Held At: Fox Hill Gardens Community Room th Street Hoboken, New Jersey. Richard D. Fox, Hamilton Management Solutions, LLC

Transcription

1 X REGULAR MEETING OF THE BOARD : Thursday OF COMMISSIONERS OF THE HOUSING : October 9, 204 AUTHORITY OF THE CITY OF HOBOKEN : 7 p.m X Held At: Fox Hill Gardens Community Room 3 3th Street Hoboken, New Jersey B E F O R E: Robert A. DiVincent, Interim Director Chairwoman Dana Wefer Vice Chair David Mello Commissioner Robert Davis, III Commissioner Jean Rodriguez Commissioner Judith Burrell Commissioner James Sanford Commissioner David Dening A P P E A R A N C E S: CHARLES P. DAGLIAN, ESQ. Attorney for the Board. A L S O P R E S E N T: Emil Kotherithara, CFO Richard D. Fox, Hamilton Management Solutions, LLC PHYLLIS T. LEWIS CERTIFIED SHORTHAND REPORTER CERTIFIED REALTIME REPORTER Phone: (732) of 8 sheets Page to of 72 0/4/204 03:50:24 PM

2 2 CHAIRWOMAN WEFER: All right. We are 4 COMMISSIONER RODRIGUEZ: Here. 2 going to bring the meeting to order. 2 INTERIM EXECUTIVE DIRECTOR: 3 Please rise to salute the flag. 3 Commissioner Sanford? 4 (Pledge of Allegiance recited) 4 COMMISSIONER SANFORD: Here, 5 I would like to advise those present 5 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 6 that notice of this Regular Meeting of the Housing 6 And, Chairwoman Wefer -- Wefer. I always say it 7 Authority of the City of Hoboken to be held at Fox 7 wrong. 8 Hill Gardens, 3 3th Street, Hoboken, New Jersey, 8 CHAIRWOMAN WEFER: Wefer. 9 has been provided to the public in accordance with 9 Here. 0 the provisions of the Open Public Meetings Act. 0 So the first resolution before us Notice of this Regular Monthly October tonight is the resolution to accept the minutes of 2 Board Meeting has been scheduled for Thursday, 2 the Regular Meeting of Thursday, September 8th, 3 October 9th, 204, was sent to The Jersey Journal and The Star-Ledger on Wednesday, October st, 204, 4 Is there a motion? 5 and notification to the general public of said 5 COMMISSIONER DENING: Motion. 6 meeting was sent to the City Clerk of Hoboken on 6 COMMISSIONER SANFORD: Second. 7 Wednesday, October st, 204, with a copy of the 7 CHAIRWOMAN WEFER: Do any Commissioners 8 agenda to be posted on the bulletin boards in City 8 wish to comment or have any questions on this 9 Hall, the Hoboken Library and the Hoboken Police 9 resolution? 20 Department. 20 Okay. Ready to call the vote. 2 I direct the minutes to state that I 2 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 22 have announced that adequate notice of this meeting 22 Okay. 23 has been given as required by the Open Public 23 Commissioner Burrell? 24 Meetings Act. 24 COMMISSIONER BURRELL: Yes. 25 The first resolution before us is a 25 INTERIM EXECUTIVE DIRECTOR: 3 motion to accept the meeting minutes of the Regular 5 Commissioner Davis? 2 Meeting of Thursday, September 8th, COMMISSIONER DAVIS: Abstain. 3 Is there a motion? 3 INTERIM EXECUTIVE DIRECTOR: 4 VICE CHAIR MELLO: Motion. 4 Commissioner Dening? 5 COMMISSIONER SANFORD: Second. 5 COMMISSIONER DENING: Abstain. 6 CHAIRWOMAN WEFER: Do any 6 INTERIM EXECUTIVE DIRECTOR: 7 Commissioners -- 7 Commissioner Mello? 8 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 8 VICE CHAIR MELLO: Abstain, 9 You have to do the roll call first. 9 INTERIM EXECUTIVE DIRECTOR: 0 CHAIRWOMAN WEFER: -- oh, I am so 0 Commissioner Rodriguez? sorry. Yes, we need to do the roll call. COMMISSIONER RODRIGUEZ: Yes. 2 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 2 INTERIM EXECUTIVE DIRECTOR: 3 Commissioner Burrell? 3 Commissioner Sanford? 4 COMMISSIONER BURRELL: Here. 4 COMMISSIONER SANFORD: Yes. 5 INTERIM EXECUTIVE DIRECTOR: 5 INTERIM EXECUTIVE DIRECTOR: Chairwoman 6 Commissioner Davis? 6 Wefer? 7 COMMISSIONER DAVIS: Here. 7 CHAIRWOMAN WEFER: Yes. 8 INTERIM EXECUTIVE DIRECTOR: 8 The next resolution before us tonight 9 Commissioner Dening? 9 is the motion to accept the minutes of the Special 20 COMMISSIONER DENING: Here. 20 Meeting of Tuesday, August 26th, INTERIM EXECUTIVE DIRECTOR: 2 Is there a motion? 22 Commissioner Mello? 22 VICE CHAIR MELLO: Motion. 23 VICE CHAIR MELLO: Present. 23 COMMISSIONER DENING: Second. 24 INTERIM EXECUTIVE DIRECTOR: 24 CHAIRWOMAN WEFER: Do any Commissioners 25 Commissioner Rodriguez? 25 have any questions or comments on this? 0/4/204 03:50:24 PM Page 2 to 5 of 72 2 of 8 sheets

