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HomeMy WebLinkAbout2021-04-06 HCHA Approved MinutesMeeting of the HAWAII COUNTY HOUSING AGENCY Hilo, Hawaii April 6, 2021 Agency Members Present Aaron S. Y. Chung (arrived 9:17) Maile Medeiros David (arrived 9:10) Holeka Goro Inaba Matt Kanealii-Kleinfelder Ashley L. Kierkiewicz (Chair) Heather L. Kimball Herbert M. "Tim" Richards III, DVM (arrived 9:05) Rebecca Villegas Housing Staff Members Present Susan Kunz Jennifer Kualii Royce Shiroma Desiree Moore Kori Koike-Smith County of Hawaii Staff Members Present Corporation Counsel Malia Hall Absent and Excused Susan "Sue" L. K. Lee Loy (Vice Chair) Members of the Public Via Zoom Kierkiewicz: Aloha and good morning. Welcome to the meeting of the Hawaii County Housing Agency, today is Tuesday, April 6, 1 am calling this meeting to order at 9:02 a.m. At this time, we will take up any public testimony. Jeanette, do we have any testifiers in the waiting room? Seeing none, closing public testimony at this time and moving on to business of the day. First, the approval of minutes from the Housing Agency's March 2nd, 2021 meeting, can I have a motion please? Kanealii-Kleinfelder: So moved. Kimball: Second. HCHA meeting April 6, 2021 Kierkiewicz: Thank you. Motion by Mr. Kanealii-Kleinfelder, second by Ms. Kimball. Any discussion? Seeing none. All those in favor please say aye. Any opposed? Motion carries with five aye votes, sorry, I neglected to introduce members of the agency that are here today. With us we have Mr. Inaba, Mr. Kanealii-Kleinfelder, Ms. Villegas, Ms. Kimball, Ms. Lee Loy is excused, Mr. Richards, Ms. David and Mr. Chung will be joining us later in the morning. My name is Ashley Kierkiewicz and I am Chair of the Housing Agency. Thank you. Moving on to business, New Business, if I could call up Administrator Kunz. First item before us is Approval of the Public Housing Agency Plan for Housing Choice Voucher (Section 8) Program for the Hawaii County. Can I have a motion to approve please? Inaba: So moved. Kimball: Second. Kierkiewicz: Thank you. Motion by Mr. Inaba, second by Ms. Kimball. Administrator Kunz if you could please provide us an overview of this item. Thank you. Kunz: Good Morning everyone, good morning Chair and good morning members of the Hawaii County Housing Agency. My name is Susan Kunz, I'm the Housing Administrator for the Office of Housing and Community Development. So, in order to meet the requirements of HUD federal mandates, as the public housing agency for Hawaii County, the Office of Housing puts together a five-year public housing agency plan. Our current five-year plan covers the period of 2020 to 2024. What we're presenting to you today is the Annual Plan which is against that five-year plan which explains our activities for this current period which is 2020 - 21. 1 would like to introduce my staff and they'll come up to provide you with some information about the plan. Kierkiewicz: Thank you and just noting for the record that Mr. Richards has joined us. Thank you. Kunz: So I want to introduce Desiree Moore, she is the Manager for our Existing Housing Division which manages our Section 8 Housing Choice Voucher Program. Moore: Good morning. So the PHA Plan described, like Susan says, the activities that we have planned for this year and kind of a progress report. So since the plan happened we did a renewal funding just last week which is 22 million dollars to do, to provide rental subsidy to low income families for our regular Housing Choice Voucher Program, our Foster Youth Program, Mainstream which is the non -elderly, disabled category and for HUD Vash which is our veterans. Page 2 of 15 HCHA meeting April 6, 2021 Basically, we have a budget authority of two thousand sixty-five families, vouchers that we can help families with. Right now, we have about two thousand families that we're helping and about two hundred searching and currently our waitlist is open. We also made some changes to the way we are going to select our families. We are doing it by lottery and we limited, historically we had like six thousand families on the waitlist, we are keeping it very small so that they are not sitting for five or six years and we're hoping to educate them and get them housed and helped faster so that they still have hope, you know, and also we, the other reason for limiting is we decided to adopt a strategy to help the homeless so we have a memorandum of agreement with Community Alliance Partners right now, it's the first agency we accept referrals for homeless, the homeless population. So we take them by referrals versus the waitlist and we help them immediately so we're hoping to expand that to other third -party agencies like the state DOE, Steadfast, Department of Health so that's the major changes, about seventy percent of our vouchers will be towards homeless and then we are also, we will probably maximize our project based vouchers. We are, I think we only have sixteen percent