Travis County Commssioners Court
June 1, 2004
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.
Item 27
Let's see if we can get one more item in, item 27, consider and take appropriate action to approve the formation of a new housing finance corporation and to approve the implementation by the new housing finance corporation of a single family lease purchase program and other related matters.
>> good morning. I知 [indiscernible]. This is an item that was on several weeks ago. It's to have the housing finance corporation formed with the board to essentially be the Commissioners from the Travis County housing authority in order to enter a lease purchase program. And I know there were some additional [indiscernible] why -- housing authority are here to answer any questions and I think really what's a question now is the question of [indiscernible] to be called the strategic housing finance corporation of Travis County. And to proceed with the transaction together. [audio difficulties] the statute will require before those bonds are issued and that program started an approval by the Commissioners court. So this is not a final approval of the lease perform program but just a request to get started on the housing finance corporation, the second financing housing corporation and put all the documentation together and submit to the attorney general's office.
>> I know this may not be relevant, but then again it could be. I知 really, really concerned about the folk out in the community knowing about such a great opportunity as we've been experiencing as we've been going through this session. There's a great demand, a great need for persons that's maybe been kind of left out of the traditional way of getting into situations for homeownership. This, of course, program is something that I think will be a great addition to that. But not only that because it operates not only in the county but also [indiscernible] within the city limits. So as far as the lease purchase aspect of purchasing a home, what I知 really pleading with everyone to please get the word out because it's very significant that folks understand that they have the possibility to purchase a home through a lease situation, and of course based on the term and conditions of the lease, but there is an opportunity here that didn't exist before. And we haven't approved that yet, aspect of it, but I知 just saying I知 just really concerned about getting a real grip on the knowledge of what we're doing here as far as getting it in the community. So I知 really concerned about how we do that. But I知 just posing that now to you because I think that's going to be very key. Persons taking advantage of this situation.
>> I believe that the housing authority have already started having meetings with real estate broke, and mortgage companies and I know marketing is an essential [indiscernible] transaction.
>> exactly. Anything I can do to assist in that, I want to be a vital, I intricate part of that because I see it all over the place and especially when folks are asking how can I get a home. They've been turned down prior to t. To the traditional way of getting in and now they are looking for alternatives to have homeownership. And we're not there completely yet, but I just didn't want that to be hrefrt out of the picture as far as marketing the property where these questions can deal with this situation for homeownership.
>> [indiscernible] housing authority. Commissioner Davis, I understand your concerns and I hear you. The marketing will be very broad based with this program and we'll be happy to provide you with the type of marketing materials that we'll be using once those are ready to go out. And will you see, we'll make sure you are aware of the avenues that we are pursuing to make sure all areas of the community are covered as far as getting word out about this program. In addition to that, this coming Thursday we're going to be having lender and realtor training at the offices of the Austin area urban league. They have been gracious enough provide us space and we certainly appreciate that. We're going to be having sessions both in the morning and in the afternoon, and I will e-mail each of your offices with a copy of that invitation should you wish to attend or send someone. That's going to be for the lenders and realtors. We'll then be working with our program administrator, going from that point forward to start putting the marketing materials together. And we certainly want all of you to be aware of our level of outreach on getting this program out to the public.
>> thank you.
>> yes, sir.
>> help me understand who is going to be the appointment. In the backup that i've got, the initial directors are basically the five individuals who serve on our housing authority. Is that intended to be the future state of affairs, kind of like the Commissioners court is the corporation or because of some backup I got from the judge about is this just to get us through this formation period and the thought is that others who have other interests and expertise in housing might be part of this corporation.
>> well, I think at any time if the Commissioners court could add one or more additional directors, the Commissioners court appoints the directors of the housing finance corporation, so Commissioners court could either now initially appoint one or more members or at any point in the future do that. So I know there was a little discussion about having additional persons being appointed. I've not heard any specification, but I know there was some discussions. But that could be done now or later, but I think the intention was, at least initially, for the housing authority board to be the onboard of the h.f.c. Also. But again, you can appoint additional persons t. Way it's set up and to avoid the whole financial statement issue, you can't remove those detectivers at will, but you can for cause.
>> [inaudible].
>> now, the directors have to be Travis County r-pbltsz, right?
>> yes, sir.
>> and one of the questions was whether we -- today it's a decision for us related to the overlaying of the requirement on the smart housing or not. Is that a decision for today or is that a decision for a different day?
