In addition to these properties, the 124-unit Carr Square property was operated as a tenant cooperative, and Murphy Park, with 93 units, was a mixed-finance project that remained separate from the other SLHA properties.
The restructuring process began in early 1999, and SLHA's board appointed Cheryll Lovell executive director.
By the spring of 1999, the SLHA elected to use a Request For Proposal (REP) process to solicit potential private firms.
Management fees for the properties ranged from $24 to $27 per unit, and would be paid by the SLHA to the private management firms.
And in an interesting arrangement, the agency mandated that most of the management responsibilities be handled by the private firms, not by the SLHA.
This was extremely important, because the private management contract used by the SLHA requires the firms to be responsible for nearly all of the routine tasks that are expected of a private manager in the conventional market.
It also forced the SLHA to work in a project-based system.
Because the SLHA had not maintained a sufficient accounting system over the years, the agency collected data on operating costs of subsidized housing in the St.
At the agency level, SLHA received approximately $271 PUM in non-utility revenue under the new system.
Management also changed its hiring practices for employees, beginning in mid-1999, when the SLHA stopped filling vacant positions.
SLHA has been working on developing a streamlined management plan document that can be used as a management tool to replace the lengthy routine procedures that are common in management plans but are unnecessary for private companies dealing with public housing management.
The SLHA has also created an office of Asset Management, staffed with a director, two assistant asset managers and three clerical staff, to aid the private companies.