Kentucky Housing Corporation Board of Directors to Meet

A regular meeting of the Kentucky Housing Corporation Board of Directors will be held Thursday, August 30, 2007, 2 p.m., Eastern time, 1231 Louisville Road, Frankfort.  A copy of the agenda accompanies this notice. 

The press and public are invited to attend.  Individuals requiring special accommodations to attend this meeting should contact Tracey Fitzgerald at least 24 hours in advance at (502) 564-7630 or (800) 633-8896, extension 241; TTY 711; or email tfitzgerald@kyhousing.org.

AGENDA

I.         Call to Order                                                                                                                           Chairman Don Ball

A.  Confirmation of Quorum
B   Confirmation of Press Notice
C.  Election of Vice Chairman
D.  Public Participation (Public may raise issues not already on the agenda; limited to five minutes per speaker.)

II.        Consideration/Approval of Minutes of the Meeting held June 15, 2007 (Motion)                                    Chairman Ball

III.       Report of Action by Executive Committee at Meetings July 20, 2007 and August 10, 2007                     Chairman Ball and Lori H. Flanery

IV.       Finance Report

V.        Authorization to Develop Financing Plan to Provide Funding for Homeownership Program                        Richard L. McQuady

Consideration of Resolution No. 43, Series of 2007 (Motion)
A RESOLUTION AUTHORIZING STAFF TO DEVELOP A FINANCING PLAN TO PROVIDE CONTINUED FUNDING FOR THE CORPORATION’S HOMEOWNERSHIP PROGRAM.

VI.       Updates in Signatory Authority                                                                                                   Lori H. Flanery

Consideration of Resolution No. 44, Series of 2007 (Motion)
A RESOLUTION AUTHORIZING SPECIFIC INDIVIDUALS AND SPECIFIC POSITION APPOINTEES TO SIGN CERTAIN DOCUMENTS ON BEHALF OF KENTUCKY HOUSING CORPORATION IN THE NORMAL COURSE OF BUSINESS.

VII.      Approval of 2008 Qualified Allocation Plan for Low Income Housing Tax Credit Program                          Mark Offerman

Consideration of Resolution No. 45, Series of 2007 (Motion)
A RESOLUTION APPROVING THE 2008 QUALIFIED ALLOCATION PLAN FOR THE HOUSING CREDIT PROGRAM EFFECTIVE JANUARY 1, 2008.

VIII.     Sale of Conduit Multifamily Mortgage Revenue Bonds, 2007 Series A, Clarksdale Rental III LP Project       Mark Offerman

Consideration of Resolution No. 46, Series of 2007 (Motion)
A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $11,000,0000 CONDUIT MULTIFAMILY MORTGAGE REVENUE BONDS, SERIES 2007 (CLARKSDALE RENTAL III LIMITED PARTNERSHIP PROJECT) BY THE KENTUCKY HOUSING CORPORATION, THE PROCEEDS OF WHICH SHALL BE LOANED TO CLARKSDALE RENTAL III LIMITED PARTNERSHIP, A KENTUCKY LIMITED PARTNERSHIP TO FINANCE THE ACQUISITION, CONSTRUCTION AND EQUIPPING OF A MULTIFAMILY RESIDENTIAL RENTAL HOUSING FACILITY; PROVIDING FOR THE PLEDGE OF REVENUES FOR THE PAYMENT OF SUCH BONDS; AUTHORIZING A LOAN AGREEMENT  AND AN INDENTURE OF TRUST APPROPRIATE FOR THE PROTECTION AND DISPOSITION OF SUCH REVENUES AND TO FURTHER SECURE SUCH BONDS; AUTHORIZING A BOND PURCHASE AGREEMENT, A TAX REGULATORY AGREEMENT, A LAND USE RESTRICTION AGREEMENT (RELATING TO PROJECT I), A LAND USE RESTRICTION AGREEMENT (RELATING TO PROJECT II) AND AN OFFICIAL STATEMENT AND AUTHORIZING OTHER DOCUMENTS AND ACTIONS IN CONNECTION WITH THE ISSUANCE OF SUCH BONDS.

IX.       Approval of Personal Service Contract for Employment Law Training                                                  Paula Johnson

Consideration of Resolution No. 47, Series of 2007 (Motion)
A RESOLUTION AUTHORIZING STAFF TO ENTER INTO A PERSONAL SERVICE CONTRACT WITH STOLL KEENON OGDEN PLLC FOR FISCAL YEAR 2008 TO PROVIDE SPECIALIZED TRAINING IN EMPLOYMENT LAW IN AN AMOUNT NOT TO EXCEED $3,000.

X.        Call for Motion to Enter into Executive Session                                                                              Chairman Ball

XI.       Call for Motion to Enter into Open Session                                                                                    Chairman Ball

XII.      Motion to Approve Any Recommendations of the Board of Directors Meeting in Executive Session           Chairman Ball

XIII.     Informational Items

A.  Secondary Market Products                                                                                             Brenda Walker

B.  Performance Measurement in the Federal Year 2006 Consolidated Annual Performance
and Evaluation Report to HUD                                                                                               Bernie Hamm

XIV.     Items from the Board or Staff (not on the agenda)                                                                         Chairman Ball

XV.      Adjournment (Motion)                                                                                                               Chairman Ball

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www.kyhousing.org

Kentucky Housing Corporation, the state housing finance agency, was created by the 1972 General Assembly to provide affordable housing opportunities.  As a self-supporting, public corporation, Kentucky Housing offers lower-than-market rate home mortgages, housing production financing, homeownership education/counseling, rental assistance, housing rehabilitation and supportive housing programs for special needs populations.

Kentucky Housing Corporation prohibits discrimination in employment based on race, color, religion, sex, national origin, sexual orientation, gender identity, ancestry, age, disability or veteran status.