The AHEPAN - Fall 2015 - 21


AMC Board Meets for First Quarterly Meeting
George Anagnostos, PSS
The AHEPA Management Company
(AMC) Board of Directors met at the San
Francisco Supreme Convention, serving also as the Executive Committee
in its agenda of quarterly fiscal year
meetings to govern the working process of the entity and provide guidance for its operation as the
wholly-owned subsidiary of the
AHEPA National Housing
The first meeting took
place on Thursday, July 2, with nine
Board members and three staff members in attendance.
The meeting began with a moment
of silence for recently deceased directors of the Corporation John Magrames
of AHEPA Apartments 100, South Bend.
Ind., and Dino Manolopoulos, AHEPA
Apartments 78-I-VI, Merrillville, Ind.
The minutes of the meeting of the
annual meeting in April were approved
and AMC President and CEO Arthur
Poly began his report on the status
of the company from the date of the
annual to date.
During the question and answer
portion he covered the AALF program
which is an important part of the

corporation's future. The corporation
searches for locations in our current
general operating area and are in a
qualified census tract.
Land and soft costs are included in
the AALF program and are rolled into
the deal's financing. The corporation
must research how to proceed,
succeed and grow in the future,
including staff issues.
Our consultant in the
District of Columbia area,
Andrew Kaffes, was then introduced and
he presented the legislative issues. For
Fiscal Year 2016, the housing budget was
reduced by $41 million from the FY 2015
amount, thus reducing PRAC renewals.
He also summarized a roundtable discussion he attended with Jennifer Ho,
senior advisor to the HUD secretary,
who manages HUD's work connecting
housing, health and social services. She
stated the country needs to develop
and sustain 900,000 housing units, as
one in three need assistance. She stated
the Section 202 housing program needs
an overhaul and is not appealing to
Congress and must be tied to healthcare.
The AMC financials were discussed as of June 2015. Performance is

expected as budgeted.
The 'right of first refusal' in case of
the sale of any property we currently
operate was discussed. A memo will
be drafted and circulated to all Boards
for execution.
The meeting was adjourned but
continued later that day with the same
A discussion of candidates to fill
the committee vacancy created by the
election of George Nardone as vice
president was held. His term was to
expire at the 2016 annual.
The meeting adjourned until the
next day.
The meeting resumed the next day. A
proposal for Public Relations Policies and
Procedures was distributed to review
and read, offer suggestions to help local
presidents with these issues. It was suggested that AMC's marketing consultant
Diane Diamantis review the proposal.
The president spoke about the
vacancy on the committee and it was
voted to fill the vacancy with the candidacy of George Anagnostos, effective
The first quarterly meeting of the
committee was adjourned.

News from the Properties
AHEPA Management Company (AMC) and new non-ANHC
properties have made the news recently.
Recently, AMC contracted for management responsibilities
for a non-AHEPA entity. A newly-constructed apartment community for the physically disabled has had its first residents
move in.
The Woods at Crooked Creek in Indianapolis is a HUDsubsidized property for physically disabled citizens ages 18
and over and has 15 units. The first residents began moving

in at the end of May. It is expected to be fully occupied by
August. The units are one-story, unfurnished, and include a
community room and are close to shopping and food facilities.

New Property Manager Announced
AMC has named Rebecca Maier as the new property manager
for AHEPA 192 Apartments in Johnston, Iowa, which consist
of 60, one-bedroom units for low income elderly.
Maier has 10 years of experience in housing coordination
Fall 2015 ยท THE AHEPAN



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