HomeMy WebLinkAboutKit Housing - 2017-01-18
Minutes
Board of Directors Meeting
Wednesday, January 18 , 2017
City of Kitchener City Hall,
Schmalz Room
PRESENT: B. McColl (Chair)
Directors: T. Bleaney, M. Seiling, A. Chin, B. Ioannidis, F.
Etherington, P. Kohli
General Manager: L. Trumper
Manager of Accounting: S. Heide
Manager of Facilities: I. Anghel
Account Analyst: C. Suciu
REGRETS: B. Vrbanovic, R. Parent
1. Meeting Opening
1.1 Call to Order
Bob McColl- Chair, called the meeting at 4:05
1.2 Declaration of Conflict of Interest.
There was no conflict of interest declared.
1.3 Approval of Agenda:
Res #01-01-17: Approval of Agenda
On a motion by B. Ioannidis seconded by T. Bleaney, that the agenda be
approved.
1.4 Approval of Minutes
Minutes were circulated with the agenda.
Res #02-01-17 Approval of Board Minutes December 14, 2017
On a motion by F. Etherington seconded by T. Bleaney, it was resolved that
the minutes of the Board Meeting of October 19, 2016 and November 16, 2016
be accepted as true.
2. Finance & Administration Business
2.1 Mortgage Renewal 45 Howe Drive
At the Board meeting on September 21, 2016 the Board approved the loan proposal from First
National LP to become the new mortgagee of 45 Howe Drive. The loan terms approved at that
documented rate of 2.58% was based on Benchmark Canada Mortgage Bond (benchmark rate)
rate plus a spread of 95 basis points. Due to delays in closing the mortgage agreement the
offered rate of 2.58 % is no longer available given changes to the benchmark rate.
Based on the benchmark rate as at January 4, 2017 the effective interest rate of the loan is
3.28%. First National maintains its 95 basis points spread.
Res #03-01-17: Mortgage Renewal45 Howe Drive
On a motion by P. Kohli seconded by B. Ioannidis, it was resolved that the
Board approve the mortgage renewal at 45 Howe Drive based on a quoted rate
of the Benchmark Canada Mortgage Bond rate plus 95 basis points.
2.2 Review of 2016 Capital Expenditures
Scott presented the report and provided information on the following:
Deferred revenues
Repairs and maintenance activities included in capital budget
Unexpected expenditures
Unit turnovers and upgrades.
3. Facilities Operations/Property Management Business
3.1 430 Connaught Housing Development Updates.
Julian presented the updated on 430 Connaught.
Construction is in progress
Site is being prepared for main concrete slab pouring
3.2 SHIP Funding Magic Pack Replacement
Following discussion from the October 19, 2016 Board meeting regarding the SHIP funding,
management identified the need to replace 159 magic packs located at six different properties.
Management invited seven vendors to tender for this project but only five responded.
Management recommends Comfort Air Heating & Cooling Authorized Napoleon dealer to
supply and install the 159 magic packs.
Res #04-01-17: SHIP funding Magic Pack Replacement.
On a motion by T. Bleaney seconded by A. Chin, it was resolved that the
Board approve Comfort Air Heating & Cooling Authorized Napoleon dealer to
supply and install 159 condo packs as quoted.
3.3 Elevator modernization plan 25 Joseph and 20 Union Lane.
At the Board meeting on June 15, 2016 management presented the elevator modernization
projects for 25 Joseph Street and 20 Union Lane. Soberman Engineering Inc. who was
awarded the consulting contract reviewed the bids for modernization of the elevators. Bids
were received from Quality Allied Inc., ThyssenKrupp and Delta. Soberman Engineering Inc.
recommended that the contract to be awarded to Delta.
Res #05-01-17: Elevator modernization Plan 25 Joseph and 20
Union Lane
On a motion by B. Ioannidis seconded by M. Seiling, it was resolved that the
s
recommendation and price analysis
4. Matters for Discussion
4.1 port
Lori provided information on the rebranding and website proposal. Lori has met and discussed
with three companies, provided them a copy of the strategic plan and asked for their
rebranding and website development plan and costs to create. The three companies that Lori
met with are: Carve Integrated Branding Inc., Eyelight and Intent. Management recommended
retaining the firm Intent.
Board members discussed about the price and what is included in each package and found all
of the offers too high to be considered. It was recommended to search for other companies
and present the results at a subsequent meeting.
Board Subcommittee Discussion
Lori presented the draft for the Kitchener Housing Inc. Sub-Committee Structure and asked
the Board for input on how to reorganize the subcommittee. Being part of a subcommittee will
give the board members the opportunity to be involved in matters that are important to them.
Both board members and staff will be involved in the meetings of the subcommittee. This is
an ongoing discussion.
Res#07-01-17 Subcommittee Structure
On a motion by T. Bleaney seconded by A. Chin, it was resolved that the Board
establish the presented structure as our existing subcommittee structure for
2017 and initial membership as proposed.
5. In-Camera Business
5.1 Motion to go In-Camera
Res #08-01-17: Approval for In-Camera
On a motion by A. Chin seconded by M. Seiling, it was resolved that
the Board meet in-camera at to discuss a legal matter at 6:01 p.m.
5.2 Motion to come out of in-camera
Res #09-01-17 Approval to come out of In-Camera
On a motion by A. Chin seconded by M. Seiling, it was resolved that the Board
come out of in-camera session of the December 14, 2016 Board Meeting at 6:40
p.m.
6. Matters for Noting
7. Meeting Closing
7.1 Next Regular Meeting
Next meeting: Wednesday February 15, 2017 @ 4:00 PM.
7.2 Meeting Adjourned
Res #10-01-17: Approval to Adjourn
On a motion by T. Bleaney seconded by P. Kohli, it was resolved that the Board
meeting of January 18, 2017 be adjourned at 6:45 p.m.
__________________________ _____________________________
Chair Date
__________________________ ____________________________
Date
Vice--Chair