3 6 COMMISSIONER RODRIGUEZ: Excuse me. 8 INTERIM EXECUTIVE DIRECTOR: Yes, he 2 INTERIM EXECUTIVE DIRECTOR: 2 did. 3 Commissioner Burrell -- Commissioner Rodriguez, you 3 CHAIRWOMAN WEFER: Were there any more 4 have a question? 4 comments on this? 5 COMMISSIONER RODRIGUEZ: Question. 5 Okay. I think we are ready for the 6 Are we going to be getting our minutes 6 vote. 7 like this from now on? 7 Commissioner Burrell? 8 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 8 COMMISSIONER BURRELL: Yes. 9 Yes. 9 INTERIM EXECUTIVE DIRECTOR: 0 COMMISSIONER DAVIS: We're not going to 0 Commissioner Davis? get the full transcripts? COMMISSIONER DAVIS: Yes. 2 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 2 INTERIM EXECUTIVE DIRECTOR: 3 Full transcripts are available on 3 Commissioner Dening? 4 request. 4 COMMISSIONER DENING: Yes. 5 COMMISSIONER RODRIGUEZ: I would like 5 INTERIM EXECUTIVE DIRECTOR: 6 to request one. 6 Commissioner Mello? 7 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 7 VICE CHAIR MELLO: Yes, 8 No problem. 8 INTERIM EXECUTIVE DIRECTOR: 9 COMMISSIONER DAVIS: Make that two. 9 Commissioner Rodriguez? 20 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 20 COMMISSIONER RODRIGUEZ: Yes. 2 This makes it easier I think moving 2 INTERIM EXECUTIVE DIRECTOR: 22 forward as far as voting on it, because you are 22 Commissioner Sanford? 23 actually voting on the contents of the meeting. You 23 COMMISSIONER SANFORD: Yes. 24 are voting on the resolutions and things like that. 24 INTERIM EXECUTIVE DIRECTOR: Chairwoman 25 All of the extra items that you want to 25 Wefer? 7 go back and refer to, the full minute transcript 9 CHAIRWOMAN WEFER: Yes. 2 will be available. 2 The next motion before us tonight is to 3 VICE CHAIR MELLO: It does not apply 3 accept the minutes of the Regular Meeting of 4 that you are voting on the veracity of every single 4 Thursday, August 4th, word in the transcript as opposed to this. You're 5 Is there a motion? 6 just voting on the veracity -- 6 VICE CHAIR MELLO: Motion. 7 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 7 COMMISSIONER SANFORD: Motion. 8 That's right. 8 CHAIRWOMAN WEFER: Is there a second? 9 It makes it very difficult for someone 9 VICE CHAIR MELLO: Second. 0 to vote, because it forces the Commissioners to read 0 CHAIRWOMAN WEFER: Do any Commissioners a transcript word for word, and an error could be have any questions or comments on this? 2 made in the translation, and we really want to vote 2 COMMISSIONER RODRIGUEZ: Didn't you 3 on what went on in the meeting. We want to be able 3 just do that? 4 to publish what went on in the meeting. 4 CHAIRWOMAN WEFER: I did August 26th. 5 But the transcripts will still be there 5 MR. DAGLIAN: This is August 4th. 6 for you to double check and verify anything that may 6 CHAIRWOMAN WEFER: It is August 4th. 7 have been said or done. 7 It is C. 8 COMMISSIONER DENING: I would like to 8 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 9 thank you for getting the minutes in this form. We 9 Do you have C? 20 asked for this for a while, and thank you. 20 CHAIRWOMAN WEFER: Are there any 2 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 2 questions or comments on it? 22 You are welcome. 22 COMMISSIONER SANFORD: No. 23 CHAIRWOMAN WEFER: And I know that Emil 23 CHAIRWOMAN WEFER: I think we are ready 24 put in a lot of hard work into this, obviously to 24 for the vote. 25 catch up. 25 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 3 of 8 sheets Page 6 to 9 of 72 0/4/204 03:50:24 PM

4 0 2 Commissioner Burrell? Okay. The next resolution is to accept 2 COMMISSIONER BURRELL: Yes. 2 the regular -- the minutes of the Regular Meeting of 3 INTERIM EXECUTIVE DIRECTOR: 3 Thursday, July 0th, Commissioner Davis? 4 Is there a motion? 5 COMMISSIONER DAVIS: Yes. 5 VICE CHAIR MELLO: Motion. 6 INTERIM EXECUTIVE DIRECTOR: 6 COMMISSIONER SANFORD: Second. 7 Commissioner Dening? 7 CHAIRWOMAN WEFER: Do any Commissioners 8 COMMISSIONER DENING: Yes. 8 have any questions or comments on this? 9 INTERIM EXECUTIVE DIRECTOR: 9 I think we are ready for the vote. 0 Commissioner Mello? 0 INTERIM EXECUTIVE DIRECTOR DI VINCENT: VICE CHAIR MELLO: Yes. Commissioner Burrell? 2 INTERIM EXECUTIVE DIRECTOR: 2 COMMISSIONER BURRELL: Yes. 3 Commissioner Rodriguez? 3 INTERIM EXECUTIVE DIRECTOR: 4 COMMISSIONER RODRIGUEZ: Yes. 4 Commissioner Davis? 5 INTERIM EXECUTIVE DIRECTOR: 5 COMMISSIONER DAVIS: Yes. 6 Commissioner Sanford? 6 INTERIM EXECUTIVE DIRECTOR: 7 COMMISSIONER SANFORD: Yes. 7 Commissioner Dening? 8 INTERIM EXECUTIVE DIRECTOR: Chairwoman 8 COMMISSIONER DENING: Yes. 9 Wefer? 9 INTERIM EXECUTIVE DIRECTOR: 20 CHAIRWOMAN WEFER: Yes. 20 Commissioner Mello? 2 The next resolution before us tonight 2 VICE CHAIR MELLO: Yes. 22 is a motion to accept the minutes of the Special 22 INTERIM EXECUTIVE DIRECTOR: 23 Meeting on Monday, August 4th, Commissioner Rodriguez? 24 Is there a motion? 24 COMMISSIONER RODRIGUEZ: Oh, yes. 25 VICE CHAIR MELLO: Motion. 25 INTERIM EXECUTIVE DIRECTOR: COMMISSIONER SANFORD: Second. 3 Commissioner Sanford? 2 CHAIRWOMAN WEFER: Do any Commissioners 2 COMMISSIONER SANFORD: Yes. 3 have any questions or comments on these minutes? 3 INTERIM EXECUTIVE DIRECTOR: Chairwoman 4 I think we are ready for the vote. 4 Wefer? 5 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 5 CHAIRWOMAN WEFER: Yes. 6 Commissioner Burrell? 6 The next resolution before us tonight 7 COMMISSIONER BURRELL: Yes. 7 is to accept the minutes of the Special Meeting of 8 INTERIM EXECUTIVE DIRECTOR: 8 Thursday, July 2nd, Commissioner Davis? 9 Is there a motion? 0 COMMISSIONER DAVIS: Yes. 0 VICE CHAIR MELLO: Motion. INTERIM EXECUTIVE DIRECTOR: COMMISSIONER SANFORD: Second. 2 Commissioner Dening? 2 CHAIRWOMAN WEFER: Do any Commissioners 3 COMMISSIONER DENING: Yes. 3 have any questions or comments on this? 4 INTERIM EXECUTIVE DIRECTOR: 4 Okay. We're ready for the vote. 5 Commissioner Mello? 5 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 6 VICE CHAIR MELLO: Yes. 6 Commissioner Burrell? 7 INTERIM EXECUTIVE DIRECTOR: 7 COMMISSIONER BURRELL: Abstain. 8 Commissioner Rodriguez? 8 INTERIM EXECUTIVE DIRECTOR: 9 COMMISSIONER RODRIGUEZ: Yes. 9 Commissioner Davis? 20 INTERIM EXECUTIVE DIRECTOR: 20 COMMISSIONER DAVIS: Yes. 2 Commissioner Sanford? 2 INTERIM EXECUTIVE DIRECTOR: 22 COMMISSIONER SANFORD: Yes. 22 Commissioner Dening? 23 INTERIM EXECUTIVE DIRECTOR: Chairwoman 23 COMMISSIONER DENING: Yes. 24 Wefer? 24 INTERIM EXECUTIVE DIRECTOR: 25 CHAIRWOMAN WEFER: Yes. 25 Commissioner Mello? 0/4/204 03:50:24 PM Page 0 to 3 of 72 4 of 8 sheets

