DATE: January 22, 2019
TO: Members of the Housing & Redevelopment Authority
FROM: Janine Atchison, Housing Coordinator
Title
4th Quarter Rental Income & Expense Report
Body
SUMMARY AND ACTION REQUESTED:
The Housing & Redevelopment authority to review the 4th Quarter Rental Property financial report.
BACKGROUND:
The HRA owns and operate 4 rental properties containing 5 rental units. Each quarter an income and expense report is provided to HRA Board Members.
ANALYSIS:
2330 Elianna Drive - Unit built in 2007. Minimal repair costs in 2018. Utilities paid by tenants.
2334 Elianna Drive - Unit built in 2007. Minimal repair costs in 2018. Utilities paid by tenants.
517 Washington St S - Duplex built in 1900. Additional costs in 2018 for the installation of central a/c in each unit. The A/C units at 517 Washington St S were installed late in the cooling season, so a base line for utility costs will not be established until 2019.
2007 Hidden Valley - ½ of twin home built in 1986. Additional costs for tree (3) removal, planting (3) new trees and landscaping. Removal of tree downed by storm.
RECOMMENDATION:
No recommendations at this time.