Minutes, February 18, 2020
Minutes from the February 18, 2020 Clarksville CDC Monthly Meeting
Board members present: Aly Byatt, Aubrey Carter, BJ Friedman, Malcolm Greenstein, Paula Hern, Kim O’Brien, Mary Reed, and Chris Thomas
Others present: Rose Gabriel
1. On a motion by Aly, seconded by Chris, the minutes from the January 21, 2020 monthly board meeting were approved.
2. Rose and BJ presented the financial report. As of January 31, our checking balance was $8195, savings balance, $127,641. We ended the month with a $3737 net gain. Specifics of the Profit & Loss include: the Donation line item reflects the contribution from OWANA for the holiday caroling event; Repairs includes expenses related to a broken pipe at 1011 Charlotte. Rose reported that the migration to QuickBooks Online was challenging but successful.
3. Rose presented the property management report. All tenants are current on rent. On a motion by Paula, seconded by Aly, the board agreed to lease terms for 1729A W 11th. Rose will send notice. Another tenant has asked for a lease renegotiation based on a change in income. On a motion by Paula, seconded by Chris, the board voted to approve renegotiating the lease, with the new terms effective March 1st.
4. Rose presented a spreadsheet she prepared that shows our tenants’ incomes in relation to the Austin/Travis County median family income (MFI.) Tenants range from 25-55% of MFI, with the average being about 35%. Due to loan restrictions, one CCDC property is restricted to only tenants whose income is at 50% or below. There are no restrictions or requirements on other CCDC properties.
5. On a motion by Aly, seconded by BJ, the Policy and Procedure document was approved.
6. The board discussed the proposed Tenant Rules document. Suggestions will be incorporated and will be voted on via an electronic vote.
7. Rose reported that work has begun at 1611 W. 10th Street, the site of CCDC’s next affordable home. Core samples have been drilled.
8. Rose reported that there was no progress to report regarding the Haskell House repairs. We are awaiting receipt of the grant money.
9. Mary reported that she is having a harder time than usual obtaining sponsors for the May 17th Fun Fest. One long-time sponsor (Zocolo) has closed, others have been slow in responding. She will keep at it.
10. Mary reported on an upcoming tour of the neighborhood and the Haskell House by a group of UT history and archeology graduate students. Ally will accompany the tour to “learn the ropes.”
11. Under Other Business Mary reported that Richard Orton, a documentary filmmaker who is working on a project about Freedom towns in Texas, will be meeting with her, Malcolm, Stephanie Lange, and John Henneberger this month to discuss Clarksville.
12. The board met in executive session to discuss a tenant matter.
Actions taken via Electronic Vote:
· On February 5, 2020, the board voted to approve policies and procedures pertaining to the Tenant Selection Committee. This item had been scheduled for discussion at the January meeting, but there was no time to discuss it. Rather than wait until the February meeting, the board adopted the document via electronic vote.
· On February 9, 2020, the board voted to approve the job descriptions for the CCDC property manager and financial manager. This item was discussed at the January meeting. The approved document includes suggested revisions discussed then. Rather than wait until the February meeting, the board adopted the document via electronic vote.
· On February 14, 2020, the board voted to approve a contract with the City of Austin for funds for repairs to the Haskell House. This money was awarded through the CCDC’s application to the City’s Heritage Tourism program. This matter was time-sensitive and could not wait until the February board meeting.
Minutes From Finance Committee Meeting on February 17, 2020
Attending: Mary Reed, CCDC president, BJ Friedman, CCDC Treasurer and Rose Gabriel, CCDC Financial Manager
Mary Reed and BJ Friedman reviewed the financials for January 2020 and asked Rose Gabriel about anything they did not understand.
BJ compared the CCDC bank statements for January against deposit slips, debits transactions and receipts.
Rose told BJ and Mary that she had finally figured out how to use the online version of QuickBooks and showed them the CCDC’s financial statements will look like now. After briefly looking at QuickBooks online, BJ showed Mary and Rose the sorts of graphics that can be generated for the board and Mary noted that she thought they would be perfect for Rose’s quarterly financial reports.