volunteer.
37
11. Ms. McCormick would take a substantial cut in pay to work for BHP. As a
successful broker, her current annual average salary significantly exceeds our
hiring salary range. She is not motivated by salary or benefits. She is pursuing this
job because it would allow her to apply all of her skills developed over a 30 year
career, and because she has grown passionate about BHP and our mission during
her tenure.
12. BHP believes that the public interest would not be harmed or compromised if HUD
were to grant the requested waiver. The disclosure of interest and the waiver will
be made part of the public records of BHP.
13. Please do not hesitate to call me with questions or to request further information
about Ms. McCormick or the proposed Director of Real Estate Development
position.
Sincerely,
Betsey Martens
Executive Director, BHP
Cc: Ms. Ellen Dole, HUD Regional Counsel (by email to: Ellen.P.Dole@hud.gov)
38
Page 1
BOULDER HOUSING PARTNERS
NOVEMBER 20131
BOARD OF COMMISSIONERS
CONFLICT OF INTEREST POLICY
The Board of Commissioners of the Housing Authority of the City of Boulder, doing
business as Boulder Housing Partners (hereinafter referred to as “BHP” and
Commissioners hereinafter referred to as “member” or “members”) is bound by conflict
of interest provisions found in the following documents:
1. The Annual Contributions Contract with the U.S. Department of Housing and
Urban Development,
2. Housing Authority Enabling legislation, found at CRS 29-4-207
3. State statutes governing public officers, found at CRS 24-18-108.5, and
4. The Boulder Revised Code sections on conflict found at BRC 2-7.
This policy shall be applied so as to avoid the appearance, or actual occurrence of, any
favoritism or special treatment toward any member, employee, applicant, resident, or
vendor, having business, or dealings of any kind, with Boulder Housing Partners (BHP).
No Commissioner shall use or cause or allow to be used his or her position to secure any
personal privilege for himself, herself, or others, or to influence, actions, of BHP for
private or personal reasons.
Section 1 - Common Understandings
It is understood that the obligation of a member of the Board of Commissioners is to:
1. Scrutinize his or her transactions and outside business interests and
relationships for potential conflicts or appearance of conflicts and to
immediately make disclosures of any potential conflicts of interests, to
the Board Chair and Executive Director in writing.
2. Promote the public interest through the advocacy for responsible
administration of housing and community development programs.
3. Perform his or her duties with the highest degree of integrity and
professional care in order to merit the respect of the beneficiaries of
programs, elected officials and the general public.
4. Avoid using the office to gain advantage for any applicant, resident,
vendor, self or any person having business, or dealings of any kind,
with BHP.
1 This policy was first adopted in August 2003. This is its first revision.
39
Page 2
5. Avoid using the office, or information secured while in office, to
engage in activity that creates competition, or a competitive
disadvantage, for BHP.
6. Avoid the appearance of a conflict of interest.
7. Maintain the highest standard of personal integrity and conduct in all
matters pertaining to the Board.
8. Exercise diligence, objectivity and honesty in professional activities.
9. Avoid any activity that is in conflict with his or her official duties and
not realize undue personal gain from the performance of official
duties.
10. Serve the public with dedication, concern, respect and responsiveness.
11. Strive for professional excellence in Board service.
12. Promote and encourage the highest level of ethics within the industry.
Section 2 - Specific Provisions:
No present member of the governing body of the BHP Board or any member of the
member’s immediate family shall acquire any interest, direct or indirect, in any project or
in any property included, or planned to be included, in any project, nor shall he or she
have any interest, direct or indirect, in any contract or proposed contract for materials or
services to be furnished or used in connection with any project.
If any member owns or controls an interest, direct or indirect, in any property included or
planned to be included in any project, he or she shall immediately disclose the same in
writing to the BHP Board Chair and Executive Director, and such disclosure shall be
entered upon the minutes of the Board. The interested member shall thereafter recuse
himself or herself from all decisions related to the potential conflict of interest, including:
a) refrain from voting upon or otherwise acting in an official capacity in such
transaction;
b) physically absent himself or herself from the room in which the matter is being
considered; and
c) not discuss the matter with any other member of the board or in any way attempt
to influence the decision of the Board. Failure to disclose such interest or to
comply with these provisions shall constitute misconduct in office and could
result in any of the remedies described in the Remedies section of this document.
(i) No Resident Commissioner shall be deemed to have a conflict of
interest simply because they live in publicly assisted housing.
(ii) Members who have a question about an interest should consult with
the Office of the City Attorney.
(iii) For purposes of this document, “immediate family member” means the
spouse, mother, father, brother, sister, or child of a member (whether
related as a full blood relative, or as a half or step relative) up to the
second degree of consanguinity.
(iv) BHP shall not employ a former member within six months of the end
of his or her term on the Board.
40
Page 3
(v) The otherwise accepted practice of disclosure and recusal does not
apply in the instances where HUD ACC provisions apply and does not
constitute a waiver of HUD’s conflict of interest guidelines.
2. No member shall disclose or use confidential information acquired in the course
of his or her official duties in order to further substantially his or her personal or
private interests.
3. No member shall accept a gift from any party that contracts with, or seeks to
contract with, BHP whose value is estimated at greater than $50.
4. Except for purposes of inquiry, a member shall deal solely and directly with the
Executive Director on all matters and no member, or collectively the Board, shall
either dictate the appointment, retention or removal or direct or interfere with the
work of any employee under the Executive Director
5. BHP will use a criteria-based matrix to make, and document, every procurement
decision2 made.
Section 3 - Process for managing conflict of interest situations
1. All members will sign an annual Board Commitment letter at which time
all conflicts, real or apparent, are disclosed to the Board Chair and the
Executive Director.
2. If a conflict, real or apparent, arises in the interim, the member will submit
the details of the conflict in writing to the Board Chair and the Executive
Director.
3. A complaint alleging a violation of this policy may be initiated by any
member of the Board. The complaint is submitted to the Board Chair,
unless the complaint is about the Board Chair in which case the complaint
is submitted to the Office of the City Attorney.
4. The Board Chair, or the City Attorney, will initiate an investigation of the
complaint and will assure that written findings of fact in response to the
complaint are shared with the Board in a timely fashion. The findings may
conclude that the complaint has no merit, is frivolous or is brought for the
purpose of harassment.
5. No action will be taken on complaints filed later than twelve months after
discovery of the facts supporting an allegation.
2 BHP follows HUD and state procurement guidelines which require documentation of procurement
decisions above a $2,500 threshold.
41
Page 4
Section 4 - Remedies
If a Commissioner violates any of the above common understandings or special
provisions, the Board shall act in the manner that it deems appropriate, depending on the
results of the investigation. The recommended remedies from the Board might include
no action, admonishment, censure or a request that the Mayor remove the Board member
from the Board, according to the provisions found at CRS 29-4-208.
If there are conflicts between this document and other policies of BHP, this document
will prevail.
If there are conflicts among the regulations themselves, the body associated with the most
restrictive rule or guideline, regardless of jurisdiction, will prevail.
Adopted this __12th___ day of ___November____, 2013.
