Housing Corporation Board of Directors public meetings in 2020

Housing Corporation Board of Directors

The Louisiana Housing Corporation Board of Directors will meet virtually to consider approval of minutes, reports, and multiple bond resolutions. The board will vote on issuing up to $62.5 million in Single Family Mortgage Revenue Bonds and numerous multifamily housing bonds for projects across Louisiana. They will also discuss the FY21 operating budget, audit results, and updates on COVID-19 and hurricane recovery efforts.

• Approval of $62.5M Single Family Mortgage Revenue and Refunding Bonds
• $16M Multifamily Housing Revenue Bonds for RNDC Baton Rouge (655 Scenic Hwy, Baton Rouge)
• $11.5M Multifamily Housing Bonds for Arbour Valley Development (Block 100 Alcide Dominique Dr, Lafayette)
• $10M Multifamily Housing Governmental Note for 4948 Chef Menteur Apartments (4960 Chef Menteur Hwy, New Orleans)
• $15M Multifamily Housing Governmental Note for West Park Apartments (105 Reading Ave, Lafayette)

The Board approved the issuance of $62.5 million in Single Family Mortgage Revenue and Refunding Bonds. Additionally, the Board approved 11 separate resolutions for multifamily housing bonds and governmental notes totaling over $85 million for projects across Louisiana. The Board also accepted the June 30, 2020 External Audit Report.

• Approved September 9, 2020 meeting minutes (unanimous)
• Accepted June 30, 2020 External Audit Report (unanimous)
• Approved issuance of up to $62.5M Single Family Mortgage Revenue and Refunding Bonds (unanimous)
• Approved $16M Multifamily Housing Revenue Bonds for RNDC Baton Rouge
• Approved up to $11.5M Multifamily Housing Bonds for Arbour Valley Development, LLC
• Approved up to $8M Multifamily Housing Revenue Bonds for Sandal Family Apartments
• Approved up to $10M Multifamily Housing Governmental Note for 4948 Chef Menteur Apartments
• Approved up to $9.5M Multifamily Housing Governmental Note for The Burrow

Housing Corporation Board of Directors

The Louisiana Housing Corporation Board of Directors is meeting to review several bond issuances for multifamily housing developments across the state. The agenda also includes approving a LIHEAP grant application and discussing the impact of COVID-19 on affordable housing costs.

• Approval of 2021 Low Income Home Energy Assistance Program (LIHEAP) Grant Application
• $30,000,000 mortgage credit certificate bond volume cap allocation
• $10,000,000 Multifamily Housing Revenue Bonds for 4948 Chef Menteur Apartments
• $8,200,000 Multifamily Housing Revenue Bonds for Hammond Station Apartments
• $14,100,000 Multifamily Housing Revenue Bonds for RNDC Baton Rouge

The Board approved the 2021 LIHEAP Grant Application and authorized up to $30M for a mortgage credit certificate election. Members also approved several multifamily housing revenue bonds for developments in New Orleans, Hammond, Baton Rouge, Donaldsonville, and Denham Springs. Additionally, the 2021 QAP timeline was amended due to Hurricane Laura.

• Approved 2021 Low Income Home Energy Assistance Program (LIHEAP) Grant Application (Unanimous)
• Approved up to $30M of 2017 private activity bond volume cap for Mortgage Credit Certificate election (Unanimous)
• Approved contract with Lakeview Loan Servicing, LLC as an additional servicer (Unanimous)
• Approved amended 2021 Qualified Allocation Plan (QAP) timeline due to Hurricane Laura (Unanimous)
• Approved $10M Multifamily Housing Revenue Bonds for 4948 Chef Menteur Apartments (Unanimous)
• Approved $8.2M Multifamily Housing Revenue Bonds for Hammond Station Apartments (Unanimous)
• Approved $14.1M Multifamily Housing Revenue Bonds for RNDC Baton Rouge (Unanimous)
• Approved $8M Multifamily Housing Revenue Bonds for Lemann Building (Unanimous)

Housing Corporation Board of Directors

The Louisiana Housing Corporation Board of Directors is meeting to discuss several resolutions regarding the issuance of multifamily housing revenue bonds. The agenda also includes a discussion on how COVID-19 impacts affordable housing development costs and the approval of the 2021 Qualified Allocation Plan.

