HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 04/22/2015 CORPUS CHRISTI COMMUNITY IMPROVEMENT
CORPORATION
LOAN REVIEW COMMITTEE
April 22, 2015
MINUTES
STAFF PRESENT
Felicia Lopez, Housing Administration Supervisor
Josie Strahan, Loan Processor
Caleb Brambila, Management Aide
MEMBERS PRESENT MEMBERS ABSENT
Alice Vaughn (Chairwoman) Keith Parker
Barry Lobell Dalia Garcia
Maria Clarissa Lopez-Briseno Ben Molina
David Cantu Cathy Mehne
Monique Espinosa
Call to Order:
Alice Vaughn, Chairwoman, called the meeting to order at 12:00p.m., 1st Floor Staff
Conference Room, 1201 Leopard St., of City Hall.
RollCall:
Mrs. Felicia Lopez called roll reflecting five ( ) members present and four ( ) members
absent.
Approval of Minutes:
A motion was made to approve the minutes for March 11, 2015 by board member Mr.
David Cantu and seconded by board member Mr. Barry Lobell. Chairwoman Alice
Vaughn moved to accept the minutes as written. Motion carried.
Single Family Loan Requests:
Cynthia Louise Maxwell -
(Due to some technical difficulties with our recording equipment, this meeting was not
recorded. These minutes are an overall summary of the meeting and are to the best of
my knowledge and notes accurate.)
Mrs. Felicia Lopez presented the loan application for Cynthia Louise Maxwell, 1817
Shely, under the Demolition & Replacement Loan Program for $75,230. Ms. Cynthia
Maxwell will have an 840 sq. ft., 2 bedroom, 1 bath home constructed. They will be
receiving a 0% loan in the amount of$21,815, a minimum deferred loan of$18,000, a
Deferred Forgivable loan for $20,000, and is paying $1,615 in Owner's Share. Also,
included is a $7,000 Relocation Grant and a Demolition Grant in the amount of$6,800.
Leaving the total loan amount to be $59,815.
Mrs. Felicia recommending this loan for approval, states that the City of Corpus Christi
will have the first lien position on the property which has clear title. Mrs. Lopez states
that Ms. Maxwell has no liabilities and also does not receive food stamps. Their
purposed housing ratio is 11% and debt to income is 5%.
Monique has asked about the credit report that was pulled to see why the credit report
was in the new format and not the old. Felicia then replied it was because the system
only allowed them to print out the new style credit report. David Cantu went on to ask if
Ms. Maxwell is tax exempt. Felicia quickly replied yes because of her being disabled. A
motion was made by board member Mr. David Cantu to approve the loan as presented,
and seconded by board member Ms. Clarissa Lopez-Briseno. Chairwoman Alice
Vaughn states it's been moved and seconded that this loan has been approved as
presented. She then asked if there was any further discussion regarding this loan
application.
A question was also raised about the delinquencies update. Felicia responded by
saying she asked her supervisor but has not been given an answer yet and will try
asking again in hopes of getting an answer before the next meeting.
ADJOURN:
A motion to adjourn was made by Mr. David Cantu and seconded by Barry Lobell.
Motion passed unanimously.