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HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 11/02/2016 3 CORPUS CHRISTI COMMUNITY IMPROVEMENT CORPORATION „ LOAN REVIEW COMMITTEE November 2, 2016 MINUTES JAN 'l ' 017 s LEE§EWARY STAFF PRESENT Rudy Bentancourt, Director Elizabeth Alvarado, CD Administrator Kelly Fry, Housing Program Manager Melissa DeLeon, Management Aide MEMBERS PRESENT MEMBERS ABSENT Alice Vaughn (Chairwoman) Maria Clarissa Lopez-Briseno Barry Lobell Monique Espinosa Ashley Bemis Leslie Marin David Cantu Cali to Order: Alice Vaughn, Chairwoman, called the meeting to order at 12:05p.m., 1st Floor Staff Conference Room, 1201 Leopard St., of City Hall. Roll Call: Mrs. Melissa DeLeon called roll reflecting six (6) members present and one (1) member absent. Approval of Minutes: A motion was made to approve the minutes for October 5, 2016 by board member Mr. Barry Lobell and seconded by board member Ms. Maria Clarissa Lopez-Briseno. Chairwoman Alice Vaughn moved to accept the minutes as written. Motion carried. Single Family Loan Requests: Dan Curtis- Ms. Kelly Fry presented a loan application for Dan Curtis, 4549 Elvira, under the Demo Replacement Loan Program for$73,817.00. They will have an 840 sq. ft., 2 bedrooms, 1 bath home constructed. Mr. Curtis will be receiving a 0% loan in the amount of $45,000.00, with a $23,089.00 Deferred Forgivable loan. Also, included is a $3,317.00 Relocation Grant and a Demolition Grant in the amount of$7,000.00. Ms. Fry states that Mr. Curtis has favorable credit with no outstanding liabilities. His housing expense ratio is 16%. He is comfortable of taking a loan with principal and interest of$279.72 a month. Ms. Fry is recommending final approval by the Loan Review Committee. Ashley Bemis stated she noticed a warning on Mr. Curtis' social security number on the deceased list. Ms. Fry stated an affidavit was received for the finding. A motion was made by board member Mr. David Cantu to approve the loan as presented, and seconded by board member Ms. Ashley Bemis. Chairwoman Alice Vaughn states it's been moved and seconded that this loan has been approved as presented. HCD Refinance Presentation: Ms. Kelly Fry provided everyone with the September 2016 delinquency report. The items highlighted in orange are the homeowners they are reaching out to refinance. This is how Housing & Community Development (HCD) is trying to recapture their funds, because HCD cannot foreclosure. If the homeowner is deceased, then HCD will try and get the loans refinanced under the heirs. David Cantu asked if the date to the far right on the report is the date of the last payment received. Ms. Kelly Fry responded yes, for example Francisca Herrera's last payment was in 2008. Barry Lobell asked if this were the accounts HCD was reaching out to first and Ms. Fry responded yes. The oldest account will be addressed first, because it is very likely that the homeowner has passed and the heirs are living in the home. 5 Barry Lobell asked if some delinquent accounts have already been worked on and have made some accomplishments last month. Ms. Kelly replied, yes, they have reached out to a few, but did not include those on the report because she has not received final communication. Ms. Fry will provide a list of accounts that were refinanced on the next Loan Review Meeting. ADJOURN: A motion to adjourn was made by Barry Lobell and seconded by David Cantu. Motion passed unanimously.