HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 02/12/2003 G
kt:
MINUTES N ECv-EScn�w w'
CORPUS CHRISTI COMMUNITY IMPROVEMENT CORP Ap\GE
co/'
LOAN REVIEW COMMITTEE w°;
iu/
WEDNESDAY, February 12, 2003 s8<sst ��
¢Z�
12 NOON
STAFF PRESENT MEMBERS ABSENT
Hector G. Vallejo, Program Manager Alynda Asher
Raul Torres
Dipak V. Deasi
MEMBERS PRESENT
David Barganski
David Cantu
Ben Grande
Barry Lobell
Daniel Suckley
Caroline Stahl
Alice Vaughn
Chairperson, Alice Vaughn called the meeting to order in the
First Floor City Council Conference Room, 1201 Leopard St., City Hall, roll
call was taken reflecting seven members present.
First order of business was to approve the minutes of the January 15, 2003
meeting. With no corrections made to the minutes, Mr. Barry Lobell made
a motion to approve the minutes. Motion was seconded by Mr. Daniel
Suckley. Motion passed unanimously.
The following loan was presented for review:
Aida R. Yzaquirre, 1450 Ormond
The case presented by Mr. Hector Vallejo was a Demolition and
Replacement Loan for Ms. Yzaguirre. Ms. Yzaguirre will be receiving a 3%
Loan in the amount of $35,000 and a Deferred Forgivable Loan of $8,220.
Total monthly payment (principal, interest and insurance) will be $269.11 .
The Corporation will be in a first lien position.
Appraised value after rehabilitation is $56,063. Recommend approval based
on first lien position, clear title, credit and original mortgage being paid off.
Motion was made by Mr. David Cantu to approve the loan as presented,
motion was seconded by Mr. Ben Grande. Motion passed unanimously.
Mr. Vallejo advised the Committee regarding procedures for foreclosures.
SCANNED
4 4.,
With no further business, a motion was made by Mr. David Cantu and
seconded by Mr. Barry Lobell to adjourn. Motion passed.