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Housing Authority approves asset-management contract, accounting services and exploratory funding
Summary
The Housing Authority of New Canaan approved an asset-management contract with Heritage Housing and David McCarthy, authorized initial accounting setup and monthly fees, and approved up to $30,000 to explore conversion funding via Build CT.
The Housing Authority of New Canaan voted to approve several governance and funding actions at the end of its meeting.
Votes at a glance
1) Asset-management contract: The board approved an asset-management contract with Heritage Housing and David McCarthy under the terms discussed in executive session. The motion was made and seconded in open session; proxies for Mike Sweeney and Tim (identified in the record as Tim Walsh / Tim Wells in separate references) were submitted in the affirmative, and the chair declared the vote unanimous. The resolution passed.
2) Accounting setup and monthly fee: The board authorized payment of $5,000 to David McCarthy and Heritage Housing to set up consolidated accounting and authorized $1,000 per month for ongoing consolidated financial statements and bookkeeping. The motion passed with proxy votes noted as above.
3) Exploratory funding for unit conversion: The board authorized up to $30,000 to investigate whether the Connecticut Housing Authority, through the Build CT program or other programs, would facilitate conversion of area median income units to state-median income units to qualify additional units for moratorium protections. The board moved and seconded the item, proxies were recorded, and the motion passed.
Why it matters: the first two actions put Heritage Housing and David McCarthy in a formal asset-management and bookkeeping role for the authority’s consolidated accounts. The third action directs spending to explore state-level programs that could alter unit eligibility and long-term finances.
Details and next steps: staff will work with Heritage Housing to begin accounting setup and integrate consolidated balance sheets; staff and board members agreed to draft follow-up language and to coordinate with state housing officials on the Build CT inquiry. Individual contract terms and implementation timelines were discussed in executive session and summarized in open session prior to the vote.
