HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 05/08/2013 MINUTES of
May 08, 2013 Meeting
STAFF PRESENT
Hector G. Vallejo, NSD Program Manager
Isidoro Prado, Housing Administration Supervisor
MEMBERS PRESENT MEMBERS ARSE T
Alice Vaughn Dalia Garcia
Barry Lobell David Cantu
Herbert Schueneman Keith Parker
Robert C. Pate Ben Molina
Cathy Mehne Maria Clarissa Lopez-Brisen
Monique Espinosa
Call to Order: le Alice Vaughan, Chairperson, called the meeting to order at 12:00 p.m., in e 1st Floor
Staff Conference Room, 1201 Leopard St., City Hail.
Roll Call:
Mr. Vallejo called the roll reflecting five (5) members present and six ( } members
absent. Mr. Vallejo informed Ms. Vaughan a quorum was present.
Approval of Minutes:
Ms. Vaughan asked the Committee for approval of the Minutes of the May 08, 2013
meeting. Motion was made by Mr. Lobell to approve the minutes as presented and
motion was seconded by Ms. Mehne. Motion passed unanimously.
Single Family Loan Requests:
Lopez, Lupe 11302 Blades
The loan application presented by Mr. Prado was for Lupe Lopez„ 11302 Blades,
under the Demolition & Replacement Loan Program, Mr. Prado informed the
Committee that Mrs. Lopez will be having an 840 sq. ft., 2 bedroom, 1 bath house
reconstructed. He will be receiving a 0% loan in the amount of$17,000; Minimum
Deferred Loan for $18,000; and a Deferred Forgivable Loan of$20,000.
Mr. Prado informed the Committee that Mrs. Lopez's net monthly income is $603.00...
The Corporation will be in the first lien position. She is within the total monthly housing
payment to income ratio of 30% and the 40% total monthly debt to income ratio. Her
credit score is 654. The appraised value of the home after rehabilitation is x$59,734.00.
Mr. Prado recommended approval of the loan application based on the Corporation
being in the first lien position; she has good monthly ratios and good credit score.
A motion was made by Ms. Mehne to approve the loan, and second by Mr. Lobell.
Motion passed unanimously.
Adiourn
With no further business to discuss, a motion to adjourn was made by Mr. Pate and
second by Mr. !obeli. Motion passed unanimously.
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