remaining, which is about two hundred, so we have about a hundred more, so we have projects in the pipe, we'll probably maximize that in the next couple years to increase inventory. Kierkiewicz: Excellent. Thank you, Desiree. Any questions from agency members? Mr. Inaba. Inaba: Good morning. So, I'm not really familiar with how these coupons work, is it income based or what qualifies you, is it AMI? Moore: It is income based, so it is based off of HUD's income limits, a percentage, thirty percent, fifty percent and eighty percent of the AMI. We are mandated to help seventy-five percent of our newly admitted to the program, they have to be thirty percent and below. Inaba: Ok, and you mentioned homeless, is it just families or individuals as well? Moore: Both. Inaba: Both, is there a breakdown between families versus individuals on who we are helping? Moore: We prefer families and we have put it on the third -party to come up with their own selection process so they have their own preferences as to how they will refer their clients. I think the focus has been on children, homeless children. Inaba: Got it, ok, that's all at this time. Mahalo. Page 3 of 15 HCHA meeting April 6, 2021 Moore: Thank you. Kierkiewicz: Thank you Mr. Inaba, anyone else? Ms. Kimball. Kimball: Thank you, Chair. Just a couple of clarifying questions, again, also unfamiliar with this process, so thanks for taking a little bit of time today to explain it to those of us that are new. So, in terms of the five-year plan, where are we in the current five-year plan with this fund year? Moore: Second year. Kimball: This is the second year. And how is the twenty-two million of the budget distributed across the program, this is not all exclusively used to support the vouchers, right? Moore: It is. Kimball: It is? Moore: It is, entirely. Kimball: Entirely. Twenty-two million to support two thousand ... Moore: Sixty-five families, yes. Kimball: Ok, alright, those are the questions that I have at this time. Thank you, Chair, I yield. Moore: O k. Kierkiewicz: Thank you and noting for the record that Ms. David has joined the meeting. Thank you for the overview, just a couple questions. Moore: Yes. Kierkiewicz: Waitlist period, if folks want to get on to the list for a voucher, is this open year round or is there a window in which they can apply? Moore: There is a window. Kierkiewicz: What is that window? Moore: This is the first year we've opened it since 2015. Page 4 of 15 HCHA meeting Kierkiewicz: First time since 2015? April 6, 2021 Moore: First time since 2015 to the general public. So, we opened it from March 15 through the end of April. It used to be shorter periods, but we opened it for longer periods to give everyone a chance, the disabled, the elderly, more time to get on, apply to be in the lottery. Kierkiewicz: And then, is there any type of scoring criteria, I mean you mentioned there being six thousand families initially, now there are a lot less folks so just wondering if there's any initial screening criteria before they go to lottery. Moore: No. Kierkiewicz: No. And then, in your allocation of these vouchers, are you identifying a certain percentage going to, say, individuals with disabilities or veterans? Moore: No. Kierkiewicz: Ok, just depends on the available funding. Moore: Yes. Kierkiewicz: Alright. And how many years have we had two thousand sixty-five vouchers available? Moore: I want to say the last three years maybe. Kierkiewicz: And prior to that? Moore: It increased. It increases every so often, so I think in 2015 or 16 we might have had like nineteen hundred and then it slowly increased, and it will keep increasing every time we apply for targeted funds so like Foster Youth and Mainstream, they're all targeted, separate pots of funds. Kierkiewicz: I see, so, there are additional funding streams that we can go after at the federal level. Moore: And we do. Kierkiewicz: Excellent. And I would image that with the census data that's going to be coming out, it's very possible that we could get additional allocation from HUD for these programs. Page 5 of 15 HCHA meeting April 6, 2021 Kunz: I believe so, and we're probably going to see some additional vouchers coming through with the American Rescue Plan as well. Kierkiewicz: Great. Ok, thank you. The other question I have was related to landlords. Tell me about that situation. I mean, do we have a steady list of individuals that are willing to accept Section 8 program vouchers, and what sort of incentives or changes to the program have you made over time based on your experience working with them. Moore: We used the CARES Act money to kind of recruit more landlords and we're rolling that out now, so, we purchased two hundred fifty thousand dollars worth of gift cards from local hardware stores to kind of recruit them, they can get up to a thousand dollars in gift cards to help the hard to house and help our families. Kierkiewicz: And is this to offset like damage that's been done to the homes or