HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 04/27/2016 3
CORPUS CHRISTI COMMUNITY IMPROVEMENT
CORPORATION
LOAN REVIEW COMMITTEE
April 27, 2016
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MINUTESOCT 2 7
2016
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STAFF PRESENT
Rudy Bentancourt, Director
Kelly Fry, Program Manager
Melissa DeLeon, Management Aide
PRESENTMEMBERS MEMBERS ABSENT
Alice Vaughn (Chairwoman)
Barry Lobell
David Cantu
Monique Espinosa
Cathy Mehne
Maria Clarissa Lopez-Briseno (delayed)
Call toOrder:
Alice Vaughn, Chairwoman„ called the meeting to order at 12:10p.m., 1st Floor Staff
Conference Room, 1201 Leopard St., of City Hall.
Roll Call:
Mrs. Melissa DeLeon called roll reflecting six (6) members present.
Approval ofMinutes:
A motion was made to approve the minutes for January 20, 2016 by board member Mr.
Barry Lobell and seconded by board member Mr. David Cantu. Chairwoman Alice
Vaughn moved to accept the minutes as written. Motion carried.
Single Family Loan Requests:
4
Olivia Lopez-
Ms. Kelly Fry presented a loan application for Olivia Lopez, 2612 Goliad, under the
Demo Replacement Loan Program for $82,050.00. They will have an 884 sq. ft., 2
bedrooms, 1 bath home constructed. Ms. Lopez will be receiving a 0% loan in the
amount of$24,450.00, with a minimum Deferred loan of 18,000 and a $25,000 Deferred
Forgivable loan. Also, included is a $7,000 Relocation Grant and a Demolition Grant in
the amount of$7,000. Leaving the total loan amount to be $89,990.00.
Ms. Lopez recommending this loan for re-approval, states that their credit remained the
same. Their purposed housing ratio is 22% and debt to income is 31%. Their new home
payment will be $161.50.
A motion was made by board member Ms. Monique Espinosa to approve the loan as
presented, and seconded by board member Ms. Cathy Mehne. 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.
Further business:
All members are in favor of being reappointed.
Ms. Monique Espinosa and Mr. David Cantu inquired the number of loans delinquent
and the steps to recoup the funds. Mr. David Cantu asked if Housing and Community
Development had an attorney to process foreclosures on the delinquent accounts and
stated investors would be interested in purchasing the homes. The proceeds of the
homes would be available to pay for the attorney fees. Ms. Monique Espinosa agreed
that it would help the city's issue with affordable housing.
Ms. Kelly Fry mentioned there are 48 loans delinquent passed 120 days. Mr. Rudy
Bentancourt explained the recertification process of outstanding loans and he is working
with our legal department on delinquent accounts.
ADJOURN: A motion to adjourn was made by Barry Lobell and seconded by David
Cantu. Motion passed unanimously.