2011-04-12 HRA Agenda PacketPLEASE TURN OFF CELL PHONES & PAGERS IN COUNCIL CHAMBERS,
AGENDA
MOUND HOUSING & REDEVELOPMENT AUTHORITY
REGULAR MEETING
TUESDAY, APRIL 12, 2011,6:55 P.M.
MOUND CITY COUNCIL CHAM
Page
1. Open meeting
2. Action approving agenda, with any amendments
3. Action approving minutes for March 22, 2011 1
4. Action approving claims 2 -6
• 5. Action approving Resolution Adopting the Official Depositories 7 -12
for 2011 and Authorizing the Chairperson to Approve the General
Depository Agreements (GDA) with Wells Fargo Bank and the 4M
Fund/PMA Financial Network, Inc
6. Action approving Management Agreement between Mound Housing 13
and Redevelopment Authority and CommonBond Communities,
effective May 1, 2011 through December 31, 2012
7. Adjourn
MOUND HOUSING AND REDEVELOPMENT AUTHORITY
• MARCH 22, 2011
The Mound Housing and Redevelopment Authority in and for the City of Mound, Minnesota, met
in regular session on Tuesday, March 22, 2011, at 6:55 p.m. in the council chambers of city hall.
Members present: Chair Mark Hanus; Commissioners Kelli Gillispie, Ray Salazar, Heidi Gesch,
and David Osmek.
Others present: Executive Director Kandis Hanson; City Clerk Bonnie Ritter, Community
Development Director Sarah Smith, Public Works Director Carlton Moore, Finance Director
Catherine Pausche, Amanda Schwarze
1. Open meeting
Chair Hanus called the meeting to order at 6:55 p.m.
2. Approve agenda
MOTION by Osmek, seconded by Gesch to approve the agenda. All voted in favor. Motion
carried.
3. Approve minutes
MOTION by Osmek, seconded by Salazar to approve the minutes of the March 8, 2011
meeting. All voted in favor. Motion carried.
4. Approve claims
• MOTION by Gesch, seconded by Osmek to approve claims in the amount of $3,082.56. All
voted in favor. Motion carried.
5. Adiourn
MOTION by Osmek, seconded by Salazar to adjourn at 6:56 p.m. All voted in favor. Motion
carried.
Chair Mark Hanus
Attest: Bonnie Ritter, City Clerk
•
11
I
Mound H RA Claims as of 04 -12 -11
0
DOLLAR
YEAR BATCH NAME AMOUNT
2011 0330H RAMAN 880.69
2011 041211HRA 12,724.11
TOTAL CLAIMS 880.69
n
u
2
CITY OF MOUND 03/30/11 3:37 PM
Page 1
Payments
• CITY OF MOUND
Batch Name 0330HRAMAN
Payments
Current Period: March 2011
User Dollar Amt $880.69
Computer Dollar Amt $880.69
$0.00 In Balance
Refer 2 BENTON, KATHLEEN _
_
Cash Payment E 680 -49800 -321 Telephone & Cells
Cash Payment
G 680 -22830 Security Deposits - Tenant
SECURITY & PET DEPOSIT REFUND —MOVE
$250.00
Wells Fargo HRA 10120 Total
Refer 1 HOLLANDS, MILDRED
OUT 2/28/2011
Cash Payment E 680 - 49800 -460 Janitorial Services
Invoice 033011
3/30/2011
Transaction Date 3/30/2011
Cash Payment
G 680 -22831 Security Deposit - Pets
SECURITY & PET DEPOSIT REFUND - -MOVE
$300.00
Invoice 033011 3/14/2011
_
OUT 2/28/2011
Wells Fargo HRA 10120 Total
Invoice 033011
3/30/2011
10120 Wells Fargo HRA
680 HRA PUBLIC HOUSING
Cash Payment
G 680 -22833 Security Deposit - Interest
UNIT #214 SECURITY & PET DEPOSIT
$10.08