• Proposed $11,500,000 bond issuance for Arbour Valley Development, LLC in Lafayette
• Proposed $6,000,000 bond issuance for Byers Estates V in Monroe
• Proposed $8,200,000 bond issuance for Hammond Station Apartments in Hammond
• Proposed $15,000,000 bond issuance for West Park Apartments in Lafayette
• Proposal to accept Bluefin Impact Funding LLC for various bond purchases totaling over $70,000,000

The Board unanimously approved the State's 2021 Qualified Allocation Plan and a series of resolutions to issue Multifamily Housing Revenue Bonds for various developments. One project in Hammond was deferred to the September meeting. The Board also adopted a compliance questionnaire for governmental audit engagements.

• Approved Louisiana Compliance Questionnaire for Audit Engagements of Governmental Entities (Unanimous)
• Approved $11.5M bonds for Arbour Valley Development, LLC in Lafayette (Unanimous)
• Approved $6M bonds for Byers Estates V in Monroe (Unanimous)
• Deferred Hammond Station Apartments resolution to September meeting
• Approved $8.2M bonds for Lafayette Bottle Art Lofts Phase I (Unanimous)
• Approved $8.8M bonds for Lee Hardware & United Jewelers Apartments in Shreveport (Unanimous)
• Approved $6.5M bonds for Mabry Place Townhomes in Amite (Unanimous)
• Approved 2021 Qualified Allocation Plan (Unanimous)

Housing Corporation Board of Directors

The Louisiana Housing Corporation's Multifamily and Assets Committee is meeting to discuss the State's 2021 Qualified Allocation Plan (QAP). The body will provide an opportunity for board member and public comments regarding the plan.

• Discussion and public comment on the 2021 Qualified Allocation Plan (QAP)

Housing Corporation Board of Directors

The Louisiana Housing Corporation Board of Directors will meet to elect officers and swear in two new members. The board is considering several resolutions to issue revenue bonds and governmental notes for multifamily housing projects across the state. Additionally, the board will review the State's 2021 Qualified Allocation Plan.

• Proposed $12.1 million in bonds for Lotus Village in Baton Rouge
• Proposed $8 million in bonds for Lemann Building in Donaldsonville
• Proposed $8 million in bonds for Miller Roy in Monroe
• Proposed $8 million in bonds for Sandal Family Apartments in West Monroe
• Proposed $35 million governmental note for Sherwood Oaks Project in Baton Rouge

The Louisiana Housing Corporation Board of Directors elected Lloyd Spillers as Chairman and Jennifer Vidrine as Vice-Chairwoman. The Board unanimously approved several resolutions to issue multifamily housing revenue bonds for various projects across the state. The 2021 Qualified Allocation Plan was discussed but not yet approved.

• Approved June 10, 2020 meeting minutes (unanimous)
• Elected Lloyd Spillers as Board Chairman (by acclamation)
• Elected Jennifer Vidrine as Board Vice-Chairwoman (by acclamation)
• Approved $12.1M bond resolution for Lotus Village in Baton Rouge (7-0)
• Approved $8M bond resolution for Lemann Building in Donaldsonville (7-0)
• Approved $8M bond resolution for Miller Roy in Monroe (7-0)
• Approved $8M bond resolution for Sandal Family Apartments in West Monroe (7-0)
• Approved $9.5M bond resolution for The Burrow in Hammond (7-0)

Housing Corporation Board of Directors

The Louisiana Housing Corporation Board will vote on resolutions authorizing up to $35 million in multifamily housing revenue bonds for Sherwood Oaks in Baton Rouge and several other projects. The board will also consider the 2021 Draft Qualified Allocation Plan (QAP) for low-income housing tax credits, adopt the FY 2020-2021 operating budget, and approve a three-year extension for Executive Director Edselle Keith Cunningham Jr. The meeting is held via teleconference due to COVID-19.

