HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 11/13/2013 (2) CORPUS CHRISTI COMMUNITY IMPROVEMENT CORPORATION
LOAN REVIEW COMMITTEE
NOVEMBER 13,2013
MINUTES
STAFF PRESENT
Hector G. Vallejo, NSD Program Manager
Isidoro Prado, Housing Administration Supervisor
MEMBERS PRESENT MEMBERS ABSENT
Alice Vaughn (Chairwoman) Ben Molina
Barry Lobell Cathy Mehne
Dalia Garcia Keith Parker
David Cantu
Maria Clarissa Lopez-Briseno
Monique Espinosa
Call to Order:
Meeting was called to order at 12:00p.m., in the 1" Floor Staff Conference Room, 1201 Leopard
St.,of City Hall.
Roll Call:
Mr. Hector Vallejo called roll emulating six (6) members present and three (3) members absent.
Mr. Vallejo informs the Board two members Mr. Hebert Schuenenman and Robert Pate have
resigned from the Loan Review Committee Board.
Approval of Minutes:
A motion was made to except the minutes for November 13,2013 by Mr. David Cantu and
second by Ms. Delia Garcia. Chairwoman Vaughn so moved to accept the minutes as wr'tten.
Motion carried.
Single Family Loan Requests:
Cardona, Esther R., 2726 Cleo St.
Mr. Isidoro Prado presented an application for Ms. Esther R. Cardona residing at 2726 C eo St.
Ms. Cardona will be receiving a Demolition and Replacement consisting of an 840 sq. ft. home
with 2 bedrooms, 1 bath. She will be receiving a 0%loan in the amount of$17,000 and a
Minimum Deferred Loan of$18,000 and a Deferred Forgivable Loan of$20,000. Mr. Przdo
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states there will be a demolition grant of$5,300 and a relocation grant of$7,000. Ms. Cardona
will provide owners share of$3,665 this amount will be given to Ms. Cardona by family
members such as her daughter which has sent in a letter stating she will help Ms. Cardoa with
$2,000 and her sister Mary Lou Hensley will assist her with $638 and Ms. Cardona will bA saving
the remaining balance owed.
Mr. Prado states the City of Corpus Christi will be in the first lien position. Ms. Cardona has a
net monthly income of$689 as of November 711, her credit score is 759 which is consideired
excellent states Mr. Prado, and the title appears clear. Mr. Prado informs the Board that Ms.
Cardona meets the monthly total housing payment income ratio,the dept to payment income
ratio is a little over, she is at fifty-two percent. The appraised value of the home is$62,19.
Mr. Prado's recommendation is to approve the case, based on the applicant's excellent credit
rating, her stable employment as a Home Health Care giver contributing to her net inco r e of
$689, in addition to her regular income her employer states she is able to work overtime when
needed;and finally the corporation will be in a first lien position.
A motion was made by Chairwoman Vaughn to approve this loan as presented. Chairw man
Vaughn addressed the board for further discussion. With no further discussion, a vote was
called by Chairman Vaughn. Motion passed unanimously.
Adjourn:
Chairwoman Vaughn asked if there was any other business. With no other business presented.
The Chairwoman of the Board made a motion to adjourn. Motion Carried.