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HomeMy WebLinkAbout2-23-2022 Lansing Housing Commission _V �$Qy Lansing Housing COMMISSION 419 Cherry St., Lansing, MI 48933 Telephone: (517)487-6550 Fax: (517)487-6977 Agenda Lansing Housing Commission February 23, 2022 1. Call to Order a. Roll Call b. Approval of Minutes of January 26, 2022 2. Action Items: 3. Informational Items: a. Finance Report January 2022 Steven Raiche b. Housing Choice Voucher January 2022 Jennifer Burnette C. Asset Management Report January 2022 ■ LaRoy Froh &Scattered Sites Marcus Hardy 4. Discussion Items: a. Section 18 Update 5. Other Items: 6. Executive Director's Comments. 7. President's Comments 8. Public Comment— limit 3 minutes per person. 9. Adjournment. TDD/TTY#: 1-800-545-1833 Ext.919 n "Equal Housing Opportunity N Lansing Housing Commission Board Meeting February 23,2022 Agenda Page 1 of 1 V 116 11� '*It Lansing Housing COMMISSION 419 Cherry St., Lansing, MI 48933 Telephone: (517)487-6550 Fax: (517)487-6977 Minutes of January 26, 2021 Commissioner Henry called the meeting to order at 5:34 p.m. Mr. Fleming, called the roll. PRESENT AT ROLL CALL: Commissioners Emma Henry, Don Sober, Loria Hall, Heather Taylor joined at 6:03 pm, Ashlee Barker STAFF: Douglas Fleming Marcus Hardy Kim Shirey Jennifer Burnette Steven Raiche — Contractor Victor Verchereau — Contractor Guests: None Commissioner Barker moved and Commissioner Hall seconded a motion to approve the minutes of the December 20, 2021, commission meeting. The Motion was approved by all members present. Action Items: Resolution 1330 — approval of changes to the Resident Selection Criteria for Capital City Apartments formally known as South Washington. • Doug — Capital City formally known as South Washington used to be a senior building and at some point, it was difficult to rent to seniors only at that time, so they changed their preferences to basically let anyone live there. LHC wants to reinstitute turning the building back into a senior building. This will also alleviate some of the management issues with having 22-year-old individuals and 55- and 60-years old's living in the same building. With the different groups on different schedules with what they are doing. Changing the preference when they come off the waitlist to senior 62+ and senior 50+ will help this. That is why we want to change the tenant selection plan with these preferences. • Commissioner Barker asked once this is instituted would this impact existing residents that live in the building. Answer no it will not. Anyone that does not meet the preference TDDlTTY#: 1-800-545-1833 Ext.919 1 Equal Housing Opportunity" Lan;in Commission Board Meeting February 23.2022 Lansing Housing Commission Minutes January 26,2021 Par%e 1 cf 7 tO � Gy Lansing Housing COMMISSION 419 Cherry St., Lansing, MI 48933 Telephone: (517)487-6550 Fax: (517)487-6977 criteria that is currently living in the building can remain in the building. It is for the waitlist for future move-ins, we will use these preferences. • Commissioner Hall had a concern, it is difficult for seniors to live with 20, 25-year-olds. Is it difficult to just make the building senior? Answer yes, it is. That is why we are doing the preference first. HUD had many steps to go through to make the building a senior building. It is our intention to go through all the steps required from HUD to make the building a senior building. So, for now that is why we want to change the preference so we don't fill the building with a lot of younger people who will get grandfathered in and be able to stay until they move out. Commissioner Barker motioned and Commissioner Sober seconded to approve. Mr. Fleming took a roll call. Commissioner Hall aye, President Henry aye, Commissioner Sober aye. Four ayes and no nays. Additional Action Item — Doug's bonus per his contract. • President Henry — as you all know Doug is serving as a contract employee for LHC and doesn't have the benefits of being a standard W-9 employee. In his contract, he has a bonus arrangement every year by January 31st the Board has to approve that bonus. President Henry motioned and Commissioner Hall seconded a motion to approve the bonus. The Motion was approved by all members present. Informational Items: Finance Report January 2022 Steven Raiche • Steven met with the finance committee (Doug, Emma, and Ashley). In the month of December, we received additional operating money for our LIPH amps this is a year-to- date true-up for an additional allowance from HUD which brought us to 97% of what we budgeted for the calendar year ending December 31. We budgeted 92% in our current year budget. Our year-to-date financials are in good order compared to the budget approved by the Board. • Doug — one of the reasons we moved to RAD is that HUD awards us a certain amount of operational funds every year. They start out at 86% or 87% then they move to whatever budget they have. HUD keeps going back to congress to look at where they TDD/TTY#: 1-800-545-1833 Ext.919 y "Equal Housing Opportunity' Lansing Housing Commission Board Meeting February 23,2022 Lansing Housing Commission Minutes January 26,2021 Page 2 of 7 tO : Qf Lansing Housing COMMISSION 419 Cherry St., Lansing, MI 48933 Telephone: (517)487-6550 Fax: (517)487-6977 are at with their budget during the year at the end of the year, they say we happen to have more funds, so this year public housing authorities are going to give you a few more dollars. It could be 92 cents on the dollar it could be 98 cents on the dollar. There have been years it has been over 100% of what we ask for budget. That happens a lot less frequently. One of the good things about moving to RAD with our properties is that under a HAP contract we get the revenue tied to the actual rents. So, whatever rents we collect every month minus the bad debt that is what our revenue is for the year. So, we control our revenue under that scenario. That is one of the huge advantages of moving to a RAD process. I just want to point out that when Steve says we got extra revenue from HUD in December, that is not unusual, but we never know what that amount is. So, we fly blind basically all year long until HUD tells us how much we will be getting. • President Henry —Ashley, Steve, Doug, and I had a chance to speak to the auditors yesterday and the general understanding and comments were that they were happy with LHC for cleaning up a few things on the books over the past few years. This specific auditor has been working with us as well over the past years we have gone through RAD. It was cleaning up things like our pension liabilities and all other kinds of things we have been involved with. So, the comments were positive, and it looks like we are moving in a good direction. • Steve — We wanted to confirm that we got a clean opinion from Plante Moran which is an external audit. It is always nice to have somebody else look at what we are doing and confirm that the number that you are seeing on a monthly basis is consistent with the way they should be reported. A couple of highlights, we continue to operate in a financially strong position. We can provide a lot of services and still build our cash balances. Some of that does relate to some additional COVID funding that we got last year. We are well-positioned to continue to make the statement and be flexible for the opportunities that come up that align with our mission. Housing Choice Voucher January 2022 Jennifer Burnette Jennifer Burnette provided a brief overview of the January 2022 HCV Reports. • LHC issued ten (10) vouchers in the month of January. We had two (2) VASH orientations virtually were held for the month of January 2022 two (2) vouchers were issued. TDD/TTY#:1-800-545-1833 Ext.919 1121 "Equal Housing Opportunity"L�'1 Lansing Housing Commission 6e..rd P leetin February 22.2!