HA1982/12/1482-55
Anaheim Civic Center, ANAHEIM HOUSING AUTHORITY
December 14, 1982, 9:35 A.M.
PRESENT:
ABSENT:
PRESENT:
AUTHORITY MEMBERS: Kaywood, Pickler, Bay and Roth
AUTHORITY M~I~BERS: Overholt
CITY MANAGER: William O. Talley
CITY ATTORNEY: William P~ Hopkins
SECRETARY: Linda D. Roberts
EXECUTIVE DIRECTOR: Norman Jo Priest
HOUSING MANAGER: Lisa Stipkovich
Chairman Roth called the regular meeting of the Anaheim Housing Authority to
order at 10:04 a.m.
MINUTES: Authority Member Kaywood moved to approve the minutes of the regular
meetings held November 16 and November 23, 1982. Authority Member Bay
seconded the motion. Authority Member Overholt was absent° MOTION CARRIED.
FINANCIAL D~ANDS AGAINST THE ANAHEIM HOUSING AUTHORITY in the amount of
$438~67, in accordance with the 1982-83 Budget, were approved.
177.174: AGREt~ENT BETWEEN THE ANAHEIM HOUSING AUTHORITY AND BUYERS OF
AFFORDABLE UNITS IN BROOKHURST VILLAGE: Submitted was a report dated December
6, 1982, from the Executive Director of Community Development, Norman J.
Priest, recommending approval of a form agreement to be signed by the buyers
of the 82 affordable condominium units in Brookhurst Village relating to a
five-year resale control restriction.
Authority Member Kaywood, referring to Page 3 of the Agreement, asked what
would prevent the first buyer from selling at a high profit to someone elseo
Executive Director of Community Development Norman Priest answered that there
was no such security. At the time the sale occurred, should it occur prior to
the end of five years, the difference between the affordable price and the
market price was payable back to the Housing Authority, but there was no
specific provision on the resale that it would be affordable.
Authority Member Kaywood stated that she hoped in the future there was some
way they could prevent that from happening, since there was no guarantee that
someone was not going to make a windfall profit on the sale, and then the
affordable aspect would be gone.
Authority Member Bay pointed out the fact that there was a de-escalated
five-year control to stop speculation, which he considered to be a good
control°
MOTION: Authority Member Bay moved to approve the form agreement to be signed
by buyers of the 82 affordable condominium units in Brookhurst Village
relating to a five-year resale control restriction, as recommended in
memorandum dated December 6, 1982, from the Executive Director~ Authority
Member Roth seconded the motion° Authority Member Overholt was absent.
Authority Member Kaywood abstained. MOTION CARRIED.
82=56
Anaheim Civic Center, ANAHEIM HOUSING AUTHORITY
DecemSer 14, 1982~ 9:35 A.M.
ADJOURNMENT: Authority Member Roth moved to adjourn. Authority Member
Kaywood seconded the motion. Authority Member Overholt was absent. MOTION
CARRIED. (10:10 a.m.)
LINDA D. ROBERTS, SECRETARY