PENSACOLA HABITAT FOR HUMANITY, INC.
EXECUTIVE COMMITTEE MEETING
December 18, 2012
The December 18, 2012 meeting of the PHFH Executive Committee was called to order by
Gerald Adcox, Chairman at 12:10 p.m. at the Salter Center.
Members in attendance included Jim Potter, Carolyn Appleyard, Shirley Henderson, Ellis
Hodges, Larry Northup, Al Jackson and Gerold Adcox.
Also in attendance were Tim Evans (ED), Hal Major (COO) and Dianne McMaster (CFO).
Chairman Adcox opened the meeting with prayer.
The minutes of the November meeting were accepted as submitted.
Carolyn Appleyard suggested that in the future the Executive Committee and the Board may
consider using a ‘consent agenda’ (a subsection of the business agenda) to dispose of items
such as minutes and regular committee reports that will allow more time during meetings for
significant issues and strategic plans. All present thought the suggestion merited review and
possible implementation in the new year.
OLD BUSINESS
Finance: CFO McMaster reviewed the dashboard of the finance report. She mentioned the
continuing development of procedures to address the high percentage of delinquent
mortgagees, with an emphasis on maintaining open communications. She also pointed out that
there are currently 42 partner families in the queue to close. The high number of closings
coming in the next 6 to 9 months will also significantly deflate the $12MM line for ‘Construction
in Progress”.
Hal directed attention to the Line of Credit, stating how recent draws from HFHI have allowed
us to pay the line down to $650K from a high last month of $2.7MM. Hal also recapped the cash
expenditures – ReStore loan and office renovation, significantly – that were made during the
past 24 months, totaling $1.3MM, paid by NSP2 developer’s fees.
Land Committee: Dick Baker has resigned from the position of Property Procurement Manager
with Pensacola Habitat to accept a position with the Blue Wahoos, and we all wish him the best
in his dream job with professional baseball. Although we have been anticipating closing on the
Carmel Ridge development in Milton for many months it is postponed yet again because the
Milton City Council did not consider the changes to the plat for the development necessary for
moving the project forward.
NSP2: Tim stated that the complete grant award has been expended and was submitted for
repayment by the December 11 deadline. On the financial side of the project, we have
completed the program successfully. The final total for the number of units funded by NSP2 is
372, which is a considerable amount above the initial proposal of 240 (greater than a 50%
increase). Tim commended all of the staff in the finance department for the diligence in
meeting the deadline
NEW BUSINESS
NRI Policies – Tim presented copies of an application as well as a homeowner agreement for
use in the NRI program customized from templates available through HFHI. There was some
discussion regarding the proposed name of the program (Home Ownership Preservation and
Empowerment, or HOPE Program) with concern that there was a federal program using the
HOPE acronym, and our use of the same ‘name’ may easily lead to confusion. Tim agreed to
remove the program name from the forms and simply use the NRI identifier. Ellis mentioned
that we needed to be careful in making estimations of the expense for rehab work since there
could be additional work needed that is not apparent at initial inspection. It was agreed that
there are still procedures to define pertaining to the program, but that the forms developed
appeared to be a good start.
Governance Committee – Orientation for new Board members will be January 8 at 3:00. Most of
the new members have confirmed they will be in attendance.
Tim mentioned that Board member Hank Graves had spinal surgery recently, was recovering at
home and would be very limited in his activity for many weeks. Tim suggested a call or a card
to Hank would be appreciated during his recuperation.
Tim announced that the Habitat Christmas party would begin immediately following the
meeting, and encouraged all present to remain and enjoy the festivities with the staff and the
other Board members.
At this point the Committee dismissed the staff to discuss the final agenda item addressing the
distribution of Christmas bonuses for staff (schedule of bonuses available from the finance
department).
The meeting was adjourned at 1:05.