HOUSING DEVELOPMENT CORPORATION OF SALT LAKE CITY
Meeting Location: 1776 S West Temple, Salt Lake City, Utah or Electronic Video or Phone Conference
BOARD MEETING: Mondayt March 30, 2026
9:00 am - 12:00 pm
WEB OPTIONS:
https://housingauthorityofsaltlakecity.my.webex.com/housingauthorityofsaltlakeci_ty.my/_j
OR
https://signin.webex.com/ioin Then enter Meeting number: 2555 230 8586
Password: 1776
PHONE OPTION:
Dial 1-650-479-3208 Access Code: 2555 230 8586 Password: 1776
If you need assistance connecting to the meeting remotely call 801-608-3394 during the scheduled time. Please call
801-428-0600 for more information or to request a meeting recording
One or more Commissioners of HASLC may participate via electronic conference originated by the Executive Director and within the meanings accorded by Utah law, the Meeting may be an Electronic Meeting, and the
Anchor Location shall be located at 1776 S. West Temple, Salt Lake City, Utah. In compliance with the
Americans with Disabilities Act, persons requesting special accommodations during the meeting should notify
HASLC not less than 24 hours prior to the meeting. If language assistance is needed, please call 801.428.0600.
The Housing Authority of Salt Lake City is committed to our mission:
To provide affordable housing opportunities as a stable base for our community
Board Members
William Davis Chair
Vacant Vice Chair Tess Clark Resident Board Member
Phil Bernal Board Member Brenda Koga Board Member
Palmer DePaulis Board Member Fraser Nelson Board Member
Dave Mansell Board Member
BOARD MEETING AGENDA
1. Roll Call
2. Public Comment - Each participant will be allowed 3 minutes for comment.
3. Motion to Approve HDC Open Meeting Minutes of February 23, 2026 (attachment) - Board Chair/ 2 minutes
4. New Business
A. CONSIDER AND ACCEPT FISCAL YEAR 2026 FINANCIAL STATEMENTS THROUGH JANUARY. (attachments) Deputy Executive Director, Kim Wilford and CFO, Jennifer Nakao / 15 minutes.
B. COMMUNITY LAND TRUST UPDATE (attachments) President, Daniel Nackerman / 5 minutes
c. KEY PERFORMANCE INDICATOR REPORT (attachment) Deputy Director, Zac Pau 'u / I minute.
5. Unfinished Business
6. Tentative Closed Session
The Board will consider a motion to enter a Closed Session. A closed meeting may be held for specific purposes including, but not limited to:
a. Discuss Strategy with Respect to Purchase/Sale of Real Property
b. Discuss the Character, Professional Competence, or Physical or Mental Health of an Individual
c. Discuss Strategy with Respect to Pending or Reasonably Imminent Litigation
A. closed meeting may also be held for attorney-client matters that are privileged pursuant to Utah Code 78B-I-137, and for other lawful purposes that satisfy the pertinent requirements of the Utah Open and Public Meetings Act.
7. Adjournment
Housing Development Corporation Staff Report
Report Provided by: CFO, Jennifer Nakao
Department: Finance
Item: Fiscal Year 2026 Financial Statements through February
March 30, 2026 Housing Development Corporation
BACKGROUND AND METRICS:
This report covers The Housing Development Corporation (HDC) property financial summary, comprised of two properties: Riverside (41 units) and Ben Albert (68 units).
HDC properties report a net residual income of $48,416, below the year-to-date budgeted net profit of $75,643 by $27,227. Year-to-date revenues for all programs and properties total $238,617, with expenses amounting to $190,202.
During the period, dwelling rents, interest income, and tenant charges overall were 8% lower than expected. Additionally, utilities and extraordinary expenses were higher than expected due to recent purchases of flooring, fire extinguishers, tubs, etc., while admin payroll and contract expenses were lower due to seasonality and timing of landscaping, unit turns, HVAC and meth remediation. We will review the budget for these properties during the next budget revision for any changes needed.
