HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 11/13/2013 iP
MINUTES of
November 13, 20,13 Meeting
STAFF PRESENT
Hector G. Vallejo, NSD Program Manager
Isiidoro Prado, Housing Administration Supervisor
MEMBERS PRESENT MEMBERS ABSENT
Alice Vaughn Cathy Mehne
Dalia Garcia vacate
Monique Espinosa vacate
Ben Molina
Maria Clarissa Lopez-Briseno
Barry Lobell
David Cantu
Keith Parker
Call to Order:
Alice Vaughan, Chairperson, called the meeting to order at 12°00 p.m., in the 1st Floor Staff Conference
Room„ 1201 Leopard St,., City Haulm
Roll Call:
Mr. Vallejo called the roll reflecting eight (8) members present and one (1) member 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 September 11, 2013 meeting...
Motion was made by Mr. Cantu to approve the minutes as presented and motion was second by Ms.
Garcia Motion passed unanimously.
Sin le Family Loan Re uests:
Lozano, Magdalena F. 2838 Sarita
The loan application presented by Mr Prado was for Ms. Magdalena Lozano, 2838 Sarita, under the
Demolition&Replacement Loan Program. Mr. Prado informed the Committee that Ms.Lozano has a clear
title. Ms, Lozano will be having an 840 sq. ft., 2 bedroom, 1 bath house reconstructed! She will be
receiving a 0% loan in the amount of $17,000; Minimum Deferred Loan for $18,000; ajd a Deferred
Forgivable Loan of$19,290... Ms.. Lozano will also be receiving a$7,000 Grant for Relocation and a$6,535
Demolition Grant.
Mr, Prado informed the Committee that 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% back-end ratio. Ms.' Lozano's net
monthly income is $383.00 and her credit score is 601. The appraised value of the home after
rehabilitation is$61,450.00,
Mr.. Prado recommended approval of the loan application based on the Corporation being in the first lien
position; good monthly ratios; good credit score;; and having few liabilities.
A motion was made by Mr. Lobell to approve the loan and was second by Mr. Cantu. Ms.Vaughan moved
and asked if there was any further discussion regarding this loan application. There being no further
discussion,, Ms. Vaughan called for a vote. Motion passed unanimously.
Adjourn
Ms, Vaughan asked if there was any other business, with none indicated, she asked for a motion to
adjourn. A motion to adjourn was made by Mr- Lobell and second by Mr. Cantu. Motion passed
unanimously.