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Description
Laredo Housing Finance Corporation Board of Directors Meeting, 05/27/2022
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Liaison
from
the
community
development
department
that
helps
the
board
and
helps
the
managing
company
with
matters
of
the
hamilton
hotel,
so
we
did
discuss
in
our
last
meeting
and
the
board.
Did
I
really
want
to
go
in
the
direction
of
the
the
board
will
or
capstone?
We
will
be
placing
the
hood,
because
we
still
feel
that
that
is
going
to
be
needed,
regardless
of
what
restaurant
goes
in
there.
So
we
we
do,
that
is
our
intent
to,
and
then
we
did
have
our
inspectors
going,
and
that
was
correct.
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In
regards
to
your
proposals,
so
I
know
the
the
the
board
and
you
all
can
have
some
discussion,
but
I
know
the
board
had
wanted
to
look
at.
We
did
some
analysis
because
the
one
we
mentioned
to
you
there's
no
way
of
separating
utilities,
so
it's
water,
gas
and
and
the
electricity
will
have
to
be
included
in
the
rent,
because
that's
the
way
it's
structured
and
unfortunately,
that's
how
all
our
leases
are,
because
our
landlord,
our
commercial
properties
are,
and
even
our
residential
properties
they're
all
grouped
in
yes,.
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We
did
do
an
analysis
and
I
was
gonna
present
to
the
board.
What
that
analysis
did
discover
was
that
we
kind
of-
and
that's
what
you
have
in
your
packet.
Yes,
so
when
we
had
an
operating
restaurant
back
in
2019
versus
what
we
have
right
now,
we
we
try
to
do
like
an
average
and
see
how
much
more
we
were
paying
in
light.
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Just
first
six
months
because
we
wanna
see
like
how
people
pick
up
at
the
downtown
specific
sleep
because,
like
right
now
still
slow
right
to
be
concerned
on
the
topic
and
then
in
the
six
months
we
can
tell
right
away
like.
Oh,
this
is
a
freaking
pickup.
I'm
sure
you're
gonna
hit
that
number
that
we
estimate,
but
it
just
wanna
at
least
six
months.
If
it
can't
go
to
2300,
that
will
be
right,
23.
That
would
be.
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I
know
that
the
first
beginning
of
six
months,
that's
what
we
discussed
after
25
because
25
I
know
the
beginning,
because
again
we
have
to
kind
of
look
into
marketing
all
the
stuff
that
we
have
to
be
done
right
and
then
again,
because
we
we
want
to
be
successful.
At
the
same
time.
That's
why
we
want
to
add
that
price,
because
I
don't
want
to
like
go
on
top
of
that.
I
know
just
a
few
dollars,
but
it's
to
make
it
different
to
us
and.
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Is
up?
Okay,
then?
That
will
be
the
effect.
Okay,
perfect,
because
right
now
seeing
we
already
discussed,
we
have
almost
like
kombucha
and
everything
what
we
have
right
and
then
we
can
like
apply
other
stuff
that
rely
on
the
links
like
permits,
that
stuff
that,
like
legalized
and
stuff
like
that,
that
we
can
apply
for
okay,.
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Us
like
options
that,
for
example,
like
you,
get
a
lease
right,
so
the
first
one
didn't
count.
You
just
pay
the
first
month
and
the
last
month
I
mean
the
first
minute
deposit,
that's
that's
the
least
that
we
pass
in
and
also
in
downtown,
and
then
after
that
they
will
say
whatever
construction
is
going
to
take.
They
won't
count
that.
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So
across
right,
next
to
the
southern
hotel,
we're
going
to
renovate
it,
the
city
is
requesting
a
grant
right
now
and
we're
hoping
if
we
get
approved,
there's
we're
going
to
be
doing
it's
going
to
be
mixed
income
housing
because
most
of
our
grants
do
have
to
have
a
low-income
component.
Yes,
but
it's
not
elderly!
It's
just
going
to
be
open
to
anybody,
but
they're
going
to
be
small
studio
and
one
bedroom
apartment.
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Expenses
that
we
would
have
liked,
of
course,
there's
funds
right,
that's
just
the
proposed.
They
say
that
we
have
zero
funds,
and
this
is
what
we
start
with
zero
right,
but
the
response
to
cover
some
of
those
expenses
plus
some
of
those
expenses
we
haven't
had
to
incur-
we
haven't
gone
through
with
them
on
those
on
that
budget.
If
you
look
at
year
to
date
on
those
variants,
we're
actually
net
income
positive
and
again,
this
is
just
for
april
april.
It's
29
000.
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But
so
if
you
have
a
a
negative
budget
overall
and
like
I
was
saying
you
don't
collect
all
the
revenues
and
you
do
spend
all
the
exp.
Let's
suppose
you
collect
all
the
revenues
and
then
you
spend
100
of
your
expenses
you're
going
to
end
up
negative
negative
income
at
the
end
of
the
fifth
figure
again.
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We
don't
spend
what's
actually
there
we
depend
so
our
accounting
department.