Angela McCormick, Chairperson
42
2. Action/Discussion Agenda: Management and Finance
a. Finance Committee Report
b. August 2015 - Financial Summary
43
August 2015 - Financial Summary
Project Renovate Closing and 2016 Budget
We are pleased to report that Project Renovate closed as planned on September 30, 2015. Thank
you for your support of the project. We will be incorporating the impact of the transaction on
BHP operational budget for 2016. Given the amount of focus on this closing during what would
typically be our budget preparation period, we expect our draft budget presented for first reading
at the November meetings of the Finance Committee and Board to be more “draft” than we
typically present. We will continue to scrutinize numbers between the first reading and the final
presentation at the December meetings. Thanks in advance for your understanding of this
unusual workload.
2016 FTE Budget Assumption
We will be spending some time during the October Finance Committee meeting discussing the
BHP compensation and salary structure analysis with Sue Boline, our compensation consultant.
Recognizing that any final decision on FTE must be made in the context of a full operational
budget, we would like to present our current thinking and get feedback regarding proposed 2016
FTE additions. We are proposing 3 new positions for 2016. All three will be funded from
known sources.
New Positions (FTE) Funding Source
1 Maintenance Housekeeper Cleaning contract savings
2 HCV Program - Administrative Assistant Administrative Fees - New Vouchers
3 Property Management - Operations Specialists Salary reallocation
1. Housekeeper - Maintenance This position will replace the use of a third-party cleaning company from Denver that has had
inconsistent staffing and service quality over the past year. By bringing this position in-house,
we will be able to focus on quality and consistency of cleanliness at our sites. This position’s
salary costs will be directly off-set by a savings in Contract Cleaning expense.
2. Administrative Assistant – Housing Choice Voucher Program.
With the addition of 283 vouchers to the Housing Choice team over the last two years we are
proposing to add an Administrative Assistant position to manage our lottery wait list and perform
initial qualification paperwork allowing the Occupancy Specialists to focus more on people than
paperwork.. We currently have 1145 vouchers and four Occupancy Specialists. The current
workload requires a substantial amount of time to be spent by the program manager and the
MTW manager working case files and performing administrative tasks which keep them from
their management responsibilities and designing and implementing new MTW initiatives. This
position will be funded by the additional HCV Administrative fees associated with the new
vouchers received in 2015.
44
3. Operations Specialist – Property Management
Property Management Team has been in the process of perfecting its organizational structure
during 2015. They now think they have it right. The key changes are to –
1. Create three regional teams (up from two regions)
2. Eliminate a redundant and expensive manager position (Director of Property
Management (DPM)
3. Replace that position with a Compliance Officer and a proposed new Operations
Specialist.
These two positions are almost fully funded by the elimination of the DPM but they do create an
additional FTE in the budget. The proposed structure allows for more management focus at the
property level. The Compliance Officer, replacing the Director of Property Management FTE,
will provide an internal audit function and develop procedures and controls to keep us in
compliance with the numerous technical program requirements that come with our diverse
funding sources.
We currently have two Operation Specialists (OS) and are proposing to add one additional OS so
that each team has administrative support. The proposed structure would allow each team to
consist of a Regional Manager, two to three Property Managers, and an OS that is shared by the
team. The OS is an entry level position within Property Management. The primary duties of the
OS are to lease apartments, assist with recertification paperwork/renewal, and other
administrative tasks.
August 2015 Financial Statements
Project Renovate not in Revised Budget numbers
The BHP budget assumed a financial closing on the Project Renovate sale of public housing sites
to the new tax credit entity on June 30, 2015. You will see several line items that will have
actual to budget variances each month through the transaction closing on September 30, 2015.
Year to Date Results - August 31, 2015
Actual Revised Budget Variance
Revenue 15,217,851$ 14,634,548$ 583,303$
Expenses (15,324,430) (15,689,604) 365,174
Total Net Income (Loss) (106,579)$ (1,055,056)$ 948,477$
The major variances from budget are explained on the attached financial statements.
45
Occupancy statistics BHP Portfolio
August-15
Net Rental
Income - YTD
Net Rental
Income -
Budget
Revised
Budget
Variance
Variance
%
Physical
Occ YTD
Physical
Occ
Budget
Occupancy
Variance to
Budget
Public
Housing *$1,470,645 $1,099,051 $371,595 33.81% 88.60% 76.44% 12.16%
PB Sec. 8
properties$808,207 $802,016 $6,191 0.77% 97.77% 97.00% 0.77%
Work Force $3,323,170 $3,220,905 $102,264 3.18% 97.99% 96.00% 1.99%
BHP portfolio
combined$5,602,022 $5,121,972 $480,050 9.37% 94.02% 88.96% 5.06%
Aug. Actual Occupancy for Project Renovate units = 80%
Public Housing budget assumed a tax credit closing on June 30 so no revenue or expense is included
for July forward.
Note: Physical Occupancy is measured as of 1st of the month. Units may be occupied after the 1st of the month
resulting in rental income greater than physical occupancy would suggest. Rents on occupied units may also be
greater or less than budgeted resulting in additional variances.
*Public Housing vacancy is planned to increase throughout year as vacant units are held for renovation.
Financial Measures
The following three measures are indicators of financial stability. Goals are based on HUD
standards for PHAs. All three meet or exceed our target.
Financial Measure Explanation Goal August-15
BHP Debt to Equity Ratio Measures ratio of Actual Debt and Interest to
Equity
Less than
1.51.1
BHP Quick Ratio - Unrestricted
cash/current liabilities
Measure of how many times we can pay current
liabilities with Cash on Hand or "liquidity"
Greater
than 2.03.4
Months Expendable Net Assets Ratio
(MENAR) Measures adequacy of reserves
Greater
than 4.06.1
Tax Credit Entities (Component Units) Financial Summary
The following is a Summary Income Statement for our tax credit entities which are component
units of BHP. BHP is subject to Government Accounting Standards Board (GASB) Statement
61 which requires component units to be reported on the audit statement. These are entities that
are related to BHP but do not meet the criteria for consolidation. Component units are reported
in the audit combined together but not combined with the statements of BHP. The current
component units are Broadway East, Broadway West, Holiday, High Mar, Lee Hill, Red Oak
Park, Vistoso and Westview.
46
Tax Credit Entities (Component Units) Summary Statement of Activities
Year to Date Results - August 31, 2015
Actual Budget Variance
Operations Revenue 2,269,194$ 2,232,963$ 36,231$
Other Revenue 62,632 59,177 3,455
Total Revenue 2,331,826$ 2,292,140$ 39,687$
Salaries and Benefits 183,479$ 173,104$ (10,375)$
Property Costs 850,725 931,600 80,875
Operating Expenses 995,500 1,002,247 6,747
Depreciation and Amortization 1,588,684 1,607,305 18,621
Total Expenses 3,618,388 3,714,256 95,868
Gain Loss on Swap 26,071 0 26,071$
Total Net Income (Loss) (1,260,491)$ (1,422,116)$ 161,625$
Note: these properties are expected to have a Net Loss resulting from depreciation and amortization.
They are cash flow positive yet provide the investor with expected tax losses.
The following is a summary of the Balance sheet for the tax credit entities. BHP is the general
partner and owns a .01% interest in these entities.
