HomeMy WebLinkAboutMansfield Housing Corp Minutes. 3/13/2012Board of Directors Mansfield Housing Corporation
March 13, 2012
Meeting Minutes
Directors Present: Gregory Joynt, Rod Oreste, Marilyn Lewis, Andres Gazzolo,1 Pell"NlierPs
Directors Excused: Dave Luca
The meeting opened at 6:35pm at Mansfield Town Hail.
General Business
The review of minutes from the December 6, 2011 and January 24, 2012 meetings were not available and
therefore postponed.
Chairman Oreste reported that correspondence was received from Attorney Costello stating that the Mansfield
Housing Corporation would most likely qualify as a social welfare organization under the 501 C4. Costello
recommended that the Board consult a tax advisor prior to proceeding under this chapter.
Motion:
Director Oreste to speak with Accountant Dave Doucette to ensure that there are no adverse
tax implications with a 501 C4 organization prior to proceeding with organizing under the 501
C4. (Gazzolo / Joynt 510/0).
Director Oreste presented an invoice for Attorney Costello's legal services in the amount of $195.
.Motion:
Authorize payment in the amount of $195.00 to Louison, Costello, Condon & PFAFF, LLP in the
amount of $195.00 for legal services performed in connection with researching the requirements
of a 501 C4 organization. (Gazzolo / Roberts 5/0/0).
Director Joynt presented a rough draft of a "Monthly Operating Budget" for a project consisting of two single
family units. Some budget estimates were provided by the Mansfield Housing Authority. The board discussed
rough estimates to acquire, renovate, rent, and turn the property over to the Mansfield Housing Authority to
manage. There was discussion about whether or not the MHC would be available and financially solvent to
own and manage property long term.
Future Meeting Dates: Not set.
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