5 4 6 VICE CHAIR MELLO: Yes. transcript, so that is my comment on this. 2 INTERIM EXECUTIVE DIRECTOR: 2 Do any Commissioners have any questions 3 Commissioner Rodriguez? 3 or comments? 4 COMMISSIONER RODRIGUEZ: Yes. 4 VICE CHAIR MELLO: Are you making a 5 INTERIM EXECUTIVE DIRECTOR: 5 motion to table? 6 Commissioner Sanford? 6 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 7 COMMISSIONER SANFORD: Yes. 7 What you could do, if you like, we 8 INTERIM EXECUTIVE DIRECTOR: Chairwoman 8 could vote with your comments to be made after 9 Wefer? 9 depending -- if no one else -- if we have enough to 0 CHAIRWOMAN WEFER: Yes. 0 vote for it affirmative, rather than table it, we The next one before us tonight is the can still go back and check, and if there are any 2 motion to accept the minutes of the emergency 2 changes to be made, the changes could be reflected. 3 meeting of Thursday, June 26th, VICE CHAIR MELLO: Can we table it? 4 Is there a motion? 4 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 5 VICE CHAIR MELLO: Motion. 5 You are welcome to table it also. 6 COMMISSIONER SANFORD: Second. 6 CHAIRWOMAN WEFER: On this one, I had 7 CHAIRWOMAN WEFER: Do any Commissioners 7 like quite a few -- 8 have any questions or comments on this? 8 INTERIM EXECUTIVE DIRECTOR: Is there 9 Ready for the vote. 9 something of any substance? 20 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 20 CHAIRWOMAN WEFER: -- questions -- 2 Commissioner Burrell? 2 VICE CHAIR MELLO: So motion to 22 COMMISSIONER BURRELL: Yes. 22 table INTERIM EXECUTIVE DIRECTOR: 23 CHAIRWOMAN WEFER: I'm going to second 24 Commissioner Davis? 24 the motion to table. 25 COMMISSIONER DAVIS: Yes. 25 VICE CHAIR MELLO: -- to a date certain 5 INTERIM EXECUTIVE DIRECTOR: 7 at the next meeting. 2 Commissioner Dening? 2 CHAIRWOMAN WEFER: Yes. I can 3 COMMISSIONER DENING: Yes. 3 definitely look at it before then. 4 INTERIM EXECUTIVE DIRECTOR: 4 VICE CHAIR MELLO: Okay. 5 Commissioner Mello? 5 CHAIRWOMAN WEFER: The motion on the 6 VICE CHAIR MELLO: Yes. 6 floor is to table these until the next meeting. I 7 INTERIM EXECUTIVE DIRECTOR: 7 had a number of questions, and I didn't get to go 8 Commissioner Rodriguez? 8 back and look at the transcript. 9 COMMISSIONER RODRIGUEZ: Yes. 9 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 0 INTERIM EXECUTIVE DIRECTOR: 0 Did we get a second? Commissioner Sanford? CHAIRWOMAN WEFER: Commissioner Mello 2 COMMISSIONER SANFORD: Yes. 2 seconded it. 3 INTERIM EXECUTIVE DIRECTOR: Chairwoman 3 VICE CHAIR MELLO: I made the motion, 4 Wefer? 4 and you seconded it. 5 CHAIRWOMAN WEFER: Yes. 5 CHAIRWOMAN WEFER: Oh, I seconded it. 6 All right. The next motion before us 6 Okay. 7 tonight is a motion to accept the minutes of the 7 Do any Commissioners have any comments 8 Regular Meeting of Thursday, June 2th, on the motion to table? 9 Is there a motion? 9 COMMISSIONER DAVIS: Nope. 20 VICE CHAIR MELLO: Motion. 20 CHAIRWOMAN WEFER: Okay. Director, 2 COMMISSIONER DENING: Second. 2 please call the vote. 22 CHAIRWOMAN WEFER: I would like to go 22 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 23 back and review the transcript on this before I vote 23 Commissioner Burrell? 24 on this, because there were a few questions I had, 24 COMMISSIONER BURRELL: Yes. 25 and I did not have time to go back and look at the 25 INTERIM EXECUTIVE DIRECTOR: 5 of 8 sheets Page 4 to 7 of 72 0/4/204 03:50:24 PM

6 8 20 Commissioner Davis? This finalizes Hauser, and then Finnet (phonetic) 2 COMMISSIONER DAVIS: Yes. 2 has started work and is getting the boilers ready 3 INTERIM EXECUTIVE DIRECTOR: 3 for the winter season. 4 Commissioner Dening? 4 CHAIRWOMAN WEFER: Okay. 5 COMMISSIONER DENING: Yes. 5 VICE CHAIR MELLO: I have a question, 6 INTERIM EXECUTIVE DIRECTOR: 6 too. 7 Commissioner Mello? 7 CHAIRWOMAN WEFER: Sure. 8 VICE CHAIR MELLO: Yes. 8 VICE CHAIR MELLO: So I think this was 9 INTERIM EXECUTIVE DIRECTOR: 9 raised before, and maybe you could provide us some 0 Commissioner Rodriguez? 0 insight with all of your experience. COMMISSIONER RODRIGUEZ: Yes. So -- when a deposit is returned, it is 2 INTERIM EXECUTIVE DIRECTOR: 2 as if a debit is on the budget when those deposits 3 Commissioner Sanford? 3 return, but where is the credit when the deposit 4 COMMISSIONER SANFORD: Yes. 4 initially is made? 5 INTERIM EXECUTIVE DIRECTOR: Chairwoman 5 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 6 Wefer? 6 Normally it is deposited in -- you 7 CHAIRWOMAN WEFER: Yes. 7 deposit it in the general fund? 8 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 8 MR. KOTHERITHARA: Correct. 9 This is tabled. 9 So I mean, this is like a community 20 CHAIRWOMAN WEFER: Okay. The next item 20 room refund. What happens is if a tenant wants to 2 of business before us tonight is Resolution 2 rent a community room, they pay $200 initially, so , a resolution authorizing the payment of 22 debiting the operating cash account, and we are 23 the monthly list of bills for the Hoboken Housing 23 crediting basically like the community room income. 24 Authority. 24 The credit is going to income. 25 Is there a motion? 25 Then when that community room is 9 VICE CHAIR MELLO: Motion. 2 inspected, it is satisfactory, we return a hundred 2 CHAIRWOMAN WEFER: Is there a second? 2 dollars of that, so then we are reducing the cash 3 COMMISSIONER SANFORD: Second. 3 and crediting the cash there, and we're debiting 4 CHAIRWOMAN WEFER: Do any Commissioners 4 that income account. 5 have any questions or comments on this? 5 VICE CHAIR MELLO: I understand how 6 I have two questions. 6 that works. Just for transparency, I am curious as 7 INTERIM EXECUTIVE DIRECTOR: Yes. 7 to why you don't have an equal level of itemization 8 CHAIRWOMAN WEFER: The first one is 8 for the money coming in when the money is flowing 9 with regard to the Hauser Brothers, number -- where 9 out. 0 did I see that -- number 4 under monthly 0 MR. DAGLIAN: Because you don't have maintenance. Was this done -- we don't have a income. You are seeing only the list of bills. You 2 contract with them, though, do we? This was done 2 don't see the income -- 3 under a -- 3 COMMISSIONER DENING: Why don't we see 4 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 4 that? 5 No, no. This is all prior work -- all 5 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 6 prior work that was done during the contract prior 6 Why don't you see the income of the 7 to me arriving ? 8 CHAIRWOMAN WEFER: Oh. 8 VICE CHAIR MELLO: We can always verify 9 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 9 that people are getting deposit returns who made the and Luis has confirmed that the work 20 initial deposit, correct? 2 was completed, and it's just bringing us current. 2 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 22 CHAIRWOMAN WEFER: Okay. Do you know 22 Well, I think if we showed -- I mean, 23 if we have more outstanding bills for Hauser? 23 if we showed every deposit made in the Authority, I 24 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 24 mean, this list of bills and deposits could get 25 This takes care of Hauser completely. 25 extensive. Anyone questioning any one of the 0/4/204 03:50:24 PM Page 8 to 2 of 72 6 of 8 sheets