to rehabilitate so that there is additional inventory to help families in search of housing. Moore: No, this is strictly to recruit. It doesn't cover damages. Kierkiewicz: Gotcha. Ok, thank you. Any other questions? Mr. Kanealii- Kleinfelder. Kanealii-Kleinfelder: Thank you for being here this morning. From what you just talked about as far as recruiting, I think we had talked about, in a previous meeting, where some of the tenants actually feel that, if we're able to help the landlord bring their house up to more, a little bit higher standard, there may be more homes becoming available to run under the program. Has there been any thought given to utilizing funding to supply homeowners with some funds to bring the house up to standard with a new sink or whatever it may require to make it livable. Moore: That's a strategy we still have to explore. Kanealii-Kleinfelder: Ok, and can the funds be used for that. Moore: Yes. Kunz: I believe so. One of the things that we've been discussing recently, is the challenge of households not being to code and so we've been running into this a bit and so it's very frustrating cause you see that there's a unit available but if Page 6 of 15 HCHA meeting April 6, 2021 it's not to code, you know, we're running into a challenge with that. So, we've been talking about strategies to try and address that so we will be, very shortly. Kanealii-Kleinder: Ok, and that stemmed from a conversation I had with someone who is in the program and who had a house they used to be at but it didn't qualify any more cause, I mean, the house was in disrepair but point being was not so much that there's damages being incurred by the tenants, it's that some of the homes that could be a possibility aren't, cause they just don't meet the standard that applies. If it was possible, I think that'd be a good use of the funds and I think it will help with recruiting as well and maybe a slightly different way then what we're doing now but same idea. Kunz: I agree. Kanealii-Kleinfelder: Ok, thank you and how do we increase the numbers of vouchers that we can do, is that just higher amounts of funding or.... Moore: I don't have an answer for that. HUD does an allocation and they have their formula and I don't know what it is. So other than applying... Kanealii-Kleinfer: Is it census based? Kunz: I think it is some of that and it is our ability to spend the funds so we are required to spend ninety-eight percent of the allocation of money annually and we're scrutinized often and so our ability to meet that spend down is really critical like it is with all of the HUD programs so Section 8 voucher program is no different but our ability to spend down and then based on population and things like that, I think, HUD makes a determination whether or not we will get more vouchers. Kanealii-Kleinfelder: And obviously from the numbers you give us, we have a large waiting list with more vouchers that we cannot give enough vouchers out to meet the waiting list requirements so we could spend down the funds if we had um. Kunz: It's a tricky balance, you know, because the inventory of vouchers, the funding to back it, number of affordable units in inventory, all plays into our ability to perform successfully right, so yeah, it is a fine balance. Kanealii-Kleinfelder: Yeah, thank you, appreciate it, thanks for being here this morning. Kunz: You're welcome. Page 7 of 15 HCHA meeting April 6, 2021 Kierkiewicz: Noting for the record that Mr. Chung has joined us. Couple more questions, Desiree, if you are able to share this information with us. Just confirming that these vouchers can be used in lave zones 1 and 2. Moore: Yes. Kierkiewicz: Ok, thank you. Which is interesting when you consider that the CDBG-DR program does not invest in increasing housing inventory in these zones. Kunz: Any of the other housing HUD programs do not allow. Kierkiewicz: Thank you for that clarification. Do you have a breakdown of how many vouchers are utilized in the various districts? Moore: I do not, not at this time. Well, generally, roughly, on the west, in Kailua- Kona from Waikoloa on, we have about, just under four hundred right now and the remaining is all on the east side, mostly in Puna. Kierkiewicz: Ok. Thank you. Moore: And Hilo, I think split between the two. Kierkiewicz: Ok, thank you so much. Any other questions? Ms. Villegas go head. Villegas: Thank you for being here and I just wanted to especially commend you for taking into consideration the homeless and how that they fall in the spectrum of need and prioritizing them. I guess my question is, so the other families that are on the list, they are in housing of some kind or how does that, they're just waiting for the specific but then when you get through the CAP program or what not, people that are recommended then they get bumped up to that front of the line. Moore: Yes. So, our regular housing waitlist, we, there may be people who are homeless but are not being serviced through the homeless