�22 Lansing Housing Commission Minutes January 26,2021 Pa e3of7 1% ■■ ■' 5f, Lansing Housing COMMISSION 419 Cherry St., Lansing, M1 48933 Telephone: (517)487-6550 Fax: (517)487-6977 • Emergency Housing Vouchers: 11 of the 32 Emergency Housing Vouchers have been leased up and are housed, 6 are pending calculation or inspection. We have 15 that are issued and are out searching for housing. • 100 regular HCV Applications mailed out in December are pending return, 56 households are out searching for units, 7 applicants are pending documentation or final approval, 3 applicants are pending a hearing, 6 units approved and pending inspections and 11 pending leased up. Asset Management Report— January 2022 LaRoy Froh (LRF) & Public Housing (PH) Scattered Sites — Marcus Hardy • LRF had an occupancy rate of 89% at the end of January. There was zero (0) move-in, zero (0) move-outs and zero (0) transfer. There are 11 vacant units as they prepare for RAD those units will not be filled. We have a couple of our elderly residents that are in the process of moving to Oliver Gardens. There are 90 open work orders. • Public Housing Scattered Sites had an occupancy rate of 97% at the end of January. There was zero (0) move-in, zero (0) move-outs and zero (0) transfer. There are 9 vacancies. There are 110 open work orders. The majority of those are City Inspection items that are getting ready to be closed. Commissioner Henry asked what the move-in process is like. Is it like we have all these vacant units, and it is a mad dash to fill them or how will we be managing this? Discussion Items: • RAD update —Doug Fleming o Moving forward with the final RAD closing which is LRF is still on schedule for mid to late February. We are creating space for the construction people to do their work. we talked about moving residents off-site so we will have enough space. o Construction has begun at Hildebrandt. We have two vacant buildings and one single-story one-bedroom units. TDD/TTY#: 1-800-545-1833 Ext.919 112t 'Equal Housing Opportunity"' I y.l Lansing Housing Commission Ec.a Mee[ing February-,3.2022 Lansing Housing Commission Minutes January 26,2021 Gaze 4 of 7 tO : Gy Lansing Housing COMMISSION 419 Cherry St., Lansing, MI 48933 Telephone: (517)487-6550 Fax: (517)487-6977 o Waverly Place construction will be done around June 1st. Capital City will hopefully be done by the end of 2022 around November or December. Hildebrandt and LaRoy Froh will be into 2023 before construction will be done. o Another major milestone at Capital City is they are starting construction on the new offices that will be in the front of the building which will change the look of the front of the building. o Oliver Gardens is moving through an April submission for tax credits to do a full renovation. They are also looking into adding a three-story building in Oliver Gardens to add 30 additional units. Other Items: a. Long Range Planning — Doug Fleming o We have a date of the next long-range planning. It will be held at 419 Cherry on February 15. Executive Director's Comments: Activities Capital Projects • Looking into development options for Oliver Gardens (30 units) to renovate and potentially add units. Looking to submit tax credit for this project in April RAD Activities • LaRoy Froh will be closing February 2022 Other Activities • Union negotiations — Finalizing contract. • We will be moving back in COCC around February 15. • Moving forward on the Holy Cross grants we will be making an evaluation on whether we want to maintain those grants or apply for those grants long term. The first grant renews either June or July of this year and the 4 grants that we had in total one in June one in July and two in August. We are trying to make a financial evaluation as we have taken those over and trying to9 work them to see if we can maintain them long term. We TDDlTTY#:1-800-545-1833 Ext. 919 121 "Equal Housing Opportunity" Lansing Housing Commission Board Meeting February 23,2022 Lansing Housing Commission Minutes January 26,2021 Fate 5 of 7 Y:: 11' Gy Lansing Housing COMMISSION 419 Cherry St., Lansing, MI 48933 Telephone: (517)487-6550 Fax: (517)487-6977 are tracking them financially on their own so we will have a clear picture of where the grants are and what the possibilities are as we move forward with them. • Finalize the memorandum of understanding of up to $100,000 that we committed with Capital Area Housing Partnership to support the HARA and some of the other activities that were being provided by Holy Cross. • Sent the RFP out for the scattered houses. We have had a second meeting with the top bidder. At this point, it is a very fair offer for the houses that they are interested in buying is in excess of 15 million dollars to the agency. We are still doing our due dalliance. They are interested in having us continue to manage the properties after they purchase them. That is something we are evaluating. They will provide the capital. They have worked with the Pontiac housing authority. I will be making an in-person visit to talk to the executive director and ask him about his experience and how they worked not only in purchasing the homes from them and how they worked in supporting them. Pontiac is managing their scattered-site portfolio as well for this group. It would be a very similar modal which is why I am interested in talking to him and seeing how that whole experience down there and who they feel about it. The group is very well capitalized which is great. They have a total commitment to keeping the units affordable. We will provide the section 18 vouchers for the folks that are living there so they will not have to move. There will be little disruption to the residents in scattered housing. Other Items: none President's Comments: • Audit time in January is always a time to start thinking about what has happened in the last year. If you look at the numbers, it has been crazy even though we have been in a pandemic, and we haven't actually seen each other. We have brought on a couple of new commissioners that have never met and still been able to get a lot done through this group. Great work to everyone involved on the Board, staff, and Doug included, and looking forward to where we can go in the next 12 months. Who knows what we can accomplish next? • Heather Taylor had a question about Doug's report. With regards to the scattered sites, what is the advantage to us to continue to manage them? Answer— Doug — it would be a solid cash flow that we get for a management fee. We are pretty good at moving people in and getting rid of residents that shouldn't be there. That is kind of our core business that we have done forever and ever. It provides us with a really nice solid cash flow month to month to support all the other activities that we do. The management fee is fair. We feel like with the amount of the management fee that they pay, that with the staff levels that we need to get the job done because of our efficiency and effectiveness it will be a little profit center and will be steady income every month. The reason that we don't want the houses and a big reason why we have entered into section18 is that the TDDrrTY#:1-800-545-1833 Ext.919 n Equal Housing Opportunity"I�� Lansing Housing Commission E; Ing February 23,2022 Lansing Housing Commission Minutes January 26,2021 Page 6 of 7 -V Gy Lansing Housing COMMISSION 419 Cherry St., Lansing, MI 48933 Telephone: (517)487-6550 Fax: (517)487-6977 capital needs of the houses are extensive. It was very difficult to maintain houses at the level that they did. Public Comment: limit 3 minutes per person Other Business: none Adjournment: The meeting was adjourned at 6:19 p.m. Date 2-/2-3 12022 Emma Henry Board C air Date Z�z3 Zo� t ou