ANALYSIS:
A summary of operating revenues and expenses through February FY26 financials are included in the subsequent pages. As a nonprofit, our overall income and expenses remain on track with budgetary estimates when expected timing fluctuations are considered.
The attached financial statements show the comparison to the 2026 budget approved by the Board in October 2025, including any current year revisions.
Operating costs exclude depreciation, amortization, and capital expenses.
RECOMMENDATION:
Review and accept report. No vote required.
Housing Development Corporation Staff Report
Report Provided by: Danial Nackerman, President
Department: Executive
Item: Community Land Trust
March 30, 2026 Housing Development Corporation
BACKGROUND:
Our Community Land Trust (CLC) was formed last year for the purpose of advancing ownership opportunities for those who have not been - and weren't likely to - be able to participate in homeownership as the entry into the largest investment many citizens make in their life; the life stability added in ownership versus rental; and the advancements of long term, stable neighborhoods.
Our key elements to overcoming ownership barriers for our customers are improving fiscal literacy, eliminating any redlining possible, lowering price-points, finding downpayment assistance, gaining fiscal/banking partners, adding homeownership counseling/skills and of course adding homeownership when it otherwise wouldn't have happened.
STATUS:
Staff have been active in analyzing opportunities such as the following:
- Studying the new state funding for condominiums
- Analyzing our existing Jefferson Circle property for renovation into a CLT project
- Preliminary planning a Mansell Manor site for 72 new first-time homeownership condominiums under CLT.
- Considering a partnership with a well-known developer for a new rent-to-own development project that have a CLT element.
- Considering a property purchase to enable the Pharos site to be a first-time homeownership CLT
ACTION RECOMMENDED:
This report is for information, as an update - no action is needed.
Housing Development Corporation Staff Report
Report Provided by: Deputy Director Zac Pau'u
Department: Property Management
Item: Key Performance Indicators (KPIs)
February 2026
March 30, 2026 Housing Development Corporation
Background:
The Property Management Department has developed Key Performance Indicators (KPIs) and associated metrics to monitor performance around essential activities. The tables below detail KPIs and metrics in focus for the 109 units owned by Housing Development Corporation (HDC). They also provide other informational data points to help identify deficiencies and make appropriate corrections. Similar reports have been provided to break out units and commercial spaces owned and managed under the Housing Authority of Salt Lake City (HASLC) and Housing Assistance Management Enterprise (HAME), as applicable. Units impacted by extraordinary circumstances such as methamphetamine remediation, flood, or fire that were previously excluded are identified as such in this report. Units impacted by outlying circumstances such as excessive extermination, excessive damage, or death are identified in this report as outliers.
Analysis:
KPI: Average Occupancy at the close of February 2026
Metric: >95% for stabilized ro erties
Average Occupancy February
HDC 90%
Move-ins February
HDC 1
Move-outs February
HDC 1
Evictions February
HDC
KPI: Work order completion
Metric
For the month of Feb 93% of work orders
Total Work Orders February
HDC 70
Unit Turns Completed February
HDC 2
submitted in the reporting period were completed.
KPI: Average Number of Days Vacant for February 2026
Metric: Average 20 days or less
The days vacant are calculated at move-in, calculating the average number of days from move-out to movein.
February
HDC 11
KPI: Tenant Aged Receivables (TARs) Metric: 4% of Potential Rent or less.
In the previous month, HDC had a rolling accounts receivable (AR) balance of $2,370. We collected $1 ,781 resulting in a 75% collection rate.
For the month of February, the total reoccurring charges for HDC-owned properties amounted to $ 1 15,839 with a30/0 delinquency rate. At the end of February, the combined amount owed for HDC owned properties was $4,331
Financial Impact:
Account Receivables Owed
'Payback Agreements' reduce current rental collections, so they prevent evictions and subsequent costs.
Action Recommended:
This report is for information, as an update - no action is needed.
Notice of Special Accommodations (ADA)
In compliance with the Americans with Disabilities Act, individuals needing special accommodations (including auxiliary communicative aids and services) during this meeting should notify Josie Dejarnatt at 801-428-0600.