Hudson Community Development and Planning Agency, Special Meeting (Part 2)

1. 0:02Yeah. Look. You see? ready. Okay. All right. We're out of executive session. We um attorney meeting and uh no decision was made. However, uh >> um you want to do your recommendation from the committee. Can I get a motion to accept the recommendation of the attorney providing and edited or complete >> next meeting? >> I at next meeting for review and approval.
2. 1:02>> I'll make that motion. >> I'll second. >> All in favor? I >> Okay, cool. So done. >> Okay, so next >> What's that? >> Is that the Abby report? No, I I still got more for you. Um, so we talked to had sort of an informal call with our auditor and um >> So I'm sorry, Logan. Could I just So you were in you started out in your committee meeting. >> No, we just we're just doing this as a >> You started out in a committee of the whole Okay. All right. Thank you. I'm sorry. I just wanted to make sure I understood where you were procedurally. Okay. >> Got it. Yeah. >> Thank you. Sorry. Um so auditor recommendations um she basically is helping us compile a checklist before kind of we go into our audit and then you know we can reach out and talk to her about this um but basically I go over with the treasurer um adj adjustments journal entries and a sort of comprehensive closing checklist. She's helping me craft that and that's
3. 2:05something that in January we'll go over. Um and that was just kind of her advice and suggestion. um before getting into the audit next year. Uh the next item on our list um is the budget review and I just kind of put together a budget based on the HTF and and our own expenses and I can kind of break that down. Okay, so these are our sort of budget stuff and I want to kind of point some things out. Um, so 2024 we had $35,000 to the to Htf from the city. Um, this year I believe it was 40 that last year we got 25 from HHA as part of that um, uh, purchase option purchase agreement. Um, you know, investment earnings. this is on the CD that we've seen so far um going down. So there's two kind of
4. 3:07different bank accounts um and they manifest in different ways. So under operating expenses um professional services that's going to be me that's going to be Chris and that's going to be the auditor. Supplies and materials that's going to be things like Quickbooks that's going to be like when I ordered new checks the three panel checks this year. So, the three panel checks, that was kind of our um increase this year from last. Um other operating expenditures, that's insurance. That's going to remain pretty flat. This next section, >> sorry, Logan. >> Yeah, >> while you're while you're still on this page. Sorry, I just the page just went away. >> Yeah. to my knowledge the uh city uh amount and uh Kamal you're there the amount that the BEA approved for this year for 2026 is 20,000 that's >> well it's listed at a line item I
5. 4:09believe as roots small correct but that is the city contribution for 2026 was uh 20,000 and Kamala is on the BEA he can confirm that >> yeah that's right >> okay so that puts this number and that is supporting the HTF sort of program if we want to call it that which is kind of separate from these expenses here. >> These are coming out of the HCDPA bank account. >> The the other expenses like these uh grants and things are coming out of the grant that we got in what was it 2022 that you know $50,000 each year is going to Hudson roots. We are reimbursing the city partially for Michelle's salary that program. So they're two different things. So you know, >> well actually Logan Logan actually uh we reimbured the city completely for Michelle's salary. >> The quarterly payment >> the quarterly payment to the city includes um Michelle's salary and her benefits.
6. 5:12>> Yeah. And that that is from that >> housing trust. >> Yeah. From the housing trust fund which is from the ADL grant. The housing trust fund reimbures >> Yeah. totally the grid, >> right? Yeah. So, we don't the city doesn't pay for it. They don't have >> No. >> Okay. It just goes through us. >> Yeah. Because we we are sort of overseeing our audit encompasses HTF. >> Yeah. I was under the impression that the city gave a certain amount to a salary. I'm sure >> now that's being >> the other way to think about it is what Margaret was just talking about. The city in the past has given money to Htf. Htf reimbures Michelle's salary. The city's giving that money to the Htf in general. So, you could say it's supporting. >> They're making a different point. >> Yeah. [laughter] >> You could just move on. >> Okay. >> I got you. [laughter] >> Um, and so that's that's basically my presentation that is based on OS and
7. 6:15Shubby. Um, this is the HTML budget. So, we think about this kind of that bottom section down here. Okay. Questions or comments or >> so also going to do the CD? >> Yeah. So, if this is something we want to if people want to develop more questions, we have a meeting next Thursday. We can approve it or go over it further then. But I kind of wanted to let everyone see it and have me walk through it. And >> what [clears throat] was the percentage on the CD? >> The It's just under 4%. And so I'll give the CD as the next part of my sort of admin report. Um and because we have a meeting next week, we don't necessarily have to vote on the budget today, but we should vote on it next week certainly. Um >> but we do have to vote on CD because of time. >> Yeah. Yeah. Okay. So I can I can jump to to that if we're kind of all happy with