REFUND - -MOVE OUT 2/28/2011
Invoice 033011
3/30/2011
Transaction Date
3/30/2011
Wells Fargo HRA 10120 Total
$560.08
Refer 4 FRONTIER/CITIZENS COMMUNICA
_
Cash Payment E 680 -49800 -321 Telephone & Cells
PHONE SERVICE 3/13 THRU 4/12
Invoice 033011 3/30/2011
_
Transaction Date 3/30/2011
Wells Fargo HRA 10120 Total
Refer 1 HOLLANDS, MILDRED
_
Cash Payment E 680 - 49800 -460 Janitorial Services
CLEANING OF UNIT #214
• Invoice 033011 3/30/2011
Transaction Date 3/30/2011
Wells Fargo HRA 10120 Total
Refer 3 MEDIACOM
Cash Payment E 680 - 49800 -440 Other Contractual Servic ONLINE SERVICES 3/24 -4/23
Invoice 033011 3/14/2011
_
Transaction Date 3/30/2011
Wells Fargo HRA 10120 Total
Fund Summary
10120 Wells Fargo HRA
680 HRA PUBLIC HOUSING
$880.69
$880.69
$140.66
$140.66
$100.00
$100.00
$79.95
$79.95
Pre - Written Checks $0.00
Checks to be Generated by the Compute $880.69
Total $880.69
•
3
A
- // CITY OF MOUND
CITY OF MOUND
Payments
04/07/11 10:32 AM
Page 1
Current Period: April 2011
Batch Name 041211 HRA User Dollar Amt $12,724.11
Payments Computer Dollar Amt $12,724.11
$0.00 In Balance
Refer 133 ALLIED WASTE _
Cash Payment E 680 -49800 -384 Refuse /Garbage Disposa APRIL 2011 GARBAGE SERVICE IKM
Invoice 0894 - 002476280 3/25/2011
Transaction Date 4/6/2011 Wells Fargo HRA 10120 Total
Refer 134 CENTERPOINT ENERGY (MINNEG
Cash Payment E 680 -49800 -383 Gas Utilities GAS SERVICE 2 -16 -11 THRU 3 -17 -11
Invoice 041211 3/23/2011
Transaction Date 4/6/2011 Wells Fargo HRA 10120 Total
Refer 135 CONCEPT LANDSCAPING _
Cash Payment E 680 - 49800 -440 Other Contractual Servic SNOW PLOWING 3/7/11 AT IKM
Invoice 5443 3/30/2011
Transaction Date 4/6/2011 Wells Fargo HRA 10120 Total
Refer 136 COVERALL CLEANING CONCEPTS _
Cash Payment E 680 - 49800 -460 Janitorial Services CLEANING SERVICE APRIL 2011 IKM
Invoice 7070163928 4/1/2011
$262.60
$262.60
$1,480.00
$1,480.00
$80.00
$80.00
$596.36
Transaction Date 4/6/2011 Wells Fargo HRA 10120 Total $596.36
Refer 137 CUSTOMER CONTACT SERVICES
Cash Payment E 680 - 49800 -475 Tenant Related Services ANSWERING SERVICE March 22 thru April 18 $61.50
Invoice 5141 - 032211 3/22/2011
Transaction Date 4/6/2011 Wells Fargo HRA 10120 Total $61.50
Refer 138 ELLIOTTS PAINTING AND DECORA
Cash Payment E 680 - 49800 -402 Building Maintenance PRIME & PAINT OCCUPIED 1 BDR UNIT #103 $1,185.00
CEILINGS & WALLS THROUGHOUT
Invoice 112297 3/22/2011 PO 22555
Cash Payment E 680 - 49800 -402 Building Maintenance PAINT 1 BDR UNIT #209 COMPLETE WALLS
$1,412.50
$2,597.50
$250.00
$300.00
$5.25
$30.03
$585.28
•
0I
Cl
& CEILING & STUDIO UNIT #112 PAINT
WALLS AND CEILINGS
Invoice 112263
3/16/2011 PO 22555
Transaction Date
416/2011
Wells Fargo HRA 10120 Total
Refer 152 ERICKSON, DAVID _
Cash Payment
G 680 -22830 Security Deposits - Tenant
REFUND SECURITY DEPOSIT UNIT #209
MOVE OUT 3 -14 -11
Invoice 041211
4/4/2011
Cash Payment
G 680 -22831 Security Deposit - Pets
REFUND SECURITY & PET DEPOSIT UNIT
#209 MOVE OUT 3 -14 -11
Invoice 041211
