Travis County Commissioners Court
Tuesday, February 22, 2011,
Travis County Housing Finance Corporation
Travis County house finance corporation, item 1, consider and take appropriate action on request to approve representation letter to be provided to lock art, atchley and associates regarding fiscal year 2010 annual financial audit.
>> good afternoon, harvey Davis, manager of the corporation.
the letter is from atchley and associates.
the agenda item reads -- is not correct.
they changed their name, however, the letter I'm asking you the approve is addressed and our lawyer did say it was okay to approve this letter.
it's the same letter that you approved on consent for Travis County and that it represents that the auditor has been -- we have not held back any vital information for them to issue an opinion on the financial statements of the corporation and your staff, three members of your staff has -- have already assigned the letter.
>> and the Commissioners court has always guided us well, mr. Davis.
>> yes, sir.
>> move approval.
>> second.
>> discussion?
that passes by unanimous vote.
number 2, consider and take appropriate action on request to approve a reservation system participant agreement with the Texas department of hospitalling and community affairs.
>> and this is for the tenant based rental assistance program that is an ongoing grant that we have, and we will be able to supplement this grant because the state has put a million dollars in a pool for tbra or tenant based rental assistance grantees to access and you approved in November -- you authorized us to apply for this reservation system, and on January 20th, the state approved our application, and so what I'm requesting you to approve is execution of the contract with the state.
the contract includes authorization for the same staff people as we have on the grant to access the state's contract system and approve draws and that sort of thing.
so this is a continue -- or an enhancement of our current tenant based rental assistance grant that is going very well.
>> and for the record, that's harvey Davis, yolanda reyes, miguel gonzales.
>> yes, sir.
>> and we have a consultant -- anna pampa?
>> uh-huh, who is a Travis County employee in health and human services.
if you'll recall that health and human services does implement the family support component of this grant which represents about 80% of the work.
>> questions?
comments?
>> move approval.
>> second.
>> motion to approve and that is to authorize the president to sign this document on behalf of the board.
>> yes.
>> discussion of the motion?
all in favor?
that passes by unanimous vote.
number 3 is to authorize staff to purchase title insurance policies on six downpayment assistance notes.
>> good afternoon, mike gonzales, senior financial analyst for the corporation.
>> good afternoon.
>> we are requesting board approval to authorize staff to purchase six policies.
this is in relation to our efforts to get reimbursed through the Texas department of community affairs through the neighborhood
>> [inaudible] program.
initially the requirement for the title policies were an ex police it with our interaction with the state.
they were only requiring title commitments.
we did secure those.
there are no clouds on title on any of the properties assisted with the funds, however, they are making this a condition for reimbursement so we are going back and purchasing the title policies on the assistance amounts.
>> at a cost of not to exceed $6,000.
>> that's correct.
we do expect it to be significantly less than that, but we wanted to have a little but of room in there.
>> make sure we receive a receipt for that, mr. Gonzales.
so it won't be any misunderstanding.
and your minor reimbursement is what?
about.
>> we're asking you -- your approval to spend up to $6,000 without having to come back to the board on each individual title.
and so this would be -- this would authorize the two signors of the check to sign those checks whenever the titles are submitted and we get an invoice.
>> but it says as a condition to ensp reimbursement.
>> well, the state is saying we're not going to reimburse you, your funds, until you give us a title policy.
>> and the amount of our funds would be, if they reimburse us?
>> they would be -- a couple hundred thousand dollars.
>> yeah, a whole lot more than 6,000.
>> it's close to 500,000, correct.
>> so it's a big deal and it's their condition and so we've got to comply with it.
>> right.
we have eight -- eight projects that we're working hard and, of course, very frustrated that we haven't gotten reimbursed a long time ago.
two of them where we provided 100% financing so there's a mortgage on those.
we did secure the title policy.
these are the ones where we provided downpayment and closing costs assistance.
>> move approval.
>> second.
>> any discussion on the motion?
all in favor?
that passes by unanimous vote.
>> move we adjourn.
>> second.
>> all in favor?
that passes by unanimous vote.
The Closed Caption log for this Commissioners Court agenda item is provided by Travis County Internet Services. Since this file is derived from the Closed Captions created during live cablecasts, there are occasional spelling and grammatical errors. This Closed Caption log is not an official record the Commissioners Court Meeting and cannot be relied on for official purposes. For official records please contact the County Clerk at (512) 854-4722.
Last Modified:
Tuesday, February, 2011 2:19 PM