Tax Credit Entities (Component Units) Summary Balance Sheet
August-15 December-14 Net Change
Current Assets 3,524,357$ 3,047,976$ 476,381$
Capital Assets 53,279,815 54,545,544 (1,265,729) A
Other Assets 835,440 829,505 5,935
Total Assets 57,639,612$ 58,423,025$ (783,414)$
Current Liabilities 916,825$ 1,458,359$ 541,534$ B
Long Term Liabilities 34,255,553 38,512,306 4,256,754 C
Total Liabilities 35,172,378 39,970,666 4,798,288
Total Equity 22,467,234 18,452,359 (4,014,874) D
Total Liabilities and Equity 57,639,612$ 58,423,025$ 783,414$
A
B
C
D High Mar equity payment of $2,459K, Lee Hill Equity Payment of $ 2,823K offset by YTD loss of ($1109K)
Normal payments on mortgages and notes to BHP plus conversion of High Mar construction loan to
perm with equity payment and payoff of LH construction loan to BHP
Additional Lee Hill Capitalized assets of $260K offset by normal depreciation of fixed assets
Payment of developer fee for Lee Hill $129K and High Mar $257K, High Mar Prestabilization advance to
BHP of $230K
This chart shows our YTD occupancy statistics for the combined tax credits.
47
August-15
Net Rental
Income - YTD
Net Rental
Income -
Budget
Budget
Variance
Variance
%
Physical
Occ YTD
Physical
Occ
Budget
Occupancy
Variance to
Budget
Tax Credits
Portfolio
Combined
$2,269,194 $2,232,963 $36,231 1.62% 98.89% 97.00% 1.89%
Note: Physical Occupancy is measured as of 1st of the month. Units may be occupied after the 1st of the
month resulting in rental income greater than physical occupancy would suggest. Rents on occupied units may
also be greater or less than budgeted resulting in additional variances
48
BH
P
Sta
tem
en
t of A
ctiv
ities
Year to
date
- Au
gu
st 3
1, 2
015
YT
DY
TD
Actu
al
Revis
ed
Bu
dg
et
Varia
nce $
% V
ar
Ref
Varia
nce E
xp
lan
atio
n
RE
VE
NU
E
Op
era
tion
s R
even
ue
Tenant D
wellin
g R
enta
l4,4
97,4
65
$
4,1
27,8
21
$
369,6
43
$
9.0
%A
$87K
rela
tes to
mark
et ra
te u
nits
, $67k re
late
s to
dela
y in
vacancy a
t PH
site
s a
nd
$200K
rela
tes to
PH
whic
h d
id n
ot h
ave a
budget fo
r July
-Aug d
ue to
assum
ptio
n th
at
pro
pertie
s w
ere
sold
Non D
wellin
g R
enta
l Incom
e13,3
75
$
13,3
33
$
42
$
0.3
%
HU
D-O
pera
ting S
ubsid
y618,2
05
$
509,3
43
$
108,8
62
$
21.4
%B
HU
D is
fundin
g b
ased o
n e
stim
ate
. Actu
al 2
015 fu
ndin
g n
ot y
et d
ete
rmin
ed b
y H
UD
.
This
is e
xpecte
d to
be $
160K
favora
ble
by y
ear e
nd.
HA
P P
roje
ct B
ased A
ssis
tance
472,9
77
$
471,4
75
$
1,5
02
$
0.3
%
To
tal O
pera
tion
s R
even
ue
5,6
02,0
22
5,1
21,9
72
480,0
50
9.4
%
Fee R
even
ue
Pro
perty M
gm
t & A
sset M
gm
t Fees
493,9
15
$
446,5
01
$
47,4
15
$
10.6
%C
1 D
iffere
nce re
late
s to
Budget n
ot in
clu
din
g P
H s
ites in
clu
ded in
Pro
ject R
enovate
Develo
pm
ent F
ees
-$
17,7
00
$
(17,7
00)
$
-100.0
%D
1N
o a
dm
in F
ee ta
ken o
n C
FP
used fo
r Pro
ject R
enovate
. Dev F
ee w
ill be p
aid
from
pro
ject
Mgm
t Fees - T
ax C
redits
& S
8297,3
37
$
303,6
13
$
(6,2
76)
$
-2.1
%
Res S
vc In
com
e258,1
24
$
285,4
39
$
(27,3
15)
$
-9.6
%E
Diffe
rence re
late
s to
accountin
g c
hange. R
ath
er th
an c
harg
ing a
fee to
offs
et p
roperty
managem
ent c
osts
, we a
re a
llocatin
g s
ala
ry c
ost to
the g
rant. T
his
diffe
rence o
f
$3,2
14/m
o w
ill gro
w to
$38,0
00 b
y y
ear e
nd
To
tal F
ee R
even
ue
1,0
49,3
76
1,0
53,2
53
(3,8
77)
-0.4
%
Gra
nts
an
d S
ub
sid
ies
HC
V-H
AP
/Adm
in R
evenue
5,6
62,5
96
$
5,6
06,7
21
$
55,8
75
$
1.0
%
Non F
edera
l Gra
nts
and D
onatio
ns
35,0
00
$
-$
35,0
00
$
100.0
%F
Bould
er E
nerg
y C
halle
nge g
rant
Federa
l Capita
l Gra
nts
1,1
56,1
53
$
1,1
08,5
50
$
47,6
03
$
4.3
%
Federa
l Serv
ice G
rants
383,5
63
$
371,2
59
$
12,3
03
$
3.3
%
To
tal G
ran
ts a
nd
Su
bsid
ies
7,2
37,3
12
7,0
86,5
30
150,7
81
2.1
%
Oth
er R
even
ue
Tenant F
ees a
nd U
tility Reim
burs
em
ents
81,1
84
$
86,4
86
$
(5,3
02)
$
-6.1
%
Inte
rest In
com
e299,5
61
$
286,2
98
$
13,2
63
$
4.6
%
Laundry V
endin
g42,0
40
$
40,5
22
$
1,5
18
$
3.7
%
Main
t Charg
es to
Pro
p718,7
15
$
828,9
91
$
(110,2
76)
$
-13.3
%G
1Y
TD
Billin
g h
ours
dow
n d
ue to
vacatio
n tim
e ta
ken. S
hould
partia
lly c
atc
h u
p b
y y
ear
end.