service providers. We just created another avenue for those who are being serviced by them to get vouchers quicker. Villegas: Fantastic. Thank you, really appreciate taking into consideration that population and serving their needs. Thank you. Kierkiewicz: Thank you. Anyone else? Thank you, Desiree, very much for the overview of the program and for answering our questions. Thank you all and Page 8 of 15 HCHA meeting April 6, 2021 your team, Susan, for your hard work. There is a motion on the floor to approve the Public Housing Agency Plan for the County of Hawaii, all those in favor please say aye, any opposed, motion carries with eight ayes votes, Ms. Lee Loy is absent and excused. Thank you. Next item on the agenda, Item B, Recommend to the Hawai `i County Council, Resolution Adopting the 2021 County of Hawai `i's Action Plan and Authorizing the Mayor to Execute and Submit the Action Plan and All Other Related Documents to HUD and the State of Hawaii Housing Finance and Development Corporation. Can I have a motion to approve this plan? Richard: So moved. Kanealii-Kleinfelder: Second. Kierkiewicz: Motion by Mr. Richards, second by Mr. Kanealii-Kleinfelder. Administrator Kunz if you would be so kind as to provide an overview of this item. Thank you. Kunz: So like the Public Housing Agency Plan that we just spoke about, we also are required by HUD to put together a five-year consolidated plan and this plan includes all of our funding streams like CDBG, HOME and the Housing Trust Fund which is before you today. What we're presenting to you is the Annual Plan for 2021 which is the second year of this five-year plan, so this is going to outline the activities that we're going to do this coming year. In the Action Plan, there's an outline of all of the projects that have been selected. I want you to know that we have a very rigorous RFP process that applicants have to go through on an annual basis to get awarded these funds. They are ranked and rated by a team and so projects are selected based on that rank and rating system. So, for CDBG there are three projects, no, I'm sorry, four projects that are before you, would you like me to review the projects or, because they are pretty much, they are very outlined in the Action Plan. Kierkiewicz: I think we've all gone through the material but I think just for the record that would be helpful and I know this video is going to live on your website so it would be a great overview for members of the public interested in watching. Kunz: O k. Kierkiewicz: Thank you. Kunz: So, we're going to be funding the Ulu Wini Low Income Housing Wastewater Treatment Plan for Repairs for a total of $1,420,889 this will be, this has been awarded to the Department of Environmental Management who will Page 9 of 15 HCHA meeting April 6, 2021 be doing the repairs for us, I believe there's a couple of staff members who are on Zoom today if you have any specific questions about that project. We are also going to be doing a project for again Ulu Wini Low Income Housing, it's a Certified Kitchen conversion project for a total of $495,500. Hale Ohana Domestic Abuse Shelter - Interior and Exterior Renovations for $225,760 and that's being awarded to the Child and Family Services and the last one is for the West Hawaii Domestic Abuse Shelter- Interior and Exterior Renovations, again, I'm sorry, for $157,225 to the Child and Family Services programs. There is also an allocation for administration, HUD allows us to take up to twenty percent of the allocation for administration, we are going to be utilizing five hundred thousand dollars of the total award which is about eighteen percent to cover the costs of staffing and running the programs. Any questions on that? Kierkiewicz: Administrator, could you just confirm, I mean, I thought a couple of years ago the allocation for this program was about 2.2 million... Kunz: This year it's going to be 2.6. Kierkiewicz: Oh, 2.6, ok. Any explanation for why the increase? Grateful for it, just curious. Kunz: Yeah, I don't have a calculation, so, every year they do a calculation for us but it usually runs somewhere, on the average, about 2.5 million dollars. Kierkiewicz: Great. Thank you. Kunz: The next list of projects is for our HOME Investment Partnership Program, so we are going to be running a Tenant Based Rental Assistance Program, we've been doing this for quite a few years, it's very similar to the Section 8 Housing Choice Voucher Program but there is a limit of two years and we use it as kind of a gap funding for individuals to get subsidy on their rents. We are also going to be funding the Habitat for Humanity for some self-help housing, affordable home for Puna families, $450,000 and the last project is for the University Heights Home Reconstruction which we're kind of doing an in-house project on that one. So, we were, through an Executive Order, given a property located in the University Heights area, it's a single family home, kind of nestled in one of