HOUSING OPPORTUNITIES COMMISSION OF MONTGOMERY COUNTY

10400 Detrick Avenue

Kensington, Maryland  20895

(240) 773-9025

 

SPECIAL SESSION OPEN MEETING

M I N U T E S

May 16, 2003

03 - 06

 

A special session meeting of the Housing Opportunities Commission of Montgomery County was conducted on Friday, May 16, 2003 at 10400 Detrick Avenue, Kensington, Maryland beginning at 10:59 a.m. Those in attendance were:

 

Present

Richard Y. Nelson, Jr., Chair

Norman Cohen, Vice Chair

Y. Monroe Galloway, Chair Pro Tem

Ralph D. Bennett, Jr.

Michael J. Kator

 

                                                                        Absent

LaKeyia L. Thompson

 

Also Attending

Scott Minton, Executive Director                                                          Ken Tecler

Peter Engel                                                                                          Stuart Raynor  

Lembit Jogi                                                                                           John McIlroy

Dana Miller, Special Assistant to the Commission                     

 

Guests

none

 

            Chair Nelson convened the meeting of the Housing Opportunities Commission at 10:59 a.m.  This special session was held for the purpose of consideration of two deliberation items.

 

 

I.          DELIBERATION

 

 

A.                 Authorization for Executive Director to Execute Contract for Replacement of Slate Roofs and Related Work at Holly Hall Apartments

 

Stuart Raynor, Director of Housing Management, informed the Commission that three bidders responded to the Invitation for Bids (IFB).  The IFB stipulated criteria on experience with slate roofs.  Specifically, bidders were required to have extensive experience with installation of slate roofs with projects in excess of $500,000.  He informed the Commission that the low bidder (Interstate Corporation) is deemed not qualified.  They are, however, qualified with installation of Majestic (imitation) Slate and asphalt shingle.

                                   

            Mr. Raynor stated that the lowest qualified bidder is James Meyers Company.  Their bid of $711,744 is below the consultant’s estimate of $800,000.

 

            Mr. Raynor presented the Commission with samples of the slate, imitation slate and the asphalt shingle.  The asphalt shingle was immediately ruled out.  Mr. Raynor then provided background on the Majestic Slate which has been on the market for 15 to 20 years.  The product has a 50-year warranty.  He informed the Commission that the consultant has expressed that he is not in favor of using the Majestic Slate. 

 

A lengthy discussion ensued wherein the consultant’s concerns about color degradation were discussed.  Commissioner Kator indicated that slate also has color degradation and growth of things such as moss.  Commissioner Kator informed the Commission that there is another product which is a textured asphalt material which closely resembles slate at a lower cost than slate.  He stated that he was surprised that staff did not investigate and price the better quality asphalt products. Additionally, Commissioner Kator stated that, as a public agency, it would be hard to defend utilizing $750,000 to put a slate roof on a property.

 

There was discussion of the better asphalt product and speculation of the cost. 

 

Commissioner Bennett stated that he is favor of slate.  He stated that the rejoinder to public criticism is that the Agency is trying to protect the quality of the asset. Commissioner Kator stated that the heavily textured asphalt shingles are not easily identifiable.  They closely resemble slate as an installed product.

 

In response to a question by Chair Nelson, John McIlroy confirmed that the Horizon asphalt shingle (a relatively standard shingle) is what was specified in the IFB.  The higher quality asphalt shingle was not specified in the IFB.  Mr. McIlroy stated that the consultant specified the Horizon shingles. 

 

Chair Nelson stated that he had not heard enough objections to the Majestic Slate that would justify utilizing slate. 

 

There was a discussion of re-bidding or submitting a change order to get prices for the better, textured shingle.  Mr. McIlroy proposed entering into a contract for the work and submitting a change order for the upgraded shingle.  Mr. Minton confirmed that, if asphalt shingles were selected, the low bidder (Interstate Corporation) would be the contractor.  There was a brief discussion about the labor costs associated with the shingles.

 

After a brief discussion, it was decided staff would assess the better quality textured asphalt shingle.  Upon satisfaction with the product for the Holly Hall roofs, the Executive Director would then have the authority to execute a contract with Interstate Corporation.  If staff is not satisfied with the product, they would have to come back to the Commission with alternatives.  It was noted that the resolution would be revised accordingly.