Mis
cella
neous R
evenue
187,6
42
$
130,4
96
$
57,1
46
$
43.8
%
To
tal O
ther R
even
ue
1,3
29,1
42
1,3
72,7
93
(43,6
51)
-3.2
%
To
tal R
even
ue
15,2
17,8
51
14,6
34,5
48
583,3
03
4.0
%
EX
PE
NS
ES
Sala
ries a
nd
Ben
efits
Sala
ries a
nd B
enefits
3,3
98,7
06
$
3,5
21,0
19
$
122,3
12
$
3.5
%
To
tal S
ala
ries a
nd
Ben
efits
3,3
98,7
06
3,5
21,0
19
122,3
12
3.5
%
Pro
perty
Co
sts
Capita
l Impro
vem
ent M
gm
t Fees
-$
17,7
00
$
17,7
00
$
100.0
%D
2S
ee D
1 A
bove. D
irect o
ffset o
f revenue s
hortfa
ll
Managem
ent F
ees
129,5
39
$
127,8
36
$
(1,7
03)
$
-1.3
%
Main
tenance M
ate
rials
161,3
51
$
184,6
96
$
23,3
45
$
12.6
%
Contra
ct L
abor &
Repairs
569,3
73
$
690,7
59
$
121,3
86
$
17.6
%H
Savin
gs fro
m G
rounds a
nd G
en. C
ontra
ct L
abor s
tartin
g la
ter th
an n
orm
al $
22K
,
Janito
rial, P
ain
t and F
loorin
g fo
r unit tu
rns n
ot u
sed a
s u
nits
held
vacant a
t PH
pro
pertie
s
$50K
. Bedbugs in
cid
ents
dow
n s
avin
g $
18K
. Oth
er m
iscella
neous s
avin
gs $
31K
BH
P C
ontra
ct L
abor
553,7
88
$
592,7
79
$
38,9
92
$
6.6
%G
2M
ain
tenance c
harg
es to
Pro
pertie
s u
nder b
udget Y
TD
Extra
ord
inary E
xpense
-$
-$
-$
-
49
BH
P
Sta
tem
en
t of A
ctiv
ities
Year to
date
- Au
gu
st 3
1, 2
015
YT
DY
TD
Actu
al
Revis
ed
Bu
dg
et
Varia
nce $
% V
ar
Ref
Varia
nce E
xp
lan
atio
n
Garb
age a
nd T
rash R
em
oval
114,6
48
$
97,4
65
$
(17,1
83)
$
-17.6
%C
2 D
iffere
nce re
late
s to
Budget n
ot in
clu
din
g P
H s
ites in
clu
ded in
Pro
ject R
enovate
Wate
r and S
ew
er
218,8
59
$
191,2
37
$
(27,6
22)
$
-14.4
%C
3 D
iffere
nce re
late
s to
Budget n
ot in
clu
din
g P
H s
ites in
clu
ded in
Pro
ject R
enovate
Ele
ctric
ity130,5
92
$
134,4
89
$
3,8
97
$
2.9
%
Gas
128,5
13
$
158,6
92
$
30,1
79
$
19.0
%
PIL
OT
64,7
13
$
37,5
05
$
(27,2
08)
$
-72.5
%C
4 D
iffere
nce re
late
s to
Budget n
ot in
clu
din
g P
H s
ites in
clu
ded in
Pro
ject R
enovate
HO
A F
ees
4,0
73
$
3,8
64
$
(209)
$
-5.4
%
To
tal P
rop
erty
Co
sts
2,0
75,4
47
2,2
37,0
21
161,5
74
7.2
%
Op
era
ting
Exp
en
ses
Audit F
ees
53,5
79
$
45,2
03
$
(8,3
76)
$
-18.5
%
Bad D
ebt E
xpense - T
enants
3,3
67
$
13,7
60
$
10,3
93
$
75.5
%
Board
Expense
1,9
34
$
4,8
00
$
2,8
66
$
59.7
%
Consulta
nts
& C
ontra
ct L
abor
43,3
06
$
68,4
00
$
25,0
94
$
36.7
%
Depre
cia
tion
2,2
42,1
39
$
2,1
64,5
25
$
(77,6
14)
$
-3.6
%
Dues a
nd F
ees
45,4
12
$
45,7
04
$
292
$
0.6
%
Expendable
Equip
ment
109,7
37
$
99,4
07
$
(10,3
29)
$
-10.4
%J
Softw
are
costs
earlie
r in y
ear th
an e
xpecte
d.
Fin
ancin
g C
osts
-$
-$
-$
0.0
%
HC
V-H
AP
Expense
4,8
50,0
96
$
5,0
30,9
42
$
180,8
46
$
3.6
%C
5 D
iffere
nce re
late
s to
Budget a
ssum
min
g v
ouchers
at P
roje
ct R
enovate
sta
rted in
July
Insura
nce E
xpense
164,7
77
$
150,1
10
$
(14,6
68)
$
-9.8
%C
6 D
iffere
nce re
late
s to
Budget n
ot in
clu
din
g P
H s
ites in
clu
ded in
Pro
ject R
enovate
Lease U
p E
xpense
-$
-$
-$
0.0
%
Legal E
xpense
46,2
24
$
62,5
33
$
16,3
08
$
26.1
%
Mile
age &
Vehic
le E
xpense
40,0
06
$
48,8
40
$
8,8
34
$
18.1
%
Mis
cella
neous - E
xpense
73,1
89
$
132,1
32
$
58,9
42
$
44.6
%K
Savin
gs re
late
to fe
wer P
redevelo
pm
ent e
xpenses th
an a
mount in
clu
ded in
Revis
ed
Budget, $
17K
and M
TW
savin
gs fro
m a
mount b
udgete
d fo
r EF
AA
Safe
ty N
et p
rogra
m,
$25K
Mortg
age In
tere
st E
xpense
896,5
63
$
878,7
63
$
(17,8
00)
$
-2.0
%
Advertis
ing/M
ark
etin
g22,5
90
$
17,9
00
$
(4,6
90)
$
-26.2
%
Offic
e S
upplie
s30,2
01
$
32,1
26
$
1,9
25
$
6.0
%
Oth
er A
dm
inis
trativ
e E
xpenses
51,0
89
$
31,2
18
$
(19,8
71)
$
-63.7
%L
Inclu
des o
ne-tim
e o
rigin
atio
n fe
e fo
r LO
C o
f $8.8
K
Phone E
xpense
45,2
88
$
52,6
63
$
7,3
75
$
14.0
%
Prin
ting &
Posta
ge E
xpense
33,8
98
$
35,3
99
$
1,5
01
$
4.2
%
Pro
perty M
gm
t & A
sset M
gm
t Fees
493,9
16
$
445,3
98
$
(48,5
17)
$
-10.9
%C
7 D
iffere
nce re
late
s to
Budget n
ot in
clu
din
g P
H s
ites in
clu
ded in
Pro
ject R
enovate
Resid
ent S
erv
ices F
ees
133,2
80
$
115,2
82
$
(17,9
98)
$
-15.6
%C
8 D
iffere
nce re
late
s to
Budget n
ot in
clu
din
g P
H s
ites in
clu
ded in
Pro
ject R
enovate
Sta
ff Tra
inin
g73,5
03
$
84,8
75
$
11,3
72
$
13.4
%
Serv
ice G
rant E
xpense
385,0
95
$
371,2
60
$
(13,8
36)
$
-3.7
%
To
tal O
pera
ting
Co
sts
9,8
50,2
77
9,9
31,5
64
81,2
87
0.8
%
To
tal E
xp
en
ses
15,3
24,4
30
15,6
89,6
04
365,1
74
2.3
%
TO
TA
L N
ET
INC
OM
E (L
OS
S)
(106,5
79)
$
(1,0
55,0
56)
$
948,4
77
$
89.9
%
Note
: Exp
lanatio
ns p
rovid
ed fo
r positiv
e v
aria
nces >
$50,0
00 a
nd 5
% a
nd fo
r negativ
e v
aria
nces >
$10,0
00 a
nd 5
%
50
Actu
al
Actu
al
Net C
han
ge
Au
gu
st-1
5D
ecem
ber-1
4Y
TD
Ref
Co
mm
en
ts
AS
SE
TS
Cu
rren
t Assets
Unre
stric
ted C
ash a
nd C
ash E
quiv
ale
nts
5,2
69,6
43
$
3,8
72,5
23
$
1,3
97,1
20
$
MS
ee d
eta
ils o
n C
ash F
low
Stm
t. Inclu
des re
cip
t of D
evelo
per F
ees fro
m H
M a
nd L
H
Reserv
ed C
ash - R
epla
cem
ents
and O
ther
1,5
38,3
73
$
1,4
94,1
87
44,1
86
Accounts
Receiv
able
153,6
38
$
407,1
68
(253,5
30)
NC
olle
ctio
n o
f Pre
sta
biliza
tion fu
nds lo
aned to
Hig
h M
ar to
com
ple
te c
onstru
ctio
n $
230K
Accounts
Receiv
able
-Tax C
redits
567,6
68
$
1,3
78,3
78
(810,7
10)
OP
aym
ents
receiv
ed fo
r develo
per fe
e fro
m H
igh M
ar $
406K
and L
ee H
ill $387K
Pre
paid
Exp
enses
79,5
43
$
113,0
84
(33,5
40)
Supplie
s-In
vento
ry9,5
63
$
7,6
05
1,9
59
To
tal C
urre
nt A
ssets
7,6
18,4
28
7,2
72,9
44
345,4
84
Restric
ted
Cash
Restric
ted C
ash - O
ther
308,9
49
473,1
24
(164,1
75)
PP
lanned a
nd H
UD
appro
ved u
se o
f $196K
for C
anyo
n P
oin
te p
ark
ing lo
t repla
cem
ent
offs
et b
y norm
al c
ontrib
utio
ns
Restric
ted C
ash - S
ectio
n 8
44,3
98
186,2
54
(141,8
57)
QT
ransfe
r of fu
nds to
unre
stric
ted fo
r KA
and W
P v
oucher fu
nds n
ow
part o
f MT
W.
