Mountainlands Community Housing Association

“The management of daily operations related to the meadowview apartments has been delegated to a management company.”

“The 990 is provided to each board member for review and comment prior to filing. In addition, management reviews the 990 prior to filing.”

“The organization follows the policies of the utah nonprofit association code of ethics. One code specifically relates to conflicts of interest. All employees and board members are subject to the conflict of interest policy, which requires that all actual, potential, or perceived conflicts of interest be disclosed. The policy requires that board members and staff act in the best interests of the organization rather than on the basis of personal interests or the interests of third parties. The board of directors and executive director reviews each actual, potential, or perceived conflict of interest. They will determine what specific action is required to ensure the best interests of the organization. In addition, each year the organization affirms compliance with this policy in a signed document to the utah nonprofit association.”

“The compensation for the executive director and other employees is approved by the board each year when the budget is approved. All salaries and raises are given to the board as part of the budget and the entire budget is approved by the board after discussion. Salary comparisons are shared with four other non-profit entities in utah in the affordable housing business. This data is used as a comparison when establishing salaries. The board documents approval of all pay rate changes and merit awards.”

“The board of director reviews and approves compensation of other key employees.”

“The organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”

“Mountainlands community housing association's (mcha) purpose is based on the belief that a safe affordable home is often a familys first step toward economic self-sufficiency. Mcha addresses the dual problems of housing affordability and availability on three fronts: acquisition and new construction of affordable housing, direct assistance in securing housing and needed basic services, and education and advocacy to promote housing policy.”

“During the fiscal year ending march 31, 2016, mountainlands community housing trust (mcht) completed 18 self help homes in francis bringing the total of self help homes completed since 2002 to 180\1. These homes were completed under mcht's self help program with a usda rural development grant. Sfour crown lease-to-own homes also were completed in the river bluffs subdivision in collaboration with utah housing corporation. Of the 43 lots purchased in the river bluffs subdivision in francis, 11 were conveyed in fy2016, leaving 15 in inventory. Mcht also completed two restricted homes that use the community land trust model on lots that were donated by the developer of river bluffs subdivision in fy 2015. Mcht closed and started construction on its richer place apartments 28 unit project in kimball junction. Completion is scheduled for august 2016.. Mcht completed its fourth and final year of its cornerstone homeownership opportunity program (chip) and received grants totaling 135,000. Mcht's summit county contract of 50,000 was renewed and the service agreement with park city municipal corporation was renewed at 20,000 per year. Two transitional housing grants with hud were renewed so mcht continued to operate 11 units under this program in fy2016. Elmbridge apartments completed its second full year of operations and has exceeded cash flow projections. In addition to paying down the deferred development fee and arrearage, the maximum incentive management fee of approximately 72,000 was paid. The loan funding from ge capital (now, synchrony bank) for acquisition of lots for self help homes has been paid down significantly. Mcht paid off of this loan in full in april 2016 with the closing of six lots to self help participants. Mcht has built operating reserves and reserves for development to the point where lines of credit rarely need to be utilized. Mcht currently is in a strong cash position with almost 900,000 of unrestricted funds available in support of a continuing balanced budget and productive development efforts.”