 

Commissioner Kator moved to adopt the revised resolution.  Commissioner Bennett seconded the motion.  Affirmative votes were cast by Commissioners Galloway, Cohen, Nelson, Bennett and Kator.  Commissioner Thompson was absent and did not participate in the vote.

 

RESOLUTION: 2003 – 48                            RE:     Authorization for Executive

                                                                                                            Director to Execute

                                                                                                 Contract for Replacement of

                                                                                                Slate Roofs and

                                                                                    Related Work at Holly Hall

                                                                                    Apartments

 

            WHEREAS, the Housing Opportunities Commission (HOC) issued an Invitation for Bids (IFB) for replacement of the slate roofs at Holly Hall Apartments; and

 

            WHEREAS, in response to the IFB three firms submitted bids for replacement of the slate roof with slate or with one of two other products; and

 

            WHEREAS, HOC staff and the consultant determined that Interstate Corporation is the lowest responsive and responsible bidder for the installation asphalt shingles at Holly Hall.

 

            NOW, THEREFORE, BE IT RESOLVED by the Housing Opportunities Commission that the Executive Director or his designee is hereby authorized to execute a contract for an asphalt roof at Holly Hall upon review of the materials and satisfaction of the quality and suitability for replacement of slate roofs and related work at Holly Hall Apartments.  The Executive Director is further authorized to approve contract modifications that do not exceed ten percent (10%) of the original contract amount in accordance with the Housing Opportunities Commission Procurement Policy.

 

B.        Authorization for Waiver of HOC Procurement Policy for Selection of General Contractor for the Econo Lodge in Gaithersburg -

 

            Lembit Jogi, of the Real Estate Division, informed the Commission that HOC is acting as the Development Coordinator for the acquisition and renovation of the Econo Lodge for Special Needs Housing. 

 

            Mr. Jogi reminded the Commission that a similar request for a waiver of the procurement policy was approved for the selection of the architect for this project.  Currently, staff is seeking a waiver of the procurement policy to select the general contractor.  He explained that staff recommends limiting the bidding to five qualified general contractors.  He listed two reasons for limiting the solicitation of bids: 1) to expedite the process and 2) the Department of Housing and Community Affairs (DHCA) would like to ensure that a qualified contractor is selected.

 

            Mr. Jogi directed the Commission’s attention to a letter from DHCA which requests utilization of the expedited approach.  He then directed their attention to the list of qualified contractors.

 

            In response to a question by Vice-Chair Cohen, Mr. Jogi confirmed that the contract will contain a provision for a post-completion audit.  Mr. Jogi stated that the books will be open and will show all of the costs of the sub-contracted costs, materials, and labor. 

 

            Peter Engel, Director of Real Estate, stated that the contractors will essentially bid on the general requirements and the fee because the costs have not been determined.  He stated that cost certification would be done on the back end.  Mr. Engel pointed out that DHCA is paying for this. 

 

            Mr. Jogi stated that the lowest responsive bidder will be selected. 

 

            Mr. Minton asked what parties would be involved in contractor selection.  Mr. Jogi stated that the development agreement, which has not been signed, specifies that the DHCA must approve the final selection of the general contractor.

 

            Mr. Minton stated that he wants the development agreement signed prior to entering into contract with a general contractor.

 

            Chair Nelson and Mr. Minton agreed that the only requested change to the procurement policy is the solicitation of bids from five qualified contractors.  All of the other elements of the HOC procurement policy still apply.

 

            It was determined that approval and authorization to enter a contract with a general contractor must come from the Commission after the selection has been made. 

 

            There was brief discussion pertaining to subcontractors pricing and costs.  It was confirmed that the general contractor will include the subcontractors’ costs in their guaranteed maximum price.

                       

            Mr. Jogi stated that the list of general contractors was generated by the PLQ development team.  The list was mutually agreed upon.

 

            Commissioner Bennett moved to adopt the resolution.  Commissioner Galloway seconded the motion.  Affirmative votes were cast by Commissioners Cohen, Kator, Bennett, Nelson and Galloway.  Commissioner Thompson was absent and did not participate in the vote.