4/4/2011
Cash Payment
G 680 -22833 Security Deposit - Interest
REFUND SECURITY & PET DEPOSIT UNIT
#209 MOVE OUT 3 -14 -11
Invoice 041211
4/4/2011
Cash Payment
R 68049800 -38100 Dwelling Rental
REFUND PRORATED MARCH RENT MOVE
OUT 3 -14 -11
Invoice 041211
4/412011
Transaction Date
4/6/2011
Wells Fargo HRA 10120 Total
Refer 141 HAMERNICK DECORATING COMP
-
4
$1,412.50
$2,597.50
$250.00
$300.00
$5.25
$30.03
$585.28
•
0I
Cl
CITY OF MOUND
04/07/11 10:32 AM
Page 2
Payments
CITY OF MOUND
Current
Period: April 2011
Cash Payment E 680 - 49800 -402 Building Maintenance
TAKE UP DIRECT GLUED CARPET &
$501.02
INSTALL NEW CARPET #108
Invoice 041698 3/31/2011 PO 22556
Transaction Date 4/6/2011
Wells Fargo HRA 10120 Total
$501.02
Refer 142 HD SUPPLY FACILITIES MAINTEN _
Cash Payment E 680 -49800 -220 Repair /Maint Supply
2 CHAMPION 4 TANK TOILETS
$288.54
Invoice 9107721142 3/23/2011 PO 22552
Cash Payment E 680 -49800 -210 Operating Supplies
BZ FOLD TOWELS & TRASH BAGS
$116.43
Invoice 9107740704 3/24/2011 PO 22552
Transaction Date 4/6/2011
Wells Fargo HRA 10120 Total
$404.97
Refer 144 IKON FINANCIAL SERVICES _
Cash Payment E 680 -49800 -202 Duplicating and copying
FINAL COPIER LEASE PAYMENT FOR RENT
$130.00
4 -23 -11 THRU 05 -22 -11 -LEASE TERMINATED
Invoice 84491579 3/29/2011
Transaction Date 4/6/2011
Wells Fargo HRA 10120 Total
$130.00
Refer 151 LUTZ, JAMES _
Cash Payment G 680 -22830 Security Deposits - Tenant
REFUND SECURITY DEPOSIT MOVE OUT OF
$250.00
UNIT #104 3 -31 -11
Invoice 041211
Cash Payment G 680 -22833 Security Deposit - Interest
REFUND SECURITY DEPOSIT MOVE OUT OF
$3.99
#104 3 -31 -11
• UNIT
Invoice 041211
Transaction Date 4/6/2011
Wells Fargo HRA 10120 Total
$253.99
Refer 145 MOUND, CITY OF _
Cash Payment E 680 -49800 -382 Water Utilities
UTILITY WATER & SEWER SERVICE FROM 2-
$1,551.29
4 -11 THRU 3 -1 -11
Invoice 041211 4/1512011
Transaction Date 4/6/2011
Wells Fargo HRA 10120 Total
$1,551.29
Refer 146 NS11 MECHANICAL CONTRACTING, _
Cash Payment E 680 - 49800 -440 Other Contractual Servic 2ND QTR MAINTENANCE SERVICE
AGREEMENT -APRIL 2011 THRU JUNE 2011
$1,530.00
Invoice C001604 3/31/2011
Transaction Date 4/6/2011
Wells Fargo HRA 10120 Total
$1,530.00
Refer 147 PROGRAMMED MANAGEMENT CO
Cash Payment E 680 -49800 -301 Auditing and Acct'g Servi ADVANTAGE SYSTEM LICENSE & SUPPORT
$213.75
Invoice 04012011400431 4/1/2011
Transaction Date 4/6/2011
Wells Fargo HRA 10120 Total
$213.75
Refer 148 RENTAL HISTORY REPORTS
Cash Payment E 680 - 49800 -475 Tenant Related Services BACKGROUND CHECK REPORTS ON 4
PROSPECTIVE TENANTS, FRANTZ, CUFFE,
$130.00
ROTH, WILLIAMS
Invoice 0320111737A
Transaction Date 4/6/2011
Wells Fargo HRA 10120 Total
$130.00
Refer 154 TRUE VALUE, MOUND _
Payment E 680 -49800 -220 Repair /Maint Supply
MURIATIC ACID
$13.87
• Cash
Invoice 080719 3/11/2011
Cash Payment E 680 -49800 -220 Repair /Maint Supply
SCREWS, NUTS, BOLTS
$6.70
Invoice 080894 3/17/2011
5
i,
CITY OF MOUND
CITY OF MOUND
Payments
Current Period: April 2011
