HomeMy WebLinkAboutKit Housing - 2014-08-20Agenda # 4.1
KITCHENER HOUSING INC
MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS
HELD: Schmalz Room, City Hall, 200 King Street West, Kitchener
DATE: August 20, 2014
TIME: 4:00 p.m.
PRESENT: Andrew Head, Bob McColl, Carl Zehr, Ted Bleaney, Lisa Keys, Bil Ioannidis,
Richard Parent, Mike Seiling
RESOURCE
STAFF: Karen Kwiatkowski, Iulian Anghel, Lori Trumper, Camelia Suciu
ABSENT: Frank Etherington
Opening Remarks
Andrew Head - called the meeting to order at 4:00 p.m.
2. Conflict of Interest - nil
3. Approval of Agenda
On a motion by Ted Bleaney, seconded by Mike Seiling and CARRIED, that the
agenda be approved.
4. Minutes
4.1 Approval of Board Minutes — June 18, 2014
The minutes of the Board of Directors Meeting —June 18, 2014 had been circulated with the
agenda.
On a motion by Ted Bleaney seconded by Richard Parent and CARRIED, it was
resolved that the minutes of the Board Meeting of June 18, 2014 be accepted as
true.
5. Finance & Administration Business
5.1 Financial Statements — July 2014
The financial statements for July have been circulated with the agenda. Lori Trumper gave an
overview of the report.
On a motion by Ted Bleaney, seconded by Mike Seiling and CARRIED, the
March financial statements be approved.
6.2 Rental Arrears Report July 2014
Rental Arrears Report for May 2014 had been circulated with the agenda. The arrears were at
6 %, we had 4 vacancy and we were over the market target by 19 units. There will be a new
format to the Arrears Report and it will be presented at September's Board Meeting. The Board
Members requested more details on the amount not received by the end.
6.3 Market Rent Increase
The proposed Increase to Market Rent Amount for the period of January 1 to December 31, 2015
was circulated with the agenda.
The Ontario Rent Increase Guideline has been set at 1.6 per cent and this is consistent with the
direction from the Region of Waterloo with respect to our Annual Subsidy Estimate calculation
which will be tabled for approval at the September board meeting.
After discussion and recommendation it was agreed to proceed with 1.6% increase for the
Portfolio except David Street 11 with the rent to be increased to $ 463.93 and Cedar View to
$759.91.
On a motion by Ted Bleaney, seconded by Lisa Keys and CARRIED, that the
2015 market rent be increased by 1.6% except David Street 11 where the rent will
be increased to $463.93 and Cedar View with the rent increased to $759.91 be
approved.
6. Property Business — was discussed in Caucus
6.1 Tenant Placement — was discussed in Caucus
6.2 Property Maintenance Report — was discussed in Caucus
7. General Manager's Report - was discussed in Caucus
8. Open Forum - nil
9. Other —
10. Adiournment
On a motion by, Bob McColl seconded by Mike Seiling and CARRIED, the meeting
adjourned at 5:30 P.M
Chairman
ACCEPTANCE OF MINUTES
Secretary