This page was read by OCR. Text can misread numbers, dates or table columns. Check the PDF before quoting or interpreting it. Redacted areas remain redacted.
Roll Call
Approve Minutes of
January 16, 2024
Meeting
Election of Chairman
and Vice Chairman
Affinn Appointment of
President, Secretary and
Treasurer
A Resolution of the
Board of Directors
authorizing the Charge
Off of Tenants’
Accounts Receivable
Other Business
Minutes of a Meeting of the
Lower Jefferson Avenue Development Corporation
January 21, 2025
Having duly given public notice, the Board of Directors of the Lower Jefferson Avenue
Development Corporation met at the offices of the Authority at 227-27" Street, in the
City of Newport News, Virginia, at 9:41 a.m. on Tuesday, January 21, 2025.
The meeting was called to order by Chairperson Davis and those present were as
follows:
Kenneth Penrose
Lisa Wallace-Davis
William Black
George Knight
Barbara Holley
Thaddeus Holloman
Lou Call
Directors Present:
Also present: Raymond H. Suttle, Jr.
Kaufman & Canoles, P.C.
Lysandra M. Shaw
Executive Director
Tera Lockley
Director of Housing
Valarie Ellis, Director
Administrative Services
Lisa Dessoffy, Director
Finance
David Staley, Director
Community Development
Kayonia M. Betts
Executive Assistant
Justin Orie
NNRHA IT Department
Director Penrose made a motion to approve the minutes of the January 16, 2024,
meeting. The motion was seconded by Director Knight and passed with a majority vote.
Ms. Cail abstained as she was not present.
Director Penrose made a motion to elect Dr. Lisa Wallace-Davis to the position of
Chairman and Mr. Thaddeus Holloman to the position of Vice Chairman. The motion
was seconded by Director Black and passed with a unanimous vote.
Director Penrose made a motion to affirm the appointment of Lysandra Shaw as
President, Secretary and Treasurer. The motion was seconded by Director Knight and
passed with a unanimous vote.
Ms. Shaw reported as of September 30, 2024, there are five accounts recommended
for charge-off action with a total dollar value of $26,496.78. This represents 9.7% of
Jefferson Brookville Apartments’ net rental revenue. We budget 2% for bad debt at
Jefferson Brookville Apartments
Director Knight made a motion to approve the resolution. Director Black seconded the
motion which passed with a unanimous vote. The resolution is attached to and made a
part of these minutes.
Ms. Shaw reported that on December 31, 2024, the property had a balance of
$108,707.19 in replacement reserves, $105,408.38 in operating reserves, 96%
occupancy.Jump to an indexed page (75 of 75)