• Resolution to issue up to $35,000,000 in bonds for Sherwood Oaks at 10950 Darryl Drive, Baton Rouge
• Resolution to issue up to $15,800,000 in bonds for Bellemont Victoria I Apartments at 3225 Victoria Drive, Baton Rouge
• Resolution to issue up to $15,000,000 in bonds for Bellemont Victoria II Apartments at 12254 La Margie Avenue, Baton Rouge
• Resolution to issue up to $23,000,000 in bonds for Park East I/II at 567-655 Sharp Lane, Baton Rouge
• Resolution approving the 2021 Draft Qualified Allocation Plan (QAP) for low-income housing tax credits

The Louisiana Housing Corporation Board of Directors unanimously approved several resolutions for multifamily housing notes and bonds across the state. The Board also adopted the FY21 operating budget and extended Executive Director Edselle Keith Cunningham, Jr.'s employment for three years.

• Approved May 6, 2020 meeting minutes (unanimous)
• Approved June 3, 2020 Administrative and Finance Committee minutes (unanimous)
• Approved $7.5M MHGN for Neil Wagoner & Henderson Project in Winnfield (unanimous)
• Approved $14M MHGN for Millennium Studios III Project in Shreveport (unanimous)
• Approved $12.4M MHGN for Cypress at Gardere Project in Baton Rouge (unanimous)
• Approved $5.5M MHRB for Villas at Lafayette Project in Lafayette (unanimous)
• Approved $35M MHRB for Sherwood Oaks in Baton Rouge (unanimous)
• Approved $15.8M MHRB for Bellemont Victoria I Apartments in Baton Rouge (unanimous)

Housing Corporation Board of Directors

The Administrative and Finance Committee will meet to review the Louisiana Housing Corporation operating budget for the fiscal year ending June 30, 2021. The committee will also discuss a three-year contract extension for Executive Director Edselle Keith Cunningham, Jr.

• Adoption of the FY 2021 Operating Budget
• Contract extension for Executive Director Edselle Keith Cunningham, Jr. for three years
• Approval of October 9, 2019, meeting minutes

Housing Corporation Board of Directors

The Louisiana Housing Corporation Board of Directors will meet to consider several resolutions regarding housing finance. The agenda includes proposals for multifamily housing revenue bonds and governmental notes, as well as the 2020 State Plan for the Louisiana Weatherization Assistance Program.

• Resolution for up to $8,100,000 in Multifamily Housing Revenue Bonds for Lafayette Bottle Art Lofts Project at 1506 Cameron Street, Lafayette
• Resolution for up to $25,000,000 in Governmental Notes for The Reveal Project at 13707 to 13777 Chef Menteur Highway, New Orleans
• Resolution approving changes to The Reveal project in New Orleans
• Resolution for up to $19,000,000 in Single Family Mortgage Revenue Refunding Bonds
• Approval of the Louisiana Weatherization Assistance Program Year 2020 State Plan

The Louisiana Housing Corporation Board of Directors approved multiple resolutions for multifamily housing revenue bonds and single-family mortgage revenue refunding bonds. The Board also approved the 2020 Weatherization Assistance Program State Plan and the final rankings for the 2020 Qualified Allocation Plan. A decision on the FY 2020-2021 operating budget was postponed to the June 10 meeting.

