HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 12/22/1993 lir
MINUTES
CORPUS CHRISTI COMMUNITY IMPROVEMENT CORPORATION
LOAN REVIEW COMMITTEE
DECEMBER 22, 1993
12 NOON
STAFF PRESENT MEMBERS ABSENT
Hector G. Vallejo, Program Manager Alynda Asher
Fred Pena, Rehabilitation Supervisor Burford Dobbins
Dalia Garcia, Loan Processor Supervisor Rose Royce Huegele
MEMBERS PRESENT
Diana Bazan
Ernest Carter
Ruben Fuentes
Louis Garza
Leroy San Miguel
Paul Shamoun
Forrest Smith
Alice Vaughn
Chairperson Forrest Smith called the meeting to order at 12:05 p.m. in the Building
Inspection Conference Room on the 2nd Floor of City Hall. There being no changes
to the November 24, 1993 minutes, Mr. Garza moved to approve the minutes, Ms.
Vaughn seconded, motion passes unanimously.
The following loan requests were presented:
A demolition replacement loan request for Robert Benavides, 2028 Marguerite, in the
amount of $17,650 at zero (0%) percent interest amortized over a 25-year period.The
loan includes a $15,000 minimum deferred; $1,600 relocation grant; a 54,000.00
emergency grant. Total monthly payment of principal, taxes and interest will be
$114.83. The Corporation will be in a first lien position.
A discussion was made on accessibility of the bathroom for the owner. Owner is
handicapped.
Mr. Garza moved to approve the loan as presented, seconded by Ms. Bazan, motion
passed unanimously.
A rehabilitation loan request for Maria Chavez, 226 Cortez, in the amount of
$32,300.00 at zero (0%) percent interest amortized over a 25-year period. Total
monthly payment of principal, taxes and interest is $194.66. The Corporation will be
in a first lien position.
SCANNED
Minutes of the Loan ReWw Committee S December 22, 1993
Page 2
Mr. Fuentes moved the loan be approved as submitted, seconded by Mr. San Miguel,
passed unanimously.
A rehabilitation loan request for Frank Gutierrez, Jr. 1021 Stirman, in the amount of
$25,000.00 at three (3%) percent interest amortized over a 20-year period. The
monthly payment of principal, taxes and interest is $178.65. The Corporation will be
in a second lien position.
Mr. Vallejo explained the Committee in the last meeting tabled this case and requested
staff to discuss with Mr. Gutierrez demolishing the house. Mr. Vallejo informed the
Committee staff had discussed the issue with Mr. Gutierrez and he decided on rehab.
Mrs. Bazan moved to approve the loan request, seconded by Mrs. Vaughn. Motion
passed unanimously.
A rehabilitation loan request for Mateo &Isabel Morales, 5230 William, in the amount
of $34,000.00 at zero percent (0%) interest amortized over a 25-year period. The
monthly payment of principal, taxes and interest is $193.33. The Corporation will be
in a first lien position.
Mr. Vallejo informed the Committee this application was tabled two months ago
because Committee wanted reverification on the income of Mr. Morales. Mr. Vallejo
briefed the Committee on Mr. Morales' income status.
Mr. Garza moved to approve the loan request, seconded by Mr. Forrest. Motion
passed unanimously.
A demolition and replacement loan request for Townsel Myers, 2821 Lawton, in the
amount of 511,700.00 at zero (0%) percent interest amortized over a 25-year period.
The loan includes a 515,000 minimum deferred; a $4000.00 emergency grant. The
monthly payment of principal, taxes, and interest is $94.00. The Corporation will be
in a first lien position.
Mr. Carter asked what Mr. Myers disability was. Mr. Vallejo explained Mr. Myers has
mental stress, but his doctor states in a letter to us that Mr. Myers is competent to
conduct business.
Mr. Garza moved to approve the loan, seconded by Mr. Carter. Motion passed
unanimously.
A demolition and replacement loan request for Dora Pena, 4514 Greengrove, in the
amount of $9,000.00 at zero (0%) percent interest amortized over a 25-year period.
The loan includes $15,000.00 minimum deferred, a $4,000.00 emergency grant. The
monthly payment of principal, taxes, and interest in $143.00. The Corporation will
be in a first lien position.
Minutes of the Loan Rew Committee w December 22, 1993
Page 3
Mr. Garza moved to approve the loan with extension, seconded by Ms. Bazan. Motion
passed unanimously.
A demolition and replacement loan request for Abel &Aurora Trevino, 550 Pueblo, in
the amount of $27,700.00 at three (3%) percent interest amortized over a 20-year
period. The loan includes a $1,400.00 relocation grant. The monthly payment of
principal, taxes, and interest in $198.62. The Corporation will be in a first lien
position.
Mr. Garza moved to approve the loan, seconded by Ms. Vaughn. Motion passed
unanimously.
A demolition and rehabilitation loan request for Cora Lee Turner, 1710 Lexington, in
the amount of $12,650.00 at zero (0%) percent interest amortized over a 25-year
period. The loan includes $15,000.00 minimum deferred. The monthly payment of
principal, taxes and interest is $94.17. The Corporation will be in a first lien position.
Mr. Garza moved to approve the loan, seconded by Mr. Carter. Motion passed.
Committee questioned Ms. Turner's not selecting the low bid contractor. Mr. Vallejo
said Ms. Turner checked out the Contractor's references and the contractor probably
received a poor reference. Therefore she went with another bid.
A rehabilitation loan request for Billie Wilkerson, 910 Susan, in the amount of
$18,950.00 at three (3%) percent interest amortized over a 20-year period. The
monthly payment of principal, taxes and interest is $105.10. The Corporation will be
in a second lien position.
Mr. Garza asked if the first and second lien could be combined to lower the payments.
Ms. Garcia replied that Ms. Turner still owes $15,000 on the first mortgage, and that
combining the liens would exceed the loan limits of $30,000.
Mr. Garza moved to approve the loan, seconded by Mr. Carter.
At last meeting Committee requested a breakdown of the data which would show
trends. A table was passed out which showed a comparison by the month as far as
delinquencies. Last month Committee wanted to know what the trend was showing
on the loans. This report reflects the amount of accounts that are delinquent and at
what time of the year. Mr. Garza stated that a complete analysis should not have to
be made monthly and the Committee needed to be careful and not tie up staff with
providing report after report. Mr. Vallejo suggested that at the next meeting he will
pass out this same chart for the members who were not present, and the Committee
can decide which report it prefers.
There being no further business, the meeting was adjourned.
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