We
ask
them
for
a
cash
projection,
for
let's
say
the
next
three
months
and
based
on
collections
based
on
outstanding
checks
that
they
have
that
haven't,
cleared
the
bank
based
on
everything
else,
all
of
your
clothes
and
everything
don't
tell
us.
Okay
for
the
next
three
months,
you'll
have
your
barely
been
meeting.
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Let's
say
your
critical
expenses,
which
is
your
payroll,
your
utilities,
your
insurance.
Anything
like
that
you'll
have,
I
said
realistically
and
again,
based
on
what
the
trend
is
of
expenses,
which
is
your
carpets.
Your
hbcs
you'll
have
an
additional
five
thousand
dollars
and
we
decide
whether
okay,
we're
gonna,
buy
furniture
or
we're
not
gonna
buy
it.
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We've
emailed
them
in
the
past
and
then
just
to
see
if
they're
approved,
if
they're
not
approved,
we
spend
what's
needed.
What's
critical,
we
continue
to
pay
utilities.
We
continue
to
pay,
there's
an
hpc
that
needs
to
be
replaced
or
carpet.
That
needs
to
be
replaced
and
we
don't
spend
on
luxuries
because
we
just
can't
I
mean
we.
I
think
we've
all
agreed
that
hamilton's
not
a
prophet.
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I
think
what
you
what
they're
hearing
is.
I
think
you
need
to
go
back
to
your
country
to
come
and
tell
them.
I
understand
that
you're
working
in
your
capital
improvement
project,
but
your
capital
improvement
project
should
be
a
separate
document.
So
if
you
don't
have
funds
right
now,
let's
just
say
with
the
expected
revenue
that
you
have
so
you
haven't
expected
revenue
with
a
percentage
of
vacancy
that
you
predict
work
with
that.
Don't
do
an
operation,
yes
just
work
with.
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So
if
you're,
I'm
just
saying
right
right
now,
like
if
you're
expecting
a
million
dollars
and
that's
already
counting
vacancies,
that's
already
counting
your
vacancy
of
your
restaurant.
That's
already!
You
know
whatever
that
was
you
have
that
that
budget
of
exp
of
projected
revenue
then
do
your
expenses
based
on
that
budget.
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Your
various
reports
should
show
me
exactly
how
much
you
received
and
how
much
you
spent,
and
this
is
showing
you
well.
I
was
expecting
to
receive
so
much.
I
was
expecting
to
to
spend
so
much,
but
I'm
so
negative.
I
mean
it's
just
really
confusing.
I
think-
and
I
think
that's
what
and
it
can't
be,
but.
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And
this
is
where
we're,
where
the
city's
helping
you
know
the
board
just
re,
revisit
these
these
financials
and
see
why?
Why
is
it
that
you
know
certain
numbers?
Don't
don't
add
up
and
what
better
way
can
we
all
work
together
to
to
see
what
what
is
actually
happening
at
the
at
the
hamilton?
How
much
money
is
really
coming
in
and
how
much
really
money
is
this
expense?
Because
I
know
that
was
the
biggest
concern
that
you
know.
Eventually,
we
don't
have
enough
money
to
keep
the
lights
on.
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So
if
you
had
a
more
you
know,
if
you
had
a
balanced
budget,
meaning
you
only
balance
what
you
expect
to
receive
and
you
zero
it
out,
then
your
variance
might
come
out
a
little
bit
and
I
understand
sometimes
you're
like
okay.
Well,
I
didn't
make
if
you're
going
by
your
sorry,
if
you're
going
by
your
actuals
and
then
you
expense
actuals,
then
you
shouldn't
have
negatives
on
your
variances.
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We
just
put
it
aside,
but
but
I
think
I
think
I
think
to
look
at
it
is
really
you
have
to
have
your
expenses
match
your
revenue
and
then
and
then,
if
you
have
expenses,
then
you
might
have
let's
say
something
comes
up
and
you
have
to
do
it.
Then
you
have
to
cut
from.
You,
have
to
do
line
items
to
transfer
line
items
and
say:
okay
well
this
year.
B
Move
it
don't
leave
the
line
item
there
and
say:
can
it
happen?
Sometimes,
right
on
us
we'll
be
like?
Oh,
this
one's
negative
and
this
one's
positive?
Okay?
What's
a
positive,
we
have
to
move
the
line
item
and
then
show
so
that
your
variance
is
not
showing
negatives.
That
might
not
actually
be
there.
You
know
yeah.
I
think
overall,
I
think
that's
what
the
board
really
wants
to
see
actual
like
closer
numbers
to
reality
right
closer
to-
and
I
know
you
you-
you
don't
know-
I
am
already
doing
that,
but
it's
not
reflecting.
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Some
of
them
are
for
employee,
I
may
not
employ
resident
retention
and
we
do
like
cake
and
honduras
and
coffee
and
water,
and
then
I
have
coffee
in
my
office
that
I
stock
up
with
because
they
go
and
they
ask
and
then
mother's
day
comes
around.
We
buy
a
cake,
a
birthday
comes
around
and
we
buy
a
cake.
You.