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MHDC swears in new members, signs off on FY2019 budget

JEFFERSON CITY, Mo. – It’s been nearly a year since the last annual meeting of the Missouri Housing Development Commission, and on Friday, the MHDC returned to swear in new members and vote on their proposed budget.

The first item of the day was to swear in Mark Elliff of Carthage and Rick McDowell of Parkville as new commissioners.

Mark Elliff, of Carthage, is the President/CEO and Director of Economic Development at Carthage Chamber of Commerce. Elliff holds a bachelor’s degree in business administration from Missouri Southern State University. He is a member of the Carthage Rotary Club, Community Support Services, and the McCune Brooks Health Care Foundation.  

Rick McDowell, of Parkville, is the President and CEO of Lee’s Summit Economic Development Council. McDowell was previously the Executive Director at the Liberty Economic Development Corporation and has more than 27 years of experience working in economic development. He holds a bachelor’s degree in business and finance from Missouri State University and is a licensed realtor. He is a member of the Missouri Economic Development Council, Rotary Club, International Economic Development Council, and the Eastern Jackson County Alliance. 

After welcoming the two new members, the commission approved the minutes from the Dec. 2017 meeting in which then-Gov. Eric Greitens led the charge to withhold housing tax credits for 2018.

In Friday’s meeting, no such actions occurred, with the commission completing the minute in roughly a half hour.

With more than five dozen people sitting in attendance, the commission received the audit report from their committee,

The commission also signed off on the proposed budget for the fiscal year 2019. It includes total revenues of $235.8 million, $212.8 mullion in expenses an $3.1 million in subsidy programs. The budgeted activity includes federal and grant program revenues of $162.3 million and expenses of $156.3 million.

It was passed with a unanimous 7-0 vote.

You can view the breakdown here in the meeting notes:

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The commission also approved Resolution 1059, authorizing the issuance of sin gel family mortgage revenue bonds in or more series for a total amount not to exceed $300 million, in conjunction with the Commission’s First Place Loan Program, which offers first-time homebuyers and veterans a competitive 30-year fixed rate mortgage financing to buy a home.

They also approved a draft allowing for the requesting of proposals from banks for MHDC’s Investment Policy, as their term of service with its banking institutions ends in December 2018. In addition to that, they approved 25 applications for rental production, with none of those 25 reaching any negative comments during the process.

The MHDC also signed off on a request to modify policies of theirs, as the passage of Senate Bill 1007 took effect on August 28, 2018. Among the changes the merit bill brought, MHDC is no longer included in the merit system of employment, so the MHDC will update the language.