7 22 deposits, we can take out an itemization. I don't 24 But this is easy to reference, to refer 2 think there is a need, especially on a security 2 to, so we will do the deposit and return -- 3 deposit, it is so minimal, I don't think there is a 3 VICE CHAIR MELLO: That works for me. 4 need to list it. 4 MR. DAGLIAN: Just do a paren on each 5 If you want to show what is deposited 5 one when it comes in and goes out. 6 every time someone reserves a room, but if you want 6 VICE CHAIR MELLO: If it doesn't in the 7 to show a deposit, we can always add a line item. I 7 future -- 8 have no problem with showing you -- 8 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 9 VICE CHAIR MELLO: Typically it gets 9 We will see how it works. We will try 0 refunded, so it probably wouldn't be much. It might 0 it one month, and we'll see how it works. be the same size as the refund list -- VICE CHAIR MELLO: -- that sounds good. 2 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 2 It sounds good. 3 Well, only half of it gets refunded. 3 CHAIRWOMAN WEFER: I have one more 4 Some of it is being kept. 4 question. 5 VICE CHAIR MELLO: -- well, no, but 5 INTERIM EXECUTIVE DIRECTOR: Yes. 6 line item-wise, it would just be -- 6 CHAIRWOMAN WEFER: My other question 7 INTERIM EXECUTIVE DIRECTOR: It would 7 was on the number under the monthly contractual 8 be -- 8 expenses, the payments that we are making on the 9 VICE CHAIR MELLO: -- it might not be 9 copiers, is that -- is this good for us, because it 20 any longer at all seems like an awful lot of money. I am just 2 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 2 wondering if this is a contract that -- I mean, What we can payments of $ VICE CHAIR MELLO: -- unless the people 23 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 24 depositing You have a lot of copy machines INTERIM EXECUTIVE DIRECTOR: -- what 25 CHAIRWOMAN WEFER: Okay. 23 we -- what we can show is date of deposit and date 25 INTERIM EXECUTIVE DIRECTOR: -- it 2 of return on each, if you'd like to see -- 2 takes care of a lot of equipment, and this is a 3 VICE CHAIR MELLO: Yes. I think that 3 state contracted vendor -- 4 would be best just for -- 4 CHAIRWOMAN WEFER: Okay. 5 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 5 INTERIM EXECUTIVE DIRECTOR: -- and I 6 -- this way you see when the deposit 6 don't think you have a problem with that. I think 7 was made, and you will also know if we didn't return 7 it is in line with what other budgets are for other 8 the deposit and kept it because, you know -- 8 Housing Authorities. 9 VICE CHAIR MELLO: Right, which is also 9 CHAIRWOMAN WEFER: And we will own the 0 a good piece of information to be transparent -- 0 copiers at the end of it? INTERIM EXECUTIVE DIRECTOR DI VINCENT: INTERIM EXECUTIVE DIRECTOR DI VINCENT: 2 -- so in the future what we will do is 2 At the end of the -- at the end of the 3 put the date of the deposit, and how much was 3 lease, normally you would have the option of owning 4 returned, and then the date of return -- 4 them, but in most cases, they roll into another 5 MR. DAGLIAN: And the date the deposit 5 lease because copy machines advance so much and, you 6 was returned. 6 know -- 7 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 7 VICE CHAIR MELLO: -- and they also 8 -- and the date the deposit was 8 break down. 9 returned. We will keep it on the same sheet, so we 9 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 20 don't have to expand when you show the deposit and and they break down. Once they get 2 return -- 2 past a certain age, once they get past so many 22 MR. KOTHERITHARA: When you are signing 22 copies, it pays to get a new one. 23 the checks, you are also seeing behind that. 23 So normally at the end of the lease, we 24 There's a copy will probably roll it into another lease. That is 25 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 25 what I have always done in the past, unless you get 7 of 8 sheets Page 22 to 25 of 72 0/4/204 03:50:24 PM