 

RESOLUTION: 2003 – 49                                        RE:     Authorization for Waiver of HOC Procurement Policy for Selection of General Contractor for the Econo Lodge in Gaithersburg

                                                                                               

            WHEREAS, the Housing Opportunities Commission of Montgomery County (HOC) is acting as the Development Coordinator for Montgomery County Government in the renovation and conversion of the Econo Lodge for Special Needs Housing; and

 

            WHEREAS, the renovation and conversion of the Econo Lodge to Special Needs Housing requires the services of a qualified general contractor to work with the design team and complete the renovations; and

 

            WHEREAS, the Department of Housing and Community Affairs (DHCA), representing the County in this undertaking, requests that HOC follow an expedited procurement process for soliciting bids from five qualified general contractors identified by the PLQ Team; and

 

            WHEREAS, the Commission supports DHCA’s waiver request of HOC’s Procurement Policy limiting the solicitation of general contractors to the list developed by the PLQ Team;

 

            NOW, THEREFORE, BE IT RESOLVED by the Housing Opportunities Commission of Montgomery County that the Executive Director is authorized to move forward with an RFP for general contractors limited to the list identified by the PLQ Team.

 

 

There being no further business to come before this session of the Commission, a motion was made, seconded and unanimously adopted to adjourn.

 

                        The meeting adjourned at 11:35 a.m.

 

 

Respectfully submitted,

 

D. Scott Minton

Secretary-Treasurer

/drm

 

 

 

 

 

HOUSING OPPORTUNITIES COMMISSION OF MONTGOMERY COUNTY

10400 Detrick Avenue

Kensington, Maryland  20895

(240) 773-9025

 

M I N U T E S

May 7, 2003

03 - 05

 

A regular meeting of the Housing Opportunities Commission of Montgomery County was conducted on Wednesday, May 7, 2003 at 10400 Detrick Avenue, Kensington, Maryland beginning at 7:20 p.m. Those in attendance were:

 

Present

Richard Y. Nelson, Jr., Chair

Norman Cohen, Vice Chair

Y. Monroe Galloway, Chair Pro Tem

Ralph D. Bennett, Jr.

Michael J. Kator

LaKeyia L. Thompson

 

 

Also Attending

Scott Minton, Executive Director                                                          Ken Tecler

Annie Alston                                                                                         Joy Flood

Lillian Durham                                                                          Stuart Raynor  

Peter Engel                                                                                           Earl DeMaris

Zachary Smith                                                                                      Harold Kramer

Scott Ewart                                                                                          Patrick Mattingly

            Vivian Benjamin                                                                                    Steve Lukaczer

            John Rossbach                                                                                     Kayrine Brown

            William Anderson                                                                                 Tom DeBrine

Dana Miller, Special Assistant to the Commission                     

 

Guests

Jeff Kirby, J. Kirby Development

Frankie Blackburn, Impact Silver Spring

Robin Racer, Impact Silver Spring

 

            Chair Nelson convened the meeting of the Housing Opportunities Commission at 7:20 p.m.  He then called for consideration of the Consent Calendar.  No comments or objections were made and, as such, the Consent Calendar was adopted upon approval of Commissioners Nelson, Kator, Thompson, Galloway, Bennett and Cohen.

 

I.          CONSENT CALENDAR

 

                       A.       Approval of Minutes of April 9, 2003 - The minutes were approved as written.

 

              B.       Authorization for Executive Director to Execute Contract for Site Improvements at Tobytown, Parkway Woods, Ken Gar, Washington Square, Towne Centre Place and Sandy Spring Meadow   - The following Resolution was adopted:

 

RESOLUTION:  03 – 40                                RE:    Authorization for Executive

Director to Execute Contract for Site Improvements at Tobytown, Parkway Woods, Ken Gar, Washington Square, Towne Centre Place and Sandy Spring Meadow

                                                                                                 

                                                                                                                                                                                               

WHEREAS,  the Housing Opportunities Commission (HOC) issued an Invitation for Bids (IFB) for site improvements at Tobytown, Parkway Woods, Ken Gar, Washington Square, Towne Centre Place and Sandy Spring Meadow; and

 

WHEREAS, two firms submitted bids in response to the IFB; and

 

WHEREAS,  HOC staff and the architects retained for the solicitation determined that  the lower bidder, Intown Restorations, Inc., is a responsive and responsible bidder.

 

NOW, THEREFORE, BE IT RESOLVED by the Housing Opportunities Commission that the Executive Director or his designee is hereby authorized to execute a contract with Intown Restorations, Inc. in the amount of $378,000.00 for site improvements at the six communities and to approve contract modifications that do not exceed ten percent (10%) of the original contract amount in accordance with the Housing Opportunities Commission Procurement Policy.

