The LHC Board of Directors Review LHC CHDO Tour 2024

The LHC Board of Directors discussed the Louisiana Legislative Auditor ("LLA") recommendations for Low Income Housing Tax Credit ("LIHTC”) Bond Applications.

AUDIT COMMITTEE MATTERS

Approved the resolution of adopting the completed Louisiana Compliance Questionnaire for Audit Engagements of Governmental Entities.
Discussed Kick-off of the FY 2024 Financial Audit; and providing for other matters in connection therewith.
Discussed the LHC FY 2025 Internal Audit Plan; and providing for other matters in connection therewith.
Discussed the Scheduled and Anticipated Federal Program Audits; and providing for other matters in connection therewith.

BUDGET & FINANCE COMMITTEE MATTERS

The Board of Directors adopted the resolution extending the previously (July 10, 2024) adopted Short-Term LHC Operating Budget in the amount of $11.5M for the additional period of September 01, 2024-October 01, 2024, as related to the LHC Operating Budget for the Fiscal Year Ending June 30, 2025; and providing for other matters in connection therewith.
Discussed the LHC FY25 Operating Budget revenues and expenditures from July 01 – 31, 2024; and providing for other matters in connection therewith.

PROGRAM COMMITTEE MATTERS

Approved and authorized the Louisiana Housing Corporation (“LHC) or “Corporation”) to enter into a contract with Team Title, L.L.C. d/b/a/ Team Civic Solutions to provide professional legal services for the agency’s CDBG-DR Housing Programs as needed; and providing for other matters in connection therewith.
Approved the resolution of intention to issue not exceeding $24M Multifamily Housing Revenue Bonds for The Reserve at Lapalco Place (located at 5301 Lapalco Boulevard, Marrero, Jefferson Parish, Louisiana 70072).
Approved the resolution to authorize and direct the Program Committee to undertake a review of the policy mandates, threshold requirements, and underwriting criteria of projects financed by the Louisiana Housing Corporation in order to identify revisions that may be implemented to improve the financial feasibility of such projects within a new proposed cost containment initiative.
Approved the resolution of authorizing a new Master General Indenture of Trust and a Special Cash Flow Analyst to provide special cash flow analyses and bond/mortgage yield computations thereunder; authorizing and approving the issuance of not exceeding $125M of Louisiana Housing Corporation Single Family Mortgage Revenue Bonds.
Authorized the resolution of the LHC to expand the qualifications for the Keys for Service Homeownership Program.
Discussed amending the State's 2025 Qualified Allocation Plan (“QAP”) to align with the priorities outlined by Governor Jeff Landry in his letter dated July 1, 2024 and to extend the Program Schedule.

ADMINISTRATION COMMITTEE MATTERS

Discussed allowing the Board access to LHC internal network files and documents.
Approved the HOME Program Administration Policy.
Discussed the status of Willowbrook Apartments (located at 7001 Bundy Road, New Orleans, LA 70127 post-fire incident.
Discussed the LHC FY25 Staffing Plan.
Discussed the LHC Employee Handbook.
Discussed and received an update on LHC's 2024 Louisiana Housing Conference.

August 2024 LHC Board of Directors Meeting

The LHC Board of Directors Review LHC CHDO Tour 2024

AUDIT COMMITTEE MATTERS

BUDGET & FINANCE COMMITTEE MATTERS

PROGRAM COMMITTEE MATTERS

ADMINISTRATION COMMITTEE MATTERS

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