8 26 28 a copy machine that gets very little use in some millions on utilities. 2 locations. Sometimes I take the better of all of 2 MR. KOTHERITHARA: So utility expenses, 3 the copy machines and roll that into a location that 3 they don't all come in at the same time. All amps, 4 gets the most use and then -- 4 all buildings, the bill does not come unfortunately 5 VICE CHAIR MELLO: Or one that had 5 at the same time. That's why you are seeing $35,000 6 abnormal proficiency not to break down -- 6 when in some months you are seeing, say, for 7 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 7 example, $600,000 in utility costs, like the North 8 -- not to break down. But in most 8 Hudson Sewerage Authority, United Water, they both 9 cases consistently after three or four years, they 9 bill us on a quarterly basis, so we get these large 0 are always breaking down. 0 chunks. CHAIRWOMAN WEFER: You have Mr. Katchen COMMISSIONER DENING: Could you 2 to thank for that question, because in our training 2 estimate how much utilities we have outstanding 3 course, he told us a story about a Housing Authority 3 right now? 4 spending too much on copiers, so -- 4 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 5 INTERIM EXECUTIVE DIRECTOR: Oh, yes. 5 We are current with most companies. 6 CHAIRWOMAN WEFER: -- I was like all 6 COMMISSIONER DENING: We are not more 7 right, I should ask about that. I remembered 7 than learning that in my course. 8 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 9 COMMISSIONER SANFORD: Just a quick 9 No, no, not more than 30 days, no. We 20 related question. 20 are current with all utilities. 2 Could you send us a list of the 2 I mean, we don't want to get to a 22 contract end dates for these monthly contractual 22 point, and years ago, we could tell stories how we 23 expenses? 23 walked into a Housing Authority in Hoboken, where we 24 INTERIM DIRECTOR DI VINCENT: What I 24 owed a million dollars to Public Service. You are 25 was in the process of doing, just so you know, I am 25 not in that position. You are current with all of 27 putting together, and I will get everyone a copy of 29 your utilities. 2 it -- 3 MR. DAGLIAN: It says it on that one 4 anyway, 2 of 60 payments. 5 COMMISSIONER SANFORD: Right. 6 I would like just like -- 7 INTERIM EXECUTIVE DIRECTOR: I am 8 putting in -- I'm putting in a contract vendor 9 list, so you will get a copy. You will get a start 0 date and a finish date on all contracts that the Housing Authority has, and everybody will get a 2 copy. 3 COMMISSIONER SANFORD: Perfect. 4 Thank you. 5 CHAIRWOMAN WEFER: Do any other 6 Commissioners have questions or comments? 7 COMMISSIONER DENING: Yeah. 8 CHAIRWOMAN WEFER: Mr. Dening? 9 COMMISSIONER DENING: I wonder if the 20 CFO could discuss the utility expenses. 2 Are we -- I see these are only for some 22 amps, these utility expenses. 23 Are we up-to-date on our utility 24 expenses? 25 Like it is $35,000, but we spend 2 COMMISSIONER DENING: Okay. 3 CHAIRWOMAN WEFER: Do any other 4 Commissioners have questions or comments? 5 COMMISSIONER SANFORD: No. 6 CHAIRWOMAN WEFER: I think we are ready 7 for the vote. 8 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 9 Commissioner Burrell? 0 COMMISSIONER BURRELL: Yes. INTERIM EXECUTIVE DIRECTOR: 2 Commissioner Davis? 3 COMMISSIONER DAVIS: Yes. 4 INTERIM EXECUTIVE DIRECTOR: 5 Commissioner Dening? 6 COMMISSIONER DENING: Yes. 7 INTERIM EXECUTIVE DIRECTOR: 8 Commissioner Mello? 9 VICE CHAIR MELLO: Yes. 20 INTERIM EXECUTIVE DIRECTOR: 2 Commissioner Rodriguez? 22 COMMISSIONER RODRIGUEZ: Yes. 23 INTERIM EXECUTIVE DIRECTOR: 24 Commissioner Sanford? 25 COMMISSIONER SANFORD: Yes. 0/4/204 03:50:24 PM Page 26 to 29 of 72 8 of 8 sheets

9 30 INTERIM EXECUTIVE DIRECTOR: Chairwoman 32 units, which have been not secured since Sandy. 2 Wefer? 2 We are in the process of putting a spec 3 CHAIRWOMAN WEFER: Yes. 3 together, which should be done, and we are in the 4 The next resolution before us tonight 4 zero threshold, so all of our specs are going to HUD 5 is Resolution , a resolution approving the 5 for review, so it is delaying us somewhat, but I am 6 amps budgets for the Housing Authority of the City 6 hoping to get on line. 7 of Hoboken. 7 We had some proposals. The proposals 8 Is there a motion? 8 came in high enough that we know we need to go out 9 VICE CHAIR MELLO: Motion. 9 for bids, and I am hoping before the end of the year 0 CHAIRWOMAN WEFER: Is there a second? 0 to have that contract awarded, so that we can then COMMISSIONER DENING: Second. secure those doors, and that is a big part of 2 CHAIRWOMAN WEFER: Do any Commissioners 2 security, so it will solve a lot of the problems 3 have questions or comments on this? 3 going forward. 4 MR. KOTHERITHARA: Just a quick 4 CHAIRWOMAN WEFER: Do any other 5 comment. There was an amended version that was 5 Commissioners have questions or comments on the 6 distributed -- it should have been distributed to 6 budget? 7 everyone. 7 COMMISSIONER DENING: Yes. 8 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 8 CHAIRWOMAN WEFER: Commissioner Dening? 9 Okay. In the amended version, I had 9 COMMISSIONER DENING: Yes. I have a 20 some discussions with the Commissioners, and they 20 question. 2 were concerned about security measures, and we 2 So my understanding is that the 22 amended the budget to allow for a 22 utilities for the amp budgets are based on actual 23 hundred-thousand-dollar line item for security to be 23 numbers from the previous year, is that correct? 24 decided at a later date how we are going to use it, 24 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 25 and we can have those discussions. 25 Previous bills going to the prior year, 3 CHAIRWOMAN WEFER: I appreciate us 33 yes. 2 getting that in there. I know that that was 2 COMMISSIONER DENING: All right. 3 important to me, and this is sort of related and 3 So these numbers to me, hopefully they 4 sort of unrelated, but when I talk to people at the 4 don't make sense to me. For instance, Amp 's water 5 Housing Authority, I hear a lot of concerns, but 5 budget is $430,000, but the sewer budget is 6 most of them seem to be security related, and so I 6 $845, am hoping that, Commissioner Rodriguez, some time in 7 Now, the sewer budget, my understanding 8 the near future we can have a security subcommittee 8 is that is actually based off the water's numbers. 9 meeting, and I know I am not a member of the 9 That is, the sewer company bills us based on what 0 committee, but as long as we are not participating, 0 the water company says came through. and the other Commissioners could attend as well, so So -- and I think the number is -- they 2 maybe some time in the next month or so we could do 2 might charge like 20 percent is my understanding, so 3 that, and I think that would be great. 3 I don't see how the sewer bill can be nearly twice 4 Thank you. 4 as much as the water bill, especially when for Amp 5 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 5 2, you see that the ratio is much more in line with 6 If I could, I would like to inform the 6 how I would assume it would be -- hum -- 7 Board in the wake of -- 7 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 8 THE AUDIENCE: We are having trouble 8 Well, two things I would like to say is 9 hearing back here. 9 it gives us -- walking into a budget like this 20 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 20 surprised me, too, when I first saw it. But it 2 -- I'm sorry. 2 gives us a target. It shows us there are areas 22 I will inform the Board and the members 22 where we can improve, definitely we can improve. 23 of the audience, that as far as the security issue, 23 There are some inconsistencies in it, 24 one of the primary things we are working on right 24 and for those inconsistencies, we have our 25 now is the locking of all of the doors in the family 25 accountant who will expand. 9 of 8 sheets Page 30 to 33 of 72 0/4/204 03:50:24 PM