 

 

              C.       Authorization for Executive Director to Execute Declaration of Covenants and Grant of Stormwater Easement and Right of Way for Middlebrook Square - The following Resolution was adopted:

 

 

 

 

 

RESOLUTION: 03-41                                   RE:     Authorization for Executive Director to Execute Declaration of Covenants and Grant of Stormwater Management Easement and Right of Way for Middlebrook Square

 

WHEREAS, the civil engineers prepared a Declaration of Covenants and a Grant

of Stormwater Management Easement and Right of Way for Middlebrook Square; and

 

WHEREAS, counsel for the Housing Opportunities Commission has reviewed

the documents; and

 

NOW, THEREFORE, BE IT RESOLVED by the Housing Opportunities

Commission that the Executive Director, or his designee, is hereby authorized to execute a Declaration of Covenants and a Grant

 

            D.        Authorization for Executive Director to Execute Easement Agreement for Elizabeth House with Alexander House Development Corporation For Emergency Ingress and Egress from Elizabeth House - The following Resolution was adopted:

 

                        RESOLUTION:  2003-42                              RE:     Authorization for Executive

Director to Execute Easement Agreement for Elizabeth House with Alexander House Development Corporation For Emergency Ingress and Egress from Elizabeth House

                                                                       

 

WHEREAS, the County requires that the Silver Spring Regional Senior Center to be constructed at Elizabeth House have a second means of emergency ingress and egress to cross into property owned by Alexander House Development Corporation; and

 

WHEREAS, counsel for the Alexander House Development Corporation has prepared an Easement Agreement.

 

            NOW, THEREFORE, BE IT RESOLVED by the Alexander House Development Corporation that the Executive Director of the Housing Opportunities Commission, or his designee, is hereby authorized to execute an Easement Agreement for Alexander House Development Corporation with Elizabeth House for Emergency Ingress and Egress from Elizabeth House.

 

 

II.        INFORMATION EXCHANGE

 

A.                 Executive Director's Report - Mr. Minton added the following items to his written report.

 

1)   Mr. Minton informed the Commission that the County Department of Health and Human Services has completed program reviews on several Resident Services division’s programs:  Housing Counseling, McKinney III, the Service Linked Housing program at Tanglewood and the three Emergency Assistance programs.  Annual reviews include site visits.  Staff is pleased to report that all programs have been found to be in full compliance.

 

2)   Mr. Minton informed the Commissioners that the Commission on Children and Youth will hold its annual awards ceremony on May 8th.  He stated that Ms. Jerry Matthews, Senior Administrator of Resident Services Programs, will be recognized for her extraordinary contribution to children and youth of Montgomery County.  Mr. Minton noted that during the budget hearing on the Parent Resource Centers, the County Council relied heavily on input from Ms. Matthews.

 

3)      On April 22nd, William Anderson, Procurement Officer, and Gayle Mealy, Buyer,

participated in a small-business fair at HUD headquarters.  The purpose of the fair was to present HUD’s vision for small businesses, HUD’s procurement activities and introduce business opportunities for small business, disadvantaged businesses, minority and / or women owned business, and service disabled owned firms. Approximately 1,000 people attended the event.

 

4)      Mr. Minton informed the Commission that a budget hearing was held earlier that day with the full Council on HOC’s budget requests.  He stated that, at that time, $80,000 is on the reconciliation list for the Family Resource Centers.  There is $12,000 on the reconciliation list to partially underwrite HUD’s community service requirement.  The Parent Resource Centers (PRC) are on the reconciliation list with three options:  keep all five open, keep three open, or keep two open.  He explained that the option of keep all five open was submitted that day by Councilmember Perez. Mr. Minton concluded by stating the outcome will be determined in the coming weeks.

 

 

IMPACT SILVER SPRING

 

                  Ms. Frankie Blackburn and Ms. Robin Racer of Impact Silver Spring gave a presentation on the organization’s role in the community.  Ms. Blackburn stated that the organization was formed to create a community leadership initiative to provide training and support for the diverse members of the Silver Spring community.

 

                  Impact Silver Spring operates four programs.  Ms. Racer spoke about the Community Empowerment and Involvement Program.  This leadership program lasts nine months and is dedicated to building leadership skills and facilitating relationship building in a diverse setting.  Mentoring is also available to assist participants in developing programs in the community.

