Kentucky Housing Corporation of Board of Directors to Meet

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 28, 2011 (Motion)

   Chairman Summers

III.

Report of Action and Recommendations by Executive Committee at Meeting held May 26, 2011

Chairman Summers

Richard L. McQuady

IV.

Adoption of Kentucky Housing Corporation Fiscal Year 2012 Annual Allocation Plan

Consideration of Resolution No. 26, Series of 2011 (Motion)

A RESOLUTION TO ADOPT THE KENTUCKY HOUSING CORPORATION 2012 ANNUAL ALLOCATION PLAN DETAILING THE SOURCES AND USES OF FUNDS NECESSARY TO ADMINISTER THE CORPORATION’S PROGRAMS AND INITIATIVES.

Richard L. McQuady

Susan Cottingham

V.

Report of Action and Recommendations by Finance Committee at Meeting held June 7, 2011

David Wombwell

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 Financial Statements for March 31, 2011 and April 30, 2011

Richard L. McQuady

VI.

Request for Approval to Adopt Annual Audit Plan

Consideration of Resolution No. 23, Series of 2011 (Motion)

A RESOLUTION APPROVING THE ANNUAL AUDIT PLAN FOR KENTUCKY HOUSING CORPORATION WHICH OUTLINES INTERNAL AUDIT ACTIVITIES FOR FISCAL YEAR 2012 AS REQUIRED BY THE INTERNATIONAL STANDARDS FOR THE PROFESSIONAL PRACTICE OF INTERNAL AUDITING.

Kevin R. Field

VII.

Adoption of Annual Operating Budget

Consideration of Resolution No. 24, Series of 2011 (Motion)

A RESOLUTION TO ADOPT THE BUDGETED OPERATING EXPENDITURES FOR THE HOUSING REVENUE BOND RESOLUTION FOR THE PERIOD JULY 1, 2011 THROUGH JUNE 30, 2012.

Consideration of Resolution No. 25, Series of 2011 (Motion)

A RESOLUTION TO ADOPT THE ANNUAL BUDGET FOR THE HOUSING REVENUE BOND RESOLUTION FOR THE PERIOD JULY 1, 2011 THROUGH JUNE 30, 2012. 

Derek VanMeter

Kevin L. Bradley

VIII.

Authorization to Open Line of Credit with Third Bank

Consideration of Resolution No. 27, Series of 2011 (Motion)

A RESOLUTION AUTHORIZING STAFF TO OPEN A LINE OF CREDIT WITH FIFTH THIRD BANK.

Kevin L. Bradley

IX.

Presentation of Secondary Market Mortgage Purchase Program

Kevin L. Bradley

X.

Authorization for the Corporation to Implement a Secondary Market Mortgage Purchase Program

Consideration of Resolution No. 28, Series of 2011 (Motion)

A RESOLUTION AUTHORIZING STAFF TO IMPLEMENT A SECONDARY MARKET MORTGAGE PURCHASE PROGRAM. 

Kevin L. Bradley

XI.

Authorization to Open Multiple Brokerage Accounts for the Purpose of Selling Mortgage-Backed Securities

Consideration of Resolution No. 29, Series of 2011 (Motion)

A RESOLUTION AUTHORIZING STAFF TO OPEN MULTIPLE BROKERAGE ACCOUNTS TO TRANSACT SECURITIES. 

Kevin L. Bradley

XII.

Authorization to Enter into a Personal Service Contract with Lerner, Sampson & Rothfuss, for Loan Servicing Legal Needs

Consideration of Resolution No. 30, Series of 2011 (Motion)

A RESOLUTION AUTHORIZING STAFF TO ENTER INTO A PERSONAL SERVICE CONTRACT WITH LERNER, SAMPSON & ROTHFUSS FOR LEGAL REPRESENTATION IN FORECLOSURE AND BANKRUPTCY PROCEEDINGS FOR KENTUCKY HOUSING CORPORATION’S SINGLE-FAMILY LOANS, FOR FISCAL YEAR 2012.

Lisa A. Beran

XIII.

Informational Items

Chairman Summers

A. Qualified Allocation Plan Update

Rob Ellis

B. Multifamily Funding Announcements

Rob Ellis

C. Emergency Shelter Grant Funding Announcements

Davey King

XIV.

Items from the Board or Staff (not on the agenda)

XV.

Adjournment (Motion)

Chairman Summers