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HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 04/12/1995 1110 g ,21 • MINUTES CORPUS CHRISTI COMMUNITY IMPROVEMENT CORPORATION LOAN REVIEW COMMITTEE APRIL 12, 1995 12 NOON ,STAFF PRESENT MEMBERS ABSFNT Hector G. Vallejo, Program Manager Diana Bazan Fred Pena, Rehab Supervisor Karen Boehk Delia Garcia, Loan Processor Supervisor Ben Grande Josie Estrada, Rehab Secretary MEMBFRS PRE$FNT Alynda Asher Ernest Carter Ruben Fuentes Louis Garza Rose Royce Huegele Robert E. Jones Leroy San Miguel 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 March 15, 1995. There were no changes or corrections to the Minutes of March 15, 1995. A motion for approval of the Minutes was made by Mr. Garza and seconded by Mr. Carter. Motion passed unanimously. The following loan requests were presented: A rehabilitation loan request was made for Yvonne E. Garcia, 1714 Whittier, in the amount of $25,000 at three percent (3% ) interest. Homeowner must provide S500.00. Total monthly payment will be $233.65. The Corporation will be in a first Hen position. After a brief discussion, Mr. Garza made a motion to approve the loan . Motion was seconded by Mr. Fuentes. Motion passed unanimously. SCANNED 1/410 S The next request presented was a rehabilitation loan request for Enriquetta Morales, 230 Norton, in the amount of $4,750 at zero (0%) percent interest. Loan request includes a Minimum Deferred Loan in the amount of $15,000 and an Emergency Repair Grant in the amount of $4,000. Total monthly payment is $99.58. The Corporation will be in a second lien position. After discussing different options, Mr. Garza made a motion to approve the loan giving Mrs. Morales the option to refinance and to extend the terms from 10 years to 15 years in order to lower the payments. Ms. Vaughn seconded the motion and motion was approved unanimously. A rehabilitation loan request for Elijah and Maudie L. Tomlinson, 2815 Moore was made in the amount of $5,200 at three (3%) interest. The total monthly payment will be $96.21 . The Corporation will be in a first lien position. Mr. Garza made a motion to approve the loan as presented and Ms. Vaughn seconded the motion. Motion passed unanimously. Mr. Vallejo explained the Rev. Karen Boehk was resigning as Loan Review Committee Member. He asked if any Committee Member knew of someone that might be interested in serving on the Committee, preferably an attorney, to let him know so that their name may be submitted. Having no further business, Ms. Huegele adjourned the meeting. miNma.66