ming, A ing Sec tary TDD/TTY#: 1-800-545-1833 Ext.919 Equal Housing Opportunity"® Lansing Housing Commission Minutes January 26,2021 PaEe 7 o1 7 Lansing Housing Commission Summary Results for January FY2022 Description LIPH Total COCC HCV Admin HCV BA REVENUE: Total Revenue Variance-Fav(Unfav) 111,354 (37,180) 18,875 15,686 - Tenant Revenue Variance 3,837 - - HUD Revenue Variance 93,019 6,678 2,126 14,903 - Capital Fund Income 18,355 - -Other Income (3,857) (43.858) 16,749 783 Other Budgeted Revenue 169,150 82,625 90,SS2 965,550 - %Variance fav(unfav) 66% 45% 21% 21% 0% EXPENSES: Total Expense Variance Unfav(Fav) 82,770 45,070 15,991 (47,685) 40 Salary Expenses 22,049 (25,904) 4,525 - Employee Benefit Expenses 20,589 (8,718) 5,037 Utilities (10.620) (1,478) - - - Write-offs (240) - - - - Legal (1,500) (270) - - Professional Services 4,487 1,060 (742) - - Admin Services 3,000 66,493 297 - - Insurance 7,038 9S8 911 - 40 Sundry/Postage/Office Supplies (4,561) 11,261 (507) - - Management Fee 5,461 - 426 - - HAP Expense - - (47,685) Inspections - 137 - Pilot 7,069 - - Maintenance Costs 24,748 4,585 - Maintenance Contract•Unit Turns (1,280) Other 6.529 (2,916) 5,906 (0) Budgeted Expense 336,417 103,229 81,924 965,000 - 'A Variance fav(unfav) .25% -44% -20% S% D*A Gain(Lon)on Sale of Assets - - - Curr Mo.Actual Net Income(Loss) $ 61,462 $ (102,853) $ 11,512 $ 63,921 $ (40) YTD Actual Net Income(Loss)Net of CWIP $ 648,967 $ (190,017) $ (130,324) $ (212,892) $ 321,723 Prior YR YTD Net Income(Loss) S 1,872378 $ 520,351 $ 205.418 $ 8,377 $ 8,805,123 Cash Balance-January S 2,902,983 S 1,663,669 $ 977,030 S 402,493 S 715,336 $2,766,800 Cash Balance-December S 2,781,553 S 1,912,258 S 886,887 $ 335,327 $ 715,336 $2,759,313 Cash Balance-June 2021 S 1,916,110 S 2,350,385 5 1,119,729 $ 465.867 S 393,609 5 2.304,225 Cash Balance-June 2020 S 2,579,975 S $56,102 S 827,066 S 496344 C:\Users\Stevenr\Box\My Box Files-Steven Raiche\My Box Files-Dawn Allman\Board Documents\Board Meeting 2201\Summary 2201\Summary MTD 2/18/2022 5:29 AM Lansing Housing Commission Summary Results YTD for January FY2022 Description LIPH Total COCC HCV Admin HCV BA REVENUE: Total Revenue Variance-Fav(Unfav) 1,204,407 (131,340) (20,263) (352,616) 88,991 Tenant Revenue Variance 39,531 - - - - HUD Revenue Variance 554,164 24,386 (53,519) (358,128) - Capital Fund Income 623,458 - -Other Income (12,746) (155,725) 33,256 5,512 98,991 Other - - - - (10,000) Budgeted Revenue 2,603,169 574,686 611,916 6,758,850 5,764,775 %Variance fav(unfav) 46% -23% -3°6 -5% 2% EXPENSES: Total Expense Variance Unfav(Fav) 654,110 (80,177) 43,710 (135,874) 2,044 Salary Expenses 74,768 (91,722) 9,948 - - Employee Benefit Expenses 64,746 (55,617) 11,746 - - Utilities 74,399 (7,447) (411) - - Write-offs (7,490) - - - - Legal (9,457) (1,102) - - - Professional Services 90,708 12,657 16,238 - Admin Services 7,000 39,463 - - 1,670 Insurance 40,479 (3,437) 1,066 - - Sundry/Postage/Office Supplies 10,206 7,054 16,904 - - Management Fee 30,883 - (10,703) - 374 HAP Expense 145,394 - - (135,874) - Pilot 21,331 - - - - Inspections 1,860 400 (7,245) - - Maintenance Costs 145,273 15,216 435 - Maintenance Contract-Unit Turns (44,165) - - - Other 8,175 4,360 5,733 - - Budgeted Expense 2,210,311 713,540 678,267 6,755,000 30,000 %Variance fav(unfav) -30% 11% -6% 2% -7% Gain(Loss)on Sale of Assets - - - - 2,215,454 YTD Actual Net Income(Loss)Net of CWIP $ 773,941 $ (190,017) $ (130,324) $ (212,892) $ 321,723 YTD Budgeted Net Income(Loss) $ 359,980 $ (138,854) $ (66,351) $ 3,850 $ 234,775 Prior YR YTD Net Income(Loss) $1,872,778 $ 520,351 $ 205,418 $ 8,377 $ 240,123 C:\Users\Stevenr\Box\My Box Files-Steven Raiche\My Box Files-Dawn Allman\Board Documents\Board Meeting 2201\Summary 2201\SummaryYTD 2/18/2022 5:29 AM January Ratios HCV Ratios Prior Months Number of Vouchers Used 1,678 12/21 $ 592.25 HCV 8002 Expenses $ 915,340.18 11/21 $ 566.41 Average Cost Per Voucher $ 545.49 10/21 $ 543.62 LIPH Ratios Prior Months January2022 PYJanuary Year-to-Date Occupancy Rate Total Total YTD Average Number of Units Leased 383 797 12/21 94.61A Numberof Possible Units 407 833 11/21 94.11A Year-to-Date Occupancy Rate 94.1% 95.7% 10/21 94.51A Average Revenue Per Occupied Unit 12/21 S 1,207.93 Total UPH Revenue 5 280,503.86 $ 501,432.82 11/21 $ 567.85 Average Revenue Per Occupied Unit $ 395.63 $ 629.15 10/21 $ 530.95 Average Tenant Revenue Per Occupied Unit 12/21 $ 70.50 Total Tenant Revenue 5 25.668.00 $ 111,258.00 11/21 $ 82.82 Average Tenant Revenue Per Occupied Unit $ 67.02 $ 139.60 10/21 $ 100.57 Average Cost Per Occupied Unit 12/21 $ 523.14 YTD Average Monthly Expenses $ 409,202.90 $ 493,957.09 11/21 $ 459.92 Average Cost Per Occupied Unit $ 577.16 $ 619.77 10/21 $ 413.79 Company Ratios Operating Reserves UPH COCC HCV Admin Bank Account Balance 5 2,902,888.38 5 1,663.669.12 5 977,029.68 YTD Expenses 5 2,864,420.27 5 633,363.34 $ 721,977.13 Number of Months 7 7 7 Average Monthly Expenses $ 409,202.90 $ 90.480.48 5 103.139.59 Number of Months of Operating Reserves)would like to have 4 months of operating reserves) 7.09 18.39 9.47 Prior Months 12/21 7.48 23.65 8.53 11/21 6.92 20.82 10.63 06/21 4.58 18.52 13.62 06/20 5.62 14.23 11.20 06/19 4.19 17.81 7.12 C:\Users\Stevenr\Box\My Box Files-Steven Raiche\My Box Files-Dawn Allman\Board Documents\Board Meeting 2201\5ummary 2201\Ratios AO 2/18/2022 5:29 AM Lansing Housing Commission Budget vs.Actual AMP Consolidated For the Period Ending January 31,2022 YTD Amount YTD Budget YTD Variance Prior YTD Actual Annual Budget Remaining Budget Tenant Rental Revenue $ 2 66,161 $ 2 66,630 S 39,531 $ 645.586 $ 365,785 $ 109.155 Tenant Revenue-Other 16.667 18,668 (2,001) 42.906 30,180 11.513 Total Tenant Revenue $ 312,828 $ 2 55.298 S 37,531 $ 688,492 $ 395.965 S 120.668 HUD PHA Operating Grants 2,855,214 2,198,393 656,822 3,292.783 3,013,536 815.143 CFP Operational Income 701,528 - 701,528 1.043.394 Fraud Recovery and Other 2,231,529 13,476 2,218,054 (2,280,621) 29,667 16.192 Total Operating Revenue $ 6,1 11,100 $ 2 9898.328 $ 3,602,772 $ 2.744,048 $ 3,460.687 $ 963,449 Administrative Salaries $ 142,941 $ 122.586 $ 20,355 S 249,639 S 181.251 $ 58,665 Auditing Fees 20,000 22.990 (2,990) 21,000 22.990 - Management Fees 168,693 137,810 30,883 722,369 213.107 75.296 Bookkeeping Fees 23,747 19.920 3,827 51,630 30,795 10.875 Employee Benefits Contributions-Administrative 41,783 64,312 (12,529) 92,185 60,537 26,225 Office Expenses 68,326 64,380 3,946 99,996 84,482 20.102 Legal Expense 10,043 19,500 (9,457) 29,809 27,000 7,500 Travel 107 - 107 - - - Other 7,468 4,050 3,418 19,110 7,500 3,450 Tenant Services-Other 18.243 10,800 7,443 14,687 10.800 - Water 113,446 70,383 43,D62 288.665 82.167 11.783 Electricity 46.143 26,975 19,168 141.889 27,600 625 Gas 41.292 17,108 24,184 76.230 27.515 10,407 Other Utilities Expense 21.949 33,965 (12,016) - 34.215 250 Ordinary Maintenance and Operations-Labor 153,321 98,909 54,412 203.176 139.004 40,095 Ordinary Maintenance and Operations-Material 89,400 55,140 34,260 90.507 59,340 4,200 Ordinary Maintenance and Operations-Contrac 311.940 236,075 75,865 446,084 349,890 113,815 Employee Benefits Contributions-Ordinary 158,544 81,269 77,275 161,026 117,604 36,335 Protective Services-Other Contract Costs 5,109 2,635 2,474 8,993 2,635 Property Insurance 91,041 66,817 24,225 121.880 103,470 36,654 Liability Insurance 30,689 24,623 6,066 47.118 38,322 13,699 Workers Compensation - - - - AII Other Insurance 34,687 24,498 10,189 18.555 32,568 8,070 Other General Expenses 106,341 15,634 90,708 136.507 23,714 8,080 Compensated Absences Payments in Lieu of Taxes 34.067 12,736 21,331 15.021 20,870 8,134 Bad debt-Tenant Rents 7,310 14,800 (7,490) 20,890 19,800 5,000 Interest Expense - 65,042 Total Operating Expenses $ 1.7 66.632 $ 1, 337,916 $ 508.716 