 

Ms. Blackburn explained that Impact Silver Spring is working with the public schools in Silver Spring to assist with more diverse involvement in the Parent Teacher Associations (PTA).

 

Ms. Blackurn and Ms. Racer outlined several ways that HOC could become involved with Impact Silver Spring.  They stated that they welcomed HOC staff, residents or Commissioners participation in the program.  Also, they offered to assist residents by providing facilitators, staffing or mentorship for them to develop programs and community leadership opportunities.

 

Chair Nelson stated that HOC is involved in a number of projects in Silver Spring and he explained that the presentation has given the Commission and staff some things to discuss. 

 

Commissioner Bennett stated that it would be helpful to understand the community’s perception of HOC.  He stated that it is harder to organize tenants in a community than it is to organize property owners.  He noted that activism in Silver Spring has, for a long time, been dominated by property owners.  He shared his appreciation for Impact Silver Spring’s efforts to broaden the representation of stakeholders. 

 

Commissioner Bennett made several observations and asked for their assistance in informing her members about services provided by HOC such as the Parent Resource Centers and opportunities to bring diversity to the Commission.

 

            B.        COMMISSIONER EXCHANGE

                       

            Vice-Chair Cohen informed the Commission that he attended a recognition dinner for 80 senior residents who volunteer at HOC.  The residents received an award from the Governor’s Office on Community Service and Volunteerism.  The program was held at Arcola Towers on May 6th.  Commissioner Cohen noted that it was very heartwarming to see that, within the elderly community, there are many residents who actively participate in running the buildings.  He stated he remains convinced that, without their help, the resident managers and resident counselors would not be as effective as they are. 

 

On behalf of the Commission, Chair Nelson congratulated Stuart Raynor and Paulette Dudley for their recent Montgomery’s Best Honor Awards. 

 

Chair Nelson informed the Commission that the grand opening of the Georgian Court Community Center was held earlier that day.  He stated that the event was well-attended.  He noted the support HOC has at all levels of government which was evidenced by the attendance of two State Delegates, a representative from Senator Sarbanes’ office, a representative from Congressman Van Hollen’s office and a staff member of the State Department of Housing and Community Development.  Official citations were presented from the State Senate and House of Delegates acknowledging the work of the Agency in opening Georgian Court.

 

Chair Nelson noted that a resident of Georgian Court gave remarks which reflected positively on the work of HOC and experiences in living at Georgian Court.  Mr. Minton noted that the resident allowed attendees to tour her lovely apartment. 

 

 

C.       COMMUNITY FORUM - no comments made.

 

 

III.       COMMITTEE REPORTS

                       

Development and Finance Committee - Commissioner Bennett stated that Middlebrook is slated for renovation which will entail elimination of a small number of units, decreased bedroom counts in a small number of units and construction of a new community building.  He explained that the project was priced by an estimator hired by the architect at $4.5 million.  The only construction bid on the  project was $5.8 million.  

 

Commissioner Bennett explained that, although the item before the Commission on this night pertains to funding the gap in construction pricing for the project, staff is also working to determine why the estimate and the bid were so far out of line with each other.  He pointed out that the project is being re-bid.

 

Earl DeMaris, Chief Financial Officer, introduced Kayrine Brown, Portfolio Manager.  Mr. DeMaris explained that HUD is allowing public housing authorities to essentially sell bonds and receive capital funds up-front.  He further explained that the bonds would be paid by future capital funds.  In an effort to fund the gap, HOC could pledge future capital funds for Middlebrook to raise approximately $2.5 million.  He stated that the bonds would be outstanding for 20 years.

 

Mr. DeMaris stated that Maryland CDA is coordinating the bond issue on behalf of most of the housing authorities in Maryland.  He pointed out that HOC would have to pay fees to CDA.  He stated that CDA’s up-front fee is 150 basis points.  The cost of issuance is spread over several projects.  Mr. DeMaris stated that it is efficient as a bond issue because cost of issuance would be much too large for HOC to do the bond issue on its own.  He stated that staff was seeking Commission approval to proceed.  He pointed out that a final commitment is not needed until June.  However, the County’s endorsement is also needed to proceed.

