Travis County Commssioners Court
April 1, 2003
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Housing Finance Corporation
Let's call to order the Travis County housing finance corporation. 1. Approve (1) release of lien and (2) reimbursement payment to Texas department of housing and community affairs for repayment of home project loan # 36662000-62, and take appropriate action.
>> good afternoon, I’m harvey Davis, manager for the corporation. The corporation made a loan in June of 1997 using home funds, a $2,000 loan. That loan has been repaid and -- and we are required by our contract with the Texas department of housing you and community affairs to reimburse them to $2,000. So I’m asking permission to release the lien and to make the repayment.
>> this is a standard release and reimbursement?
>> yes, it is.
>> one that we have done many times before.
>> yes.
>> move.
>> second.
>> that was my motion. Seconded by director Gomez. All in favor? That passes by unanimous vote. 2. Consider and take appropriate action on request to execute a subordination of lien on home project loan #.36662000-71.
>> again, this was a loan the corporation made again in June of 1997. The amount was also $2,000. This party is refinancing their loan to take advantage of lower interest rate and has requested a -- the corporation execute a subboard nation of the lien -- subordination of the lien and I did contact the state and they said that we could subordinate the lien. I got the closing statements and the information from the -- from the title company and the lender that in fact this party is solely refinancing to take advantage of lower interest rates, they are not taking out additional moneys or -- so in my opinion, this is -- this is an appropriate action for the board to approve because it in fact helps this home buyer.
>> and they are going from 7.08 to 5.5.
>> I didn't say.
>> good move.
>> move approval.
>> second. Any more discussion? All in favor? That passes by unanimous vote. 3. Approve board of directors minutes for meeting of March 4, 2003.
>> so move.
>> second.
>> all in favor? That passes by unanimous vote.
>> move we adjourn.
>> second.
>> all in favor? That passes by unanimous vote, also.
Last Modified: Tuesday, April 8, 2003 1:25 PM