Charla Jackson Peter

(502) 564-7630, ext. 454

I.

Call to Order

     William E. Summers, V

                          Chairman

A.  Confirmation of Quorum

B.  Confirmation of Press Notice

C.  Public Participation (Public may raise issues not already on the agenda; limited to five minutes per speaker.)

II.

Consideration/Approval of Minutes of the Meeting held April 22, 2010 (Motion)

      Chairman Summers

III.

Authorization to Renew the Personal Service Contracts with Stierle and Stierle, Attorneys-at-Law, and Goldberg Simpson, LLC, for Loan Servicing Legal Needs

Consideration of Resolution No. 17, Series of 2010 (Motion)

A RESOLUTION AUTHORIZING KENTUCKY HOUSING CORPORATION TO RENEW THE PERSONAL SERVICE CONTRACTS WITH STIERLE AND STIERLE, ATTORNEYS-AT-LAW, AND GOLDBERG SIMPSON, LLC, BOTH FOR LEGAL REPRESENTATION IN FORECLOSURE AND BANKRUPTCY PROCEEDINGS AND OTHER LITIGATION REGARDING KENTUCKY HOUSING CORPORATION’S SINGLE-FAMILY LOANS, FOR FISCAL YEAR 2011, EACH NOT TO EXCEED $660,000.

Nancy Myers

IV.

Authorization to Enter into a Contract with Reliant Asset Preservation Company II, Inc., and Safeguard Properties DBA Safeguard Real Estate Services

Consideration of Resolution No. 18, Series of 2010 (Motion)

A RESOLUTION AUTHORIZING KENTUCKY HOUSING CORPORATION TO ENTER INTO CONTRACTS WITH RELIANT ASSET PRESERVATION COMPANY II, INC., AND SAFEGUARD PROPERTIES DBA SAFEGUARD REAL ESTATE SERVICES FOR PROPERTY PRESERVATION AND INSPECTION SERVICES, FOR FISCAL YEAR 2011, IN AMOUNTS NOT TO EXCEED $1,681,000 AND $275,000, RESPECTIVELY.

Nancy Myers

V.

Authorization to Renew the Personal Service Contract with Autoscribe Corporation for the Provision of Automated Clearing House Check by Telephone Loan Payment Services

Consideration of Resolution No. 19, Series of 2010 (Motion)

A RESOLUTION AUTHORIZING STAFF TO RENEW THE PERSONAL SERVICE CONTRACT WITH AUTOSCRIBE CORPORATION FOR AUTOMATED CLEARING HOUSE CHECK BY TELEPHONE SERVICES FOR LOAN SERVICING CUSTOMERS, FOR FISCAL YEAR 2011, IN AN AMOUNT NOT TO EXCEED $5,400.

Nancy Myers

VI.

Authorization to Enter into a Personal Service Contract with Venture Encoding for Loan Servicing Payment Coupon Books

Consideration of Resolution No. 20, Series of 2010 (Motion)

A RESOLUTION AUTHORIZING KENTUCKY HOUSING CORPORATION TO ENTER INTO A PERSONAL SERVICE CONTRACT WITH VENTURE ENCODING, FOR FISCAL YEAR 2011, FOR PAYMENT COUPON BOOK PRODUCTION, IN AN AMOUNT NOT TO EXCEED $60,000.

Nancy Myers

VII.

Authorization to Continue Administering the Federal Weatherization Program

Consideration of Resolution No. 30, Series of 2010 (Motion)

A RESOLUTION AUTHORIZING KENTUCKY HOUSING CORPORATION TO CONTINUE RESPONSIBILITY FOR ADMINISTERING THE FEDERAL WEATHERIZATION PROGRAM FOR THE COMMONWEALTH OF KENTUCKY.

Richard L. McQuady

VIII.

Authorization to Renew the Revised Sole Source Contract with Community Action Kentucky to Implement the Weatherization Program in Kentucky

Consideration of Resolution No. 31, Series of 2010 (Motion)

A RESOLUTION AUTHORIZING KENTUCKY HOUSING CORPORATION TO RENEW THE REVISED EXISTING SOLE SOURCE CONTRACT WITH COMMUNITY ACTION KENTUCKY TO IMPLEMENT THE WEATHERIZATION PROGRAM IN KENTUCKY, IN AN AMOUNT NOT TO EXCEED $452,741.

Mark Offerman

IX.

Authorization to Enter a Memorandum of Agreement with the University of Kentucky Center on Drug and Alcohol Research for Inclusion of Recovery Kentucky Facilities, the Hope Center of Lexington, and The Healing Place in Louisville in the Kentucky Substance Abuse Treatment Outcome Study During Fiscal Year 2011

Consideration of Resolution No. 32, Series of 2010 (Motion)

A RESOLUTION AUTHORIZING STAFF TO ENTER A MEMORANDUM OF AGREEMENT WITH THE UNIVERSITY OF KENTUCKY CENTER ON DRUG AND ALCOHOL RESEARCH FOR INCLUSION OF RECOVERY KENTUCKY FACILITIES, THE HOPE CENTER OF LEXINGTON, AND THE HEALING PLACE IN LOUISVILLE IN THE KENTUCKY SUBSTANCE ABUSE TREATMENT OUTCOME STUDY, FOR FISCAL YEAR 2011, IN AN AMOUNT NOT TO EXCEED $40,800.

