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File #: T96    Version: 0
Type: Travaux Resolution Status: Passed
File created: 1/11/2019 In control: TRAVAUX INC. BOARD OF DIRECTORS
On agenda: 1/16/2019 Final action: 1/17/2019
Effective date:    
Title: Resolution approving Travaux’s Business Plan and Annual Operating Budget for the Year 2019
Sponsors: THE CHAIR
Attachments: 1. Travaux 2019 Business Plan & Operating Budget
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
1/17/20190 TRAVAUX INC. BOARD OF DIRECTORS ADOPTED

Minutes note: Fernando Aniban, HACM’s Chief Financial Office, explained that in 2016, the Bronner Group was commissioned to develop the initial business plan for Travaux when exploring how to operationalize the new organization. The business began in 2017 with an emphasis on the construction component of the plan. Since then, the plan has been fine tuned. The plan being presented today is a draft for the board’s input. He noted the mission/vision of the organization and Travaux’s lines of business, which in addition to construction, includes real estate development, led by Scott Simon, and property and asset management, led by Gregory Anderson. Mr. Aniban walked the Directors through the rest of the plan and the proposed budget provided. He suggested that the Development and Construction Committee of the board look at each of the projects in greater detail. Scott Simon, Travaux Vice President of Development, shared a brief summary of the Hmong-American Peace Academy (HAPA) consulting project. Kaylin Nuss, HACM Director of Strategic Initiatives, provided background on the Rental Assistance Demonstration (RAD) program and how HACM’s pursuit of the conversion of its public housing units under the RAD program could result in the renovation of the units, if RAD is combined with a variety of other funding sources, like Opportunity Zones or Low Income Housing Tax Credits, for example. If successful, these renovations are expected to be a part of Travaux’s activities in coming years. Director Pérez described a variety of HUD and other programs that HACM continues to look at for funding or procedural relief that could impact HACM’s plans for renovation. He also mentioned that S&P recently affirmed their A+ rating for HACM, which can be a positive when pursuing funding. The creation of Travaux was a positive factor in S&P’s review. There was further discussion about potential opportunities within the state for Travaux to assist smaller Housing Authorities with their own considerations of RAD, small developments moving out of their tax credit periods, with an area’s loss of affordable housing and the increased need for workforce housing, or with broader neighborhood development with integrated partnerships. The recent AIA HUD Secretary’s Award that Westlawn received has brought a nationwide focus to the work done there. The Directors asked various questions about the plan and budget, and provided feedback and guidance about what was presented. The Development and Construction Committee will be diving further into the information. A strategic planning session with the board may be suggested.
Pass6:1 Action details Meeting details Not available

Number

T96

 

Version

Original

 

Reference

 

Sponsor

The President

 

Title

Resolution approving Travaux’s Business Plan and Annual Operating Budget for the Year 2019

 

Analysis

 

Body

WHEREAS, the Travaux, Inc. currently operates four (4) lines of business; Development, Construction, Property Management and Development Consulting; and

 

WHEREAS, the President and Management proposes a Business Plan and Operating Budget for the year 2019, herein attached; now, therefore, be it

 

RESOLVED, by the Board of Directors of Travaux, Inc  that the Business Plan and Operating Budget for 2019 be and is hereby approved.

 

RESOLVED FURTHER, by the Board of Directors that the President and management is authorized to execute that Business Plan and Operating Budget for 2019.

 

Requestor

 

Drafter

Accounting, Jnauary 3, 2010