HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 10/03/2007 V Q ` ,4667087
077
/oma
DEC ad z;
N P1eP �.
Oti
MINUTES
CORPUS CHRISTI COMMUNITY IMPROVEMENT CORPORATION
LOAN REVIEW COMMITTEE
WEDNESDAY, October 3, 2007
12 NOON
EMERGENCY MEETING
STAFF PRESENT MEMBERS ABSENT
Hector G. Vallejo, Program Manager Ben Grande
Dalia Garcia, NSD Housing Administration Supervisor Alynda Asher
Yvonne M. Haag, NSD Director David Cantu
Tiffany Hull
Raul Torres
Judy Telge
MEMBERS PRESENT
Alice Vaughn
Barry Lobell
Char Atnip
Sylvia Ford
Jesus Leija
Chairperson, Alice Vaughn called the meeting to order in the 1st Floor, Staff
Conference Room, 1201 Leopard St., City Hall; roll call was taken with five
members present. Six members were absent.
Ms. Vaughn called the first order of business being the Rental Rehabilitation Loan
request.
SCANNED
41110•
111110
TX LULAC West Park Housing L.P.
Mr. Vallejo informed the Committee the meeting was called to review the TX LULAC
West Park Housing L.P. loan application they were working under a deadline for the
tax credits. Mr. Vallejo informed the Committee that Mr. David Marquez with
Affordable Housing Consultants was present and wished to address the Committee.
Mr. Marquez presented an overview of the project reminding the Committee that
their request for the loan was basically to gather points for their tax credit application
being submitted to the State. He answered questions from the Committee. Mr.
Marquez stated that the Corporation would be paid back their funds in around 18 to
24 months. Mr. Marquez continued and stated that regarding the City's lien position
that the City, will collectively be in a second lien position. He went on to answer
other questions from the Committee regarding the Section 8 Program and that for
this project the assistance is project based meaning if the renter moves out the
assistance stays with the project. With no further questions for Mr. Marquez the
Committee excused him from the meeting.
After a brief discussion Mr. Lobell made a motion to approve the loan and seconded
by Ms. Atnip. Motion passed unanimously.
Having no further business, Mr. Lobell a made motion to adjourn and seconded by
Ms. Ford.