Return to Minutes Index

FLORIDA ASSOCIATION OF LOCAL HOUSING FINANCE AUTHORITIES QUARTERLY MEETING

Minutes of meeting held January 3, 2008

Present: Gordon Jernigan, President Angela Abbott, Vice President (via telephone) Rodney Fischer, Board Member (via telephone) Patricia Braynon, Board Member (via telephone) John Kopelousos, Board Member (via telephone) W.D. Morris, Board Member (via telephone) Karen Sindel, Executive Director (via telephone)

Others participating: Mark Hendrickson, The Hendrickson Company Wes Wolf, Wolf and Company (via telephone) Debra Dangler, RBC Dain Rauscher (via telephone) David Neuman, Leader Financial (via telephone) Dick Everhart, Leader Financial (via telephone) Debbie Zommermand, Broward County HFA (via telephone) Susan Thorpe, Wells Fargo (via telephone)

The Florida Association of Local Housing Finance Authorities held a quarterly meeting via telephone conference on this 3rd day of January 2008. Mr. Jernigan called the meeting to order at 12:33 p.m. at which time he determined a quorum of the Board was present. Mr. Kopelousos then moved that the minutes from the October 4, 2007 FL ALHFA annual meeting, held in Orlando, FL, be approved. Ms. Abbott seconded the motion which was then passed unanimously. The next item was the presentation of the financial report. Mr. Jernigan presented the financials as follows: checking - $36,726.32; money market savings - $108,440.24; Bank of Pensacola CD - $113,018.89; Gulf Coast Bank Savings - $85,126.36 for a total of $343,311.81. A motion was made by Ms. Braynon, seconded by Mr. Morris and passed unanimously to approve and ratify the financial report. Ms. Sindel then reported on the FL ALHFA membership drive by reviewing those members that have renewed their membership and those that have not. She also reported that many of the corporate/associate members do not send their checks in until after January 1st as they are on a January – December fiscal year. Mr. Hendrickson then presented the legislative update. As part of an economic stimulus package, the Governor took @ $100 million dollars from the housing trust funds. For FY 08-09, Florida Housing Finance Corporation has requested appropriations for housing of $427.65 million including $299.25 million for SHIP. Total housing appropriations for FY 07-08 are $390.8 million including $166.2 million for SHIP. Trust fund balances PLUS the $243 million cap amount that will come into the trust funds during FY 08-09 equal $561.4 million. This is the "full funding" level for FY 08-09. Due to state budget shortfalls, there is strong concern that the housing trust funds will be "raided." Mr. Hendrickson noted that the outlook for 2008 is bleak as financial shortfalls in the state budget leaves even less funds for affordable housing. Moving into 2008, we continue to request a repeal of the cap. Ms. Sindel then discussed the 2008 FL ALHFA Educational Conference. Currently, past sponsors as well as potential new sponsors are being approached by Ms. Sindel and Ms. Elizabeth Feezor of The Bank of New York Trust. The Portofino Bay Resort hotel rooms will be available for reservations in the next couple of months. Ms. Sindel will send out a notice to all attendees providing them with the FL ALHFA Event Code to provide the hotel so that the room rack rate of $179 per night can be obtained. A Program Committee has been formed to develop the agenda and secure the guest speakers for the conference. This committee consists of Phil Harloff, Anthony Jones, Norman Howard, Ben Coney, Mark Packer, Barry Krinsky, Helen Feinberg, and Jim Singh. The first telephone conference for this committee will be held February 8, 2008. The next regular meeting of the FL ALHFA Board of Directors will be July 16,, 2008 during the Educational Conference in Orlando, FL There being no further business the meeting was adjourned at 1:38 p.m.

Return to Minutes Index