All right, everyone.

Uh it is now 201.

We will kick off the meeting for the redevelopment authority of the city of Allentown for our May meeting.

Um we have our quorum of our board, and um we will kick off the meeting right now.

Um first agenda item here is the approval of minutes uh from April 8th.

Do we have a motion to approve the minutes?

I'll move.

We have a motion, we have a second.

Any discussion on the minutes.

All those in favor signify by saying aye.

Aye.

Aye.

Any opposed?

Motion carries.

Uh I don't know that we have anyone here from the public for any comments, so we'll jump past agenda item number three.

Um I will also note that we will be having a an executive session towards the end of our meeting uh to review some of our real estate transactions.

Um with that, we'll jump to agenda item number 5.0 with our staff financial reports, and I'll pass it to Alan.

Um first I would like to say the audit is in process, it's going on as we speak this week.

Uh, we've gotten several inquiries from the auditor, but everything seems to be going well so far.

I believe that the plan as of right now is to present the audit report at the June meeting.

So uh by the auditors would do that presentation, the external auditors.

So I believe we're on track for that to happen.

So hopefully stay tuned.

That will be the next meeting June 10th.

Oh, it's a chair, but absolutely uh Maher Dussel.

Okay, Margoosel, yep.

Yeah, yes.

Uh, and actually, we did receive on Monday.

It is not reflected in the financial report because we just received it Monday after the uh board packet went out, but we did receive our invoice for the work so far, so that was 21,000.

Uh so that will be on next month's bill approval.

But just to let you know, that's that's coming up.

Uh so on the page nine, I believe it is here, the budget to actual report.

Just a few things to point out uh from last month over month.

We received a small amount that we put into miscellaneous income there for $312.

That was a return of some escrow funds from 1240 North 19th Street.

Not very much, just $312.

I do have it noted there on the report, but just something to point out.

Other than that, it was more rental income.

Uh that was really the only change as far as income goes.

Uh, with expenses this month, you will see the uh $30,311.86 cents expense.

That was for not quite the entire first quarter, but from January 3rd through March 13th, that was these expense for city staff salaries and benefits.

Another expense uh somewhat significant this month was the three thousand dollars.

That's the annual fee we pay for QuickBooks, so that was three thousand one hundred and forty-eight twenty.

So that's in the office program and supplies line.

Uh other than that, I don't think there's anything really too uh major month over month.

Uh the bill list will will pretty much cover everything else that would be in there.

So that is included later in your packet.

Uh to go on to the financial statements.

I did figure out how to hide the zero balance accounts, so this should be a little bit easier on the eyes, just seeing the accounts that we have balances in.

Uh the one thing I would point out is that we did get a reimbursement from CDBG funds of 159,463 and 70 cents.

Uh that was deposited into the 1018 truest account.

And it has in that 159,000, 82,533.

Was a partial reimbursement for the purchase of 725 North Penth Street, and 76,930 and four cents was a reimbursement for the just compensation paid for 802 West Walnut.

And you can see that the count $1203 CDBG operating, which is about halfway down the page on page 10 of the balance sheet, is now at zero.

So there we're not expecting at this time.

We don't have any receivables.

It hasn't yet been posted, so we can't yet uh prepare any invoices with 2026 expenses or submit for reimbursement just yet because the contract has not been approved fully through the queue.

But once that happens, we can then start billing for the 2026 expenses.

So that is really the only major change I would say worth noting on the financial statements, month over month.

Page 14 is the profit and loss, which should pretty much match.

Well, it should match uh the budget to actual that we've already discussed.

So outside of that, I really don't think there's any anything else to note at this time.

Does anyone have any questions on the financials?

Just one clarifying comment slash question.

The current net operating income loss of $57,000.

We expect once we get the CDBG contract, the majority of that will be reimbursed to the authority.

So it will be net zero.

It's more of a timing thing.

Do we have an expectation as to when that's gonna go through?

Uh I mean it no, because I don't I don't really know what so what happens is it gets put into uh an electronic routing system, and then all the various departments that need to sign off on it have to review the contract and say, yep, this is okay.

