Travis County Commssioners Court
March 2, 2004
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Housing Finance Corporation
Now let's call to order the Travis County housing finance corporation. 1. Consider and take appropriate action to approve preparation of an application with the Texas department of housing and community affairs for home funds for a homebuyer assistance program.
>> good afternoon, I'm harvey Davis, manager of the corporation. Texas department of housing and community affairs has come out with announcement that home funds are available. The grant or the home funds are -- is due April 16th, just to review what we have done in the past, we have -- we have completed two grant programs in which we have gotten home funds to provide home -- down payment assistance to first time home buyers. We did a program in 1995 and '96 that was -- that was $135,000, I had -- in your backup it says 77,000, but it was $135,000 and we made 77 loans. And then in 2001, we had a -- a $50,000 grant in which we made 10 loans to first-time home buyers. In addition we have been we have gotten or received a grant from thca, that was awarded this last December, to provide 60 forgivable loans to first time home buyers. I -- I received the -- the contract from tdhca today. So that will be an item to look at next week on the board's agenda. Any reason we should not do this?
>> I would recommend that we do this.
>> any reason we should not?
>> answer is no.
>> expenses are still [indiscernible] with this?
>> the expenses is that we would hire hunter and hunter to write the grant. He charges $750 plus expenses capped at $200, so that's $950, plus a $30 application fee with tdhca, so the amount that would -- that would cost would be $980, that was not reimbursible by the grant. If we -- if we make -- as we make these loans, the corporation does get a $50 processing fee, so for example if we did 60 loans, the corporation would get $3,000 chltd help pay for your expenses and the grant writing.
>> that is why I move approval.
>> second.
>> any discussion? All in favor? That passes by unanimous vote.
>> move adjourn.
>> second.
>> all in favor? That passes by unanimous vote. Also.
Last Modified: Wednesday, March 2, 2004 9:13 AM