Mike Townsend

X.

Report of Action and Recommendations by Program/Policy Committee at Meeting held May 17, 2010

P.G. Peeples, Chairman

Adoption of Kentucky Housing Corporation Fiscal Year 2011 Annual Allocation Plan

Consideration of Resolution No. 25, Series of 2010 (Motion)

A RESOLUTION TO ADOPT THE KENTUCKY HOUSING CORPORATION 2011 ANNUAL ALLOCATION PLAN DETAILING THE SOURCES AND USES OF FUNDS NECESSARY TO ADMINISTER THE CORPORATION’S PROGRAMS AND INITIATIVES.

Richard L. McQuady

Susan Cottingham

XI.

Finance Report

A.  Report of Budgeted versus Actual Operating Fee Income and               

      Expenditures for the Nine Months-Ended March 31, 2010

Derek VanMeter

B.  Presentation of Kentucky Housing Corporation’s March 31, 2010 Financial Statements

John D. Herald

XII.

Authorization to Develop Financing Plan to Provide Funding for Homeownership Program

Consideration of Resolution No. 33, Series of 2010 (Motion)

A RESOLUTION AUTHORIZING STAFF TO DEVELOP A FINANCING PLAN TO PROVIDE CONTINUED FUNDING FOR THE CORPORATION’S HOMEOWNERSHIP PROGRAM.

John D. Herald

XIII.

Authorization to Develop a Financing Plan to Refund (1) the 1999 Series H, 2000 Series B, and 2000 Series C and (2) from Variable-Rate Bonds to Fixed-Rate Bonds the 2002 Series G, 2003 Series E, 2004 Series C, 2004 Series E, and 2004 Series I to Provide Economic Benefit to the Corporation

Consideration of Resolution No. 34, Series of 2010 (Motion)

A RESOLUTION AUTHORIZING THE DEVELOPMENT OF A FINANCING PLAN TO REFUND (1) THE 1999 SERIES H, 2000 SERIES B, AND 2000 SERIES C AND (2) FROM VARIABLE-RATE BONDS TO FIXED-RATE BONDS THE 2002 SERIES G, 2003 SERIES E, 2004 SERIES C, 2004 SERIES E, AND 2004 SERIES I TO PROVIDE ECONOMIC BENEFIT TO THE CORPORATION.

John D. Herald

XIV.

Report of Action and Recommendations by Finance Committee at Meeting held May 17, 2010

David A. Wombwell

A.  Adoption of Annual Operating Budget

     Consideration of Resolution No. 28, Series of 2010 (Motion)

A RESOLUTION TO ADOPT THE BUDGETED OPERATING EXPENDITURES FOR THE HOUSING REVENUE BOND RESOLUTION FOR THE PERIOD JULY 1, 2010 THROUGH JUNE 30, 2011.                                                                                                                                                                        

     Consideration of Resolution No. 29, Series of 2010 (Motion)

A RESOLUTION TO ADOPT THE ANNUAL BUDGET FOR THE HOUSING REVENUE BOND RESOLUTION FOR THE PERIOD JULY 1, 2010 THROUGH JUNE 30, 2011. 

Richard L. McQuady

Derek VanMeter

B.  Authorization to Renew the Personal Service Contract with Mountjoy Chilton Medley, LLP, for Audit of Financial Statements

     Consideration of Resolution No. 26, Series of 2010 (Motion)

A RESOLUTION AUTHORIZING STAFF TO RENEW THE PERSONAL SERVICE CONTRACT WITH THE ACCOUNTING FIRM OF MOUNTJOY CHILTON MEDLEY, LLP, FOR FISCAL YEAR 2011 TO PERFORM THE ANNUAL COMPREHENSIVE AUDIT OF THE FINANCIAL BOOKS AND RECORDS OF THE CORPORATION IN AN AMOUNT NOT TO EXCEED $53,487.

Derek VanMeter

C.  Request for Approval to Adopt Annual Audit Plan

     Consideration of Resolution No 27, Series of 2010 (Motion)

A RESOLUTION APPROVING THE ANNUAL AUDIT PLAN FOR KENTUCKY HOUSING CORPORATION WHICH OUTLINES INTERNAL AUDIT ACTIVITIES FOR FISCAL YEAR 2011 AS REQUIRED BY THE INTERNATIONAL STANDARDS FOR THE PROFESSIONAL PRACTICE OF INTERNAL AUDITING. 

Kevin R. Field

XV.

Approval and Adoption of a Revised Records Retention and Disposition Schedule

Consideration of Resolution No. 35, Series of 2010 (Motion)

A RESOLUTION ADOPTING THE REVISED RECORDS RETENTION AND DISPOSITION SCHEDULE FOR KENTUCKY HOUSING CORPORATION.

Rick Boggs

XVI.

Informational Items

Chairman Summers

A.  Delinquencies and Foreclosures Process Improvement Team Update

B.  Emergency Shelter Grant and Housing Opportunities for Persons With AIDS Funding Announcements

Brenda K. Weaver

Davey King

Chairman Summers