LHC BOARD OF DIRECTORS APPROVE OVER $477M IN MULTIFAMILY HOUSING REVENUE BONDS
BUDGET & FINANCE COMMITTEE MATTERS
The Board of Directors accepted the resolution to adopt the LHC Operating Budget for the Fiscal Year Ending June 30, 2025.
Discussed LHC Financial Report
PROGRAM COMMITTEE MATTERS
Approved the inclusion of Lakeview Loan Servicing, LLC, a Delaware limited liability company in the definition of Master Servicer under the Series 2024C/D/E Program.
Approved the authorization of not exceeding $9M in Multifamily Housing Revenue Bonds for Grand Oaks located at the intersection of Belleview Drive and Pecan Place, Plaquemine, Iberville Parish, Louisiana 70764.
Accepted the supplemental resolution for the proposal of Greystone Housing Impact Investors LP for the purchase of an additional %5M of Taxable Governmental Notes to serve as a bridge loan financing above the previously approved $18M Multifamily Governmental Notes for Natchitoches Thomas Apartments located at 500 North Street, Natchitoches, Natchitoches Parish, Louisiana.
Approved the issuance of not exceeding $19.5M Multifamily Housing Revenue Bonds for 263 Third located at 224 Florida Street and 263 Third Street, Baton Rouge, East Baton Rouge Parish, Louisiana 70801.
Approved the issuance of not exceeding $10M Multifamily Housing Revenue Bonds for Barret Senior Lofts located at 2600 Barret Street, Shreveport, Caddo Parish, Louisiana 71104.
Approved the issuance of not exceeding $52.215M Multifamily Housing Revenue Bonds for The Batture Apartments located at 1494 Tchoupitoulas Street, New Orleans, Orleans Parish, Louisiana 70130.
Approved the issuance of not exceeding $19.5M Multifamily Housing Revenue Bonds for BW Cooper Senior located at 3401 Erato Street, New Orleans, Orleans Parish, Louisiana 70125.
Approved the issuance of not exceeding $25M Multifamily Housing Revenue Bonds for Central Point Senior Village located at 11 Azalea Road, Pineville, Rapides Parish, Louisiana 71360.
Approved the issuance of not exceeding $9.75M Multifamily Housing Revenue Bonds for Fairfield Building Lofts located at 1600 Fairfield Street, Shreveport, Caddo Parish, Louisiana 71104.
Approved the issuance of not exceeding $15,034,454 Multifamily Housing Revenue Bonds for Franklin Senior Apartments located at 1501 Hospital Avenue, Franklin, St. Mary Parish, Louisiana 70438.
Approved the issuance of not exceeding $24M Multifamily Housing Revenue Bonds for Hampton Park located at 9614 Florida Blvd., Walker, Livingston Parish, Louisiana 70785.
Approved the issuance of not exceeding $21M Multifamily Housing Revenue Bonds for Imperial Terrace is located at 5041 Imperial Drive, Houma, Terrebonne Parish, Louisiana 70360.
Approved the issuance of not exceeding $11M Multifamily Housing Revenue Bonds for Lake Charles Mid-City Seniors located at 2900 block of Creole Street, Lake Charles, Calcasieu Parish, Louisiana 70601.
Approved the issuance of not exceeding $92M Multifamily Housing Revenue Bonds for NSA East Bank Apartments located at 4400 Dauphine Street, New Orleans, Orleans Parish, Louisiana 70117.
Approved the issuance of not exceeding $11M Multifamily Housing Revenue Bonds for Richmond Terrace located at 8775 Richmond Drive, LaPlace, St. John the Baptist Parish, Louisiana 70068.
Approved the issuance of not exceeding $23M Multifamily Housing Revenue Bonds for Sherwood Park is located at 5325 Lower Zachary Road, Zachary, East Baton Rouge Parish, Louisiana 70791.
Approved the issuance of not exceeding $24M Multifamily Housing Revenue Bonds for Villas 225 located at 6127 Mallard Crossing Drive, Zachary, East Baton Rouge Parish, Louisiana 70791.
Approved the issuance of not exceeding $8.25M Multifamily Housing Revenue Bonds for Wildwood Townhomes located at 43110 Happywoods Road, Hammond, Tangipahoa Parish, Louisiana 70403.
AUDIT COMMITTEE MATTERS
Discussed the November 7, 2024, Performance Audit on Affordable Housing Programs in Louisiana Notice from the Louisiana Legislative Auditor.
ADMINISTRATION COMMITTEE MATTERS
Discussed and received an update from the Task Force overseeing the hiring of the LHC Chief Financial Officer.
Discussed regarding establishing protocols to allow Board access to LHC internal network files and documents.
Discussed the action regarding the LHC Staffing Plan and received an update on current vacant positions.
Approved the resolution of designating LHC's Executive Management Team
Discussed LHC Grievance Hotline for Employees
Discussed HOME Program, NOAH, CHAAP, and CSAR released prior to approval, and use of HMS versus spreadsheets.
Discussed and received an update regarding CHDO disbursement of operating funds, Recertification, and Quarterly Meetings.
Discussed and received an update regarding the LHC Environment Department.
Discussed repairs at Willowbrook Apartments.
Received an update on Mid-City Apartments Facility's rental occupy.