neighborhoods near the University, so, we're going to be working with some non -profits to see what we can do with that particular project. There is a home on it right now that's in very much in disrepair so we're going to see, we're going to be utilizing the funds to tear down the unit and then see what we can do to put something back and get a family in there. Housing Trust Fund, so we are funding two programs there, the West Hawai `i, West Kdwili Street Senior/Veteran Housing program for $2.3 million dollars and we will be doing a another University Heights reconstruction project for $400,000 and that's the same project that I Page 10 of 15 HCHA meeting April 6, 2021 explained to you for HOME. I believe that Miriam Gushkin from the EAH Housing, who is working on the West Hawai `i Street Senior Veteran Housing Program is on Zoom if guys have any questions. Kierkiewicz: Thank you. Members, any questions for Ms. Kunz or anyone joining us via Zoom. Mr. Kanealii-Kleinfelder? Kanealii-Kleinfelder: I just wanted to say, sorry, we're not televising this meeting but we do have your resolution coming forward, Resolution 77-21, to adopt the plan, correct? Kunz: Yes, yes, to the Finance Committee. Kanealii-Kleinfelder: Which is televised and so if you really want to get in to details maybe then would be better so the public can actually Zoom in and see what's going on and watch the video cause we're kind of going to go through this again, sorry, it's more of a process questions but also just FYI. Kunz: For clarification, ok, yes, yes, I'm aware. So, you know.... Kanealii-Kleinfelder: We have till 10:00 to get this, to go through this an answer questions into this thing but at the same time, we're going to go through again in a way. Kierkiewicz: With a different hat on. Right now, we're not Council Members, we're Agency Members. Kanealii-Kleinfelder: I know, but for public, so before we dive in it to many deep questions, I think maybe better we save those for the resolution just so the public is able to see what we talk about. Kunz: Sure, sure... Kanealii-Kleinfelder: Not that we can't discuss it now but yeah. Kunz: Correct, so if you do have questions as a Housing Agency, I don't have any problems answering them right now, you know, the Code does require that these plan comes through the Housing Agency for approval and I look at the resolution and the process that we have to go through when we go to Finance and Council is another mechanism that I am required to do so that I can authorize the Mayor to enter into this agreement with HUD and so that I can set up the appropriations, the accounts to utilize the funds, so, it is repetitive and I wish I didn't have it do so many time but, you know, there's requirements on Page 11 of 15 HCHA meeting April 6, 2021 both sides, so, I thank you for your patience and, you know, but I don't mind if you have questions wearing the Housing Agency hat on. Kanealii-Kleinfelder: How long as it been like this, where we do kind of the double... Kunz: You know, I have to tell you honestly, there is not a lot of record of us coming through this agency regularly. It's changed over the years and through the different administrations, so, as we were looking at the Code, and the requirements of what we're supposed to be doing, I saw that there actually is very specific language that requires me to bring these plans to the Housing Agency, so, I just want to be in compliance and do things the way we're supposed to be doing, and it's repetitive, you know, but I look at it as a means to meet County requirements and a means, to set up the accounts and authorized the Mayor to enter into these agreements and these are the tools that I have, so, it is another layer that I didn't see happening regularly but after working with our attorney, it's clearly there, the language, does it need to be revisited, does it need to be looked at, maybe? But I'm going to follow what's in the Code. Kanealii-Kleinfelder: Understood. Understood. Kunz: As its stated currently. Kanealii-Kleinfelder: I was just thinking out loud really, why we do what we do. Kunz: Yeah, no, thank you, I appreciate that. And I think it's good to that everybody has the same understanding about what hat we're wearing and why we're doing things. Kanealii-Kleinfelder: Thank you, Chair. I was just, just for my information, maybe for others to but... Kunz: And we will be there, at the Finance Committee Meeting. Kanealii-Kleinfelder: Thank you. Kierkiewicz: Mr. Richards you have your light on. Richards: Thank you, Chair. Quick question on the rental assistance portion, you said the two-year limit, how do people apply and get into that and what is the concept there, is it for like young people trying to get out or how are you administering that? Page 12 of 15 HCHA meeting April 6, 2021 Kunz: She'll give you better detail. Richards: Ok, got it. Moore: That program is going through some changes. With our new allocation, I think it's 1.2 million, we were going to gear