HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 02/15/1994 yrir 41110 11110
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CORPUS CHRISTI COMMUNITY IMPROVEMENT CORPORA ON � Nom\\
LOAN REVIEW COMMITTEE ,° #49 I9s5 N1
FEBRUARY 15, 1994 City t.EI VR n s
12 NOON Voce S 4,
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STAFFPRESENT MEMBERS ABSENOS6l fr
Hector G. Vallejo, Program Manager Karen Boehk
Fred Pena, Rehab Supervisor Robert E. Jones
Dalia Garcia, Loan Processor Supervisor Leroy San Miguel
Josie Estrada, Rehab Secretary
MEMBERS PRESENT
Alynda Asher
Diana Bazan
Ernest Carter
Ruben Fuentes
Louis Garza
Ben Grande
Rose Royce Huegele
Alice Vaughn
Chairperson Rose Royce Huegele called the meeting to order at 12:00 p.m. in the
Community Development Conference Room on the 2nd Floor of City Hall.
The first order of business was to approve the minutes of December 7, 1994. There
were no changes or corrections to the Minutes of December 7, 1994. A motion for
approval of the Minutes was made by Mr. Garza and seconded by Mr. Carter. Motion
passed unanimously.
The following loan request were presented:
A rehabilitation loan request was made for Mr. Alvie Beene, 230 W. Vanderbilt, in the
amount of $650.00 at zero percent (0%) interest. Loan includes a Minimum Deferred
Loan of $15,000.00 and an Emergency Repair Grant for $4,000.00. Total monthly
payment will be 845.83. The Corporation will be in a first lien position.
Mr. Garza suggested that Mr. Beene be given the oportunity to reconsider upgrading
the existing wall heater to a central heating system, since it was a better method of
heating. Mr. Vallejo explained that staff had discussed this situation with Mr. Beene,
and Mr. Beene declined due to the additional expense incurred. Mr. Vallejo
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suggested staff would discuss the Committee's concern with Mr. Beene. Mr. Vallejo
explained if Mr. Beene decides to install the central heating system, and the amount
exceeds 5%, the loan would be brought back before Loan Committee for approval of
the loan increase amount.
Mr. Garza further suggested that if cost factor is Mr. Beene's concern, the loan term
may be extended in order to keep the payment amount the same.
Mr. Garza then moved to approve the loan, provided staff presents the above options
to Mr. Beene. Motion was seconded by Ms. Vaughn and motion passed unanimously.
Having no further business, Ms. Huegele adjourned the meeting.
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