S 3,141.408 $ 1, 337.176 $ 499,260 Net Income(LOSS) $�4 354.468 S 1,260.412 $ 3.094.056 $ (397,360) $ 1,723,511 $ 464,189 Lansing Housing Commission Budget vs.Actual COCC For the Period Ending January 31,2022 YTD Amount YTD Budget YTD Variance Prior YTD Actual Annual Budget Remaining Budget Management Fees Income $ 280,373 $ 624.009 $ (343,636) S 839.437 S 889,866 $ 165,857 Bookkeeping Fees Income 23,747 19,925 3,822 51,629 30,805 10,880 Administrative Fees 71,045 250.452 (179,407) - 469,742 219.290 Fraud Recovery and Other 68,181 44,500 23,681 48,382 62,000 17,500 Total Operating Revenue $ 443,347 $ 938,886 S (495.540) S 939,448 $ 1,352,413 S 413.527 Administrative Salaries S 138,673 S 174,611 S (35.938) $ 105,079 $ 304,896 $ 130,285 Auditing Fees 7,000 5,665 1,335 5,250 5,665 - Employee Benefits Contributions -Admin 42,233 71,405 (29,172) 29,744 121,355 49,950 Office Expenses 45,319 273,881 (228,562) 33,222 490,752 216,871 Legal 2,398 3,500 (1,102) 3,384 6,000 2,500 Travel 1,721 - 1,721 - - Other 30,410 12,852 17,558 18,450 25,834 12,982 Tenant Services-Other 4,944 - 4,944 - - - Water 707 1,249 (542) 800 2,185 936 Electricity 4,924 11,500 (6,576) 7,306 19,200 7,700 Gas 642 1,195 (553) 920 2,820 1,625 Other Utilities Expense 504 280 224 337 480 200 Ordinary Maintenance and Operations-Labor 30,086 84,870 (54,784) 159,240 74,370 Ordinary Maintenance and Operations-Material 326 3,200 (2,874) 1,260 4,400 1,200 Ordinary Maintenance and Operations-Contracts 24,419 8,660 15,759 11,421 15,010 6,350 Employee Benefits Contributions -Ordinary 10,569 34,001 (23,432) - 64,121 30,120 Protective Services-Other Contract Costs - 500 (500) 878 800 300 Property Insurance 4,679 3,609 1,070 1,288 3,609 - Liability Insurance 952 1,393 (441) 113 1,393 Workers Compensation - - - - AII Otherinsurance 334 4,400 (4,066) 4,400 4,400 Other General Expenses 282,524 16,769 265.755 194,509 28,044 11,275 Compensated Absences - - - - - - Interest Expense - - 738 - - Total Operating Expenses $ 633,363 $ 713,540 S (80,177) S 419,099 $ 1.260,204 S 546,664 Net Income(Loss) $ (190,017) $ 225,346 $ (415,363) $ 520.349 $ 92,209 Lansing Housing Commission Budget vs.Actual Housing Choice Voucher For the Period Ending January 31,2022 YTD Amount YTD Budget YTD Variance Prior YTD Actual Annual Budget Remaining Budget HUD PHA Operating Grants $ 6 5555,269 $ 7,366,916 $ (411.647) $ 7,389.412 $ 12,646,676 $ 5,279.760 Other Revenue 24,305 - 24,305 342 - - Fraud Recovery and Other 18,313 3,850 14.463 9,434 6,600 2,750 Total Operating Revenue $ 6,997,867 $ 7,370,766 $ (372,879) S 7.399.189 $ 1246539276 $ 5,282.510 Administrative Salaries $ 283,140 $ 273,192 $ 9,948 S 217,614 $ 441,982 $ 168,790 Auditing Fees 25,000 28,875 (3,875) 26,250 28,875 - Management Fees 111,680 122.383 (10.703) 117,068 213,335 90,952 Bookkeeping Fees - - - - - - Employee Benefits Contributions -Admin 81,433 72.903 8.530 50,803 117,628 44,725 Office Expenses 142,743 114,381 28,362 108,261 155,742 41,361 Legal Expense - - - - - - Travel 1,208 - 1,208 - - Other 158 35,000 (34.842) - 60,000 25,000 Tenant Services-Other - - - - Water Electricity Gas - - - - Other Utilities Expense 89 500 (411) 668 1,000 500 Ordinary Maintenance and Operations-Materi< - - - - Ordinary Maintenance and Operations-Contra 28,190 28.190 50,627 - Protective services-Other Contract Costs - - 269 Property Insurance - - - - Liability Insurance 16,596 12,375 4.221 9,242 21,450 9,075 Workers Compensation - - - - - - AII Other Insurance 1,245 4,400 (3,155) - Other General Expenses 30,496 14.258 16,238 11,098 24,818 10,560 Compensated Absences - - - - Housing Assistance Payments 6,619,126 6,755,000 (135.874) 6,593,435 11,580.000 4,825,000 Bad Debt-Tenant Rents - - - Inlerest Expense - - Total Operating Expenses $ 7,341,103 $ 7.433.267 $ (92,164) $ 7,185,335 $ 12,644,830 $ 5,211,563 Net Income(Loss) $ (343,216) $ (62,501) $ (280,716) $ 213,854 $ 8,446 $ 70,947 Lansing Housing Commission 1010 Mt.Vernon Park Balance Sheet for January 2022 Period Amount Balance ASSETS 1010-0000-111102 Cash-Security Deposits - 10,200.30 1010-0000-111111 Chase Checking (51.719.27) 654,690.80 1010-0000-112200 Accounts Receivable 1,440.00 3,495.00 1010-0000-112201 Allowance for Doubtful Accounts (213.71) (349.50) 1010-0000-112220 AIR Repayment Agreement - 1010-0000-112500 Accounts Receivable HUD - 1010-2010-112500 Accounts Receivable HUD - - 1010-0000-112954 Accounts Receivables-Misc - 2,267.25 1010-0000-114500 Accrued Interest Receivable - 55.29 1010-5005-115700 Intercompany 61,480.68 (9,130.59) 1010-0000-116201 Investments Savings - 74,168.03 1010-0000-121100 Prepaid Insurance (2,197.02) 15,452.46 1010-0000-140000 Land 114,150.00 1010-0000-144000 Construction in Progress 6,053.00 1010-3000-144000 Construction in Progress - 53,314.39 1010-0000-146000 Dwelling Structures - 2,567,885.60 1010-1010-146000 Dwelling Structures - - 1010-0000-146500 Dwelling Equipment-Ranges& - 20,325.87 1010-1010-146500 Dwelling Equipment-Ranges& - - 1010-3000-146500 Dwelling Equipment-Ranges& - - 1010-0000-148100 Accumulated Depreciation-Build - (2,355,778.23) 1010-1010-148100 Accumulated Depreciation-Build - - 1010-1010-148300 Accumulated Depreciation-Equip - - 1010-0000-150300 Deferred Outflow-MERS - 359,796.50 1010-0000-150301 Deferred Outflows-OPEB - 13,185.00 TOTAL ASSETS 8,790.68 1,529,781.17 LIABILITIES 1010-0000-200000 OPEB Liability - 10,413.00 1010-0000-200300 Pension Liability 227,551.00 1010-0000-210000 Construction Costs Payabe - 1010-0000-211100 Accounts Payable (1,975.78) 291.42 1010-0000-211343 Accounts Payable Misc - - 1010-0000-211400 Tenant Security Deposits - 10,200.30 1010-0000-211999 Tenant Refunds 296.00 11,213.50 1010-0000-212000 Accrued Payroll - 2,422.62 1010-0000-213400 Utility Accrual 321.00 1010-0000-213500 Accrued Comp Absences-Curr - 762.56 1010-0000-213700 Payment in Lieu of Taxes 1.040.59 15,015.15 1010-0000-214000 Accrued Comp Absences-non curr - 4,320.59 1010-0000-260600 Note Payable Non Curr-PNC - 1010-0000-260601 Note Payable-Curr-PNC - 1010-0000-210000 Deferred Inflow-MERS 62,251.00 1010-0000-210001 Deferred Inflows-OPEB 50,958.00 1010-0000-270000 Deferred Inflows - - TOTAL LIABILITIES (639.19) 395,720.14 EQUITY 1010-0000-280100 Invest C - 2,433,904.00 1010-0000-280500 Unrestricted Net Assets - 801,692.03 1010-0000-282000 Income and Expense Clearing 9,429.87 (4,119,035.89) 1010-0003-282000 Income and Expense Clearing - (77.99) 1010-1010-282000 Income and Expense Clearing - (320.14) 1010-1010-282000 Income and Expense Clearing - (72,265.80) 1010-2010-282000 Income and Expense Clearing - (75.00) 1010-3000-282000 Income and Expense Clearing - 2,090,239.82 TOTAL EQUITY 9,429.87 1,134,061.03 TOTAL LIABILITES&EQUITY 8,790.68 1,529,781.17 Lansing Housing Commission 1020 Hildebrandt Park Balance Sheet for January 2022 Period Amount Balance ASSETS 1020-0000-111102 Cash-Security Deposits - 36,398.00 1020-0000-111111 Chase Checking 47,882.34 700,681.96 1020-0000-112200 Accounts Receivable 4,683.00 12,126.00 1020-0000-112201 Allowance for Doubtful Accounts (1,491.40) (1,212.60) 1020-0000-112220 AIR Repayment Agreement - - 1020-0000-112500 Accounts Receivable HUD - - 1020-2010-112500 Accounts Receivable HUD - - 1020-0000-114500 Accrued Interest Receivable - 55.29 1020-5005-115700 Intercompany (1,534.64) (25,367,87) 1020-0000-116201 Investments Savings - 74,168.04 1020-0000-121100 Prepaid Insurance (7,770.96) 54,744.57 1020-0000-140000 Land - 348,580.00 1020-0000-144000 Construction in Progress - 52,892.89 1020-3000-144000 Construction in Progress - 139,560.88 1020-0000-146000 Dwelling Structures - 2,745,252.13 1020-1020-146000 Dwelling Structures - 115,030.00 1020-0000-146500 Dwelling Equipment-Ranges& - 35,085.00 1020-1020-146500 Dwelling Equipment-Ranges& - 21,635.00 1020-0000-148100 Accumulated Depreciation-Build - (2,738,837.02) 1020-1020-148100 Accumulated Depreciation-Build - (51,897.16) 1020-1020-148300 Accumulated Depreciation-Equip - (9,758.67) 1020-0000-150300 Deferred Outflow-MERS - 313,828.50 1020-0000-150301 Deferred Outflows-OPEB - 6,902.00 TOTAL ASSETS 41,768.34 1,829,866.94 LIABILITIES 1020-0000-200000 OPEB Liability - 5,450.00 1020-0000-200300 Pension Liability - 190,560.00 1020-0000-210000 Construction Costs Payabe - - 1020-0000-211100 Accounts Payable 3,262.30 3,670.90 1020-0000-211343 Accounts Payable Misc - - 1020-0000-211400 Tenant Security Deposits - 21,177.00 1020-0000-211999 Tenant Refunds (640.00) 18,039.71 1020-0000-212000 Accrued Payroll - 9,930.43 1020-0000-213400 Utility Accrual - 25,624.00 1020-0000-213500 Accrued Comp Absences-Curr - 2,296.44 1020-0000-213700 Payment in Lieu of Taxes 4,499.21 25,701.88 1020-0000-214000 Accrued Comp Absences-non curr - 13,013.16 1020-0000-260600 Note Payable Non Curr-PNC - - 1020-0000-260601 Note Payable-Curr-PNC - - 1020-0000-210000 Deferred Inflow-MERS - 52,132.00 1020-0000-210001 Deferred Inflow-OPEB - 26,675.00 1020-0000-270000 Deferred Inflows - - TOTAL LIABILITIES 7,121.51 394,270.52 EQUITY 1020-0000-280100 Invest C - 3,764,889.00 1020-0000-280500 Unrestricted Net Assets - (35,006.10) 1020-0000-282000 Income and Expense Clearing 34,646.83 (4,596,520.00) 1020-1020-282000 Income and Expense Clearing - (162,850.00) 1020-2010-282000 Income and Expense Clearing - (56.25) 1020-3000-282000 Income and Expense Clearing - 2,465,139.77 TOTAL EQUITY 34,646. 33 1,435,596.42 TOTAL LIABILITES&EQUITY 41,768.34 1,829,866.94 Lansing Housing Commission 1080 LaRoy Froh Townhomes Balance Sheet for January 2022 Period Amount Balance ASSETS 1080-0000-111102 Cash-Security Deposits - 40,398.00 1080-0000-111111 Chase Checking 101,997.94 975,342.94 1080-0000-112200 Accounts Receivable 501.87 19,973.21 1080-0000-112201 Allowance for Doubtful Accounts 381.15 (1,997.32) 1080-0000-112220 A/R Repayment Agreement (12.00) - 1080-0000-112500 Accounts Receivable HUD - - 1080-2010-112500 Accounts Receivable HUD - - 1080-0000-112954 Accounts Receivables-Misc 3.225.00 3,225.00 1080-0000-114500 Accrued Interest Receivable - 55.29 1080-5005-115700 Intercompany 11,566.75 (12,294,69) 1080-0000-116201 Investments Savings - 74,168.03 1080-0000-121100 Prepaid Insurance (8,089.86) 57,062.68 1080-0000-140000 Land - 499,084.00 1080-0000-144000 Construction in Progress (81,664.76) 30,072.28 1080-3000-144000 Construction in Progress 8,418.38 279,684.12 1080-0000-146000 Dwelling Structures - 12,792,393.80 1080-1080-146000 Dwelling Structures - 520,795.00 1080-0000-146500 Dwelling Equipment-Ranges& - 51,291.24 1080-0000-148100 Accumulated Depreciation-Build - (10,456.604.44) 1080-1080-148100 Accumulated Depreciation-Build - (234,955.00) 1080-0000-150300 Deferred Outflow-MERS - 383,188.50 1080-0000-150301 Deferred Outflows-OPEB - 11,114.00 TOTAL ASSETS 36,324.47 5,031,996.64 LIABILITIES 1080-0000-200000 OPEB Liability - 8,776.00 1080-0000-200300 Pension Liability - 246,376.00 1080-0000-210000 Construction Costs Payabe - - 1 080-0000-21 1 1 00 Accounts Payable 5,331.22 7,584.52 1080-0000-211343 Accounts Payable Misc - - 1080-0000-211400 Tenant Security Deposits - 39,053.00 1080-0000-211999 Tenant Refunds 4,620.00 24,194.51 1080-0000-212000 Accrued Payroll - 9,503.77 1080-0000-213400 Utility Accrual - 13,941.00 1080-0000-213500 Accrued Comp Absences-Curr - 1,104.85 1080-0000-213700 Payment in Lieu of Taxes 2,257.41 12,885.77 1080-0000-214000 Accrued Comp Absences-non curr - 6,260.81 1080-0000-260600 Note Payable Non Curr-PNC - - 1080-0000-260601 Note Payable-Curr-PNC - - 1080-0000-210000 Deferred Inflow-MERS - 67,401.00 1080-0000-270000 Deferred Inflows - - TOTAL LIABILITIES 12.208.63 437,081.23 EQUITY 1080-0000-280100 Invest C - 4,031,104.00 1080-0000-280500 Unrestricted Net Assets - 134,241.63 1080-0000-282000 Income and Expense Clearing 24,115.84 (1,268,629.00) 1080-1080-282000 Income and Expense Clearing - (96,075.00) 1080-2010-282000 Income and Expense Clearing - (56.25) 1080-3000-282000 Income and Expense Clearing - 1,794,330.03 TOTAL EQUITY 24,115.84 4,594,915.41 TOTAL LIABILITES&EQUITY 36,324.47 5,031,996.64 Lansing Housing Commission 1090 South Washington Park Balance Sheet for January 2022 Period Amount Balance ASSETS 1090-0000-111102 Cash-Security Deposits - 1,777.00 1090-0000-111111 Chase Checking 20,164.57 572,172.68 1090-0000-112000 Accounts Receivable-Operations - 33,093.00 1090-0000-112200 Accounts Receivable - 3,439.60 1090-0000-112201 Allowance for Doubtful Accounts 290.93 (343.96) 1090-0108-112201 Allowance for Doubtful Accounts - - 1090-0000-112220 A/R Repayment Agreement - 1090-0000-112500 Accounts Receivable HUD - 1090-2010-112500 Accounts Receivable HUD - 1090-0000-114500 Accrued Interest Receivable - 55.29 1090-5005-115700 Intercompany (17,575.91) (11,890.78) 1090-0000-116201 Investments Savings - 74,168.03 1090-0000-121100 Prepaid Insurance (664.60) 5,122.50 1090-0000-140000 Land 36,534.00 1090-0000-144000 Construction in Progress - 3,650.00 1090-3000-144000 Construction in Progress - 72,259.90 1090-0000-146000 Dwelling Structures - 288,076.96 1090-1090-146000 Dwelling Structures - - 1090-0000-146500 Dwelling Equipment-Ranges& - 2,558.79 1090-0000-147000 Nondwellin Structures - - 1090-0000-148100 Accumulated Depreciation-Build - (281,631.86) 1090-1090-148100 Accumulated Depreciation-Build - - 1090-0000-150300 Deferred Outflow-MERS - 359,216.50 1090-0000-150301 Deferred Outflows-OPEB - 6,866.00 TOTAL ASSETS 2,214.99 1,165,123.65 LIABILITIES 1090-0000-200000 OPEB Liability - 5,422.00 1090-0000-200300 Pension Liability 227,085.00 1090-0000-210000 Construction Costs Payabe - - 1090-0000-211100 Accounts Payable 817.45 1,634.65 1090-0000-211343 Accounts Payable Misc - - 1090-0000-211400 Tenant Security Deposits 1,777.00 1090-0000-211999 Tenant Refunds (1,015.00) 2,087.00 1090-0000-212000 Accrued Payroll 11,586.49 1090-0000-213400 Utility Accrual 160.00 1090-0000-213500 Accrued Comp Absences-Curr - 3,591.55 1090-0000-213700 Payment in Lieu of Taxes 724.26 (1,107.77) 1090-0000-214000 Accrued Comp Absences-non curr - 20,352.10 1090-0000-260600 Note Payable Non Curr-PNC - 1090-0000-260601 Note Payable-Curr-PNC - 1090-0000-210000 Deferred Inflow-MERS 62,123.00 1090-0000-210001 Deferred Inflow-OPEB - 535.00 1090-0000-270000 Deferred Inflows - TOTAL LIABILITIES 526.71 335,246.02 EQUITY 1090-0000-280100 Invest - 3,083,846.00 1090-0000-280500 Unrestricted Net Assets - 52,038.44 1090-0000-282000 Income and Expense Clearing 1,688.28 (6,294,266.95) 1090-1090-282000 Income and Expense Clearing - (19,923.00) 1090-2010-282000 Income and Expense Clearing (75.00) 1090-3000-282000 Income and Expense Clearing - 4,008,258.14 TOTAL EQUITY 1,688. 