8. 7:18that budget overview. Um before the city said the GHR revolving loan that is Galvin. So I've been reaching out to them. Um Dan Kent informed me that the property associated with the loan is not being transferred. >> And what's that property? >> That property is uh 47th North. >> Right by the library. >> It's not being transferred to >> Bard. It'll remain in Galvin's hand. So it remains unchanged. that balloon loan materials on 2031 >> that owner movement. >> Mhm. >> But if it was transferred, it would have they would have to make the full payment. >> That was the optimistic uh perception I was operating under. But, you know, then you'd have to get into the difference between a sale and a transfer and this. But, you know, >> okay. Uh CD matures today. We're still within the 10day grace period. Um, so I talked to Michelle about this last month. Um, pull this up. Um, so in order to get the HTF to April, um, and being conservatively
9. 8:24conservative, we were talking about pulling $95,000 out of the CD. That would leave 110 in to that five month another fivemon CD that would go until April 13th. at what? So, so what's your what's your preference? We just have to do the motion to >> Yeah, just a motion. And basically how this works, I forget the last time I did the city, I bring the minutes in to show that this is a decision the board has made if they've made it and they forget. Don, did you go in last time to make them do that change? >> Yeah. Well, I Yeah, I had to go and sign something, but >> Okay. Because you're a signator. So, if we decide this, I'll write up the minutes. Dominic or one of the signitories will go in to you know inform them of that decision. >> I think we may all have to go by a signature this is something this is >> yeah because it's moving just money from one account to another and authorizing a reinvestment in a CD. >> What is the rate the new rate >> um somewhere under 4% is is where >> yeah I think it's like that was 3.89 and
10. 9:29that was 3 you know it's it's right there. Yeah. >> So, can I get a motion that we withdraw 95 from that uh the CD 95,000 uh you know to go back into, you know, the the housing trust fund, right? That's going to go back and then reoping the CD uh for the amount of $110,000. >> I'll make that motion. >> Can I get a second? >> I second. >> Is that good enough for your minutes? >> Yeah. >> All in favor? Sorry. >> All right. So, that is good for that um financial report. This bill approval. So, this is still to October 22nd. I didn't want to start changing our formula too much. So, at the next meeting next week, we'll get the bills as a normal November meeting. So, these bills are my bill to November um I'm sorry, October 22nd and Chris's uh from
11. 10:34that would be September because she bills monthly. >> Can I get a motion to pay those bills? >> I'll second. >> All in favor? >> I thank you. >> Any oppos? >> Yeah, Logan won't get paid. [laughter] All right. Um, no resolutions today. Old business. Um, the flood plane stuff was finished through the council. That being, uh, moving that responsibility to commissioner of DPW, I >> superend superintendent of DPW. >> Did you give them back their check? >> Yep. I gave them the check with the cover letter and I followed Chris's advice or guidance on that, which was the contract. Um, so that is that. Uh, Logan. >> Yeah, >> Logan. Just for the record, for the minutes, because I'm remote, I have not voted on anything. Just so you know, when you're checking off who voted. >> Okay.
12. 11:38Thank you, wonder. >> We did flood plane seven. No. Well, no new business, right? >> Oh, and then I don't know if I did I skip agenda. Um, oh, HF dates. Um, the show I think you're on there. I'm happy to run through it, too. >> Um, I'm trying to remember my report from last time. I don't think we had any Hudson Roots money spent. Um, >> yeah, I can. Yeah, let's just >> Yeah. And, um, the Just Sun meeting last night um really just kind of discussed goals for next year. So, I'll send those minutes um next week when we have them. Um yeah, that's about it. >> Thank you, Chair. >> Okay. >> Um public comment. >> I'm out, please. One at a time. >> I'll make a motion to adjurnn. >> I want to [clears throat] thank I want to thank um Logan and Michelle for
13. 12:41working on >> Yeah. >> Thanks. I I can't thank too much credit. Michelle deserves more credit. >> Well, we thank you. Michelle's got institution knowledge. >> Oh my gosh. Listen, I mean you could have put him in the chat. >> No, that guy don't like you. [laughter] >> Thank you. Everyone see next Thursday. >> Do we get a motion? >> Yeah, we got one from >> All in favor. >> I [laughter] >> Thanks. >> Thank you. >> Bye. >> Bye. >> Bye. are good and

Timestamps link to the corresponding moment on YouTube. Auto-transcribed, contains speech-recognition errors. Not an official record.