• Approved February 12, 2020, meeting minutes (unanimous)
• Approved March 24, 2020, special meeting minutes (unanimous)
• Approved $8.1M bonds for Lafayette Bottle Art Lofts Project (unanimous)
• Approved $25M notes for The Reveal Project in New Orleans (unanimous)
• Approved changes to The Reveal Project in New Orleans (unanimous)
• Approved 2020 QAP final rankings for residential rental facilities (unanimous)
• Approved $19M Single Family Mortgage Revenue Refunding Bonds (unanimous)
• Approved 2020 Louisiana Weatherization Assistance Program State Plan (unanimous)

Housing Corporation Board of Directors

The Louisiana Housing Corporation Board of Directors will hold a special meeting via video conference on March 24, 2020, due to COVID-19. The board will consider resolutions authorizing up to $4 million in bonds for the Park Homes at Iowa Project and up to $14.5 million in bonds for Vantage Developers LLC projects in Lafayette, approve the 2020 Final Qualified Allocation Plan, and grant the executive director authority to sign agreements for disaster housing programs. New board members will also be introduced.

• Resolution for up to $4,000,000 Multifamily Housing Revenue Bonds (Park Homes at Iowa Project) in Iowa, Calcasieu Parish
• Resolution for up to $14,500,000 Multifamily Housing Revenue Bonds for Vantage Developers LLC (1106 Moss Street and 1600 Simcoe Street, Lafayette)
• Approval of the State's 2020 Final Qualified Allocation Plan (QAP)
• Authorization for Executive Director to sign Cooperative Endeavor Agreement for Disaster Housing Programs (Restoration Loan Program and Restore Louisiana Neighborhood Landlord Rental Program)
• Introduction of new Board Members Mr. Darren Guidry and Mr. Johnny Berthelot

The Louisiana Housing Corporation Board approved several resolutions regarding multifamily housing revenue bonds and the 2020 Final Qualified Allocation Plan. The Board also granted the Executive Director authority to sign a Cooperative Endeavor Agreement with the Office of Community Development.

• Approved Sterling Bank as purchaser for up to $4M in bonds for Park Homes at Iowa Project (unanimous)
• Approved intention to issue up to $14.5M in bonds for Moss Street and Simcro Street projects (unanimous)
• Approved the State's 2020 Qualified Allocation Plan (unanimous)
• Authorized Executive Director to sign Cooperative Endeavor Agreement with OCD (unanimous)

Housing Corporation Board of Directors

The Louisiana Housing Corporation Board of Directors is meeting to consider several resolutions for issuing multifamily housing revenue bonds. The agenda includes bond issuances for projects in Baton Rouge and Lafayette, as well as the approval of the 2020 Draft Qualified Allocation Plan.

• Issuance of up to $19,000,000 in Single Family Mortgage Revenue Refunding Bonds
• $1,100,000 increase for Elysian III Project at 1145 North Street, Baton Rouge
• Up to $5,500,000 in bonds for Villas of Lafayette at Global Circle, Lafayette
• Up to $12,400,000 in bonds for Cypress at Gardere Project at 501 Gardere Lane, Baton Rouge
• Up to $8,100,000 in bonds for Lafayette Bottle Art Lofts at 1506 Cameron Street, Lafayette

The Board approved several multifamily housing revenue bonds for projects in Baton Rouge and Lafayette. It also authorized the assignment of bond counsel services to Butler Snow, LLP and approved the State's 2020 Draft Qualified Allocation Plan.

• Approved assignment of bond counsel contractual rights from Foley & Judell, LLP to Butler Snow, LLP (Unanimous)
• Approved issuance of up to $19M Single Family Mortgage Revenue Refunding Bonds (Unanimous)
• Approved additional $1.1M for Elysian III Project at 1145 North Street, Baton Rouge (Unanimous)
• Approved issuance of up to $5.5M for Villas of Lafayette at Global Circle, Lafayette (Unanimous)
• Approved issuance of up to $12.4M for Cypress at Gardere Project at 501 Gardere Lane, Baton Rouge (Passed; 1 No vote)
• Approved issuance of up to $8.1M for Lafayette Bottle Art Lofts at 1506 Cameron Street, Lafayette (Unanimous)
• Approved the State's 2020 Draft Qualified Allocation Plan (Passed; 1 No vote)
• Approved December 11, 2019 Board Meeting Minutes (Unanimous)