HomeMy WebLinkAboutKit Housing - 2017-04-19
Minutes
Board of Directors Meeting
Wednesday, April 19 , 2017
City of Kitchener City Hall,
Schmalz Room
PRESENT: B. McColl (Chair)
Directors: R. Parent, B. Ioannidis, F. Etherington, T.
Bleaney, A. Chin
General Manager: L. Trumper
Manager of Accounting: S. Heide
Manager of Facilities: I. Anghel
Account Analyst: C. Suciu
REGRETS: B. Vrbanovic, M. Seiling, P. Kohli
1. Meeting Opening
1.1 Call to Order
Bob McColl- Chair of the Board, called the meeting at 5:30.
Bob congratulated Scott and Lori for all the work done for the year end and audit.
1.2 Declaration of Conflict of Interest
There was no conflict of interest declared.
1.3 Approval of Agenda
Res #01-04-17: Approval of Agenda
On a motion by B. Ioannidis seconded by R. Parent, that the agenda be
approved.
1.4 Approval of Minutes
Minutes were circulated with the agenda.
Res #02-04-17 Approval of Board Minutes – March 22, 2017
On a motion by T. Bleaney seconded by F. Etherington, it was resolved that
the minutes of the Board Meeting of March 22, 2017 be accepted as amended.
2. Finance & Administration Business
2.1 2017 Operating Budget
The 2017 Operating Budget was circulated with the agenda. Scott presented the draft budget.
Res #03-04-17: 2017 Operating Budget
On a motion by T. Bleaney seconded by F. Etherington, it was resolved that
the Board approve the 2017 Operating Budget as presented.
2.2 Financial Report for the period ended March 31, 2017
Scott presented the Financial Report:
The statement of operations indicates a year–to-date operating surplus of approximately
$76,000 across the entire portfolio
Year-to date revenues are consistent with budgeted amounts
Year-to date operating expenses are approximately $117,000 under budget.
Res #03-04-17: Approval of Financial Report
On a motion by R. Parent seconded by B. Ioannidis, it was resolved that the
Board approves the Financial Report for the period ended March 31, 2017 as
presented.
2.3 Tenant Placement Report
Scott presented the report. Discussion followed regarding the actual vacancy days vs. the
requirements from Region of Waterloo.
2.4 Arrears Report
The report was circulated with the agenda for information only. Camelia presented the report.
The arrears were at 3% for the month of March.
2.5 Capital Forecast and 2017 Capital Budget
The Draft Capital Budget was circulated with the agenda. Scott presented the report.
Res #05-04-17: 2017 Capital Budget
On a motion by B seconded by F. Etherington, it was resolved that the Board
approves the 2017 Draft Capital Budget as presented.
3. Facilities Operations/Property Management Business
3.1 430 Connaught Development Update
Julian presented the report.
Wood framing is now on the fourth floor of the building
Dakon is waiting for the masonry contractor to finish the construction of the stairs and
th
elevator shaft all the way to 5 floor.
3.2 430 Connaught Financial Forecast
The report was circulated with the agenda for information only.
4. Matters for Discussion
4.1 GM’s report
Lori provided information on the:
Growth Committee Meeting
CMHC – Waterloo Region Industry Roundtable, attended on March 28,2017
Federal Budget Highlights
ONPHA Regional Meetings
4.2 General Manager’s Report – Sub Committees Terms of Reference:
This item was deferred to the next board meeting.
5. In-Camera Business
5.1 Motion to go In-Camera
Res #06-04-17: Approval for In-Camera
On a motion by T. Bleaney seconded by A. Chin, it was resolved that
the Board meet in-camera at to discuss a legal matter at 6:11 p.m.
5.2 Motion to come out of in-camera
Res #07-04-17 Approval to come out of In-Camera
On a motion by A. Chin seconded by F. Etherington, it was resolved that the
Board come out of in-camera session of the April 19, 2017 Board Meeting at 6:21
p.m.
6. Matters for Noting
7. Meeting Closing
7.1 Next Regular Meeting
Next meeting: Wednesday May 17, 2017 @ 4:00 PM.
7.2 Meeting Adjourned
Res #09-02-17: Approval to Adjourn
On a motion by R. Parent seconded by B. Ioannidis, it was resolved that the
Board meeting of March 22, 2017 be adjourned at 6:22 p.m.
__________________________ _____________________________
Chair Date
__________________________ ____________________________
Date
Vice--Chair