Montclair
Preliminary Budget
Fiscal Year 2023 - 2024
Montclair Housing Corporation
Montclair
PRELIMINARY BUDGET
Fiscal Year 2023 - 2024
MONTCLAIR HOUSING CORPORATION
BOARD OF DIRECTORS
Javier John Dutrey, Chair
Tenice Johnson, Vice Chair
Bill Ruh, Board Member
Corysa Martinez, Board Member
Benjamin Lopez, Board Member
Edward C. Starr, President
Montclair Housing Corporation
Montclair
Multifamily properties
1. 10313 Amherst Avenue (4 units)
2. 10323 Amherst Avenue (4 units)
3. 10330 Amherst Avenue (4 units)
4. 10333 Amherst Avenue (4 units)
5. 10380 Amherst Avenue (4 units)
6. 10383 Amherst Avenue (4 units)
7. 10390 Amherst Avenue (4 units)
8. 10410 Amherst Avenue (4 units)
9. 4791 Canoga Street (4 units)
10. 4811 and 4820 Canoga Street (28 units)
11. 4275 Kingsley Street (4 units)
12. 10333 Pradera Avenue (4 units)
13. 10380 Pradera Avenue (4 units)
14. 10390 Pradera Avenue (4 units)
Single-family properties
15. 9448 Carrillo Avenue
16. 9644 Central Avenue
17. 9741 Central Avenue
18. 9751 Central Avenue
19. 9761 Central Avenue
20. 9815 Central Avenue
21. 9945 Central Avenue
22. 9963 Central Avenue
23. 10079 Central Avenue
24. 10087 Central Avenue
25. 10215 Central Avenue
26. 10235 Central Avenue
27. 9010 Fremont Avenue
28. 10291 Greenwood Avenue
29. 9814 Monte Vista Avenue
30. 9875 Monte Vista Avenue
31. 9878 Monte Vista Avenue
32. 5072 Moreno Street
33. 5290 Orchard Street
34. 5225 Palo Verde Street
35. 5444 Palo Verde Street
Montclair Housing Corporation
MHC Position City Position
President City Manager
Vice President Director of Economic Development
Chief Financial Officer Director of Finance
Junior Accountant Senior Accountant
Housing Associate Economic Services and Housing Manager Montclair Housing Corporation
Departmental Assignment of Positions
Fiscal Year 2023-2024
$2,074,294
Rental Income 975,000
Interest Income 18,000
993,000
Subtotal 3,067,294
Salaries and Benefits 0
Audit 1,000
MHC Property Expenses 580,000
Building – Major Improvements 300,000
General Insurance (4330 & 4901) 51,000
Misc/Service Awards/Auto Expenses 450
Health Permit 950
Legal 25,000
Other Professional Services 20,000
978,400
2,088,894
2,088,894
0 $2,088,894
Appropriations:
Estimated Fund Balance, July 1, 2023
MONTCLAIR HOUSING CORPORATION
SOURCES AND USES STATEMENT
FOR THE YEAR ENDING JUNE 30, 2024
Estimated Revenue:
Administrative Costs
Projected Total Fund Balance
Assigned Fund Balance for long-term maintenance and repair Unassigned Fund Balance
Estimated Fund Balance, June 30, 2024
MONTCLAIR HOUSING CORPORATION
JUSTIFICATION OF 2023-2024 EXPENDITURE REQUESTS
Property Expenses--$580,000
Association Dues
4811 Canoga Street
Helena Gardens Owners Association annual dues
4791 Canoga Street
Helena Gardens Owners Association annual dues
10333 Pradera Avenue
Montclair Meadows Owners Association annual dues
10380 Pradera Avenue
Montclair Meadows Owners Association annual dues
10390 Pradera Avenue
Montclair Meadows Owners Association annual dues
9448 Carrillo Avenue
Montclair Patio Homes Owners Association annual dues
MONTCLAIR HOUSING CORPORATION
JUSTIFICATION OF 2023-2024 EXPENDITURE REQUESTS
Property Expenses-- (continued)
Management Contract Fees
J. D. Property Management, Inc. annual fees for the management of the MHC properties.
Utilities
Water, electricity, gas, trash and sewer costs associated with the MHC properties.
Building Maintenance-Upkeep
Day-to-day maintenance costs for the MHC properties, that includes, but is not limited to, on-site manager salaries, landscape maintenance and improvements, fence repairs and/or replacement, interior painting, cleaning, new carpeting, unit turn-arounds, unforeseen plumbing and electrical repairs, and graffiti removal.
Building Repairs-Major--$300,000
Major building repairs scheduled for the following properties:
Canoga Street apartment remodels for specific units at the time of a turn around. Anticipating two bathroom remodels, that includes new plumbing, new bath tub and shower wrap, and new bathroom cabinet, sink, and faucets.
Landscape restoration and landscape material replenishment on all existing properties.
Tree trimming throughout Amherst, Pradera, Kingsley, and single-family properties.
MONTCLAIR HOUSING CORPORATION
JUSTIFICATION OF 2023-2024 EXPENDITURE REQUESTS
Building Repairs-Major-- (continued)
Turf removal on select properties and replacing with drought-tolerant landscape and hardscape materials.
Landscape improvements at 9945 and 10235 Central Avenue, 9010 Fremont Avenue, and 5072 Moreno Street.
Exterior painting, fascia repair, and landscape improvements at 9875 Monte Vista Avenue.
Exterior painting, fascia repair, and roof replacement at 9878 Monte Vista Avenue.
Exterior painting, fascia repair, and landscape improvements at 9644 Central Avenue.
Exterior painting, fascia repair, and landscape improvements at 9963 Central Avenue.
Exterior painting, fascia repair, and at 9761 Central Avenue.
Painting of tubular fencing and repair of wood fences at all Amherst Avenue properties.
Improvements to all decks at Amherst Avenue properties, including re-sealing and replacement as needed.
Exterior painting of Canoga Street (Patio Apartments) buildings and replacement all damaged wrought iron gates.
Exterior painting and fascia repair of Pradera Avenue (10333, 10380/10390) buildings.
Miscellaneous/Service Awards/Auto Expenses--$450
Estimated cost of miscellaneous, service awards, and auto expenses.
MONTCLAIR HOUSING CORPORATION
JUSTIFICATION OF 2023-2024 EXPENDITURE REQUESTS
Legal Costs--$25,000
Estimated cost of legal fees for the Montclair Housing Corporation.
Other Professional Services--$20,000
Estimated cost for completion of Reserve Study for all MHC properties.
Estimated cost for affordable housing consultant studies for all MHC properties.
Health Permit--$950
Health Permit for the pools at 4811 and 4820 Canoga Street apartments.
Audit Fees--$1,000
Cost of audit fees for the Montclair Housing Corporation.
ASSIGNED FUND BALANCE LONG-TERM MAINTENANCE/REPLACEMENT--$2,088,894 Reserve for long-term maintenance/replacement of capital improvements pursuant to Reserve Study.