Restric
ted C
ash - T
enant S
ecurity D
eposits
422,8
97
419,6
47
3,2
50
To
tal R
estric
ted
Cash
776,2
43
1,0
79,0
25
(3
02,7
82)
Cap
ital A
ssets
Constru
ctio
n in
Pro
gre
ss
2,5
49,7
58
593,9
46
1,9
55,8
12
RP
roje
ct R
enovate
costs
are
bein
g c
apita
lized a
s in
curre
d $
1,8
51K
Furn
iture
Fixtu
res a
nd E
quip
ment
534,1
96
413,1
99
120,9
97
SB
udgete
d p
urc
hase o
f 2 m
ain
tenance v
ehic
les $
53K
and c
om
pute
r serv
ers
$40K
, new
washers
and d
ryers
for G
W $
15K
Real E
sta
te A
ssets
-Land a
nd B
uild
ings
84,4
06,1
70
80,8
90,2
95
3,5
15,8
75
TA
dditio
n o
f Orc
hard
Gro
ve la
nd
Less: A
ccum
Depre
cia
tion R
eal E
sta
te A
ssets
(39,4
38,8
95)
(3
7,2
03,9
01)
(2,2
34,9
94)
UN
orm
al Y
TD
Depre
cia
tion
To
tal C
ap
ital A
ssets
48,0
51,2
29
44,6
93,5
39
3,3
57,6
89
Oth
er A
ssets
Note
s R
eceiv
able
15,3
62,9
57
17,3
82,0
90
(2,0
19,1
33)
VLee H
ill Loan p
ayo
ff $1.8
M, c
ash flo
w lo
an p
aym
ents
Bro
adw
ay W
est $
52K
, Red O
ak
Park
$72K
, Westv
iew
$57K
, Holid
ay $
50K
Inte
rest R
eceiv
able
Note
s1,0
71,1
87
1,0
23,8
42
47,3
44
Partn
ers
hip
Investm
ents
399,5
20
399,6
31
(110)
Net A
mortize
d C
osts
300,0
79
307,2
24
(7,1
45)
To
tal O
ther A
ssets
17,1
33,7
43
19,1
12,7
87
(1,9
79,0
44)
TO
TA
L A
SS
ET
S73,5
79,6
42
$
72,1
58,2
95
$
1,4
21,3
48
$
BH
P
Bala
nce S
heet
Au
gu
st 3
1, 2
015 a
nd
Decem
ber 3
1, 2
014
10
/1/2
01
53
:35
PM
51
Actu
al
Actu
al
Net C
han
ge
Au
gu
st-1
5D
ecem
ber-1
4Y
TD
Ref
Co
mm
en
ts
BH
P
Bala
nce S
heet
Au
gu
st 3
1, 2
015 a
nd
Decem
ber 3
1, 2
014
LIA
BIL
ITIE
S &
EQ
UIT
Y
LIA
BIL
ITIE
S
Cu
rren
t Lia
bilitie
s
Accounts
Paya
ble
179,8
74
$
364,2
92
$
184,4
19
$
WN
orm
al a
ctiv
ity.
Accru
ed P
ayro
ll117,9
14
$
54,5
74
(63,3
40)
Accru
ed P
ayro
ll Taxe
s a
nd B
enefits
34,4
89
$
34,0
44
(445)
Accru
ed C
om
pensate
d A
bsences
283,8
12
$
262,2
22
(21,5
90)
Oth
er A
ccru
ed E
xpenses
230,2
36
$
227,9
82
(2,2
55)
Paya
ble
to T
ax C
redit P
ropertie
s-
$
2,0
00
2,0
00
Defe
rred R
evenue
-$
721,2
81
721,2
81
XC
apita
l Fund g
rant re
cognize
d a
s in
com
e w
hen e
xpended o
n P
roje
ct R
enovate
Curre
nt P
ortio
n o
f Long T
erm
Debt
879,5
22
$
879,5
22
0 P
repaid
Rent
45,6
67
$
43,0
07
(2,6
60)
Security D
eposits
416,2
20
$
420,6
34
4,4
14
To
tal C
urre
nt L
iab
ilities
2,1
87,7
32
3,0
09,5
57
821,8
25
Lo
ng
-Term
Lia
bilitie
s
Note
s P
aya
ble
3,0
75,8
39
75,8
39
(3,0
00,0
00)
YO
rchard
Gro
ve fu
nds fro
m C
ity of B
ould
er re
cord
ed a
s N
ote
Paya
ble
with
5 yr. te
rm
Accru
ed In
tere
st P
aya
ble
52,7
31
102,7
54
50,0
23
Mortg
ages P
aya
ble
33,0
23,1
10
33,5
49,0
64
525,9
53
ZN
orm
al lo
an a
mortiza
tion
Bonds P
aya
ble
1,1
21,6
93
1,1
95,9
65
74,2
72
To
tal L
on
g-T
erm
Lia
bilitie
s37,2
73,3
73
34,9
23,6
21
(2,3
49,7
51)
TO
TA
L L
IAB
ILIT
IES
39,4
61,1
05
37,9
33,1
78
(1,5
27,9
27)
EQ
UIT
Y
Tota
l Equity
34,1
18,5
37
34,2
25,1
16
(106,5
79)
TO
TA
L L
IAB
ILIT
IES
AN
D E
QU
ITY
73,5
79,6
42
$
72,1
58,2
95
$
(1,4
21,3
48)
$
Note (1) : E
xplanations provided for balance sheet ch
anges >
$100,000
Note (2): B
HP has a Line of Credit a
vailable for borrowing of up to $6.8 Millio
n.
