Loading...
HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 04/10/1992 MINUTES OF LOAN REVIEW COMMITTEE APRIL 10, 1992 12 NOON STAFF PRESENT MEMBERS ABSENT Hector G. Vallejo, Program Manager Ernest Carter Juan F. Hernandez, Rehab Supervisor Melody Cooper L. David Ramos, Administrative Assistant I Louis Garza Lana Taylor, Senior Secretary II Rose Huegele Armando Reyna MEMBERS PRESENT Servando Caballero Javier Leal Sylvia Perez Leroy San Miguel Paul Shamoun Forrest Smith Chairman Servando Caballero called the meeting to order in the Building Inspections Conference Room. The first order of business was to approve the minutes of the February 26, 1992 meeting. Mr. Smith made a motion to approve the minutes as presented, seconded by Mr. San Miguel. Motion passed. Next item of business was the Rental Rehabilitation loan for Mr. Robert Perkins on a rental property located at 1021 Behman. Mr. Vallejo stated that the loan request was in the amount of $14,033.00 and that Mr. Perkins would be providing a match of $14,033.00 to make up the required total of $28,066.00. Mrs. Perez asked if Mr. Perkins had received all of his money. Mr. Vallejo stated that Mr. Perkins had received about 65%. Mrs. Perez wanted to know how Mr. Perkins knew he would need more money to finish the project. Mr. Vallejo explained that HCD had a cost on each line item and the items in the loan increase were not part of the original bid. Since fence specifications were not in the bid, Mrs. Perez questioned the necessity of the fence. Mr. Vallejo explained that a chain link fence would be erected around the project for protection, and wooden fences would be built between each section to deter vandalism to air conditioning units and electrical service boxes. Mrs. Perez wanted to know the total bid on the fence. It was determined that 420 linear feet of cedar fencing, with 7-foot posts and gates, would cost $5,087.00, and 680 linear feet of chain link fencing would cost $4,500.00. SCANNED • Minutes of Loan Review Committee April 10, 1992 Page 2 Mr. Caballero asked for an itemized list of how the $14,000.00 was going to be distributed. Mr. Smith asked if Mr. Perkins had taken into account the increase of materials in the last few months. Mr. Vallejo stated that the loan increase was for new plenums on the air conditioning, water heaters, fill-in and grading that needed to be done in low areas to prevent flooding of the project. Discussion continued on cost breakdown for the $14,000. Mr. Vallejo explained about unforeseen circumstances and protection of the City's investment. Mr. Caballero made a motion to approve the loan as presented, seconded by Mr. Leal, with 1 no vote and 1 abstention. Motion passed. Next item of business were cases brought back for loan increases and grant approvals due to contract cancellations on each case. All cases, with the exception of Gladys Martin, are demolition replacements. These cases were brought back to the Committee because another contractor is now involved and there is a difference in —new_t. ..tion costs. A grant was used to offset additional costs on each loan request, with the exception of Felix Liendo. He did not qualify, because the rules state that you have to be elderly with a zero percent loan in order to qualify for a grant. A demolition and replacement loan request for Clementine L. Basaldu, 4038 Zaragosa, in the amount of $28,900.00 at zero percent over a fifteen-year period. The loan request includes a grant in the amount of $3,300.00, a $1,400.00 relocation grant, and includes $15,000.00 minimum deferred. Total payment of principal, taxes and insurance is $97.11. The Corporation will be in a first lien position. A demolition and replacement loan request for Antonio C. and Maria C. Garcia, 2637 Guadalupe in the amount of $24,912.00 at zero percent over a ten-year period. The loan request includes a grant in the amount of $3,300.00, and includes $15,000.00 minimum deferred. Total payment of principal, taxes and insurance is $97.41. The Corporation will be in a first lien position. A demolition and replacement loan request for Juan A. Guerrero, 2743 Lamar, in the amount of $27,415.00 at zero percent over a fifteen-year period. The loan request includes a grant in the amount of $3,300.00, a $1,400.00 relocation grant, and includes $15,000.00 minimum deferred. Total payment of principal, taxes and insurance is $91 .06. The Corporation will be in a first lien position. A demolition and replacement loan request for Rene Hernandez, Sr., 2726 Greenwood, in the amount of $24,900.00 at zero percent over a ten-year period. The loan request includes a grant in the amount of $3,300.00, a $1,400.00 relocation Minutes of Loan Review Committee April 10, 1992 Page 3 grant, and includes $15,000.00 minimum deferred. Total payment of principal, taxes and insurance is $90.33. The Corporation will be in a first lien position. A demolition and replacement loan request for Felix V. and Guadalupe A. Liendo, 349 Pueblo, in the amount of $24,250.00 at 3 percent over a twenty-year period. The total payment of principal, taxes and insurance is $194.49. The Corporation will be in a first lien position. A demolition and replacement loan request for Consuelo P. Pena, 3646 Curtiss, in the amount of $26,812.00 at zero percent over a fifteen-year period. The loan request includes a grant in the amount of $3,300.00, a $1,400.00 relocation grant, and includes $15,000.00 minimum deferred. Total payment of principal, taxes and insurance is $83.72. Mr. Smith made a motion to vote on the above six cases as a unit, and vote on Gladys Martin, 10109 Kingsbury, separately, seconded by Mr. San Miguel. Motion passed. The motion approved Clementina Basaldu, 4038 Zaragosa; Antonio C. and Maria C. Garcia, 2637 Guadalupe; Juan A. Guerrero, 2743 Lamar; Rene Hernandez, Sr., 2726 Greenwood; Felix V. and Guadalupe A. Liendo, 349 Pueblo; and Consuelo P. Pena, 3646 Curtiss. A demolition and replacement loan request for Gladys Martin, 10109 Kingsbury, in the amount of $24,962.00 at zero percent over a ten-year period. The loan request includes a grant in the amount of $3,300.00, a $1,000.00 paint grant, and includes $15,000.00 minimum deferred. Total payment of principal, taxes and insurance is $101.50. Mr. Leal made a motion to accept staff's proposal and the increase due to the contractor exercising his options on Gladys Martin, 10109 Kingsbury, seconded by Mr. San Miguel. Motion passed. Mr. Smith moved that the Committee approve the Gladys Martin request and asked staff to negotiate for her a period of time for payment that would allow her payments to be as close as possible to what they were previously, seconded by Mr. Leal. Motion carried. Next item of business was the Single Family Rehabilitation Loan Program. The following Single Family loan requests were made: Minutes of Loan Review Committee April 10, 1992 Page 4 A rehabilitation loan request for Carmen I. Adams, 1810 Glenfield, in the amount of $22,560.00 at 3 percent amortized over a twenty-year period. Total payment of principal, taxes and insurance is $125.34. The Corporation will be in a second lien position. Mr. Smith made a motion to approve the loan request as presented for Carmen I. Adams, seconded by Mrs. Perez. Mr. San Miguel was concerned that funds being appropriated are for life to make sure Ms. Adams would not be put in a financial bind. Motion passed with one opposed. A demolition replacement loan request for Josefina Carranza, 2529 Guadalupe, in the amount of $29,900.00 at zero percent amortized over a twenty-five-year period. The loan request includes a $3,300.00 grant, a $1,400.00 relocation grant, and includes $15,000.00 minimum deferred. Total payment of principal, taxes and insurance is $96.00. The Corporation will be in a first lien position. Mr. Leal made a motion to approve the loan request for Josefina Carranza, seconded by Mr. Shamoun. Motion passed unanimously. A demolition replacement loan request for George, Jr. and Josefa C. Fuentes, 2730 Sabinas, in the amount of $32,289.00 at zero percent amortized over a twenty-five year period. The loan request includes a $3,300.00 grant, a $2,000.00 relocation grant, and includes 515,000.00 minimum deferred. Total payment of principal,taxes and insurance is $108.33. The Corporation will be in a first lien position. Mr. San Miguel made a motion to approve the loan request for George Jr. and Josefa C. Fuentes, seconded by Mr. Shamoun. Motion passed. Mr. San Miguel suggested that staff limit the number of cases presented to the Committee to six or eight per meeting because 22 cases were too many to expect the Committee to review. A discussion was held regarding setting a limit on the amount of loan requests handled by the Committee at each meeting. Mr. Caballero stated that, when a meeting date has been scheduled, it should be adhered to because it is too confusing to constantly be moving dates and times. Mr. Vallejo reminded the Committee that they were working against bid dates and needed to deal with the loans promptly. The next meeting was scheduled for Tuesday, April 14, 1992 at noon. At that time, the final portion of the April 10, 1992 agenda would be reviewed. Minutes of Loan Review Committee April 10, 1992 Page 5 There being no further business, the meeting adjourned. MINTSAPR.92