Cash Payment
E 680 -49800 -220 Repair /Maint Supply
SHELF BRACKET & SEALANT
Invoice 080880
3/17/2011
Cash Payment
E 680 -49800 -220 Repair /Maint Supply
E PK MED SCREWS, BLT SNAP
Invoice 080884
3/17/2011
Cash Payment
E 680 -49800 -220 Repair /Maint Supply
UNIT #209 SATIN LATEX PAINT 5 GAL
Invoice 080902
3/18/2011
Cash Payment
E 680 -49800 -220 Repair/Maint Supply
UNIT #103 5 GAL LATEX PRIMER
Invoice 081002
3/22/2011
_
Transaction Date
4/6/2011
Wells Fargo HRA 10120 Total
Refer 149 WESTONKA MECHANICAL CONTR _
Cash Payment
E 680 - 49800 -401 Building Repairs
SERVICE CALL TO Unit #406
Invoice 34525
3/29/2011
_
Transaction Date
4/6/2011
Wells Fargo HRA 10120 Total
Refer 150 XCEL ENERGY _
Cash Payment
E 680 -49800 -381 Electric Utilities
ELECTRIC CHARGES 2 -23 -11 THRU 3 -26 -11
Invoice 365285883 3/28/2011
_
Transaction Date
4/6/2011
Wells Fargo HRA 10120 Total
Fund Summary
10120
Wells Fargo HRA
680 HRA PUBLIC HOUSING
$12,724.11
$12,724.11
Pre - Written Checks $0.00
Checks to be Generated by the Compute $12,724.11
Total $12,724.11
is
1 01
7
1
04/07/11 10:32 AM
Page 3
$32.03
$10.63
$160.30
$92.97
$316.50
$91.45
$91.45
$1,937.90
$1,937.90
•
MOUND HOUSING AND REDEVELOPMENT
AUTHORITY
INDIAN KNOLL MANOR APARTMENTS
2020 COMMERCE BLVD.
MOUND, MINNESOTA 55364
MEMORANDUM
April 7, 2011
To: HRA Board Chair and Commissioners
From: Kandis Hanson, Executive Director
Catherine Pausche, Finance Director /Treasurer
Re: Approval of HRA Depositories for Fiscal Year 2011
• i Council approved the official depositories for the City in Jan
The City pp p ty may, but HUD has their
own format that we request you approve today.
Staff requests that you approve the attached resolution authorizing the Board Chair to approve
HUD Form 51999 General Depository Agreement.
Please feel free to let Catherine know if you have any questions at (952)472 -0633.
•
7
CITY OF MOUND
RESOLUTION NO 11 = •
RESOLUTION DESIGNATING THE OFFICIAL DEPOSITORIES FOR 2011 AND
AUTHORIZING THE GENERAL DEPOSITORY AGREEMENTS
WHEREAS, the Mound Housing and Redevelopment Authority has contracted with the
U.S. Department of Housing and Urban Development (HUD) to meet the need for
affordable housing in our community and to provide a safe, secure place in which the
elderly, disabled or handicapped citizens of Mound can reside comfortably, and
WHEREAS, the U.S. Department of Housing and Urban Development has certain
standards and reporting requirements that the Mound Housing and Redevelopment
Authority is required to adhere to,
NOW, THEREFORE BE IT RESOLVED that Board of the Mound Housing and
Redevelopment Authority does hereby designate the following banks and financial
institutions as official depositories for the Mound Housing and Redevelopment Authority
and authorizes the Chairperson to enter into the General Depository Agreement (HUD -
51999) with each of them:
Wells Fargo Bank
Minnesota Municipal Money Market Funds /PMA Financial Network, Inc.
Adopted this 12th day of April, 2011.
