HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 04/19/2006 V
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CORPUS CHRISTI COMMUNITY IMPROVEMENT CORPORA/AN
LOAN REVIEW COMMITTEE
WEDNESDAY, April 19, 2006
12 NOON
STAFF PRESENT MEMBERS ABSENT
Hector G. Vallejo, NSD Program Manager Sylvia Ford
Delia Garcia, NSD Housing Administration Supervisor Tiffany Hull
Yvonne Haag, NSD Director
MEMBERS PRESENT
Alice Vaughn
Alynda Asher
Ben Grande
Raul Torres
David Cantu
Jesus Leija
Judy Telge
Barry Lobel!
Chairperson, Alice Vaughn called the meeting to order in the 1'' Floor, Staff
Conference Room, 1201 Leopard St., City Hall, roll call was taken with eight members
present. Two members absent.
First order of business was to approve the minutes of the March 15, 2006 meeting. With
no corrections made to the minutes, Mr. Cantu made a motion to approve the minutes.
Motion was seconded by Mr. Grande. Motion passed unanimously.
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The following loans were presented for review:
Gutierrez, Juana —401 Breckenridge :
A loan application a Demolition and Replacement for Juana Gutierrez aka Juana Sanchez
was presented by Mr. Vallejo. Ms. Gutierrez will be having a two bedroom, 1 bath, 840 sq
ft house constructed. She will be receiving a 0% Loan for $17,000, Minimum Deferred
Loan for$18,000 and a Deferred Forgivable Loan for$17,600. The Corporation will be in
the first lien position. Ms. Gutierrez has a monthly net income at $409. Mr. Vallejo
informed the Committee that he had concerns of Ms. Gutierrez's credit. Credit score being
at 543, he rated credit as poor. The title appears in her name. Ms. Gutierrez's monthly
payment to income ratio is okay; however, her monthly total debt payment to income ratio
is at 42% instead at 40%. Total appraised value after rehabilitation is $59,100.
Recommend approval based on the Corporation being in a first lien position; income ratios
at 30% and 42% okay; and with zero liabilities.
A motion was made by Mr. Cantu to approve the loan, motion seconded by Mr. Torres.
Motion passed unanimously.
Other Business:
Mr.Vallejo informed those members that their terms will expire on May 7, 2006 and asked
individually if they were interested in being re-appointed. The eligible members are Mr.
Grande (At-Large), Ms. Asher (Real Estate), Mr. Leija (Architect), Ms. Vaughn (Real
Estate); all agreed for re-appointment. Mr. Vallejo notified the Committee that Ms.
Caroline Stahl submitted in writing that she is withdrawing from the Committee. Ms. Stahl
was one of the members up for reappointment; however, due to her resignation her
position is currently vacant (Realtor) and will be filled after reviewing eligible candidates.
Having no further business, motion to adjourn meeting was made by Mr. Cantu and
seconded by Mr. Leija. Motion passed unanimously and the meeting was adjourned.