Travis County Commissioners Court
July 14, 2009,
Travis County Housing Finance Corporation
And let's move to Travis County housing finance corporation, one item, consider and take appropriate action to approve an application package to to the u.s.
department of housing and urban development for neighborhood stabilization program to funding.
>> good afternoon, I my name is mike gonzales, senior analyst for the corporation, before you is a complete application for the funds, the deadline for submission is actually July 17th.
i have been to be in washington dc by then so it has to be sent off tomorrow morning at the latest.
>> move approval.
>>
>> [laughter]
>> I second.
>> I will try to be as brief as possible.
and the program, under the american recovery and reinvestment ability, it's an expansion of our industry one which we applied for and just -- just as an update on ms2 ones that going before the Texas housing community affairs this Thursday.
they had 70 people apply, 36 are recommended by staff to get funded.
we were one of those, so not only did we get our direct allocation but we also applied for an as available one so they actually approved that, also, staff recommended approval of that so we should receive 1.37 million to do nsp activities.
but this is -- instead of applying to the state we will apply directly to hud, so I think it is the first time the corporation has done an application directly to hud.
minimum asked for this grant was $5 million so we are -- the total application amount is 56,500,000, the 500,000 is to cover the admin costs that do allow 10%, they do.
and if you look at the memo that was left at your displace, one of the maps -- the first map is ns21, that shows the censors tract that qualifies under nsp based on hud foreclosure scores, so the darker area of the consensus tracks are kind of confined to the eastern portion of the county.
if you look at the next map, Travis County is actually highlighted in yellow, right in the middle.
as you can see, the red areas is what qualifies for nsp2 activities so you can see there is some expansion beyond the original nsp1.
that has really prompted us to really seek applying for nsp2 funds.
we saw there was an actual need within our county.
there is a total of 8 tenths tract that did qualify and mind the map it pin points which ones are allowed so not only eastern part but the southwest portion.
with this programs the a little bit different.
the Travis County has a finance corporation where the only local jurisdiction in Travis County to be applying for nsp2 funds.
the city of Austin chose not to because they didn't have enough census tracts within their boundaries.
the difference with nsp2, though, we can conduct nsp activities anywhere within Travis County.
we don't have to seem abproval from other jurisdictions to do that.
nsp1 laid the groundwork for us to be able to apply for nsp2, as far as coordinating activities and just quick on the front cover of that memo, there is a checklist for the application.
the application forms narrative and disclosures, so specifically, there is that form of 424 that does require or --
>> [indiscernible] to sign off on its so you would have to authorize that.
the disclosures of lobbying activities and the hud 2880 have to also be sign and for the appendix they actual require a code of conduct which the, to my knowledge, I don't think the court -- the corporations -- the corporations ever adopted one and in would be adopting one that meets the requirements for this program and lastly our certification is pretty much boilerplate items that we certify some of the activities for nsp2 such as we will buy for housing requirements and that kind of stuff.
and that is my brief presentation, I can take any questions if you have any on it.
what we are looking at doing on there is also a budget -- we are looking at 5.5 and it is pretty straightforward.
we are hoping to assist or create 140 units of affordable housing over the three year period for the program, 2.4 million will go to households of 120ami and below and 2.5 million will go to households at 50% and below, the two mechanisms we are looking at is downpayment assistance and financing downpayment for those below 50% and mine.
>> for our fast listening public, the neighborhood stabilization program is to take homes that have already been foreclosed upon and repackage them and to sell them to individuals who can qualify for them through this program, correct?
>> that's correct.
>> I move we approve the application that would authorize the president of the corporation to sign necessary documents (n
>> second.
>> to basically perfect the application.
>> and I might add that the -- the hud will make the awards in December, so this -- if we are successful, this program would be -- would start next -- next calendar year.
>> do you need us to also approve the code of conduct?
>> right.
the code of conduct, pretty much the five things of pages that were noted, all need to be pretty much adopted or say that they are approved.
>> if they are part of the application, the motion covers it.
>> okay.
>> if they are not part of the application, they need a separate posting.
do you see what I am saying?
>> yes.
>> so my motion was to pick up everything that needed to be ex signed to submit the application.
i said to perfect the application trying to hedge a little bit.
>> I like the --
>> all documents that need to be executed for the application to be submitted, that motion covers them.
otherwise they need a separate posting for another day.
>> the complete application package, I agree.
>> okay.
>> judge, the president's motion was right on time again.
>> uh-huh.
>> did we vote on it?
>> no, not yet.
>> Commissioner Davis seconded it though, right, all those in favor.
this passes by unanimous vote.
second that we adjourn?
all in favor.
that carries unanimously.
that does it for today, right?
(meeting concluded)
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Last Modified:
Tuesday, July 14, 2009 1:31 PM