88 829,877.63 TOTAL LIABILITES&EQUITY 2,214.99 1,165,123.65 Lansing Housing Commission 5005 Central Office Cost Center Balance Sheet for January 2022 Period Amount Balance ASSETS 5005-0000-1 1 1 1 01 General Fund Checking - 5005-0000-111105 LHC-Payroll Account (100.00) 66,644.64 5005-0000-11 1 1 1 1 Chase Checking (248,489.11) 1,663,669.12 5005-0000-112500 Accounts Receivable HUD (63,374.50) 315,020.95 5005-0000-112954 Accounts Receivables-Misc 167,147.14 (426,342.02) 5005-1010-115700 Intercompany (61,480.68) 9,130.59 5005-1020-115700 Intercompany 1,534.64 25,367.87 5005-1080-115700 Intercompany (11,566.75) 12,294.69 5005-1090-115700 Intercompany 17,575.91 11,890.78 5005-4001-115700 Intercompany 5,839.50 885,499.61 5005-8001-115700 Intercompany 75,736.61 70,620.18 5005-8002-115700 Intercompany 3,244.52 154,201.59 5005-8005-115700 Intercompany (1,974.80) (3,948.81) 5005-8010-115700 Intercompany 12,284.81 16,961.43 5005-8020-115700 Intercompany (56,000.00) 46,512.00 5005-8021-115700 Intercompany 56,000.00 (13,118.00) 5005-9101-115700 Intercompany - - 5005-0000-121100 Prepaid Insurance (598.57) 5,243.62 5005-0000-121200 Prepaid-Other 265.00 11,887.00 5005-0000-140000 Land - 190,000.00 5005-0000-144000 Construction in Progress 41,738.84 5005-0000-146000 Dwelling Structures 775,620.74 5005-0000-146500 Dwelling Equipment-Ranges& 335,281.25 5005-0000-148100 Accumulated Depreciation-Build (1,055,856.85) 5005-0000-150102 Investment in OG 411,617.62 5005-0000-150300 Deferred Outflow-MERS 73,349.00 5005-0000-150301 Deferred Outflows-OPEB 6,502.00 TOTAL ASSETS (103,956.28) 3,629,787.84 LIABILITIES 5005-0000-200000 OPEB Liability 5,138.00 5005-0000-200300 Pension Liability 159,315.00 5005-0000-210000 Construction Costs Payabe - 5005-0000-211100 Accounts Payable (1,140.01) 60,492.34 5005-0000-211343 Accounts Payable Misc - 5005-0000-211703 Union Dues Payable (172.80) (1,252.80) 5005-0000-211704 Health Insurance W/H - 5005-0000-212000 Accrued Payroll 8,104.41 5005-0000-213400 Utility Accrual 1,202.00 5005-0000-213500 Accrued Comp Absences-Curr 1,800.24 5005-0000-214000 Accrued Comp Absences-non curr - 10,201.33 5005-0000-224000 Tenant Prepaid Rent 210.00 3,810.00 5005-0000-260700 Note Payable Non Curr-Davenport - - 5005-0000-260701 Note Payable-Curr-Davenport - 5005-0000-210000 Deferred Inflow-MERS 43,585.00 5005-0000-210001 Deferred Inflow-OPEB 25,144.00 5005-0000-270000 Deferred Inflows - - TOTAL LIABILITIES (1,102.81) 317,539.52 EQUITY 5005-0000-280100 Invest C 262,455.00 5005-0000-280500 Unrestricted Net Assets - 327,575.00 5005-0000-282000 Income and Expense Clearing (102,853.47) 2,955,411.70 5005-1010-282000 Income and Expense Clearing - -3,277.50 5005-1090-282000 Income and Expense Clearing - 3,990.83 5005-3000-282000 Income and Expense Clearing - -233,906.71 TOTAL EQUITY (102,853.47) 3,312,248.32 TOTAL LIABILITES 8,EQUITY (103,956.28) 3,629,787.84 Lansing Housing Commission Housing Choice Voucher Balance Sheet for January 2022 Period Amount Balance ASSETS 8001-0000-111111 Chase Checking 90,142.20 977,029.68 8001-2010-111111 Chase Checking - - 8002-0000-111111 Chase Checking 67,165.70 402,492.96 8002-0000-112200 Accounts Receivable - - 8002-8002-112200 Accounts Receivable - - 8001-0000-112954 Accounts Receivables-Misc - 2,966.15 8002-0000-112954 Accounts Receivables-Misc - - 8001-5005-115700 Intercompany (75,736.61) (70,620.18) 8002-5005-115700 Intercompany (3,244.52) (223,001.59) 8001-0000-121100 Prepaid Insurance (2,726.44) 19,084.07 8001-2010-144000 Construction in Progress - 3,753.83 8001-0000-146500 Dwelling Equipment- Ranges& - 44,423.50 8001-0000-148100 Accumulated Depreciation-Build - (28,063.43) 8002-0000-148100 Accumulated Depreciation-Build - - 8001-0000-150300 Deferred Outflow- MERS - 107.995.00 8001-0000-150301 Deferred Outflows-OPEB - 18,864.00 TOTAL ASSETS 75,600.33 1,254,923.99 LIABILITIES 8001-0000-200000 OPEB Liability - 14,897.00 8001-0000-200300 Pension Liability - 234,571.00 8001-0000-210000 Construction Costs Payabe - - 8001-0000-211100 Accounts Payable 167.54 2,912.40 8002-0000-211100 Accounts Payable - - 8002-8002-211100 Accounts Payable - - 8001-0000-211343 Accounts Payable Misc - - 8001-2010-211998 Deferred Income - - 8001-0000-212000 Accrued Payroll - 21,077.27 8001-0000-213400 Utility Accrual - - 8001-0000-213500 Accrued Comp Absences-Curr - 6,903.56 8001-0000-214000 Accrued Comp Absences-non curr - 39,120.20 8001-0000-210000 Deferred Inflow- MERS - 64,172.00 8001-0000-210001 Deferred Inflow-OPEB - 98,906.00 8001-0000-270000 Deferred Inflows - - TOTAL LIABILITIES 167.54 482.559.43 EQUITY 8001-0000-280500 Unrestricted Net Assets - (311,896.99) 8001-0000-282000 Income and Expense Clearing 11,511.61 907,939.10 8001-0003-282000 Income and Expense Clearing - (1,038.20) 8001-3000-282000 Income and Expense Clearing - (2,130.72) 8002-0000-280100 Invest C - 3,047.00 8002-0000-280400 Restricted Net Assets - 152,357.00 8002-0000-280500 Unrestricted Net Assets - 453,953.00 8002-0000-282000 Income and Expense Clearing 63,921.18 66,204,422.16 8002-8002-282000 Income and Expense Clearing - (66,634,287.79) TOTAL EQUITY 75,432.79 772,364.56 TOTAL LIABILITES&EQUITY 75,600.33 1,254,923.99 tO :•: Qf Lansing Housing COMMISSION 419 Cherry St., Lansing, MI 48933 Telephone: (517)487-6550 Fax: (517)487-6977 February 23, 2022 HONORABLE MEMBERS IN SESSION Lansing Housing Commission 419 Cherry St. Lansing Michigan 48933 SUBJECT: January 2021 Housing Choice Voucher (HCV) Monthly Report CONTACT PERSON: Jennifer Burnette Assistant Director of Housing Programs Family Self Sufficiency (FSS): LHC staff is continuing to outreach for additional participation with the FSS program. HCV Orientations: LHC issued thirteen (13) vouchers in the month of January. Three (3) VASH orientations virtually were held for the month of January 2022, and three (3) vouchers were issued with the assistance of community partners. Waiting List: Emergency Housing Vouchers: 15 of the 32 Emergency Housing Vouchers have been leased up, 5 are pending calculation/inspection, and 13 are issued and are out searching for housing. 200 regular HCV applications mailed out during the month of January, 38 households are out searching for units, 7 applicants are pending documentation or final approval, 0 applicants are pending a hearing, 8 units approved and pending inspection and 14 pending lease-up. Department Initiatives: In the HCV Program, there are currently 1,695 vouchers housed in all its programs. 37 participants are with the Shelter Plus Care Program (S+C), 67 are housed under the Permanent Supportive Housing Program (PSH), 15 are housed under the Emergency Housing Voucher Program (EHV), and 132 are housed under the HUD Veterans Affairs Supportive Housing (VASH) 28 at Waverly Place, 20 are housed under the Holy Cross Rapid TDD/TTY#: 1-800-545-1833 Ext.919 121 "Equal Housing Opportunity"N Lansing Housing Commission Board Meeting February 23,2022 Housing Choice Voucher Report January 2022 Page 1 of 6 Y.. . GY Lansing Housing COMMISSION 419 Cherry St., Lansing, MI 48933 Telephone: (517)487-6550 Fax: (517)487-6977 Rehousing (HCRR), 47 are housed under the Holy Cross Permanent Supportive Housing (HCPSH) and 1,349 are housed under the Housing Choice Voucher Program. Voucher Utilization December Voucher Program Total Units 1,863 December Traditional HCV Utilization 1488 December % Utilized Units 80% January Voucher Program Total Units 1,863 January Traditional HCV Utilization 1481 January % Utilized Units 79% Voucher Disbursement HUD December HAP Disbursement $997,358 LHC December HAP/UAP Disbursement $888,649 % Voucher Funding Utilization 91% HUD January HAP Disbursement $895,656 LHC January HAP/UAP Disbursement $869,694 % Voucher Funding Utilization 97% HUD Held Reserves as of October 2020 $2,678,131 SEMAP Indicators Indicator 1- Selection from the Waiting List This indicator measures whether LHC has written policies in its administrative plan for selecting applicants from the waiting list. This indicator is not scored by PIC but is based on an internal review. LHC is on track to receive all points for this indicator out of a possible 15 as it does have a written policy. Waiting List PIC Scoring Internal Scoring N/A 15 TDDrM#: 1-800-545-1833 Ext.919 � "Equal Housing Opportunity" Lansing Housin g Commission Ecard Meeting February 23,2022 Housing Choice Voucher Report January 2022 Pare 2 of 6 tO � Z4 Lansing Housing COMMISSION 419 Cherry St., Lansing, MI 48933 Telephone: (517)487-6550 Fax: (517)487-6977 Indicator 2- Rent Reasonableness LHC has a method for determining the rent (for each unit leased) is reasonable based on current rents charged for comparable unassisted units. LHC reviewed rent reasonable for the fiscal year 2022. This indicator is not scored by PIC but based. on an internal review. LHC will self-score 20 points for this indicator our of a possible 