Travis County Commssioners Court
April 13, 2004
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Housing Finance Corporation
Now let's call to order the Travis County county housing finance corporation. One item. 1. Consider and take appropriate action to approve the program design and a memorandum of understanding with consumer credit counseling service of greater dallas, inc. As pa of greater Austin [sic] incorporated as part of the grant application to the Texas department of housing and community affairs for home funds for a 2004 down payment assistance program. Mr. Davis?
>> good afternoon, I’m harvey daichs, manager for the -- harvey Davis, manager for the corporation. On March -- last March 2nd you authorized us to go ahead and -- to proceed in preparing a grant application for the -- for these home funds to have a -- to have a home buyer program and the grant application is due April 16th. In your backup is essentially the completed application. It is in the form or the -- the grant is essentially the same provisions that I had presented to you on March the 2nd, that we would be applying for a $300,000 grant. This would provide 60 loans, 48 of the loans would be to families at 08% or less of Austin area medium income, 12 loans would be for families at 60% or less of Austin area median income. A couple of items that we have added, one, one is that we -- that we would be trying to get some match funds because we -- because we last -- last September we -- the housing corporation made a $25,000 donation to the -- for the garden terrace apartments. They received home funds, so we are saying that we -- that we helped a project that received home funds and so that this should give us points with this grant application. Another item that I don't have in the backup because we just are now working on it is that -- is that last year we -- the housing corporation transferred 650 $650,000 to the Travis County general fund and so what we want to do is try to use that money as -- as match. It's a little bit of a launch out because there is an incorrect connection because the county has a weatherization program that the county provides general fund money to supplement the weatherization program. That program is receives grant funds from the Texas department of housing and community affairs. So we want to try to -- to save it. Where we have matched in an indirect way the weatherization program because we transferred money to Travis County. Again, like I said, it's -- it may be a little bit of a long shot, but it would -- if they -- if they don't give us match points for that, at least I could talk to them and see how we might better structure a transfer to Travis County in the future.
>> move approval of the application. Including the memorandum of understanding with consumer credit council and [indiscernible] which we have used before. Any more discussion? All in favor? That passes by unanimous vote.
>> move adjourn.
>> all in favor? That passes by unanimous vote, also.
Last Modified: Wednesday, April 13, 2004 12:32 PM