HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 09/22/1993 r AO-it 2
MINUTES
CORPUS CHRISTI COMMUNITY IMPROVEMENT CORPORATION
LOAN REVIEW COMMITTEE
SEPTEMBER 22. 1993
12 NOON
STAFF PRESENT MEMBERS ABSENT
Hector G. Vallejo, Program Manager Rose Royce Huegele
Fred Pena, Rehabilitation Supervisor Louis Garza
Sandee Galvan, Senior Secretary II Burford Dobbins
Leroy San Miguel
MEMBERS PRESENT
Ernest Carter
Forrest Smith
Alice Vaughn
Ruben Fuentes
Diana Bazan
Alynda Asher
Paul Shamoun
Vice Chairman Forrest Smith called the meeting to order in the Building Inspections'
Conference Room on the 2nd Floor of City Hall.
The first order of business was to approve the minutes of the August 25, 1993
meeting. Mr. Carter moved to approve the minutes, seconded by Mr. Shamoun,
motion passed unanimously.
The following loan requests were presented:
A demolition and replacement loan request for Rodolfo and Frances R. Galvan, 425
Robert in the amount of $9,3500.00 at zero percent interest amortized over a 15-year
period.The loan includes a $2,100.00 relocation grant; a $4,000.00 emergency grant
and a 315,000.00 minimum deferred loan. Total monthly payment of principal,taxes
and interest will be $98.95. The Corporation will be in a first lien position.
Mr. Smith commented that on page 3 of the loan application item J-1 should note
that Mr. Galvan's income includes VA and Teacher's retirement benefits instead of the
wording also receives. This information will be noted on future items.
Mr. Carter moved to approve the loan, seconded by Mr. Shamoun. Motion passed
unanimously.
A demolition and replacement loan request for Becky Landa, 3469 Southland in the
amount of $34,000.00 at three percent (3%) interest amortized over a 20-year
period. The loan includes a $1,400.00 relocation grant and an owner's share of
$200.00. Total monthly payment of principal, taxes and interest will be 5290.73.
The Corporation will be in a first lien position.
SCANNED
Minutes of the Loan RSw Committee S
March 3, 1993
Page 2
Mr. Smith expressed concern regarding the applicant's substantial amount of income,
the way the applicant has handled it and her credit history. Mr. Vallejo explained how
the applicant's income was divided in comparison to her total liabilities versus her
income spread. Ms. Bazan inquired if the mortgage would be paid off if the loan was
approved. Mr. Vallejo replied yes, the mortgage would be paid and the applicant
would be in a better position to meet her other financial responsibilities.
Mr. Carter moved to approve the loan, seconded by Ms. Bazan. Motion passed
unanimously.
A self-help rehabilitation loan request for Juan and Santa Medrano, 914 10th Street,
in the amount of $24,000.00 at three (3%) percent interest amortized over a 20-year
period. The loan includes a $4,000.00 emergency grant. Total monthly payment of
principal, taxes and interest is $206.09. The Corporation will be in a first lien
position.
Mr. Shamoun expressed concern regarding the applicant's credit history and the
attached letter explaining the delinquencies.
Ms. Bazan moved to approve the loan, seconded by Mr. Fuentes, opposed by Mr.
Shamoun. Motion passed.
A rehabilitation minimum deferred loan request for Juanita P. Mondragon, 1210 S.
19th Street in the amount of 812,800.00 at zero (0%) percent interest amortized over
1,280 months. The monthly payment of principal only is 857.00. The Corporation
will be in a first lien position.
Mr. Shamoun moved to approve the loan, seconded by Mr. Carter. Motion passed
unanimously.
There being no further business, the meeting was adjourned at 12:40 p.m.
4110AGENDA
CORPUS CHRISTI COMMUNITY IMPROVEMENT CORPORATION
1201 LEOPARD, 2ND FLOOR
BUILDING INSPECTIONS CONFERENCE ROOM
WEDNESDAY, OCTOBER 20, 1993
DURING THE REGULAR MEETING OF THE LOAN REVIEW COMMITTEE BEGINNING
AT NOON
I. Call meeting to order.
II. Approve minutes of the September 22, 1993 meeting.
III. Sinate Family Residential Loan Reauests:
1. Chapa, Ninfa 2846 Prescott
2. Martinez, Paula 1825 Bernandino
3. Morales, Mateo 5230 Williams
4. Rodriguez, Tomas 238 Tarlton
5. Vela, Edilberto 3605 Curtiss
IV. Adjourn.
V rli
CITY OF CORPUS CHRISTI
DEPARTMENT OF COMMUNITY DEVELOPMENT
TO: Loan Review Committee Members
FROM: Hector G. Vallejo, Program Manager
DATE: October 15, 1993
SUBJECT: Corpus Christi Community Improvement Corporation ICCCICI
Enclosed are applications, for assistance under the City's Single Family Rehabilitation
Program, which will be reviewed during our meeting on Wednesday, October 20,
1993. The meeting will be held in the Building Inspections' Conference room located
on the 2nd Floor of City Hall, 1201 Leopard, beginning at Noon.
We look forward to your attendance at this meeting. If you have any questions
concerning the enclosed material, please feel free to call me at 880-3018.
. I. _ 4 . . ,
erector G. Vallejo
O _ Program Manager