HomeMy WebLinkAboutCAHAB Minutes 08-14-2019
Community Affordable Housing Advisory Board
August 14th, 2019 | 8:00 AM | City Hall Commission Room: 121 N. Rouse Ave A. 08:02:11 AM (00:02:00) Call meeting to order & Roll Call
Present Were:
- Brian Guyer (Ex Officio Member)
- David Magistrelli
- Steve Wheeler
- Noel Seeburg
- Greg Stratton
- Kevin Thane (Chairman)
- Jody Bartz
- Dulaney Collins
- Loren Olsen (Staff Liaison)
B. 08:02:18 AM (00:02:07) Changes to the Agenda
C. 08:02:23 AM (00:02:12) Public Comment
Please state your name and address in an audible tone of voice for the record. This is the time for
individuals to comment on matters falling within the purview of the Committee. There will also be an
opportunity in conjunction with each action item for comments pertaining to that item. Please limit
your comments to three minutes.
D. 08:02:54 AM (00:02:43) Minutes for Approval
• 7.10.19 Minutes (PDF)
o 7.10.19 Video Link
08:02:51 AM (00:02:41) MOTION to approve minutes: David Magistrelli
08:03:01 AM (00:02:51) MOTION SECONDED: Steve Wheeler
Correction: Jody Bartz spelling
08:03:23 AM (00:03:13) VOTE: Motion Carried 6-0; 1 Abstention
E. 08:03:40 AM (00:03:30) Disclosures
F. 08:04:05 AM (00:03:54) Special Presentations
1. Community Reinvestment Act (CRA) (Rebekah Leonard, CRCM Compliance Specialist)
Board member, Steve Wheeler introduced a past colleague, Rebekah Leonard, as a leading expert in the
Community Reinvestment Act.
Ms. Leonard provided a history of the Community Reinvestment Act, initiated in 1977 to assist in grading
the strength in collateral in specific areas. Ms. Leonard explained that credit unions are exempt from
this law as they are community owned.
08:10:25 AM (00:10:14) Ms. Leonard defined important terms including: Assessment Area, Census
Tracts, Performance Evaluation, Micropolitan Statistical Area, Metropolitan Statistical Area (MSA), and
Low-or-Moderate-Income (LMI).
08:16:11 AM (00:16:01) Ms. Leonard reviewed the Federal Financial Institutions Examination Council
(FFIEC) census tracts by income category for Gallatin County.
08:22:08 AM (00:21:57) Ms. Leonard reviewed the importance of the Community Reinvestment Act
rating, which is available as public information. The consequences of a poor rating is that a bank won’t
be allowed to move into a new market if they can’t properly reinvest in a market in which they already
exist.
08:26:50 AM (00:26:40) Ms. Leonard described the Lending Test, and explained that there are
restrictions on “double dipping” for LMI borrowers on other special lending products.
08:29:59 AM (00:29:48) Ms. Leonard reviewed how Community Reinvestment funds apply to rentals
through the “Fair Market Rent Documentation System.”
08:33:41 AM (00:33:30) Ms. Leonard responded to board member questions regarding the incentives
that banks can offer, how to ensure CRA credits are obtained, whether CRA funding is impacted when a
community is classified as a micropolitan versus metropolitan area, and how CRA funding pertains to
mobile or modular homes.
G. FYI/Discussion
1. 08:46:07 AM (00:45:56) Discussion on the HRDC Housing Wait List Procedure (Lila
Fleishman - HRDC Housing and Healthcare Coordinator)
Lila Fleishman of HRDC provided an overview of the HRDC waiting list process that is currently in place
and welcomed ideas for change. Ms. Fleishman explained the eligibility criteria for the waitlist which
requires a homebuyer education course. The list is ranked based on how long an individual has been
waiting on the list.
08:57:05 AM (00:56:55) Ms. Fleishman reviewed the process for developers from when they submit the
affordable housing marketing plan to HRDC verifying eligibility and connecting the top candidate with
the developer.
08:58:57 AM (00:58:47) Ms. Fleishman reviewed the affordable housing process for the Administrator.
Following, Ms. Fleishman and Human Resource Development Council, Associate Director Tracy Menuez
responded to questions from board Chair Kevin Thane regarding eligibility for the waitlist.
09:14:08 AM (01:13:58) HRDC representatives responded to board member Dulaney Collins questions
regarding the required homebuyer education course. Following, Ms. Fleishman responded to board
member Greg Stratton’s question regarding how often the list is maintained to eliminate individuals
who are no longer looking for affordable housing.
09:16:40 AM (01:16:30) Mr. Stratton asked whether it made sense to tier the list based on interest.
Following, board members and HRDC staff deliberated on the appropriateness of additional criteria to
be placed on the affordable housing waiting list.
2. 09:33:48 AM (01:33:38) Update Regarding the July 24th & 25th Housing Work Group
Meetings for Community Housing Action Plan
Board Chair and Housing Group Representative, Kevin Thane provided an update regarding the
Community Housing Action Plan process.
3. 09:35:36 AM (01:35:26) Updates and Future Agenda Items
H. 09:36:27 AM (01:36:16) Adjournment | 9:30 AM
For more information please contact Loren Olsen at 406-582-2953
This board generally meets the 2nd Wednesday of the month from 8:00AM to 9:30 AM
Committee meetings are open to all members of the public. If you have a disability and require assistance,
please contact our ADA coordinator, Mike Gray at 582-3232 (TDD 582-2301).