Uh we don't anticipate any issues, but sometimes it takes people a little while to work it through the queue.

So is there anything more we can't show that as a receivable?

I I don't think that that would be prudent until the the contract has been approved.

No, we it really's no guaranteed versus although we feel pretty confident.

Uh we feel pretty confident received license.

Right, I would say not, yeah.

That's good enough for that for me.

Any other questions on the financials seeing none?

Uh we can entertain a motion to approve and accept the staff financial reports as presented, subject to the audit.

So moved.

We have a motion.

Do we have a second?

I'll second.

We have a second.

Any further discussion?

All those in favor signify by saying aye.

Okay.

Any opposed?

Motion carries.

We will jump to agenda item number 5.2 with the invoices for payment, which are in our packets.

Yes.

Um, in the in your packet, you'll see the invoices.

We had 13 invoices.

Uh, nothing is you know out of the ordinary.

We had the grass and snow, the legal, um, the complete home specialist, that was for the repair of the HVAC system for 9th Street.

Um, the QuickBooks charge as Ellen was talking about, and then we have the Keystone property management for the TARP on North 19th Street that was spoken about last month.

Um, everything else is just you know the normal utilities that we have to pay.

The truist bank the 599 that's there.

That was uh because I told Ellen to hold on paying a bill because I was trying to figure out what it was for, and we got charged the 599 uh balance, so that is my fault.

Um, but other than that, it is all um ordinary um invoices.

So there's 13 invoices totaling 13,365, 365.49.

We have a motion to approve the payments.

Do we have a second?

Uh any further discussion.

Just a quick question, uh Kelly.

That 599.

So we're not gonna see that moving forward.

Okay, gotcha.

Sounds good.

Anyone else have any other questions on the payments?

Seeing none.

Uh all those in favor signify by saying aye.

All right.

Aye.

Any opposed?

Motion carries.

All right, we will jump to agenda item number six point oh with an inventory update.

Okay, um, you have your inventory sheet.

Um, actually, this month um it was actually quiet, which is really nice.

Um, on the sheet it says uh when Anthony uh did the inspection and he did five inspections this month, which was great.

Um, but everything else, nothing uh was crying or needed attention, so everything was as it should be for the month, so it was kind of quiet, which is great.

I think that's good to hear.

Yeah, because it's been cold, it's been cold outside for a while, yeah.

That's why nobody's out making it respond, wreaking havoc.

Very good.

Anyone have any questions on the inventory?

Uh check list here.

Very good.

Uh, we will jump to agenda item number 7.0 with some old business with our RFP updates.

Yes, um, as you know, the RFPs uh we had the submissions and the committee met last week, and we'll be discussing that in um executive session.

Uh so those were for 725 North 10th Street and 540 Hamilton Street, and 802 Walnut Street was released as an RFP, and our walkthrough is scheduled for next Wednesday.

Um, and so we'll have that, and then after the walkthrough, we'll have the Kevin will hold the technical um assistance uh webinar like we did before to answer any questions before the submissions.

Uh, but it's running smoothly.

Kevin, do you have anything to add?

Okay.

When are the submissions due?

They're due July 10th.

Yep.

Great.

Very good.

Can I just um relate that we do have a um person who has expressed interest in joining the board who um was told all the ins and outs of the meeting schedules and the times of day, and uh has worked the schedule does work appropriately, so we're hoping it's just a matter of formality that the mayor signs the paperwork once submitted, and that uh we have a fifth board member joining next month.

Oh, fantastic.

Great.

Uh just from past uh experience, I think Tony had the same thing.

We could just watch to make sure that they receive their uh their letter um that they were approved and everything once that happens because I think um it's been jumbled up a little bit.

Absolutely, and not that that was your fault.

We're gonna call and make sure that that happens.

Yeah, perfect.

Sounds good.

Uh anyone else have any other questions or comments on the inventory or RFP updates at all.

With that, we'll jump to executive session.

Um it is now.