Directors present: Chris Heintz, Eric Solsaa, Paul Brown, Shaun Williams, Andrew Salamon, Dick Malley, and Dave Pearson.
Visitors present: Debbie Boyd and Megan Roush of the United States Department of Agriculture (USDA), Rural Development Mortgage Administration Specialists.
Chris called the meeting to order at 6:38 PM.
A motion was made by Paul to accept the meeting minutes of July 12th, 2016—Revision A (that adds a synopsis of Dick Malley’s “Imagine in 2017 Document” and a synopsis of the “Stewardship Program”). The motion was seconded by Dave. The motion passed unanimously.
Chris led the discussion
The USDA was invited to speak to the board about their programs to examine a possible fit with HFH-Rutland County home financing. Debbie Boyd presented the some of the USDA’s Rural Home Loans-Direct Program and Single Family Housing Repair and Loans and Grants. These programs focus on New Construction Loans and Home Renovation. USDA printed program descriptions and requirements were handed out to the board. These are low cost mortgages that serve Rutland County based on income limits, purchase price, applicant credit scores, loan ceilings.
After Debbie’s presentation a discussion on various options and topics further clarified potential applications and joint participation with HFH-Rutland County. Our future relationship will be handled on a case by case basis. There is no immediate application of USDA financing for our current projects.
30 West Street, Fairhaven, VT (Project #1)
Chris and Eric led the discussion
42 Cleveland Avenue, Rutland City (Project #2)
Dick made a motion that this Corporate Resolution described above, in letter form, signed by Board Secretary, Andrew Salamon, be approved by the Board; forwarded by Chris to Brennen Duffy of the City of Rutland Redevelopment Authority immediately. It was seconded by Dave. It was unanimously approved by the Board.
Discussion led by Shaun
• The Board is seeking a Treasurer.
The next regular scheduled meeting is Tuesday, September 13th, @ 6:30pm.
Chris adjourned the meeting at 8:24pm.
Minutes respectfully submitted by Andrew Salamon.
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