2005.06.23 Operational MeetingTrust Fund Operational Meeting
Meeting Notes
June 23, 2005
Present: Jon Hite, Sally Fox, Gerard Hughes, Peg Keller.
Lease Timing Issues/
Trust lease is separate from HG lease time cycle. NHA doing their annual recertifications in February. HG sets annual lease rate in January. If someone recertifies for HG and trust recertification
is not for another 6 months or more, that is a problem. Mr. Hite agreed to do recertifications twice a year. He proposed to recertify half of the tenants in January and the other half
in July.
Hampton Gardens representatives agreed to this proposal.
Discussion followed about what happens when households drop below the trust fund income levels. All agreed that a Section 8 voucher and the Trust Fund would not be used together. Section
8 Program would consider the Trust subsidy additional income. The purpose of the program is to provide rental assistance for those 60% of median income. The lower 20% level is still
over filled and has been since the initial agreement commenced. Therefore, should households drop below or increase above the Trust income levels, alternate arrangements would need
to be pursued. Those exceeding income levels would be eligible to remain and pay market rate rents, if tenancies were in good standing.
The fund is in its 6th year, drawing down roughly 95,000-100,000 annually. Drawdown was 84,000 for 2004-5.
Peg Keller