20. Rent Reasonableness PIC Scoring Internal Scoring N/A 20 Indicator 3- Determination of Adjusted Income This indicator measures if, at the time of admission and reexamination, LHC verifies and correctly determines adjusted annual income for each assisted family, and if LHC uses the appropriate utility allowance(s). This indicator is not scored in PIC but is based on an internal review and scoring. LHC completed 8 file audits with a requirement of 26 to be reviewed for scoring purposes. Therefore, LHC will self-score 20 points out of 20 for the fiscal year ending June 2022. Adjusted Income PIC Scoring Internal Scoring N/A 20 Indicator 4- Utility Allowance The new Utility Allowances were approved and are effective 12/01/2021. This indicator is not scored through PIC but is based on an internal review. Based on the internal review, LHC would receive five (5) of the possible five (5) points for this indicator by the end of the fiscal year. Utility Allowance PIC Scoring Internal Scoring N/A 5 Indicator 5- HQS Quality Control Inspections The number of Quality Control Inspections needed for the year is 28. During this reporting period zero (0) quality control inspections were conducted. This indictor is not scored by PIC but is based on an internal review. Based on the internal review LHC will self-score a five (5) out of the five (5) possible points. TDDrrTY#: 1-500-545-1833 Ext.919 n "Equal Housing Opportunity' Lansing Housing Commission Board Meeting February 23,2022 Housing Choice Voucher Report January 2022 P,ae 3 of 6 tO : GY Lansing Housing COMMISSION 419 Cherry St., Lansing, MI 48933 Telephone: (517)487-6550 Fax: (517)487-6977 Quality Control Inspections PIC Scoring Internal Scoring N/A 5 Indicator 6- HQS Enforcement Following each HQS inspection of a unit under contract where the unit fails to meet HQS, any cited life threatening HQS deficiencies are corrected within 24-hours and all other cited HQS deficiencies are corrected within 30 days. If deficiencies are not corrected timely LHC stops (abates) HAP payment or terminates the contract. This indicator is not scored by PIC but is determined from an internal review. LHC's review indicates there were zero (0) 24-hour deficiencies and thirty-three (33) 30-day deficiencies. All corrected, abated, or terminated, as necessary. HQS Enforcement PIC Scoring Internal Scoring N/A 10 Indicator 7- Expanding Housing Opportunities LHC adopted and implemented a written policy to encourage participation by owners of units located outside areas of poverty and minority concentration. This indicator is not scored in PIC but is based on an internal review. As of this reporting period, LHC records this indicator as receiving five (5) of a possible five (5) Housing Opportunities PIC Scoring Internal Scoring N/A 5 Indicator 8- Payment Standards This indicator shows whether LHC has adopted a current payment standard schedule for the voucher program by unit size. During this reporting period, the HCV Payment Standards were increased to 110% of the success rate 50th percentile. The current payment standards have received Board approval. This indicator is not scored by PIC but is based on an internal review. As of this reporting period, LHC records indicate a five (5) out of a possible five (5) points will be received. TDD/TTY#: 1-800-545-1833 Ext.919 n 'Equal Housing Opportunity" Lan;in�Housin Commisiior Eoard Meeting February 23.20-2 Housing Choice Voucher Report January 2022 Page 4 of 6 It AGY Lansing Housing COMMISSION 419 Cherry St., Lansing, MI 48933 Telephone: (517)487-6550 Fax: (517)487-6977 PIC Scoring Internal Scoring N/A 5 Indicator 9- Annual Reexamination This indicator is used to determine if LHC has completed a reexamination for each participating family at least every 12 months. As of January 31, 2022, the reporting rate is 99%. Based on PIC, LHC records this indicator as 10 of a possible 10 points. Annual Reexaminations PIC Scoring Internal Scoring 10 10 Indicator 10- Correct Tenant Rent Calculation This indicator shows if LHC correctly calculates tenants' rent and the family share of the rent to the owner in the voucher program. As of this reporting period, PIC records indicate LHC will receive 100%. According to PIC records there are no tenant rent calculation discrepancies to report. Based on PIC, LHC records this indicator as receiving five (5) of a possible five (5) points. Correct Tenant Rent PIC Scoring Internal Scoring 5 5 Indicator 11- Pre-Contract HQS Inspections This indicator shows if newly leased units pass HQS inspection on or before the beginning date of the assisted lease and HAP contract. As of this reporting period, PIC recorded this indicator as receiving 100%. Based on PIC LHC would receive five (5) of a possible five (5) points. Pre-Contract HQS PIC Scoring Internal Scoring 5 5 Indicator 12-Inspections This indicator shows if LHC has inspected each unit under contract at least bi-annually. As of this reporting period, PIC recorded this indicator as receiving 99%. Based on PIC LHC would receive 10 of the possible 10 points. TDD/TTY#: 1-800-545-1833 Ext.919 112t "Equal Housing Opportunity"I�" Lansing Housing Commission Board Meeting February 23,2022 Housing Choice Voucher Report January 2022 Page 5 of 6 tO :•: :: Lansing Housing COMMISSION 419 Cherry St., Lansing, MI 48933 Telephone: (517)487-6550 Fax: (517)487-6977 Inspections PIC Scoring Internal Scoring 10 10 Indicator 13- Program Utilization The department utilization rate during this reporting period is 79%. In an effort to maximize the number of participants that are housed, the program's utilization rate will continue to be closely monitored without exceeding funding capacity. SEMAP certification requires LHC to report the status of efforts in providing Housing Choice Vouchers and leasing units based on funds awarded by HUD. Program Utilization PIC Scoring Internal Scoring N/A 20 Indicator 14-Family Self Sufficiency As of this reporting period, the Family Self Sufficiency (FSS) Program has 37 mandatory slots, 17 slots/households or (46%) are enrolled. SEMAP certification requires the LHC to report the status of enrollment for the FSS program. Enrollment and Escrow Accounts are documented by Indicator 14. As of this reporting period, LHC would receive five (5) of 10 points. FSS Enrollment PIC Scoring Internal Scoring N/A 5 Currently 50% of the FSS participants enrolled in the program have escrow accounts. The maximum allowable points are five of(10) points. LHC is currently doing an internal rating of five (5) points. Participant's w/ Escrows PIC Scoring Internal Scoring N/A 5 *Please note all PIC data is of 1/31/2022. TDD/TrY#: 1-800-545-1833 Ext.919 1� "Equal Housing Opportunity" Lk Lansing Housing Commission Board Meeting Ft;i; Housing Choice Voucher Report January 2022 Page 6 of 6 ti 4�1" Z4 Lansing Housing COMMISSION 419 Cherry St., Lansing, MI48933 Telephone: (517)487-6550 Fax: (517)487-6977 February 23, 2022 HONORABLE MEMBERS IN SESSION Lansing Housing Commission 419 Cherry St. Lansing Michigan 48933 SUBJECT: January 2022 Asset Management Monthly Report CONTACT PERSON: Doug Fleming Executive Director 517-487-6550 Ext. 111 OVERVIEW: Lansing Housing Commission ("LHC") communities had an overall occupancy rating of 95% (not including the modernization units) at the end of January. LHC Unit Months Leased (UML) was 386 (with units in MOD) or 95% occupancy rate. LHC maintained a 95% occupancy level, which does not meet the 96% recovery plan occupancy goal. Public Housing (PH) Scattered Sites occupancy was 97% at the end of January. There were zero (0) household moved in, zero (0) resident moved out, and zero (0) unit transfers. The total units occupied was 297 which equals 97%. At the end of January, PH scattered sites had a total of 110 open work orders. LaRoy