The AHEPAN - Summer 2015 - 23

HOUSING

ANHC Directors Hold Annual Meeting
George Anagnostos, PSS
The ANHC Executive Committee
opened its work by hearing from
President Arthur Poly, AHEPA
Management Co. (AMC), who reviewed
the operations of the company since its
third quarterly teleconference meeting
in February. His report will be amplified and covered in the full directors
meetings to come. The board offered
its comments and asked questions of
the president.
Items brought up under Old
Business included the rights of First
Refusal when and if the properties
of the corporation might be offered
for sale. This item has been worked
on and details are being ironed out.
A further ongoing item has been the
cash advances that have been made
to the various projects and ANHC
Management is in the process of cataloging such occurrences and charging
to proper activities in order to align
the books accordingly in the event of
future sale or disposal. Another longstanding item has been the repayment
of past MCI and loans to projects. This
is now nearing an end and this year's
payment(s) should complete commitments. In addition, work on Uniform
Bylaws of the owner corporations and
the group exemption umbrella for the
charitable foundations continues and
nears completion.
Under New Business the committee was briefed on acquisition possibilities and the assisted living and the tax
credits being utilized. The AMC budget
for the coming year was received and
discussed.
A major item considered under
New Business was the Strategic
Planning Committee which under the
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persons and those filling in for absent
new rules of business availabilities and
members.
planning has become very important
Kostarides
also
introduced
and has assumed much discussion and
Daughters of Penelope Grand President
thought.
Anna-Helene Grossomanides who
During the interim until the annual
spoke to the attendees. In her remarks
directors meeting, the various standshe stated how happy she is to be
ing committee members met and prehere and see what we are all about.
pared their own committee's reports.
She explained her association with the
The annual corporation directors
fraternity at Norwich, Conn. where a
meetings began early Friday as an
Daughters chapter was revived and
indication of the increasing complexity
what they are doing, especially in the
and accumulation of items that must be
elderly housing there.
covered in the new business environKostarides then presented his
ment faced by the members. Chairman
report citing the impact of the decline
of the Board Nick Stratas opened up
of the HUD 202 program on us and the
the meeting welcoming new members,
importance of the Strategic Planning
the new properties and the new ways
of business in the
new world of elderly
housing. President
Angelo Kostarides
began by asking for
a moment of silence
for those passing and
especially for the son
of Angela Magrames,
president of Penelope
60, Inc., and also
John
Magrames, The new officers of ANHC and the Executive Committee are (from
AHEPA 100, Inc. He left, front): N. Kallan, treasurer; Chair Nick Stratas; C. Karthan, secretary; A. Kostarides, president; and G. Nardone, v. pres.; Standing:
welcomed all and D. Kiriazides, J. Karthan, J. Miller, E.P. Mitchell, and S. Photiades.
introduced the new Absent from photo are C. Hollister and C. Mackenzie.

Officers and directors of ANHC and staff are shown with Grand President Anna-Helene
Grossomanides, seated, center.

Summer 2015 · THE AHEPAN

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