Chair Mark Hanus
Attest: Bonnie Ritter, City Clerk
•
•
0
i
!
f General Depository U.S. Department of Housing OMB No. 2577 -0270
1 and Urban Development exp. 08/30/2013
• i Agreement Office of Public and Indian Housing
•
This Agreement, entered into this 1St day of April , 20 11 by and between the Mound Housing
and Redevelopment Authority
(herein called the "PHAAHA "), a duly organized and existing public body corporate and politic of the City of Mound
of Mound, Minnesota
and Minnesota Municipal Money Market Funds (4M Funds) /PMA Financial Network, Inc.
(herein called the "Depository"), located at 2135 Citvgate Lane. Na en rville, Illinois. 60563
Witnesseth:
Whereas, the Department of Housing and Urban Development (herein called "HUD ") has entered into one or more contracts (herein
called the "Contract" with the PHA /IHA for the purpose of providing financial assistance to develop and operate lower lncometl>dng
projects, as authorized by the United States Housing Act of 1937, as amended (42 USC 1437, at seq.); and
Whereas, under the terms of the Contract the PHAAHA is required to select as depositories of its funds financial institutions whose
deposits or accounts are insured by either — the Federal Deposit Insurance Corporation or the National Credit Union Share Insurnce
Fund as long as this Agreement is in force and effect.
Now Therefore, in consideration of the mutual covenants herein- writing and signed on behalf of the PHA /IHA by an officer or
after set forth, the parties hereto agree as follows: member designated by resolution of the Board of Directors of the
1. The deposits and accounts of the Depository shall continue PHAAHA to have such authority. To assist the Depository in its
to be insured by either — the Federal Deposit Insurance Corpora- obligation, the PHAAHA shall furnish the Depository with a
tion or the National Credit Union Share Insurance Fund. certified copy of the resolution.
2. All monies deposited by the PHA /IHA with the Depository
shall be credited to the PHA /IHA in a separate interest bearing
deposit or interest bearing accounts, designated
4. Any securities received from the PHA /IHA or purchased by
the Depository with monies from the Accounts shall be considered
to be a part of the Accounts and shall be held by the Depository in
safe - keeping for the PHA /IHA until sold. Interest on such
securities and the proceeds from the sale thereof shall be deposited
in the Account upon receipt.
�1
5. If the Depository received written notice from HUD that no
withdrawals by the PHA /IHA from the Accounts are to be permit-
;
Accounts" (herein the "Accounts "). Any portion of PHA/IHA
ted, the Depository shall not honor any check or other order to pay
Funds not insured by a Federal insurance organization shall be
from the Accounts or directive to purchase or sell securities, or
fully (100 %) and continuously collateralized with specific and
permit any withdrawals by the PHA/IHA from said Accounts until
identifiable U.S. Government or Agency securities prescribed by
the Depository is authorized to do so by written notice from HUD,
HUD. Such securities shall be pledged and set aside in accordance
with applicable law or Federal regulations. The PHA /IHA shall
6. The Depository is not obligated to be familiar, and shall not
have possession of the securities (or the PHA /IHA will take
be charged, with knowledge of the provisions of the Contract, and
possession of the securities) or an independent custodian (or an
shall be under no duty to investigate or determine whether any
independent third party) holds the securities on behalf of the PHA/
action taken by either the PHA/IHA or HUD in respect of the
IHA as a bailee (evidenced by safe keeping receipt and a written
Accounts are consistent with or are authorized by the Contract or
bailment for hire contract) and will be maintained for the full term
whether either PHA/IHA or HUD is in default under the provisions
j
of deposit. The Depository may substitute other securities as
of the Contract. The Depository shall be fully justified in
collateral to equal or increase the value. If PHA /IHA is an agency
accepting and acting on, without investigation, any certificate or
of an Indian tribe, the collateral shall be in United States bonds
notice furnished to it pursuant to the provisions of this Agreement
and otherwise as may be prescribed for public funds by the United
and which the Depository shall in good faith believe to have been
States Secretary of the Treasury.
dui authorized and executed on behalf of the a
y party in whose name
the same purports to have been made or executed.
3. Except as stated in Paragraph 5, the Depository shall honor
any (a) check or other order to pay from the Accounts, or (b)
7. The rights and duties of the Depository under this Agree-
directive to purchase investment securities with monies from the
ment shall not be transferred or assigned by the Depository
Accounts or to sell securities, if such order or directive is in
without the prior written approval of the PHA /IHA and HUD.