10
/1/2
01
53
:35
PM
52
Fo
r the m
on
th
of A
ug
ust 3
1,
2015
Year to
Date
Ref
Cu
rren
t Mo
nth
Co
mm
en
ts
Reco
ncilia
tion
of N
et In
co
me to
Net C
ash
Pro
vid
ed
(Used
) by O
pera
ting
Activ
ities
Net In
co
me (D
efic
it)131,5
11
$
(106,5
79)
$
Ad
justm
en
ts to
Reco
ncile
Net In
co
me to
Net C
ash
Pro
vid
ed
(Used
) by O
pera
ting
Activ
ities
Incre
ase (D
ecre
ase) A
ccum
Depre
cia
tion
280,3
92
2,2
42,1
39
(Incre
ase) D
ecre
ase in
Accounts
Receiva
ble
1,7
52
1,0
64,2
40
W1
Receip
t of D
ev F
ee d
ue fro
m H
M a
nd L
H p
lus n
orm
al ye
ar e
nd c
ash
flow
paym
ents
(Incre
ase) D
ecre
ase in
Pre
paid
Exp
enses
(13,9
35)
33,5
40
Incre
ase (D
ecre
ase) in
Pre
paid
Rent a
nd S
ecurity D
eposits
(6,6
85)
(1,7
54)
(Incre
ase) D
ecre
ase in
Supplie
s/In
vento
ry(9
8)
(1,9
59)
(Incre
ase) D
ecre
ase in
Reserve
d C
ash
(17,2
28)
(44,1
86)
(Incre
ase) D
ecre
ase in
Restric
ted C
ash
224,0
73
302,7
82
Incre
ase (D
ecre
ase) in
Paya
ble
s a
nd A
ccru
ed E
xpenses
(115,9
49)
(98,7
90)
Incre
ase (D
ecre
ase) in
Defe
rred R
eve
nue
0(7
21,2
81)
W2
Recognitio
n o
f capita
l Gra
nt a
s s
pent o
n P
roje
ct R
enova
te
To
tal A
dju
stm
en
ts352,3
24
2,7
74,7
32
Net C
ash
Pro
vid
ed
(Used
) by O
pera
ting
Activ
ities
483,8
35
2,6
68,1
53
Cash
Flo
ws fro
m In
vestin
g A
ctiv
ities
(Incre
ase) D
ecre
ase in
Constru
ctio
n in
Pro
gre
ss
(481,0
87)
(1,9
55,8
12)
W3
Constru
ctio
n in
Pro
gess fo
r Pro
ject R
enova
te
(Incre
ase) D
ecre
ase in
Furn
iture
Fixtu
res a
nd E
quip
ment
(14,4
78)
(120,9
97)
(Incre
ase) D
ecre
ase in
Real E
sta
te A
ssets
(5,2
61)
(3,5
15,8
75)
W4
Incre
ase d
ue to
addin
g O
rchard
Gro
ve la
nd
(Incre
ase) D
ecre
ase in
Note
s a
nd In
tere
st R
eceiva
ble
(3
2,7
32)
1,9
71,8
99
Net C
ash
Pro
vid
ed
(Used
) by In
vestin
g A
ctiv
ities
(533,5
58)
(3,6
20,7
84)
Cash
Flo
ws fro
m F
inan
cin
g A
ctiv
ities
Incre
ase (D
ecre
ase) in
Curre
nt P
ortio
n o
f Long T
erm
Debt
00
Incre
ase (D
ecre
ase) in
Note
s P
aya
ble
03,0
00,0
00
W5
Incre
ase in
Note
s P
aya
ble
is lo
an fro
m C
OB
for O
rchard
Gro
ve
Incre
ase (D
ecre
ase) in
Mortg
ages a
nd B
onds P
aya
ble
(131,3
33)
(650,2
49)
Net C
ash
Pro
vid
ed
(Used
) by F
inan
cin
g A
ctiv
ities
(131,3
33)
2,3
49,7
51
Net In
cre
ase (D
ecre
ase) in
Cash
an
d C
ash
Eq
uiv
ale
nts
Net In
cre
ase (D
ecre
ase) in
Cash a
nd C
ash E
quiva
lents
(181,0
56)
1,3
97,1
20
W
Unre
stric
ted C
ash a
nd C
ash E
quiva
lents
- Begin
nin
g5,4
50,6
99
3,8
72,5
23
Un
restric
ted
Cash
an
d C
ash
Eq
uiv
ale
nts
- En
din
g5,2
69,6
43
$
5,2
69,6
43
$
BH
P
Sta
tem
en
t of C
ash
Flo
ws
Year to
date
- Au
gu
st 3
1, 2
015
10/1
/20153:3
5 P
M
53
Boulder Housing Partners - Portfolio Analysis
September 2014 - August 2015
Property Address Units PUPA EGI PUPA OpExPUPA NOI
PUPA Debt
Adjusted DSCR YTD
Arapahoe Court 951,953 Arapahoe 14 5,619$ (7,423)$ (1,804)$ 395$ - Diagonal Court 3265-3273 30th St. 30 7,829$ (6,501)$ 1,328$ 187$ - Iris Hawthorne 1650-1690 Iris Ave. 14 20,333$ (7,487)$ 12,846$ 259$ - Kalmia 3500 Nottingham 53 8,494$ (6,933)$ 1,561$ 158$ - Madison 1130-1190 35th St. 33 7,398$ (9,109)$ (1,711)$ 131$ -
Manhattan 660-690 Manhattan 43 7,032$ (6,023)$ 1,009$ 278$ -
Public Housing I Sub Total: 187 8,529$ (7,117)$ 1,412$ 211$ -
Northport 1133 Portland Place 50 5,725$ (5,450)$ 275$ 248$ -
Walnut Place 1940 Walnut Place 95 5,900$ (4,873)$ 1,027$ 357$ -
Public Housing II Sub Total: 145 5,840$ (5,072)$ 768$ 319$ -
Canyon Pointe 700 Walnut 82 10,289$ (5,583)$ 4,706$ 3,604$ 1.31
Glen Willow 301-333 Pearl St. 34 11,222$ (9,578)$ 1,644$ -$ -
Project Based Sub Total: 116 10,562$ (6,754)$ 3,809$ 2,547$ 1.50
Arapahoe East 4610 Arapahoe 11 11,928$ (7,291)$ 4,637$ 1,750$ 2.65
Dakota Ridge 4900 10th St. 13 16,390$ (5,800)$ 10,590$ 7,524$ 1.41
Sanitas Place (4) 3640 Broadway 12 10,214$ (7,458)$ 2,756$ 3,024$ 0.91
Twin Pines 1700 22nd St. 22 10,600$ (4,676)$ 5,924$ 3,088$ 1.92 Combine Loan One Subtotal 58 12,070$ (6,000)$ 6,070$ 3,815$ 1.59
101 Canyon 101-103 Canyon 6 24,945$ (8,330)$ 16,615$ 7,676$ 2.16 Hayden Place 34th & Hayden Place 24 10,056$ (5,761)$ 4,296$ 3,290$ 1.31
Whittier 1946 Walnut St. 10 11,267$ (7,060)$ 4,207$ 2,632$ 1.60
Woodlands 2600 Block of Mapleton 35 14,152$ (7,089)$ 7,063$ 5,075$ 1.39
Combine Loan Two Subtotal 75 13,320$ (6,759)$ 6,561$ 4,386$ 1.50
Bridgewalk 602-698 Walden Circle 123 18,346$ (5,335)$ 13,010$ 6,719$ 1.94
Foothills 4500 block of 7th/8th 74 13,821$ (5,571)$ 8,251$ 6,385$ 1.29
Midtown (1) 837 20th St. 13 11,033$ (8,156)$ 2,877$ -$ -
Workforce Sub Total: 343 14,932$ (5,917)$ 9,015$ 5,391$ 1.67
Portfolio Totals: 791 11,111$ (6,168)$ 4,942$ 2,820$ 1.75
September 2014 - August 2015
Tax Credit Properties Address Units PUPA EGI PUPA OpEx PUPA NOI
PUPA Debt
Adjusted DSCR
Broadway East 3160 Broadway 44 11,393$ (5,614)$ 5,779$ 3,124$ 1.85 Broadway West 3120 Broadway 26 11,316$ (6,307)$ 5,009$ 2,467$ 2.03
High Mar (2) 4990 Moorhead Ave 59 11,007$ (4,123)$ 4,823$ 3,860$ 1.35
Holiday 1500 Lee Hill 49 10,653$ (4,807)$ 5,846$ 2,998$ 1.95
