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HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 03/15/1995 MINUTES LA ,.J , CORPUS CHRISTI COMMUNITY IMPROVEMENT CORPORATION .' r LOAN REVIEW COMMITTEE MARCH 15, 1995 10 12 NOON STAFF PRESENT MEMBFRS ABSFNT Hector G. Vallejo, Program Manager Alynda Asher Fred Pena, Rehab Supervisor Karen Boehk Delia Garcia, Loan Processor Supervisor Ruben Fuentes Josie Estrada, Rehab Secretary Rose Royce Huegele Leroy San Miguel MEMBERS PRFSFNT Diana Bazan Ernest Carter Louis Garza Robert E. Jones Ben Grande Alice Vaughn In the absence of the Chairperson, Rose Royce Huegele, Vice-Chairperson Louis Garza called the meeting to order.at 12:15 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 February 15, 1995. There were no changes or corrections to the Minutes of February 15, 1995. A motion for approval of the Minutes was made by Mr. Carter and seconded by Ms. Bazan. Motion passed unanimously. The following loan requests were presented: A demolition/replacement loan request was made for Felipe S. and Margarita S. Garcia, 1512 - 14th St., in the amount of S31,700 at three percent (3%) interest. Loan includes a Relocation Grant of $2,000. Total monthly payment will be $217.81. The Corporation will be in a first lien position. After a brief discussion, Mr. Grande made a motion to approve the loan as presented by staff. Motion was seconded by Mr. Carter. Motion passed unanimously. SCANNED y Mr. Vallejo presented the next demolition/replacement loan request for Nathaniel Johnson of 4542 Jose St., in the amount of $11,950 at zero (0%) interest. This loan includes a Minimum Deferred Loan of $15,000, an Emergency Repair Grant of $4,000 and a Relocation Grant of $2,000. The total monthly payment will be $100.83. The Corporation will be in a first lien position. Mr. Vallejo explained that Mr. Johnson requested that the terms of the loan be extended from 20 years to 25 years. Mr. Jones made a motion to approve the loan with the extended term being 25 years. Ms. Vaughn seconded the motion and motion passed unanimously. The next loan request presented was that of Malaquis Reyes, 926 Dolores, in the amount of $16,900 at zero (0%) percent interest. The loan request includes a Minimum Deferred Loan in the amount of $15,000, an Emergency Repair Grant $4,000, and a Relocation Grant $2,000. Total monthly payment will be $112.33. The Corporation will be a first lien position. Mr. Jones inquired whether Committee could extend the terms to be 30 years. Mr. Vallejo stated that Committee could do so. After a brief discussion, Mr. Carter made a motion to approve the loan with the terms extended to 30 years. The motion was seconded by Mr. Grande and passed unanimously. A demolition/replacement request was made for Maria R. Rodriguez, 5604 Hall, in the amount of $11,750 at zero (0%) interest. A Minimum Deferred Loan in the amount of $15,000, an Emergency Repair Grant of $4,000 and a Relocation Grant of $2,000 are included in the loan request. The total monthly payment will be $94.16. The Corporation will be in a first lien position. Mr. Vallejo explained that Ms. Rodriguez requested that the terms be extended from 20 to 25 years. After reviewing the case, Ms. Dalia Garcia noted there was an error and Ms. Rodriguez qualified for a 25 year loan. Therefore, the extension was not necessary. Mr. Carter made a motion to approve the loan for 25 years, with no need for an extension. Ms. Bazan seconded the motion. Motion passed unanimously. A demolition/replacement loan request was made for Jose G. and Teresa Trevino, 806 Eleanor, in the amount of $19,000 at zero (0%) percent interest and includes a Minimum Deferred Loan of $15,000, Emergency Repair Grant of $4,000, Relocation Grant of $2,000. Homeowner will have to provide a Home Owner's Share of $3,207. Total monthly payment will be $118.33. The Corporation will be in first lien position. ly r1' Mr. Vallejo presented the next demolition/replacement loan request for Nathaniel Johnson of 4542 Jose St., in the amount of $11,950 at zero (0%) interest. This loan includes a Minimum Deferred Loan of $15,000, an Emergency Repair Grant of $4,000 and a Relocation Grant of $2,000. The total monthly payment will be $100.83. The Corporation will be in a first lien position. Mr. Vallejo explained that Mr. Johnson requested that the terms of the loan be extended from 20 years to 25 years. Mr. Jones made a motion to approve the loan with the extended term being 25 years. Ms. Vaughn seconded the motion and motion passed unanimously. The next loan request presented was that of Malaquis Reyes, 926 Dolores, in the amount of 516,900 at zero (0%) percent interest. The loan request includes a Minimum Deferred Loan in the amount of $15,000, an Emergency Repair Grant $4,000, and a Relocation Grant $2,000. Total monthly payment will be $112.33. The Corporation will be a first lien position. Mr. Jones inquired whether Committee could extend the terms to be 30 years. Mr. Vallejo stated that Committee could do so. After a brief discussion, Mr. Carter made a motion to approve the loan with the terms extended to 30 years. The motion was seconded by Mr. Grande and passed unanimously. A demolition/replacement request was made for Maria R. Rodriguez, 5604 Hall, in the amount of $11,750 at zero (0%) interest. A Minimum Deferred Loan in the amount of $15,000, an Emergency Repair Grant of $4,000 and a Relocation Grant of $2,000 are included in the loan request. The total monthly payment will be $94.16. The Corporation will be in a first lien position. Mr. Vallejo explained that Ms. Rodriguez requested that the terms be extended from 20 to 25 years. After reviewing the case, Ms. Delia Garcia noted there was an error and Ms. Rodriguez qualified for a 25 year loan. Therefore, the extension was not necessary. Mr. Carter made a motion to approve the loan for 25 years, with no need for an extension. Ms. Bazan seconded the motion. Motion passed unanimously. A demolition/replacement loan request was made for Jose G. and Teresa Trevino, 806 Eleanor, in the amount of $19,000 at zero (0%) percent interest and includes a Minimum Deferred Loan of $15,000, Emergency Repair Grant of $4,000, Relocation Grant of $2,000. Homeowner will have to provide a Home Owner's Share of $3,207. Total monthly payment will be $118.33. The Corporation will be in first lien position.