•
form HUD -81889 (e)
Form HUD -52000 and previous editions of this form are obsolete, ps8e 1 of 2 ref. Handbook 7475.75.1
�1
This Agreement may be terminated by either party hereto upon investment by the PHA /IHA. Such securities shall not be
thirty days' written notice to the other party, and HUD. The rights considered to be a part of the Account pursuant to Paragraph 4
and duties of the Depository hereunder shall not be transferred or hereof but shall be held by the Depository as custodian or truste
assigned nor shall this Agreement be terminated during any period for the PHAAHA in a separate account established for that purpose
in which the Depository is required to refuse to permit withdraw- by the Depository (herein the "Securities Account "). The
als from the Accounts as provided in Paragraph 5. Securities Account shall be designated:
8. HUD is intended to be a third party beneficiary of this
Agreement and may sue to enforce its provisions and to recover
damages for failure to carry out its terms.
9. The Depository shall promptly notify the PHAAHA of
Income or other proceeds from securities held in the Securities
crediting or depositing of any monies in the Accounts.
Account shall, as directed by the PHA/IHA, upon receipt, be paid
10. The provisions of this Agreement may not be modified by
to or on behalf of the PHA/IHA; provided, however, that such
either Party without the prior written approval of HUD.
proceeds shall, to the extent consistent otherwise with the
provisions of this Paragraph, be deposited in the Accounts. If the
11. Previous General Depository or Savings Depository Agree-
Depository receives written notice from HUD pursuant to
ments, if any, entered into between the Depository and the PHA/
Paragraph 5 hereof that no withdrawals by the PHA /IHA from the
IHA are hereby terminated and all monies and securities of the
Accounts are to be permitted, the Depository shall not honor any
PHAAHA on deposit with or held by the Depositories pursuant to
directive from the PHAAHA to sell securities, or permit any
the terms of said Agreement shall continue to be held for account
withdraws by the PHAAHA, from the Securities Account until the
of the PHAAHA pursuant to and in accordance with the provisions
Depository is authorized to do so by written notice from HUD.
of this Agreement.
During the pendency of such restrictions on the Accounts and the
12. At no time shall the PHAAHA Funds in the Accounts be
Securities Account, the Depository, except as directed in writing
permitted to exceed the amount insured by Federal deposit
by HUD, shall not remit any payment to the PHA/IHA for the
insurance (herein the "Insured Amount "). At any such time as the
purpose of limiting the amount of funds in the Account to the
Insured Amount but shall instead purchase securities approved for
amount of funds in the Accounts reach the Insured Amount,
whether by the accrual of interest or otherwise, the Depository
investment by the PHA/IHA and hold such securities in the
shall promptly, as directed by the PHA /IHA, and in an amount
Securities Account.
( For use only in certain States that have statutes that prohibit
sufficient to limit the funds in the Accounts to the Insured
Amount, either: (a) remit payment to the PHAAHA or, (b) on
Public Housing Agencies and Indian Housing Authorities from
behalf of the PHA /IHA, purchase securities approved for
implementing paragraph 2.) •
In Witness Whereof, the PHA/IHA and the Depository have caused this Agreement to be executed in their respective names and
their respective seal to be impressed hereon and attested as of the date and year first above written.
PHA/IHA
(SEAL)
ATTEST:
By
Chairman
Secretary
Depository —"
(SEAL)
ATTEST:
Note: Strike paragraphs 11 and 12 if not applicable.
Form HUD -52000 and revious editions of this form are obsolete. form HUD -51999 (6/91)
p Page 2 of 2 ref. Handbook 7475.1
10
General Depository U.S. Department of Housing OMB No. 2677 -0270
and Urban Development exp. 09/30/2013
Agreement Office of Public and fndian Housing
•
This Agreement, entered into this 1St day of April 20 by and between the Mound Housin
and Redevelopment Authority
(herein called the "PHA /THA "), a duly organized and existing public body corporate and politic of the City of Mound
of Mound, Minnesota
and Wells Fargo Bank
(herein called the "Depository"), located at 2220 Commerce Boulevard Mound Minnesota 55364
Witnesseth:
Whereas, the Department of Housing and Urban Development (herein called "HUD ") has entered into one or more contracts (herein
called the "Contract' with the PHA/IHA for the purpose of providing financial assistance to develop and operate lower income"ng
projects, as authorized by the United States Housing Act of 1937, as amended (42 USC 1437, et seq.); and
Whereas, under the terms of the Contract the PHA/IHA is required to select as depositories of its funds financial institutions whose
deposits or accounts are insured by either — the Federal Deposit Insurance Corporation or the National Credit Union Share Insuance
Fund as long as this Agreement is in force and effect.