Commissioner Bennett asked if any excess bond proceeds could be used for other projects.  Ms. Brown explained that funds could not be transferred from one project to another.  Projects must have prior approval from HUD to be included in the bond issue.

 

Mr. Minton explained that $1.5 million has been authorized by the Housing Initiative Fund for Middlebrook.  Mr. Minton stated that HOC could ask for DHCA’s approval to transfer those funds to another project.

 

In response to a question by Commissioner Kator, Mr. Minton explained that the renovation plan is complete; however, the costs have still not been finalized.  Mr. Minton further explained that, after the project has been re-bid, staff will return to the Commission in September with the final cost estimate and bid.  Mr. DeMaris explained that staff is before the Commission at present to meet the State’s deadlines.

 

Commissioner Bennett stated that he would expect the new bids to be returned before September.  Stuart Raynor, Director of Housing Management, stated that the re-bid will take approximately 90 to 120 days. 

 

In response to Mr. Minton’s suggestion about reducing the amount of HIF funds slated for the project, he stated that the Turnkey debt forgiveness could be reduced.  Mr. Minton agreed.  Chair Nelson stated his preference to reduce the Turnkey debt forgiveness.

 

Commissioner Bennett moved to adopt the resolution.  Vice Chair Cohen seconded the motion.  Affirmative votes were cast by Commissioners Thompson, Kator, Galloway, Nelson, Bennett and Cohen.

 

RESOLUTION: 03-43                                               Re:      Authorization to

                                                                                                            Participate in CDA 

                                                                                                            Capital Funding Program

                                                                                                            Bond Issue for

Middlebrook Square Apartments

 

 

            WHEREAS, the feasibility study for the renovation of Middlebrook Square Apartments has been ongoing and anticipates the demolition of eight existing units and the construction of four replacement units; and    

 

            WHEREAS, the total renovation cost was initially estimated at $4,508,923 and later revised to $5,884,410 and, after considering available sources of funds, yielded a financing gap, initially of $1.4 million and revised to $2.8 million; and    

 

WHEREAS, the Development and Finance Committee, at its meeting on March 26, 2003, authorized the use of the OHRF as a source of funding the initial $1.4 million gap; and    

 

WHEREAS, the staff has subsequently identified an alternate source of gap financing and now has the opportunity to participate in CDA’s Capital Fund Securitization Revenue Bond Issue which provides capital funds now but obligates future Capital Program grants from HUD of up to $235,000 annually for 20 years; and

 

WHEREAS, the Development and Finance Committee, on April 29, 2003, authorized staff to continue to participate in the bond issue that would raise $2,500,000 of renovation proceeds plus costs related to the issuance of the bonds; and

 

WHEREAS, there are no risks to the Commission, but the benefits include raising funds for immediate public housing needs and availing the OHRF for use in other affordable housing developments that do not have alternative sources of gap financing.

 

NOW, THEREFORE, BE IT RESOLVED by the Housing Opportunities

Commission of Montgomery County, that it hereby authorizes the staff to proceed with the review and processing of the necessary documents that allows it to raise $2,844,500 as gap financing for the renovation Middlebrook Square Apartments and authorizes the Executive Director to execute loan documents directly related to the transaction.

 

 

Chair Nelson recused himself from the next items before the Commission.  Mr. DeMaris explained that staff was seeking approval of two projects for inducement.  He introduced the developer for both projects, Jeff Kirby.

 

Mr. DeMaris explained that staff is seeking inducements for Randolph Manor and Olney Manor Apartments.  He stated that both developments are 100% affordable and 100% tax credit elderly developments.  He stated that both projects serve a broad and deep public purpose.  Mr. DeMaris stated that staff is enthusiastic about the projects because a lack of bond cap has prevented them from seeking inducements for approximately one year. 

 

In response to a question by Vice-Chair Cohen, Vivian Benjamin, Senior Underwriter, stated that amounts of the bond issues are $5.5 million and $7.2 million for  Randolph Manor and Olney Manor respectively. Mr. DeMaris explained that these projects would not have been brought forward were it not for the additional bond cap provided to HOC by Governor Ehrlich.

 

Commissioner Bennett stated that the projects were brought to the Development and Finance Committee and the Committee was enthusiastic about them.  He noted that the County is short on affordable housing for the elderly and the County Executive has made a commitment to this type of housing.  He noted a study by Sally Roman, formerly of the Park and Planning Commission, which noted that a large number of Montgomery County citizens retire here and these communities will provide older residents with more independent living choices.  Commissioner Bennett noted the County Executive’s support of the properties as evidenced by his commitment of $1.6 million in low income housing tax credits to each of properties.

