HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 02/10/2010 Rs
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LOAN REVIEW COMMITTEE Fee
WEDNESDAY1 ,
NOONary 10, 2010 �AgyS�Cf
MINUTES
January 13, 2010 meeting
STAFF PRESENT MEMBERS ABSENT
Eddie Ortega, Director Cliff Atnip
Hector G. Vallejo, NSD Program Manager Barry Lobell
lsidoro Prado, NSD Housing Administration Supervisor Keith Parker
MEMBERS PRESENT
Alice Vaughn
Abel Alonzo
Chris Hamilton
Coretta Graham
Jodi Steen
David Cantu
Javier Arroyo
Clarissa Lopez
Chairperson, Alice Vaughn called the meeting to order in the First floor Staff
Conference Room, 1201 Leopard St., City Hall.
Second order of business was roll call which was taken reflecting eight members
present and three members absent.
The third order of business was to approve the minutes of the November 11, 2009
meeting. Motion was made by Mr.Alonzo to approve the minutes as presented and
motion was seconded by Ms. Steen. Motion passed unanimously.
Mr.Vallejo introduced to the Committee the new Director of Neighborhood Services
Department, Mr. Eddie Ortega. Mr. Vallejo also introduced two (2) new members
Mr. Javier Arroyo (Financial)who is replacing Sylvia Ford and Ms. Clarissa Lopez
(Health/Human Services) who replacing Judy Telge.
SCANNED
The following loan was presented for review:
Rodriquez, Mauro—4214 Barrera
The first application presented by Mr. Vallejo was under the Demolition and
Replacement Loan Program. Mr. Vallejo informed the Committee that Mr.
Rodriguez will be having a 796 SF, 2 bedrooms and 1 bath house reconstructed.
Mr. Rodriguez will be receiving a 0% Loan in the amount of$17,000, a Minimum
Deferred Loan of $18,000 and a Deferred Forgivable Loan for $18,065. The
Corporation will be in a first lien position. Mr. Vallejo informed the Committee that
Mr. Rodriguez's net income is $968.00. Mr. Rodriguez's credit was rated as good
with a credit score of 590.The title appears in his name. Mr. Rodriguez is within the
total monthly housing payment to monthly income ratio of 30%. He is also within
the monthly debt to income ratio of 40%. Appraised value after reconstruction is
$59,860.
Mr. Vallejo recommended approval based on the Corporation being in a first lien
position; credit score; and Mr. Rodriguez with within the 30% and 40% ratios.
A motion was made by Mr. Alonzo to approve the loan, second by Mr. Cantu.
Motion passed unanimously.
With no further business a motion to adjourn was made by Mr. Cantu and second
by Ms. Steen. Motion passed unanimously.