Now Therefore, in consideration of the mutual covenants herein-
after set forth, the parties hereto agree as follows:
1. The deposits and accounts of the Depository shall continue
to be insured by either — the Federal Deposit Insurance Corpora-
tion or the National Credit Union Share Insurance Fund.
2. All monies deposited by the PHAAHA with the Depository
shall be credited to the PHA /IHA in a separate interest bearing
deposit or interest bearing accounts, designated
writing and signed on behalf of the PHAAHA by an officer or
member designated by resolution of the Board of Directors of the
PHAAHA to have such authority. To assist the Depository in its
obligation, the PHAAHA shall furnish the Depository with a
certified copy of the resolution.
4. Any securities received from the PHAAHA or purchased by
the Depository with monies from the Accounts shall be considered
to be a part of the Accounts and shall be held by the Depository in
safe - keeping for the PHAAHA until sold. Interest on such
securities and the proceeds from the sale thereof shall be deposited
in the Account upon receipt.
form HUD -51999 (6191)
Form HUD -52000 and previous editions of this form are obsolete. 11 , ge 1 of 2 ref. Handbook 7475.1
5. If the Depository received written notice from HUD that no
withdrawals by the PHAAHA from the Accounts are to be permit -
Accounts" (herein the "Accounts "). Any portion of PHA/IHA
ted, the Depository shall not honor any check or other order to pay
Funds not insured by a Federal insurance organization shall be
from the Accounts or directive to purchase or sell securities, or
fully (100 %) and continuously collateralized with specific and
permit any withdrawals by the PHA/IHA from said Accounts until
identifiable U.S. Government or Agency securities prescribed by
the Depository is authorized to do so by written notice from HUD.
HUD. Such securities shall be pledged and set aside in accordance
6. The Depository is not obligated to be familiar, and shall not
with applicable law or Federal regulations. The PHA /IHA shall
be charged, with knowledge of the provisions of the Contract, and
have possession of the securities (or the PHAAHA will take
shall be under no duty to investigate or determine whether any
possession of the securities) or an independent custodian (or an
action taken by either the PHA/IHA or HUD in respect of the
independent third party) holds the securities on behalf of the PHA/
Accounts are consistent with or are authorized by the Contract or
IHA as a bailee (evidenced by safe keeping receipt and a written
whether either PHAAHA or HUD is in default under the provisions
bailment for hire contract) and will be maintained for the full term
of the Contract. The Depository shall be fully justified in
of deposit. The Depository may substitute other securities as
accepting and acting on, without investigation, any certificate or
collateral to equal or increase the value. If PHA/IHA is an agency
notice furnished to it pursuant to the provisions of this Agreement
of an Indian tribe, the collateral shall be in United States bonds
and which the Depository shall in good faith believe to have been
and otherwise as may be prescribed for public funds by the United
duly authorized and executed on behalf of the party in whose name
States Secretary of the Treasury.
the same purports to have been made or executed.
3. Except as stated in Paragraph 5, the Depository shall honor
7. The rights and duties of the Depository under this Agree -
any (a) check or other order to pay from the Accounts, or (b)
ment shall not be transferred or assigned by the Depository
directive to purchase investment securities with monies from the
without the prior written approval of the PHAAHA and HUD.
Accounts or to sell securities, if such order or directive is in
form HUD -51999 (6191)
Form HUD -52000 and previous editions of this form are obsolete. 11 , ge 1 of 2 ref. Handbook 7475.1
This Agreement may be terminated by either party hereto upon investment by the PHA /IHA. Such securities shall not be
thirty days' written notice to the other party, and HUD. The rights considered to be a part of the Account pursuant to Paragraph 4
and duties of the Depository hereunder shall not be transferred or hereof but shall be held by the Depository as custodian or trust
assigned nor shall this Agreement be terminated during any period for the PHAAHA in a separate account established for that pu
in which the Depository is required to refuse to permit withdraw- by the Depository (herein the "Securities Account "). The
als from the Accounts as provided in Paragraph 5. Securities Account shall be designated:
8. HUD is intended to be a third party beneficiary of this
Agreement and may sue to enforce its provisions and to recover
damages for failure to carry out its terms.