10 34 36 MR. GIAMPAOLO: Commissioner, I just MUA to discuss the discrepancy. 2 want to let you know -- 2 MR. GIAMPAOLO: And that's -- this was 3 MR. DAGLIAN: You have to identify 3 the schedule attached to my August's financial 4 yourself for the record. 4 reports, and on the back of it was the utility 5 MR. GIAMPAOLO: Oh, Anthony Giampaolo, 5 consumption compared to the budget with the actual 6 fee accountant. 6 consumptions through August 2st on each line item 7 Last month when we prepared the 7 by the amps on that, detailed out -- 8 August's financial statements, we made some 8 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 9 inquiries about the water and sewer bills, that they 9 Thank you, Anthony. 0 weren't in line with the budget. 0 MR. GIAMPAOLO: -- before that. We found out that two of the amps, they COMMISSIONER DENING: I'm sorry. I 2 replaced the water meters on the amps. I believe it 2 have a follow-up question. 3 was Andrew Jackson and Christopher Columbus, and 3 I guess the -- and this may not be your 4 don't hold me to the second one. 4 area. This may be more -- 5 With this, they replaced water meters 5 MR. GIAMPAOLO: I will try it. 6 from the water companies, which I asked Emil this 6 COMMISSIONER DENING: -- maybe more for 7 afternoon: Was the sewer company notified of the 7 the Director. 8 change in the water meters, because the utility 8 But if you look at the electrical bills 9 consumptions really fell on Andrew Jackson for a 9 for the different amps, you will see that some amps 20 month, and according to their schedules they weren't 20 are paying roughly I think $2000 a unit per year, 2 in line with the previous month. 2 and some amps are paying a lot less, just wild, 22 From past experience water should never 22 like, you know, two to three times different there. 23 fluctuate. It is like almost a straight line. 23 MR. GIAMPAOLO: Some of it is on street 24 Everybody uses the same amount of water every month. 24 lighting. 25 It doesn't -- you are not like watering your lawn. 25 Andrew Jackson has a lot of street 35 So basically we did some investigation, 37 lighting, and that is built into the amps. So the 2 and we have not heard back yet from the accounting 2 street lighting, the lights are kind of messed up. 3 department on the situation, but these budgets -- 3 They are on different times. 4 but the budgets for the utilities are actually done 4 Public Service was just out recently 5 from actual utility consumption reports when we 5 checking the lights, making sure that they are not 6 gather the data back in, and it is a 2-month 6 on at 2:30 in the afternoon, that they are on at 7 rolling base. 7 night, and we pay for the street lighting. 8 So basically you take three years worth 8 That's -- compared to Fox Hill that doesn't have 9 of data, divide it by three, and multiply it by the 9 street lighting basically, it just has some flood 0 current usage for the current rate and the usage, 0 lights around the project. So the amps might be -- and you get your budget month for the coming year. the cost might be a little lower, but this is the 2 So this way, if you do have a spike in it, it is -- 2 actual charge that we are getting from the utility 3 INTERIM EXECUTIVE DIRECTOR: Spread 3 company for those bills, and that is, once again, on 4 out. 5 MR. GIAMPAOLO: -- spread out over a 6 three-year period of time. It is called a 7 three-year rolling base. 8 So in the past, it might have had 9 problems with it. But this is actually what we are 20 being charged and what we are being paid for by the 2 utility companies especially in the MUA. It is 22 extremely high for the amount of water that we are 23 using. 24 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 25 They already set up meetings with the 4 the financial statement for August because I 5 presented it as an inquiry. Something is not right 6 with this. 7 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 8 It is something we do have to look at. 9 I walked the site and I have found COMMISSIONER DENING: I'm sorry. 2 INTERIM EXECUTIVE DIRECTOR DI VINCENT: I walked the site and we found 23 lights on during the day. I saw the field lit one 24 afternoon at two in the afternoon, so there are 25 areas that we do have to look at, which could bring 0/4/204 03:50:24 PM Page 34 to 37 of 72 0 of 8 sheets

11 38 us some savings, so I think it is a good picture and 40 just keeps on rolling down, and then that becomes a 2 it gives us some place to go to start to begin to 2 platform for a base that you use X amount of 3 look for savings. 3 kilowatts that's locked in stone, and then you work 4 COMMISSIONER DENING: Is it possible to 4 off of that for the next couple years. So if you 5 ask PSE&G for -- and the other utilities companies, 5 have a water leak, you end up getting a subsidy for 6 to do some sort of audit to -- I don't know -- to 6 the water leak down the road. 7 determine if we are just leaking money somewhere? 7 CHAIRWOMAN WEFER: The other thing that 8 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 8 I just quickly wanted to say is that I know that 9 I have PSE&G now doing an audit in West 9 there are other opportunities out there. I know I 0 New York, and I have instructed them I am down at 0 have been contacted by companies, and I know that Hoboken, and I am hoping we can bring them in and Rich Fox has been talking about converting, and that 2 give us some help. 2 there is not only a potential for us to maybe save 3 There are some dollars that may be 3 some money, but there might be a potential for some 4 available to us from PSE&G, and I am going to put 4 upside for us, so that is something that I think we 5 the applications in, and hopefully they will give us 5 will be talking about at the Landscaping and 6 some assistance in making whatever changes need to 6 Facilities Subcommittee in the near future. 7 be made to save some money. 7 COMMISSIONER SANFORD: I have a few 8 COMMISSIONER DENING: Could you -- 8 questions. 9 could you just keep us apprised of that? 9 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 20 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 20 Go ahead. 2 Yes. 2 COMMISSIONER SANFORD: In terms of how 22 COMMISSIONER DENING: Thank you. 22 you prepare the budget, are you taking an estimate 23 CHAIRWOMAN WEFER: I just wanted to add 23 of say the prior three months and projecting say 24 or clarify, my understanding is that we are 24 October, November, December? 25 reimbursed by HUD for a large percentage of our 25 MR. GIAMPAOLO: Okay. How I prepared 39 utilities. Does that include all of the utilities? 4 this budget is I prepared five budget revisions 2 MR. GIAMPAOLO: The answer to the first 2 since the original draft. I started it back in May. 3 question is yes, HUD reimburses us for utilities, 3 We took the actual numbers in May, May 3st numbers, 4 but it is not as simple as that. 4 and we projected for the year. 5 They reimburse us almost dollar for 5 Then we looked at the current bills in 6 dollar, but any overage of the usage -- 6 June and tried to see if there was a pattern, and if 7 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 7 they made sense. 8 That is why it is a rolling base. 8 From that, we did some budget 9 MR. GIAMPAOLO: -- that is why it is a 9 revisions. We cut some costs. We trimmed the fat 0 rolling base. They don't reimburse us for the 0 out of the budget, so we made it so it came in with overage, but they do reimburse us for -- if there is a balanced budget. To me, it is a balanced budget. 2 a price increase. If it goes from 58 cents per 2 It is a $5,000 increase. 3 therm to 63 cents per therm, they give us the excess 3 The latest budget revision, Mr. 4 of it in the next year's budget, but they don't 4 DiVincent asked me was to see if I could come up 5 really give us any reward for using electricity 5 with a hundred-thousand dollars worth of savings for 6 during daytime hours, like lighting ball fields 6 security, which was done. How we did that was very 7 during the afternoon or stuff like that, because 7 unique. We eliminated one position in 8 that is mismanagement. That is misuse. They don't 8 administrative salaries. The secretary for this 9 want to reward you for it. But the excess subsidy 9 current year, she has been eliminated. 20 comes in the following year's operating budget. It 20 We took out $40,000 miscellaneous 2 is not for this current year or for '5. 2 administrative expenses for professional fees for 22 Once we close out the 204 budget, year 22 possible litigation going down the road. We 23 end, then that subsidy will be reflected in the budgeted -- I budgeted $60,000, and we took 40, budget, because it takes a whole year cycle, because 24 from that, so I still left a line item of 20,000 for 25 that is why it is a three-year rolling base. It 25 possible litigation going down the road for special of 8 sheets Page 38 to 4 of 72 0/4/204 03:50:24 PM

