A concurrent meeting of the Boards of Directors of Lincolnshire Apartments, Inc. and Lincolnshire North Apartments, Inc. was held on Monday, November 30, 1998 at 11:30 at Cravens Elementary School.

Others Present:

Call to Order. Following lunch, President Ron Logsdon called the meeting to order at noon.

With a quorum present, Mr. Logsdon proposed that both Boards are to meet concurrently.

Rev. Baize and Mr. Logsdon served as the Nominating Committee. A proposed new slate of Board of Directors members and officers for each of the Lincolnshire boards was distributed by Mr. Logsdon. Under the Nominating Committee’s proposed slate, Mr. Logsdon would move from the the office of President of the Lincolnshire boards to the CEO, a position he held concurrently with that of President. Rev. Baize would become the new President of both the Lincolnshire Apartments and Lincolnshire North Apartments boards. Mr. Wilkey would move from the office of Secretary of both boards to be the Vice-President of both corporations. Mr. William S. Horton would succeed Logsdon on the Lincolnshire board and Mr. Fred Goodwin would succeed Logsdon on the Lincolnshire North board, both men as the Owner’s CEO’s designee.

Mr. Logsdon reviewed the standing By-Laws of the Lincolnshire corporations, explaining that they were exactly the same for both complexes—each complex being separately incorporated. Mr. Logsdon discussed the membership of the Lincolnshire boards: Ms. Devine and Ms. Sherry Nash are the Lincolnshire Apartments’ Residents’ Representatives. The Community-based Organization Representatives, Ms. Allinder and Ms. Warren, are from Cravens Elementary School. Mr. Russ Wilkey and Ms. Daisy James are the Owner’s Corporate Support Representatives. The organizations’ fiscal year runs from October 1-September 30, with the annual meeting normally being in September. The Lincolnshire boards are to meet four (4) times per year, once each calendar quarter.

The need for a readily available signer for HUD submissions and various regular and continuing reports, documents, and other Lincolnshire business items was discussed; it was recommended that Mr. Logsdon remain responsible for the signing of all such documents, including budgets, grants, rent increases and other compliance issues.

The boards had requested at the previous meeting that, due to the very low interest rates currently available, Mr. Logsdon inquire into reffinancing both complexes. Mr. Logsdon distributed a copy of a memo from the Phares Company stating that, according to agreements in the existing financing documents, the corporations would not be permitted to re-finance until at least November 29, 2000. Also, the corporations cannot pre-pay the notes on either complex. Rev. Baize suggested that when the time comes, we should re-visit this issue.

Ms. White explained that the vacancy rate for the complexes remained about the same. On average, the Lincolnshire complexes have between 10-12 vacant units.

As discussed in the previous meeting, the management had all of the dumpsters on the property painted. That action prompted an immediate survey of the dumpsters by the city sanitation department. So within a week of the painting the dumpsters, a letter was received from the City of Owensboro giving the complexes until November 30, 1998 to replace or repair eight (8) of the dumpsters. After getting bids on the repair of the dumpsters, it was discussed with Mr. Logsdon and agreed upon that due to the cost of repair versus purchase of new ones, the complexes should replace six of the eight cited dumpsters with new ones. The office was later told by a representative of the R.C. Bratcher that what had happened was standard practice in the city: when old the dumpsters are painted, it alerts the City of Owensboro that businesses are perhaps trying to "hide" some problems with their dumpsters. That was why city officials made the immediate inspection and the Lincolnshires were subsequently sent the letter to immediately repair or replace the ones found lacking. It was discussed at length whether the Lincolnshire boards should say something to the City Commissioners and City Manager regarding this issue.

Rent. Ms. Hendricks inquired into why the rent had gone up after her signing her new Lease. Ms. White explained that no one’s rent, i.e., what the tenant actually pays, "went up" as a result of the new Lease. If a tenant’s rent went up, it would be because of an increase in their income.

Lighting. Ms. Evans inquired into the issue of improving the lighting in and around the complexes. Mr. Washington stated that it is dark ("black") on the end of the one-bedroom units. Mr. Wedding stated that he had spoken to someone at OMU and was told that all they needed to install additional street lights was the Lincolnshire office’s permission. Ms. White explained that she had invited a representative from OMU to the complex and was told that the complex could not re-wire for new lighting on the building. The other option was to install new street lights and direct the light toward opposite sides of the street. This was discussed extensively and it was decided that the Lincolnshire management would contact OMU to get this project started.

Fencing. Mr. Logsdon brought up the old issue of fencing—it had been raised at a previous meeting. There were no comments or concerns since the issue had been taken care of.

Juveniles. Mr. Logsdon then inquired into the issue of the juvenile problems that had been occurring at the complex. It was stated that the previous problem seems to have been corrected with more police involvement this past summer.

Police Sus-station. Mr. Washington inquired into who the contact person was for the West End police sub-station. Ms. White stated that there was no one contact person. Anytime that there was an officer at the unit, anyone was welcome to knock on the door and ask questions.

Neighborhood Watch. Rev. Baize spoke to everyone about getting involved in the Neighborhood Watch program for the complex.

Speeding Traffic. Mr. Washington brought up the concern of fast-moving cars and children in the complex. Ms. Allinder spoke on the fact that the children were saying that there seemed to be more police action in the complex. It was also stated that the Lincolnshire management had checked into the possibility of speed bumps and stop signs. Both of these requests were denied.

Watch for Children Signs. The possibility of a sign stating how many children lived in the complex be erected. Mr. Logsdon agreed to work on the design of the sign.

Equipment Replacement. Ms. Wedding said she wanted a new stove.

Outside Lights Not Turning Off in Daytime. Ms. Wedding inquired into why the lights outside were staying on for twenty-four hours instead of going off at dawn and back on at dusk. This will be checked out, assured Ms. White.

• Mr. Bray spoke on the neighbor in the apartment above him being so nice. (This neighbor is Ms. Postigloine.)

• Ms. Allinder discussed the positive approach that has been taken by Audubon Area Community Services, Inc. by listening to the tenants’ concerns.

• Mr. Washington told about how good the Lincolnshire apartments were compared to some others that he had seen and lived in.

1998-99 Chairman’s Remarks. Rev. Baize stated that as Acting Board Chairman of Audubon Area Community Services and President of Lincolnshire/Lincolnshire North, he was very interested in the complex. Rev. Baize drives through the complex and if anyone ever sees him, they are more than welcome to ask him questions at any time.

New Board Members’ Remarks. Mr. Logsdon asked Mr. Goodwin and Mr. Horton if they had anything to say.

• Mr. Goodwin introduced himself and stated his position with Audubon Area as the Director of CSBG and the LIHEAP programs. The local representative for LIHEAP is Judy Thompson. Mr. Goodwin is also a United Methodist Church Minister.

• Mr. Horton introduced himself as the Director of Child Care Subsidy. He also stated that the meeting had been very educational.

Rev. Baize adjourned the meeting at 12:45 p.m.