9. The Depository shall promptly notify the PHAAHA of
Income or other proceeds from securities held in the Securities
crediting or depositing of any monies in the Accounts.
Account shall, as directed by the PHA /IHA, upon receipt, be paid
10. The provisions of this Agreement may not be modified by
to or on behalf of the PHA/IHA; provided, however, that such
either Party without the prior written approval of HUD.
proceeds shall, to the extent consistent otherwise with the
provisions of this Paragraph, be deposited in the Accounts. If the
11. Previous General Depository or Savings Depository Agree-
Depository receives written notice from HUD pursuant to
ments, if any, entered into between the Depository and the PHA/
Paragraph 5 hereof that no withdrawals by the PHA/IHA from the
IHA are hereby terminated and all monies and securities of the
Accounts are to be permitted, the Depository shall not honor any
PHA /IHA on deposit with or held by the Depositories pursuant to
directive from the PHAAHA to sell securities, or permit any
the terms of said Agreement shall continue to be held for account
withdraws by the PHA/1HA, from the Securities Account until the
of the PHAAHA pursuant to and in accordance with the provisions
Depository is authorized to do so by written notice from HUD.
of this Agreement.
During the pendency of such restrictions on the Accounts and the
12. At no time shall the PHA/IHA Funds in the Accounts be
Securities Account, the Depository, except as directed in writing
permitted to exceed the amount insured by Federal deposit
by HUD, shall not remit any payment to the PHA/IHA for the
insurance (herein the "Insured Amount "). At any such time as the
purpose of limiting the amount of funds in the Account to the
amount of funds in the Accounts reach the Insured Amount,
Insured Amount but shall instead purchase securities approved for
whether by the accrual of interest or otherwise, the Depository
investment by the PHA /IHA and hold such securities in the
shall promptly, as directed by the PHAAHA, and in an amount
sufficient to limit the funds in the Accounts to the Insured
Securities Account.
( For use only in certain States that have statutes that prohibit
Amount, either: (a) remit payment to the PHA/IHA or, (b) on
Public Housing Agencies and Indian Housing Authorities from
implementing
p g paragraph 2.)
behalf of the PHA /IHA, purchase securities approved for
•
In Witness Whereof, the PHA /IHA and the Depository have caused this Agreement to be executed in their respective names and
their respective seal to be impressed hereon and attested as of the date and year first above written.
(SEAL)
ATTEST:
By
PHA/IHA
Secretary
Deposito
B 1LJ.3� _9��
(SEAL)
ATTEST:
Note: Strike paragraphs 11 and 12 if not applicable.
Chairman
•
form HUD -51999 (6/91)
Form HUD-52000 and previous editions of this form are obsolete. 12 ;e 2 of 2 ref. Handbook 7475.1
• MOUND HOUSING AND REDEVELOPMENT
AUTHORITY
INDIAN KNOLL MANOR APARTMENTS
2020 COMMERCE BLVD.
MOUND, MINNESOTA 55364
MEMORANDUM
April 7, 2011
To: HRA Board Chair and Commissioners
From: Kandis Hanson, Executive Director
Catherine Pausche, Finance Director/Treasurer
Re: Common Bond Management Agreement for the period
May 1, 2011 through December 31, 2012
• Two responses to our Request for Proposal for Property Management Services at Indian Knoll
p 9 p p rtY g
Manor were received by the deadline, March 25, 2011.
The two companies who responded, Common Bond Communities and Premiere Management,
both have experience in affordable housing management and their full responses are included for
your consideration.
Staff will be discussing why they are recommending Common Bond Communities to be
approved for the management agreement at Tuesday's HRA meeting. Common Bond
Communities is the leader in affordable housing, comes with strong recommendations and has a
local presence in the area. They currently manage affordable housing projects in Mound,
Excelsior and Maple Plain.
Please feel free to let Catherine know if you have any questions at (952)472 -0633.
•
13