it towards homeless, 1.9 million, sorry, again, homeless, and what we did was, we took the allocation and in our regular Section 8 Program, we wrote in our plan to convert these vouchers as long as the families still in good standing, into regular permanent housing on the Section 8 Program, depending on funding. So if funding is available and their 18 to 24 months has run out, we plan to change them over to regular Section 8 housing, we wrote that into our plan. Richards: Ok, and so, I like that you're transferring over to Section 8 but how do we used up most of our Section 8 vouchers, I know we were trying to get a few more from other counties as I recall. Concern is we're going to run out of inventory whether it be housing or these Section 8 vouchers, I think, or are we in pretty good shape with that right now? Moore: We're running out of inventory. Richards: Both voucher and housing? Moore: Vouchers we have, so there's a constant attrition of the program, so this year, I think, the average is about a hundred twenty so we'll be replacing, so that's the plan, is to keep feeding the program that way. Richards: Ok, alright. Thanks, Chair, I yield. Listening to Mr. Kanealii-Kleinfelder's concern, having too much conversation now, save some of this for later. Thanks, I yield. Kierkiewicz: Thank you, anyone else? Ms. David. David: Thank you, Chair. Good morning and welcome. Thank you so much for, I came in late but I think I got the gist of the presentations that you were presenting, just wanted to make a note that a comment Mr. Kanealii-Kleinfelder has said, and I want to acknowledge the fact that you have gone to the lengths you have in complying with the procedures, both the Housing Agency side and when it comes to Council. I think I appreciate that because I believe there is a reason, although it seem sometimes repetitive, but in your job and I think when you sat down with me and explained the various programs that comes within your authority to manage, that makes sense that these things follow the course as outlined and I don't know why we haven't done it but I really want to express my appreciation that you are acknowledging the Page 13 of 15 HCHA meeting April 6, 2021 importance of process and so, I think what Mr. Kanealii-Kleinfelder is saying also is maybe we use this venue to flesh out any information that we feel would be beneficial when it comes before the Council so that we can convey that to our constituents, so, I just wanted to make that note and say thank you for all your folks efforts and how you're taking the handle on this very complicated agency, so, mahalo, I yield. Kunz: Thank you. Kierkiewicz: Thank you, anyone else? Seeing none, Administrator Kunz, Desiree, just wondering, how competitive are the funds for these particular programs, I mean, are you inundated with applications every year to the point where there are really hard decisions to make, I imagine there are, but just curious to know, you know, how many folks are you having to turn away because of the limited funding. Kunz: So, I think Desiree explained, you know, the process for the Section 8 program, on the other HUD programs, CDBG, HOME and Housing Trust Fund, so I want to remind you that the HOME and Housing Trust Fund grants only come to us once every three years, so it's an allocation that we have to share with Maui and Kauai. So that makes it even more competitive, right, and even CDBG with it being an annual allocation, we receive way more applications than we have funding for, it's like that all the time and it's tough so when I say when we use a very rigorous RFP process that is made public, the ranking and rating system is public, we do that for a reason because it's so competitive and we have to be able explain to people why we couldn't fund a project, you know, and some of the considerations always has to be not trying, I mean, sometimes you think let me spread the funds out so we touch more people but you need to consider making projects whole so that they can complete, right, so those are some of the things that the team has to look at as well, but it's extremely competitive. Kierkiewicz: Thank you for those details. Seeing no other questions for discussions, we have a motion on the floor to approve the Hawaii County Action Plan for 2021, all those in favor please say aye, any opposed, motion carries with eight aye votes, Ms. Lee Loy is absent and excused. Thank you, Administrator Kunz, Desiree and the rest of the team for being here and on Zoom and available to answer questions and mahalo for your hard work. Kunz: Thank you so much. Kierkiewicz: Thank you. Seeing as we are at the end of our agenda, could I please get a motion to adjourn. Inaba: So moved. Page 14 of 15 HCHA meeting David. Second. April 6, 2021 Kierkiewicz: Motion by Mr. Inaba, second by Ms. David, all those in favor say please say aye, any opposed, motion carries Housing Agency is adjourned at 9:38 a.m. Thank you. Meeting adjourned at 9:38 a.m. Page 15 of 15