Froh occupancy was 89% at the end of January. There was zero (0) household moved in, zero (0) resident moved out, zero (0) unit transfers. The total units occupied was 89 which equals 89%. At the end of January, LaRoy Froh had a total of 90 open work orders. TDD/TTY#: 1-800-545-1833 Ext.919 121 "Equal Housing Opportunity" 1,111 Jnl�,Hou.in;;i onunw,,im,ho.ud moetin;;f"bni.ny '; ,0, Monthly Asset Management Report January 2022 P.il;r I of 3 ti4A,"$Z4011 Lansing Housing COMMISSION 419 Cherry St., Lansing, MI48933 Telephone: (517)487-6550 Fax: (517)487-6977 OCCUPANCY: UML Gross Total Number Occupied 1st (including Move 1 Move Transfer Total Site of Units day of month MOD Ins Outs Units MOD including Occupancy ! Units MOD units rate) PH Scattered Sites 306 297 97% 0 0 0 0 LaRoy Froh 100 89 89% 0 0 0 0 Totals 406 386 95% 0 0 0 0 RENT COLLECTION: Site Rent Charged Receivables Total Collection Rate Uncollected PH Scattered Sites $ NA $ NA $ NA TBD LaRoy Froh $ 17,289 $ $ 0 186% Totals $ 17,289 $ 0 $ 0 186% TDD/TTY#: 1-800-545-1833 Ext.919 121 "Equal Housing Opportunity"N L,in,int I luusini;Conunission Boxcl Meeting February 23,2022 Monthly Asset Management Report January 2022 Page 2 of 3 Lansing Housing COMMISSION 419 Cherry St., Lansing, MI 48933 Telephone: (517)487-6550 Fax: (517)487-6977 PH Scattered Sites Vacant Unit Status: Address BR Vacate Total Projected Unit turn Comments*Details Date Days Ready Cost needed for Vacancies Vacant Date over 20 days 5018 Starr 5 6-30-21 208 10-27-21 $1200 Carpentry work being assigned for completion 2119 Forest 2 11-30-21 62 1-30-22 Cleaning getting done 5840 Pheasant 3 7-1-21 208 10-22-21 TBD Carpentry work being assigned for completion 4343 Glenburne 2 3-12-21 308 10-27-21 $1250 Applicant assigned 4151 Glenburne 2 9-16-20 453 9-9-21 $1275 Processing/pulling applications 2165 Forest 2 3-2-21 374 10-22-21 $1800 Carpentry work being assigned for completion 124 Howe 4 6-23-21 213 9-15-21 $2250 Complete restoration required 1507 Robertson 3 2-10-21 368 9-11-21 $1675 Move in scheduled for 9- 22-21 636 Hayford 3 6-24-21 195 TBD TBD Getting painted and cleaned LaRoy Froh Vacant Unit Status: Address BR Vacate Total Projected Unit turn Comments*Details Date Days Ready Cost needed for Vacancies Vacate Date over 20 days 2332 Reo 2 3-12-21 323 Completing Rehab 2212 Reo 3 10-22-20 495 2440 Reo 3 11-19-20 457 2508 Reo 3 2-10-21 353 2220 Reo 3 4-30-21 276 2520 Reo 2 4-30-21 276 2224 Reo 5 4-28-21 279 2448 Reo 4 4-25-21 280 2536 Reo 2 9-12-21 133 2534 Reo 3 11-19-21 80 2532 Reo 3 11-5-21 86 TDD/TTY#: 1-800-545-1833 Ext.919 "Equal Housing Opportunity"lam hln'inl'IIow ill!;i onuni%'Jon Ro,ud Ivl�i tliI;'f•hru;uy? ?U:>:r Monthly Asset Management Report January 2022 1101;e 3 of 3 Lansing Housing Commission (LHC) Lansing Housing December Board Meeting COMMISSION February 23, 2022 Agenda Section 18 Update z The transition from public housing to Section 8 reached another milestone with the closing of Hildebrandt Park Activity Public Housing Units Section 8 Units" • Operate past steady state0 • Close Waverly Place(formerly Mount Vernon Park) 0 • Close Capital City Apartments(formerly South Washington Park) 0 �� • Close Hildebrandt Park 0 • Close LaRoy Froh 0 • Complete sale of eligible scattered sites via Section 18 RFP 0 • Operate new steady state and implement to be determined strategy for remaining public housing units accordingly 0 3 HUD's Section 18 program encourages the demolition or disposition of suboptimal or inefficient assets to improve housing in the community HUD Initiative Details Benefits 3 i1 • Authorizes the demolition or disposition of public housing units meeting the program criteria } • Establishes opportunities to raise funds for capital =` Capital influx to further improvements through demolition or disposition support affordable housing in the area • Determines qualifications based on physical condition '4`%` Redirect capital to higher Section 18 and unsustainable operations to properly maintain � value activities Disposition (Non-contiguous • Includes resident relocation rights and potential ;tit Elimination of ineffective homeownership opportunities segments of portfolio • Replaces disposed asset with new HUD vouchers Reduction of city violations • Outlines rules and regulations for future use of funds { to dHeCsident complaints tied is • Requires environmental review, approved by responsible entity r i 4 The Section 18 RFP includes a total of 207 sites and 242 units Region View Region Region # Region #of #of Description Sites Units 0 Northwest 20 20 North 16 16 0 Northeast 8 10 Central 48 52 0 Southwest` 52 63 South 51 69 0 :JS 0 }� Southeast 12 12 Total 207 242 5 The RFP to time of sale process which will include HUD final approval will continue throughout 2022 Activity • Gather information about Section 18 and discuss options and requirements with HUD • Work with City to align on program and ownership of houses • Compile site detail and develop RFP �?�E1 • Distribute/post RFP •Answer all questions and clarifications from participants • Conduct site visits • Receive RFP responses • Review of proposals, possible interviews, short list determination • • Invite short list best and final offers and clarifications due • Select proposed buyers, start negotiating terms of LOI • Submit Section 18 application to HUD for approvals • Begin executing purchase and sales contracts • Receive HUD Section 18 application approvals, begin closing • Complete closing real estate transactions 6 The RFP reached hundreds of organizations which led to interest from dozens and a compelling bid from SK Investments Group GroupRFP Summary SK Investments • Founded 2009 �� >, • . • Based in Sunrise, Florida a , 375 f rx 3x • s 25 7aYr p Interested _ Contacted Parties• 15 active investments in Florida, Michigan, _ _ and New Jersey • 1500 residential units Formal5 development projects LBids • 200 single family homes in southeast Michigan . .• 250 single family homes in Pontiac, • Michigan Acquired homes from and works closely with Pontiac Housing Commission 1 Leading Candidate • Leverage Project Based Vouchers through SK INVESTMENTS GROUP - LHC, which would minimize impacts on residents The preliminary terms of the deal are good for the residents and community, as well as a fair market value transaction for LHC Preliminary Terms Financial Impact to LHC • Expected to stay in existing Transaction Scenario Estimates Low High homes with voucher, assuming good standing and qualification Potential Sales Revenue S16M S18M • Significant amount of communication will occur prior to Soft Costs $2M $1.5M closing transaction LHC Net Cash Gain $14M S16.5M • Committed to keeping homes affordable for 20 years Final sales revenue will be determined based on the • Intend to work with community � groups for resident services number units sold in the transaction which will be dependent on HUD approval, environmental reviews, • Inquired about LHC serving as buyer due diligence, resident qualifications, etc. management agent • Final soft costs will be determined based on the number of units sold and transactional costs for each unit • $16M - $18M • Duplex$140K • Single Family 2BR - $60K • Single Family 3BR - $70K • Single Family 4BR - $90K • Single Family 5BR - $100K • Fair market value transaction • Final number dependent on total units in transaction 8 The plan is to move forward with following steps and working with SK Investments Group to finalize terms of the transaction Complete environmental assessments and work with the City of Lansing to sign off as the responsible entity Continue discussions with HUD and submit draft Section 18 application Continue to negotiate terms with SK Investments Group and enter into Letter of Intent / Purchase Sales Agreement Conduct resident qualification assessments