Lee Hill (3) 1175 Lee Hill 31 7,487$ (6,570)$ 1,374$ -$ - Red Oak Park 27th & Valmont 59 11,432$ (5,236)$ 6,196$ 3,888$ 1.59 Vistoso 4500 Baseline 15 11,350$ (7,361)$ 3,989$ 2,434$ 1.64
WestView 4600 Broadway 34 12,012$ (3,858)$ 8,154$ 5,567$ 1.46
Tax Credit Sub Total: 317 8,109$ (3,776)$ 4,333$ 2,535$ 1.71
Properties in Transition Address
PUPA - Per Unit Per Annum
Orchard House 1603 Orchard St. EGI - Effective Gross Income = (Total Revenue - Grant Revenue)
Valmont/Wallace 2625 Valmont Rd. Op Ex - Operating Expenses = (Total Expenses-Capital
Orchard Grove Valmont and 34th Expenses-Extraordinary Maintenance and Non-Op Ex)
NOI - Net Operating Income = (Net Income + Non OpEx)
DSCR - Debt Service Coverage Ratio = NOI/Debt
ADJUSTED - For Capital Grants, Capital Exp. and Extrodinary Maint.
(2) High Mar loan converted to permanent loan Feb 1, 2015. DSCR March -July shown above at 1.35
(3) Lee Hill does not have permanent debt so DSCR does not apply.
YTD DSCR = 1.22
(4) Sanitas Place had higher than normal maintenance expense in Oct and Dec 2014. With only 12 units this results in negative DSCR.
Index of terms
NOTES: (1) Glen Willow and Midtown are pledged as collateral for BHP Line of Credit
54
BH
P C
AS
H R
ep
ort
31
-De
c-14
31
-Jul-1
53
1-A
ug
-15
Un
restricte
d C
ash
Ava
ilab
le fo
r Op
era
tion
sB
ala
nce
*C
om
mitte
d
Fun
ds
Ava
ilab
le
Ba
lan
ceB
oa
rd T
arg
et
Surp
lus
(De
ficit)B
oa
rd T
arg
et
BH
P O
pe
ratin
g R
ese
rves
1,8
10
,93
64
,07
3,5
48
3,9
29
,83
20
3,9
29
,83
22
,00
0,0
00
1,9
29
,83
22
Mo
nth
s of o
pe
ratin
g e
xpe
nse
s (exclu
din
g H
AP
)
BH
P R
ep
lace
me
nt R
ese
rves
1,4
86
,79
01
,51
2,4
27
1,5
29
,46
50
1,5
29
,46
51
,03
0,0
00
49
9,4
65
$3
,00
0 p
er W
orkfo
rce U
nit
To
tal U
nre
stricted
BH
P C
ash
2,7
76
,11
55
,58
5,9
76
5,4
59
,29
70
5,4
59
,29
73
,03
0,0
00
2,4
29
,29
7
*C
om
mitte
d U
nre
stricted
Fun
ds
No
te:
Be
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55
c. 2016 Proposed Pay Grade Changes
Action requested at this meeting:
In anticipation of our 2016 budget discussions, we want to preview our proposed
compensation changes. The compensation plan will be approved as part of the budget
package in December.
Background:
It is our practice to do a thorough review of BHP’s salary structure every two to three
years to assure industry, market and internal equity and help to assure recruitment
and retention of highly motivated, values-aligned productive employees.
You might recall that in 2013, BHP retained Sue Bohline of HCC Inc., as our
compensation consultant to review our salary structure and market analysis process.
Sue has worked with the city, Boulder Community Hospital, Denver Public Schools and
several housing authorities in Colorado and knows BHP well. In 2013, salary ranges
for most positions were found to be competitive; the grade assignment of individual
jobs was modified as necessary to better align with market, but there was no overall
structure adjustment below the senior team level. The top three grades were
adjusted, on average, 8%, based on the market analysis. Ranges for the top three
grades were again adjusted in 2014, but remained well below market.
This summer, BHP again retained HCC to review our market analysis and recommend
adjustment in salary ranges, as appropriate. HCC’s analysis showed jobs with a wide
range of market values within certain salary grades, and uneven market linkage
across grades. Based on the market analysis and standard compensation practice,
HCC recommended:
o Reducing the distance between salary grades – The current structure had
“midpoint differentials” (distance between successive salary range
midpoints) of 16 – 33%. Instead, midpoint differentials in the 10 – 15%
range are common in the market and reflect the “typical” progression
between job levels in the market.
o Reducing the percentage spread from salary range minimum to maximum
(the “range spread”) – BHP’s current salary ranges are significantly wider
than is common in the market. Salary range midpoints are a proxy for the
median market value of the jobs in that grade; salary ranges that are wider
than usual yield range minimums that are not competitive hiring rates.
HCC recommended reducing the range spread from 60% to 50%.
56
o Reducing the distance between salary grades required adding 3 new grades
to fit the range of market data. The updated salary structure (see attached)
has 13 grades vs 10 grades in the current structure.
These actions are consistent with changes the City has made in its salary structure
over the last 5 years.
Market Analysis Process
o For the market analysis, BHP used salary surveys from Mountain States
Employment Council (MSEC) which covers housing authorities and
property management firms, public sector organizations, and general
industry data in the Denver/Boulder area. Thirty seven of BHP’s 43 jobs
were market-priced. The published survey data was supplemented by
compensation data from the city, county and other Housing Authorities in
the region of similar size and complexity.