12 42 counsel, and I took $8,000 from maintenance 44 work, so a lot of what we are doing with elevators 2 overtime. Maintenance overtime was budgeted for 2 is Band-Aids. We're fixing problems to make sure 3 75,000, and I just decreased it $8,000 to make it a 3 they continue to run. We're constantly going in, 4 whole hundred-thousand dollars, but there is really 4 and I think over a five-year period, if we make a 5 no room in this budget going forward. 5 plan, we might be able to get us to a point where 6 As I mentioned to Mr. DiVincent many 6 the elevators are being maintained the way I feel 7 times, maintenance is a big issue. There is no room 7 they should be maintained. 8 to go over budget with maintenance with the heating 8 When you get to plumbing problems with 9 and plumbing or elevator maintenance. 9 the boilers, I don't know what we are going to find 0 COMMISSIONER SANFORD: I see, for 0 yet. We just started working with the boilers we're example, for Amp, maintenance labor, that's almost ready to turn on, and I am finding numerous problems 2 $600, with the boilers, and capital fund money is limited, 3 MR. GIAMPAOLO: That's correct. 3 so we are trying to, you know, we're budgeting and 4 COMMISSIONER SANFORD: What was that 4 based on past experience, but I don't know what I am 5 last year? 5 going to find, so again, it's a big question mark. 6 If you don't know, it is okay. 6 It is just the budget. 7 MR. GIAMPAOLO: I have no clue. I'm 7 COMMISSIONER SANFORD: Right. I 8 sorry. There is a report -- 8 understand. 9 COMMISSIONER SANFORD: No, I 9 So is it fair to say that what was in 20 understand mind in creating this budget was to trim as much 2 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 2 cushion as possible and reflect what the actuals 22 Normally that's a reflection of what it 22 might be? 23 was last year. We try to budget a future year -- we 23 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 24 try to budget the year going forward based on the 24 That is what we tried to do. 25 experience of last year. 25 What we did -- initially what did, 43 Now, in this case I know for a fact 45 everywhere we could save, we tried to save. You 2 there have been some elevator problems, which have 2 have 8 part-timers working for you, and they were 3 been exacerbated, because I think there has been a 3 working 35 and 40 hours a week. We cut them all 4 little bit of neglect in maintaining those 4 back to 29 hours a week, okay. We want to make sure 5 elevators, so I want to make sure -- so I budgeted 5 everyone is on the part-time that they're scheduled. 6 additional money in the elevator category because I 6 We are going to look at salaries. We are going to 7 know we are going to need it. But we also have to 7 look -- we're looking at the benefit package because 8 be smarter in how we use our capital fund monies, 8 I happen to believe we're paying over in benefits. 9 because that is going to help us in our budget. 9 We're trying to get savings. And any savings 0 We have limited capital funds, and 0 that -- I wouldn't put them in the budget because I we're still paying off the ARRA money which was can't guarantee the savings will be there, but it 2 available, and debt service is about $800, will help us add money to line items where we maybe 3 MR. GIAMPAOLO: $860, budgeted light because of lack of funds. 4 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 4 COMMISSIONER SANFORD: Yes, I had a 5 -- okay. 5 question. I believe in the scheduled -- liability 6 And we found another loan that I am 6 for compensated absences, is that figure currently 7 trying to offset of another $60,000, which was set 7 warranted for an association this size? 8 for the fiber-optic systems. 8 MR. GIAMPAOLO: Yes. That number is 9 So based on expenses in the past, and 9 the actual number from 9/30/203. We don't have the 20 trying to project almost in a crystal ball what we The State wants to know what the -- if all of 2 are going to need in the future, nobody can really 2 your employees would leave today, that is how much 22 do that. 22 money you would have to pay them for compensated 23 Elevators are a situation, that I can 23 absences for unused vacation and sick leave under 24 take $3 million tomorrow and lose it in elevators 24 the current policy of the Housing Authority, and 25 because the elevators need a tremendous amount of 25 that is as of 9/30/ 203. When we close out the 0/4/204 03:50:24 PM Page 42 to 45 of 72 2 of 8 sheets