>> it does not have to be done today. Real what I we need today is the approval to form the new agency. I believe I said before this transaction and this program will come back before Commissioners court for approval before closing. That's required under the statute. And I think at any point between now and closing that decision could be made -- at some point there will be a final decision made, but for us to move forward right now today, that does not have to be.
>> because I have said this many times so far and i'll say it one more time, I think it would tie the hands unnecessarily of the housing authority to have to have the new housing within the city of Austin be subject to the smart housing program. It is not required that you be part of the smart housing program. It's an option for the city of Austin. If they felt that strongly they would require everybody to be smart housing, but they don't. I don't want to unnecessarily tie their hands. It also would say there's certain excellent quality affordable homes that are being built within the city of Austin that would absolutely for no reason be eliminated for consideration by the consumer. And I find that to be objectionable. And I am -- I am not buying it that if we say no thank you -- we should let them know about smart houses. We should make sure that that is something that is incorporated in in terms of here's an option you may want to talk about. But it should not be a raoeurlt and I知 not believing it for one moment if we don't do, this the city of Austin all of a sudden is going to stop cooperating with Travis County over this. I just -- I don't believe it. Those folks are the most professional of folks and they would never do something like that. We are allowed to have different ways of trying to pitch our -- accomplish our goals and it would be the same as me giving them advice and saying few don't identity our way, we're just not going to cooperate and collaborate with you. I think we need to do is best for the success of this corporation and we should absolutely let people know about the smart housing program. I do believe that's something they ought to be encouraged to look at. But if it's not a requirement of a city of Austin that all homes be built under the smart housing program, I think it unnecessarily ties the hands of this agency to try to accomplish good things in a limited amount of tomorrow because that's also a key to success.
>> judge, [indiscernible] is there a matter of finding out if they can serve?
>> I think it's that and also agreeing on whether we need it. What I [indiscernible] was one sort of -- what I had in mind was a county employee, and then a person from the outside will handle the finance and rally. Rally -- real estate. The requirement you be a Travis County resident had eliminated my first choice, which was joe [indiscernible], but we recommend some people here. I do think we should do a little due diligence with the possibility -- until this issue comes back to us. The other thing is whether or not we are working with the smart housing program at the city of Austin, I guess I would answer one of the questions -- answer whatever questions they have. Hill seems to express that in his may 28th -- to the extent you can do that. But Commissioner Sonleitner, seems to me residents to want to take advantage of the program, we ought to encourage that but it ought not be a requirement.
>> when I was serving at backup for mr. Hilgers letter, we did have subsequent conversations after that to go back on those very issues and we wanted to make sure we had done that prior to coming to you previously for the vote on just being able to move forward and forming the korgs. Corporation. We did respond to those issues and --
>> so you think he just didn't like the responses? The later is dated may 28th.
>> I believe that's a copy -- he sent a letter the 28th.
>> well, the letter had attached to it the February 5th letter. My position is [indiscernible]. But I think to the extent that we can we ought to answer the questions that he has.
>> absolutely. We will respond to it.
>> see if there are -- see what specific questions in his February 5th letter have not been addressed. And to the extent they are supplemental responses, you know -- the court's position seems to be unless there is objection that we ought to encourage Travis County residents to take advantage of the smart housing program but not require it.
>> and I think the city was asking for a definitive answer from the housing authority people, whether they are going to require smart housing for all the new houses that were performed in the city or not. And that was the answer that Commissioner hilgers felt he did not get a definitive yes or no answer from that question.
>> your honor, I gave the answer to those questions. I would like to enter into the record that we respect the city's enthusiasm am for their smart housing program. However, we are not anti-smart housing production. This is not a [indiscernible] program, it is not a production program. I think there was a miss nursing homeer from the -- misnomer. Should not be restricted by the goals of other programs within the city or the county. And I think that was clarification I gave mr. Hilgers. I think there was a misunderstanding that this program has something to do with production, it does not. It has to do with making opportunities for homeownership that's not being met now.
>>
>> [one moment, please, for change in captioners]
>>
>> not the only avenue of home ownership. So again I would like to applaud the judge and all of the -- the one that's have been very responsive to bringing such a program to Travis County. And hope that the court pursues diligently to move forward with this program. Thank you.
>> thank you.
>> approve item no. 27, move to approve.
>> second.
>> next time it's on we will have those two.
>> the dates have changed since that backup, so I will get a new signature package and get it to your office.
>> okay. Any more discussion? All in favor? That passes by unanimous vote.
Last Modified: Wednesday, June 2, 2004 7:47 AM