HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 11/02/1994 -
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CORPUS CHRISTI COMMUNITY IMPROVEMENT CORPORAT QNX/PAL". ,\
LOAN REVIEW COMMITTEE 01:" y j l 9q4 -71
NOVEMBER 2, 1994
12 NOON c,
STAFF PRFSFNT MFMRFRS ABSENT
Hector G. Vallejo, Program Manager Ruben Fuentes
Fred Pena, Rehab Supervisor
Delia Garcia, Loan Processor Supervisor
Josie Estrada, Rehab Secretary
MFMRFRS PRFSFNT
Alynda Asher
Diana Bazan
Karen Boehk
Ernest Carter
Louis Garza
Ben Grande
Rose Royce Huegele
Robert E. Jones
Leroy San Miguel
Alice Vaughn
Chairperson Rose Royce Huegele called the meeting to order a: 12:00 p.m. in the
Human Resources Conference room on the 2nd Floor at City Hall.
The first order of business was to approve the minutes of October 5, 1994 and
October 12, 1994. There were no changes or corrections to the Minutes. Motion for
approval of the October 5, 1994 and October 12, 1994 Minutes was made by Mr.
Carter and seconded by Mr. Garza. Motion passed unanimously.
The following loan requests were as presented:
Mr. Vallejo present the first case, a rehabilitation loan request for Delpha I. Benavides,
1717 Lesle Lane, in the amount of $26,200.00, at three (3%) percent interest. Total
monthly payment of principal, interest, taxes and insurance will be $321 .30. Mr.
Vallejo explained that refinancing will place the Corporation in a first lien position.
After a brief discussion, Mr. Garza moved to approve the loan. Mr. Carter seconded
the motion and motion passed unanimously.
SCANNED INED
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A demolition and replacement loan request for Mary E. Crawford, 6513 Brimingham,
was presented next. The loan is in the amount of $11,800.00 at zero (0%) and
includes a $15,000.00 Minimum Deferred loan; a $4,000.00 Emergency Grant; and
a $2,000.00 Relocation Grant. The total monthly payment of principal, taxes and
insurance will be $90.33. The Corporation will be in a first lien position.
A motion to approve the loan was made by Mr. Garza and seconded by Ms. Bazan.
Motion reflected a request by Mr. Garza to amortize the loan for 30 years instead of
25 years in order to lower the payment. Motioned passed unanimously.
A demolition and replacement loan request was made for Canuto M. and Rose C.
Llanes, 1626 Amber, in the amount of $12,800.00 at zero (0%) percent interest.
The loan request includes a Minimum Deferred Loan in the amount of *15,000.00;
an Emergency Grant in the amount of $4,000.00 and a Relocation Grant in the
amount of $2,000.00. Total monthly payment of principal, taxes, and insurance will
be $94.68. The Corporation will be in a first lien position.
Mr. Garza made a motion to approve the loan. Ms. Asher seconded the motion and
motion passed unanimously.
The final case presented by Mr. Vallejo was a demolition and replacement loan
request for Anita Salinas, 1035 Bluntzer, in the amount of $16,000.00 at zero (0%)
percent interest. The loan includes a *15,000.00 Minimum Deferred Loan. The total
monthly payment of principal, taxes and insurance will be $109.33. The Corporation
will be in first lien position.
Mr. Garza made a motion to approve the loan amortized over a 30-year period instead
of 25-year period which would lower the payment. Mr. Carter seconded the motion.
Motion passed unanimously.
In response to Ms. Huegele's suggestion to report delinquent accounts to the Credit
Bureau, Mr. Vallejo informed the Committee that staff will be reporting the delinquent
accounts to the Credit Bureau.
Having no further business, Ms. Huegele adjourned the meeting.
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