Board Members Presentothers Presentboard Members Absent

MINUTES

Of The

BOARD OF DIRECTORS

Tuesday, February 5, 2013

BOARD MEMBERS PRESENTOTHERS PRESENTBOARD MEMBERS ABSENT

Russell McCoyGloria J. SaeedMoryah Jackson

Kim Davis Marsheika G. MartinDr. Milton Kimpson

Kyle MichelMadelon Scott Teresa Wilson, Ex-Officio

Wilhemina KimpsonRosalyn BranchCouncilman Brian DeQuincey Newman

Kevin WernerDebra FinchKatheryn Bellfield

Benny Clark

WELCOME AND CALL TO ORDER–Mr. McCoy called the meeting to order at approximately 12:11 p.m.

ADOPTION OF AGENDA – Mr. Michel moved, seconded by Mr. Clark, to adopt the agenda as submitted. The vote in favor was unanimous.

APPROVAL OF MINUTES – January 8, 2013–Mrs. Davis moved, seconded by Mrs. Kimpson, to approve the minutes as submitted. The vote in favor was unanimous.

FINANCIAL REPORT - The financial report was given by Mr. Chuck Statler of Derrick, Stubbs and Stith for the month ending in November 30, 2012 for TN Development Corporation and Ensor Forest. The financial report was accepted with no exceptions.

REPORT OF THE EXECUTIVE DIRECTOR

Property Update - Ms. Madelon Scott, District Manager, gave the following report on vacancies and delinquencies as of January, 2013:

Vacancies Delinquencies

Ensor Forest100%$0

Arbor Hill100%$12.63

Byrnes Place100%$0

Oak Hill97%$208

Forest Oak100%$312

Waters Crest100%$0

Ms. Gloria Saeed, Executive Director, gave the following report:

Lyon Street Development– Staff looked into applying for grant funds through the State Housing Finance and Development Authority and decided not to submit an application at this time due to time constraints. Community Development could assist with loans or grant funding; however, an amount has not been determined at this time. Funds received would be used specifically in Lyon Street.

City Ordinance: Amending Locational Standards for Assisted Housing Policy–A discussion took place regarding the language in the current City’s ordinance related to new construction and development of assisted housing. This ordinance was amended in 1995 and it was suggested that it needs to be updated. This was received as information.

ADJOURNMENT –It was moved and seconded to adjourn the meeting at approximately 12.59 p.m. The vote in favor was unanimous.

Submitted by

Teresa Wilson, Secretary/Treasurer

The minutes were taken by Marsheika G. Martin