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GBHA reports 520-person waitlist and stronger rent revenues after program changes
Summary
During the meeting staff reported a 520-person waitlist, an average 16-day unit turnaround at Mason Manor, and GBHA Properties LLC rent revenues of $1.914 million in the 2025 audit; staff projected a fully leased annual figure of $2.267 million under current program changes.
Staff told the board that Mason Manor has seen nine move-outs so far this year and that the authority is averaging about 16 days to turn vacant units. For scattered sites, staff said there have been no move-outs so far this year.
The authority's waitlist was reported at approximately 520 people. Staff said the Mason Manor budget showed a temporary shortfall of about $1,500 that they will correct so the account shows a zero balance at year end.
In financial highlights cited to the board, GBHA Properties LLC reported rents of $1,914,214 in the authority's recently completed 2025 audit. Staff projected that, under current program changes and full leasing, an annual figure of $2,267,196 is attainable. Presenters said the shift away from the prior public-housing funding model has increased revenue stability and will enable the authority to plan for capital needs such as boiler replacement and other improvements.
Board members noted the large waitlist as evidence of continued demand for subsidized housing and said they will prioritize leasing and maintenance work to sustain occupancy. No formal votes or new budgetary allocations were made during this portion of the meeting.
