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In 2025, Great Oaks Apartments completed its 15-year compliance period. At that time,
the investor member exited the partnership and NNRHA created a new entity, GO
Senior LLC, to replace the investor member. Because of this change, Great Oaks
Apartments was able to start paying on a promissory note that it has with the Authority.
Anaoual interest payments of $72,361 will be paid to the COCC for the next nineteen
years.
The expenses to the COCC are all typical administrative functions of the Authority
including program management functions of the Executive Office, and the Finance,
Administrative Services, and Community Development Departments, specialized
maintenance services and housing program oversight.
Overail COCC expenses total $2,805,696 (4.5% less than last year) leaving a positive
cash flow of $20,904.
Due to the loss of the grants and programs, the COCC was required to reduce costs.
We have implemented Cost Containment meetings with all departments to ensure the
Authority is reducing costs and enhancing revenue when available.
As mentioned previously, salary increases are applied authority-wide, all programs and
properties must be able to afford the increase. Unfortunately, some programs cannot
afford a salary increase. However, we are able to provide a $500 bonus to be given to
staff to ease the increased cost of living, to be given at the start of the first pay period in
January 2026.
The attached resolution approving the Public Housing and Central Office Cost Center
budgets is recommended.Jump to an indexed page (66 of 66)