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HomeMy WebLinkAboutMinutes Corpus Christi Community Improvement Corporation/Loan Review Committee - 07/05/1995 IMO S MINUTES CORPUS CHRISTI COMMUNITY IMPROVEMENT CORPORATION LOAN REVIEW COMMITTEE JULY 5, 1995 12 NOON STAFF PRESENT MEMBERS ABSENT Hector G. Vallejo, Program Manager Beverly Bacak Fred Peria, Rehab Supervisor Ben Grande Delia Garcia, Loan Processor Supervisor Robert E. Jones Josie Longoria, Rehab Secretary Leroy San Miguel MEMBERS PRESENT Alynda Asher Diana Bazan Ernest Carter Ruben Fuentes Louis Garza Caroline Stahl Alice Vaughn Vice-Chairperson, Louis Garza called meeting to order at noon in the Human Resources Conference Room on the 2nd Floor of City Hall. Mr. Garza introduced new member Caroline Stahl to the Committee. Due to the resignation of Chairperson, Ms. Rose Royce Huegele, Vice-Chairperson, Louis Garza assumed the position of Chairperson. Mr. Fuentes nominated Mr. Carter for Vice-Chairperson. Ms. Vaughn seconded the nomination. There being no further nominations, motion was passed unanimously. The first order of business was to approve the minutes of June 7, 1995. There were no changes or corrections to the Minutes of June 7, 1995. Mr. Carter made a motion for approval of the Minutes. Motion was seconded by Mr. Fuentes. Motion passed unanimously. The following loan requests were presented: A demolition/replacement loan request was made for Celia G. Serrato, 3234 Greenwood, in the amount of $12,000.00 at zero percent (0%) interest. Loan request includes a Minimum Deferred Loan in the amount of $18,000.00, Emergency Repair Grant in the amount of$2,000.00 and a Relocation Grant of$2,000.00. Total monthly payment will be $86.33. The Corporation will be in a first lien position. SCANNED it N After a brief discussion, motion was made by Mr. Carter to approve the loan as presented. Ms. Stahl seconded the motion. Motion passed unanimously. The next request presented was a rehabilitation loan request for Eulojio and Clara Zavala, 5305 Shasta, in the amount of$24,650.00 at three (3%) percent interest. Total monthly payment is $136.71. The Corporation will be in a second lien position. Mr. Vallejo explained that under the present guidelines, Mr. and Mrs. Zavala do not qualify for refinancing. Mr. and Mrs. Zavala have requested that the guidelines be waived, allowing them to refinance. After a discussion, Ms. Stahl made a motion to approve the loan allowing Mr. and Mrs. Zavala to refinance, placing the Corporation in a first lien position. The new loan amount requested is $31,300.00 at three (3%) percent interest. New total monthly payment is $224.59. Mr. Fuentes seconded the motion. Motion passed unanimously. Having no further business, Mr. Carter made a motion to adjourn the meeting. Mr. Fuentes seconded the motion. Motion passed unanimously. Meeting adjourned. mritsjul.95