13 46 books for '4, that number could be higher, or it 48 a funding source, so whatever they want, they get, 2 could be lower, too. 2 but they are not a funding source. HUD is your 3 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 3 funding source, so we prepared a budget on their 4 That is why there is such a discrepancy 4 basis of accounting also. 5 between the HUD budget and the State budget, because 5 INTERIM EXECUTIVE DIRECTOR: HUD may be 6 they look at them differently. 6 kindly with us as far as looking at our budget in 7 In the HUD budget, we have to keep that 7 those senses, but in the coming years there are 8 money in there, which gives us a very, very -- it 8 many, many more questions. 9 takes away from our bottom line. 9 We had this conference that we went to 0 In the State budget, we may look 0 last month, and there are many, many more questions healthy in one budget and be very, very unhealthy in that are going to be asked in the State budget, 2 another budget, because they are reflected different 2 which have to be answered. Maybe you want to just 3 and mainly because of those compensated absences. 3 touch on that, Anthony. 4 MR. GIAMPAOLO: The State budget last 4 MR. GIAMPAOLO: Underneath the State 5 week down in Atlantic City, the Chairperson for DCA, 5 budget is many memo accounts and line items for the 6 Annie, was discussing it, and the auditors were in 6 operating budget. Travel is one. They want to know 7 the room and saying, come on, you can't do this. 7 a detailed list of travels. They want to know 8 The State budget shows an operating 8 compensated absences. They want to know all of your 9 reserve of $2.6, which is not true. According to 9 employees' shared services and Board of Directors HUD, you don't have reserves, and the reasoning is 20 Board of Commissioners, where they -- if they there 2 you are adding back all of your long-term 2 are shared services, or if they are political -- if 22 liabilities. You are adding back the Opec 22 they work for another State agency, that number 23 liability. You're adding back the compensated 23 needs to be disclosed, the salary amount and 24 absences. You are adding back your debt to the 24 benefits in the operating budget for the State. 25 operating reserves. 25 These are all new changes. HUD is 47 HUD says, what is the true picture, if 49 looking at it. The field office in New York and New 2 the Housing Authority would stop today, what is the 2 Jersey is looking at it this past week, going should 3 true picture. 3 we include something like this, or should we just 4 The State doesn't care about the 4 stay quiet. 5 long-term debt. They just want to know what is the 5 Basically the DCA, State of New Jersey, 6 short term one-year liabilities and forget about the 6 DCA wants the budget to be more transparent to who 7 long-term debt. We will use that as a memo account 7 is running the Housing Authority and everybody else 8 on the side, and that is the big difference between 8 with it, and all of that. 9 when you are looking at the State budget, you're 9 COMMISSIONER SANFORD: Thank you. 0 preparing and it shows an operating reserve of Where I am going with these questions million when HUD is basically about $300,000 coming is how much flexibility do we have as a Board to 2 in at, and that is for the reasoning. You are 2 affect policies and processes to perhaps keep to the 3 adding back all of this long-term debt that HUD 3 budget number or maybe find savings as we get more 4 requires you to write off and keep on the books and 4 efficient throughout the year. 5 the State says, take it off, subtract it from the 5 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 6 number, so it might look better to the reader of the 6 I think as far as me giving you the 7 financial statement, which is not right. 7 transparency, you need to be able to observe the 8 COMMISSIONER SANFORD: Now, is that 8 budget, and you know, if there are ways to affect 9 just HUD or in their capacity to set policies or 9 this budget by policy changes, I will definitely 20 anything you can do to affect this bring them to you. 2 MR. GIAMPAOLO: That's the State of New 2 Right now basically we are looking at 22 Jersey's policy, and HUD is firm on standing with 22 getting -- I am in a survival mode. I mean, we are 23 theirs. 23 in dire straits right now to be honest with you. 24 We have prepared a budget on two 24 I am looking at, you know, like a $2 million deficit 25 methods, HUD's budget and DCA's budget. DCA is not 25 over the past year, which I didn't expect to find. 3 of 8 sheets Page 46 to 49 of 72 0/4/204 03:50:24 PM

14 50 So right now the budget is tight, and 52 of boiler work done probably for $300,000, and then 2 we have to look everywhere we possibly can to save. 2 the savings would be paid out of the $600,000, so 3 I don't see any policy changes now that would 3 those are the grants that may become available next 4 appreciably affect this budget, but if something 4 year for Hoboken that I am using now in West New 5 comes before me, I will gladly bring it before the 5 York. 6 Board, and I request we make those changes. It is 6 COMMISSIONER SANFORD: Thank you. 7 important. 7 Thank you. 8 I mean, we're looking at -- you know, I 8 CHAIRWOMAN WEFER: I just want to thank 9 am trying not to have the massive layoffs I had when 9 you -- 0 I first took over the Housing Authority 2 years ago 0 MR. GIAMPAOLO: No problem. because that doesn't help the agency, especially CHAIRWOMAN WEFER: -- for your work on 2 when we have as many repairs that need to be done, 2 the budget in finding the money for the things 3 but the reality is I can only afford X amount of 3 requested. 4 dollars for salaries. 4 With regard to what Commissioner 5 We're in the middle of -- we just 5 Sanford was just saying, I have been thinking about 6 started union negotiations, so all of these things 6 policy, and I know what you came into right now. 7 are going to affect us, and if there is a way of 7 There was absolutely no way to do this, but I am 8 affecting this budget in a positive way by policy 8 hoping that going forward that when we get next 9 changes, I will definitely bring those policy 9 year's budget, we will have sufficient records that 20 changes to this Board, and I would hope you would 20 we have a better breakdown of where the money is 2 assist me in moving forward with them. 2 going. 22 COMMISSIONER SANFORD: Yes, absolutely. 22 So, for example, like rather than just 23 Thank you. 23 maintenance, I would like to see, you know, how much 24 That's what I would like to know, what 24 is going towards -- as specific as we can get, 25 your recommendations are as to how we can stay to 25 because I think that that would make it easier for 5 this budget or decrease some of these line items. 53 the Board to evaluate what is going on and think 2 INTERIM EXECUTIVE DIRECTOR DI VINCENT: 2 about what policy changes we can make, and the more 3 Well, let me tell you, I am dealing 3 people you have thinking about that, the more likely 4 with three agencies, and whatever I do for one, I 4 we are to hit on some ideas that work. 5 will do for all three, and that is just the way we 5 The other thing that I was thinking in 6 operate. I've always done it. 6 terms of policy, I hope that we will start working 7 When I was here before, I did it for 7 on within the next month or so, I think the Board 8 three, with Hoboken, Weehawken and West New York. 8 and the Housing Authority should adopt a very 9 It worked that way. You know, the savings is in 9 aggressive stance towards looking for money. 0 having to do it only one time, so if there is a way 0 I actually just got an today, of bringing in PSE&G, which I am working on in West which I have from a FEMA representative, who is like 2 New York - I wasn't here at the time - now I asked 2 really reaching out and trying to reach out to us in 3 PSE&G to come in here to try to assist us in the 3 terms of being able to help us apply for a Sandy 4 audit and maybe bring some dollars because I know we 4 recovery fund, so I think that if we approach that 5 need a lot of mechanical work, and the funds that 5 aggressively, we will be okay. 6 were available last year for West New York could be 6 Thank you. 7 available next year in Hoboken. And the dollars 7 Do any other Commissioners have 8 they are talking about, they come in and do an audit 8 questions or comments? 9 of the whole boiler system, and the savings that 9 COMMISSIONER DAVIS: Yes, one question 20 they guarantee to realize are what pays for the 20 to Mr. Giampaolo. 2 repairs, so they will give you a grant of X amount 2 MR. GIAMPAOLO: Yes. 22 of dollars and actually put it on your bill, and you 22 COMMISSIONER DAVIS: In your findings, 23 see what the grant is, and the savings paid for 23 was the -- was your findings better before or after 24 those repairs over a period of years. 24 now? With Mr. Garcia, did he handle his books 25 So we can get a million dollars worth 25 properly? 0/4/204 03:50:24 PM Page 50 to 53 of 72 4 of 8 sheets