Impact
o We predict the cost impact of implementing the new structure is
approximately $15,000 or .005% of our total salary budget
o Increasing the number of salary grades means jobs are grouped into grades
differently than in the prior structure. Across jobs, salary range midpoints
increased 8% overall. The increase in salary range midpoint for individual
jobs ranged from 0% to over 20%, based on what was required to close
market gaps.
o The salary range midpoints are approximately 5% above the 2015 market
median and approximately 1.4% above market average. Sue recommends
this apparent above-market benchmark for several reasons. One, this data
was gathered early in 2015, and proposed changes do not take effect until
1/1/2016. By the time we arrive at January, Sue predicts that the new pay
grades will be very close to the market average when implemented. The
largest increase in range midpoints occurs at the top of the salary structure
(Manager/Director level.) The salary ranges for these jobs have historically
been compressed by the Executive Director range. The largest increase in
midpoints is for the CFO and recognizes growth in role as well as market
data.
o The amount of annual performance raises are determined by each job’s
position on the pay grade relative to the market average. With the new
structure, several positions have moved below the market average on the
pay grade which will result in higher percent raises for some employees
than in 2015, approximately $15,000 impact as noted above.
Next Steps:
57
Sue presented the results of the salary range analysis at the Finance Committee on
October 5. She will attend the October 12 Board meeting to answer any additional
questions.
Attachments:
o 2015/2016 Pay Grade Comparison
58
Cu
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Sala
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tructu
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Up
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A$23,920
$33,025$33,973
$38,625$44,025
84.1%38.1%
17.0%14.0%
B$31,925
$38,300$41,500
$44,675$51,075
22.2%60.0%
20.0%16.6%
14.3%C
$37,050$44,450
$48,150$51,850
$59,25016.0%
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D$42,950
$51,540$55,838
$60,150$68,725
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20.0%16.7%
14.3%E
$49,850$59,800
$64,800$69,775
$79,75016.1%
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F$57,850
$69,400$75,200
$80,975$92,550
16.0%60.0%
20.0%16.7%
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$69,415$83,298
$90,240$97,182
$111,06520.0%
60.0%20.0%
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H$92,308
$110,769$120,000
$129,321$147,692
33.0%60.0%
20.0%16.7%
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$111,538$133,846
$145,000$156,154
$178,46220.8%
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1A
$29,600$33,636
$37,000$40,364
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10.0%2
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$33,600$38,182
$42,000$45,818
$50,40013.5%
50.0%13.6%
20.0%10.0%
3B
/C$38,600
$43,864$48,250
$52,636$57,900
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C/D
$43,200$49,091
$54,000$58,909
$64,80011.9%
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5D
/E$49,200
$55,909$61,500
$67,091$73,800
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10.0%6
E$56,000
$63,636$70,000
$76,364$84,000
13.8%50.0%
13.6%20.0%
10.0%7
F$62,800
$71,364$78,500
$85,636$94,200
12.1%50.0%
13.6%20.0%
10.0%8
F$72,000
$81,818$90,000
$98,182$108,000
14.6%50.0%
13.6%20.0%
10.0%9
G$84,000
$95,455$105,000
$114,545$126,000
16.7%50.0%
13.6%20.0%
10.0%10
$96,000$109,091
$120,000$130,909
$144,00014.3%
50.0%13.6%
20.0%10.0%
11H
$108,000$122,727
$135,000$147,273
$162,00012.5%
50.0%13.6%
20.0%10.0%
12$120,000
$136,364$150,000
$163,636$180,000
11.1%50.0%
13.6%20.0%
10.0%13
J$136,000
$154,545$170,000
$185,455$204,000
13.3%50.0%
13.6%20.0%
10.0%
Cu
rren
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tructu
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59
3. ACTION/DISCUSSION AGENDA: DEVELOPMENT
a. Development Committee Report
4. ACTION/DISCUSSION AGENDA: RESIDENT SERVICES
a. Resident Representative Council Report
VII. UPDATE AND INFORMATIONAL ITEMS
1. Palo Park
Previous Board Meeting:
At the last meeting, the Board received an update on the project.
Updates and Next Steps:
BHP is still awaiting the transfer of land from the City; however, we are working
towards a closing by the end of November. Encroachments by neighbors to the west
have been cleaned up.
BHP submitted the applications for concept plan review and annexation to the City at
the beginning of September. Planning Board will review these applications on
Thursday, November 19. Tentative dates for the City Council review are December 1
and January 5. BHP will continue to move forward with design and pricing for the
project in the meantime in order to meet the tax credit application deadline on
February 1.
The City’s Division of Housing Technical Review Group (TRG) has recommended the
City Manager award Affordable Housing Funds to the project in the amount of
$975,000. BHP will also be pursuing 4% LIHTC, State Tax Credits, and CDBG-DR
(Disaster Recover) funds in 2016.
60
2. Project Renovate
As we reported in a mid-month communication with you, the big news this month is
that we closed our financial transaction. The team has moved quickly into the
relocation process which began last Friday. As such we’ll let the record reflect the
earlier communication:
Dear Commissioners,
On behalf of Laura Sheinbaum and Jim Koczela and their amazing Project
Renovate team, I’m thrilled to share the news that our transaction closed
yesterday, as scheduled. Construction starts on Monday and residents are
packing today. Now that the hard work is done, the hard work begins. We’re
excited.
This closing represents almost 8 years of effort to translate the pilot
conversion project at Broadway East into a portfolio wide transformation
project. This is a victory for the persistent … and the clever. But most
importantly it represents a much-needed investment in our families, our
children’s potential, our partners and the asset. When completed, in
December 2016, we will have made an enormous difference for so many.
Betsey
The start and end dates of construction by site are listed below.
Walnut Place: October 2015-July 2016
Diagonal Court: October 2015 – March 2016
Iris Hawthorn: April 2016 – December 2016
Kalmia: October 2015 – September 2016
Manhattan: October 2015 – June 2016
Northport: February 2016 – September 2016
3. Development Project Tracking
Update this month:
An update of the monthly project tracking summary is provided as an attachment to
this memorandum.
Attachments:
• Development Tracking Sheet
61
5. Current City, State and Federal Issues Summary: October 2015
Housing Boulder Update
The Housing Boulder Process Committee will work with city staff in the next month to
develop a community engagement approach. The Committee is made up of three City
Council members and two Planning Board members. Larger housing issues are
connected to the 2015 Boulder Valley Comprehensive Plan Update process, which will
be in the analysis and map updating phase through early 2016. The Housing Boulder
Action Plan was approved by the Boulder City Council at the September 1 meeting.
Boulder Student Apartment Complex Sale
On September 16, The Province Boulder student apartment complex, located east of
US-36 and Colorado Ave, sold for $48.8 million to a company from Memphis,
Tennessee. The price per unit surpasses prior Boulder sales per unit by over $100,000
at nearly $581,000 per unit.
Four-bedroom units start at $954 per bed and two-bedroom units are a minimum of
$1,210 per unit. The sale comes at a time when the average monthly rent on a two-
bedroom apartment in Boulder reaches $2000.
Google Campus Construction Begins
Construction started on Boulder’s Google Campus on August 16. Phase 1&2 will
consist of the first two buildings. Completion is expected in early 2017 for the 4.3-acre
site in the southwest corner of 30th and Pearl.
62
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63