            Chair Pro Tem Galloway moved to adopt the inducement resolution.  The motion was seconded by Commissioner Kator. Affirmative votes were cast by Commissioners Thompson, Kator, Galloway, Bennett and Cohen.  Chair Nelson did not participate in the vote.

 

 

RESOLUTION:      03-44                                          Re:    Adoption of Inducement

Resolution for Randolph Manor Apartments

                                                                                    

WHEREAS, one of the public purposes of the Housing Opportunities Commission of Montgomery County, ("the Commission") is to promote the construction of and acquisition of multifamily rental housing developments in Montgomery County to be occupied by eligible persons and families; and    

 

WHEREAS, the Commission is authorized to issue tax‑exempt bonds to provide the acquisition, construction and permanent financing for such developments; and    

 

WHEREAS, the Commission has been asked to consider the issuance of tax-exempt bonds to finance the construction and permanent loan for a multifamily rental housing development, Randolph Manor Apartments (an 83 unit development located at 601 East Randolph Road, Silver Spring, Montgomery County, Maryland) which is intended for occupancy in substantial part by eligible persons (the “Project”); and    

 

WHEREAS, the Commission sees this financing arrangement as an opportunity to further its goals in meeting said public purposes.

 

NOW, THEREFORE, BE IT RESOLVED by the Housing Opportunities

Commission of Montgomery County, that it hereby authorizes the staff to proceed with the review and processing of the necessary financing application; and     

 

BE IT FURTHER RESOLVED that it is the intention of the Commission to issue tax‑exempt bonds in the maximum principal amount of $6,050,000 to provide financing for the acquisition, construction, improvement and permanent financing of the development project.  The foregoing represents an expression of intent in order to satisfy the provision of Section 1.150-2 of the United States Income Tax Regulations, and is not a commitment by the Commission to issue said bonds.  Issuance of said bonds shall 1) be at the discretion of the Commission and 2) shall be subject to the final satisfactory underwriting and approval of all documents, provisions, covenants, and all other provisions as may be required by the Commission and 3) shall be subject to final acceptance of same by the Owner of the Project.

 

            Chair Pro Tem Galloway moved to adopt the inducement resolution.  The motion was seconded by Commissioner Kator. Affirmative votes were cast by Commissioners Thompson, Kator, Galloway, Bennett and Cohen.  Chair Nelson did not participate in the vote.

RESOLUTION:  03-45                                              Re:      Adoption of Inducement

Resolution for Olney Manor Apartments                                                       

 

            WHEREAS, one of the public purposes of the Housing Opportunities Commission of Montgomery County, ("the Commission") is to promote the construction of and acquisition of multifamily rental housing developments in Montgomery County to be occupied by eligible persons and families; and    

 

            WHEREAS, the Commission is authorized to issue tax‑exempt bonds to provide the acquisition, construction and permanent financing for such developments; and    

 

            WHEREAS, the Commission has been asked to consider the issuance of tax-exempt bonds to finance the construction and permanent loan for a multifamily rental housing development, Olney Manor Apartments (a 100 unit development located at 18301 Georgia Avenue, Olney, Montgomery County, Maryland) which is intended for occupancy in substantial part by eligible persons (the “Project”); and    

 

            WHEREAS, the Commission sees this financing arrangement as an opportunity to further its goals in meeting said public purposes.

 

            NOW, THEREFORE, BE IT RESOLVED by the Housing Opportunities

Commission of Montgomery County, that it hereby authorizes the staff to proceed with the review and processing of the necessary financing application; and      

 

            BE IT FURTHER RESOLVED that it is the intention of the Commission to issue tax‑exempt bonds in the maximum principal amount of $7,920,000 to provide financing for the acquisition, construction, improvement and permanent financing of the development project.  The foregoing represents an expression of intent in order to satisfy the provision of Section 1.150-2 of the United States Income Tax Regulations, and is not a commitment by the Commission to issue said bonds.  Issuance of said bonds shall 1) be at the discretion of the Commission and 2) shall be subject to the final satisfactory underwriting and approval of all documents, provisions, covenants, and all other provisions as may be requir