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4 EN 041U r z U.S.DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT '* *= WASHINGTON,DC 20410-5000 G4&4N D¢VEOQ OFFICE OF PUBLIC AND INDIAN HOUSING DEC 212012 Ms. Barb Carlson, Executive Director Housing and Redevelopment Authority of Pequot Lakes P.O. Box 243 Pequot Lakes, MN 56472-0243 Re: Public Housing Agency Recovery& Sustainability(PHARS)Remote Assessment Dear Ms. Carlson: On May 15, 2012,the Pequot Lakes HRA was designated Troubled by HUD's Real Estate Assessment Center("REAC")for the fiscal year ending March 31,2011. This letter is to notify you that because of this designation, a HUD PHARS Team will be conducting an assessment your agency's financial condition and governance. The purpose of the assessment is to document the causes of the Pequot Lakes HRA's substandard performance and provide information for the development of a Recovery Agreement and Action Plan. HUD's PHARS Team,which will consist of members from the Office of Public and Indian Housing,the Office of Field Policy and Management,and the Departmental Enforcement Center,will first conduct a remote assessment to determine if and to what extent an on-site assessment by the Team is necessary. The scope of the preliminary remote assessment is April 1, 2010 through December 31, 2012. The PHARS Team requests you provide the following information and/or documents: • List of programs for which HUD funds are received, e.g., Operating Fund, Capital Fund, Recovery Act Capital Fund(ARRA), Section 8, etc. • List of developments owned(in whole or in part) and/or managed by the agency, including but not limited to Public Housing,Project-Based Section 8, Project-Based Vouchers, Moderate Rehabilitation, Low Income Housing Tax Credits, Farm Labor Housing,Migrant Housing,market rate housing, etc. • Copies of the approved Operating Budgets for FYE 3/31/11, 3/31/12, and 3/31/13. • Copies of Board minutes for FYE 3/31/11. • Monthly financial statements for FYE 3/31/11 and 3/31/12. • Board packet for the month Board approved the Operating Budget for FYE 3/31/11.