Travis County Commissioners Court
July 20, 2004
Housing Finance Corporation
We do need the Travis County housing finance corporation so we called it to order. Consider and take appropriate action on the following, (a), a budget amendment and (b), invoas from wells fargo corporate trustee services on the Travis County housing finance corporation, 2001. Dash.
>> I'm harvey Davis, manager for the corporation. I'm asking board approval to transfer $1,800 to trustee feline item so that -- and also asking the board to approve an invoice from wells fargo for trust services on the 2001 note program. The invoice is for $1,815.81, but I'm asking approval for only $1,800 because they did charge for airbills and we're not able to substanate those charges so they said please just pay the $1,800. This is -- this is a fee that the board has paid in prior years. Again, it's been $1,800 a year, so this is an on going fee. The reason it wasn't in the budget was that the new note program was approved in March of 2004.
>> so your requesting that it come from reserve?
>> yes from, unallocated reserve, yes, sir.
>> for the corporation?
>> yes.
>> for the corporation.
>> approval of a and b? Discussion? All in favor? That passes by unanimous vote. 2 is to consider results of a compliance audit of travis station apartments and take appropriate action. Travis station apartments is located on ed bluesteen in eastern part of the county. This is a follow-up audit from an audit that I did in February. At that time the apartment complex was refunding their bonds and we had some issues about the proper documentation regarding eligible tenants and the board instructed me to do a follow-up audit in about 90 days. I did go out last month and did a follow-up audit and represent to the board that this apartment complex has regained compliance with eligible tenant leasing requirements. I have a letter to send to the owners informing them that we have completed the audit and they are in compliance. The only change on the letter is it's dated July 13th and I would change the date to the July 20th.
>> the letter goes out over your signature?
>> if that's okay with the board.
>> move approval.
>> that's why I'm going to support this. Second Commissioner Davis's motion?
>> second.
>> and thank you, mr. Davis, your dedication, hard work, et cetera. All in favor? That passes by unanimous vote. 3 is to consider and take appropriate action on the following, (a), release of lien on a home down payment assistance loan and be reimbursement payment to Texas department of housing and community affairs due to repayment in full of the home down payment assistance loan.
>> and this is similar to items that I have brought before the board many times in the past. This first time home buyer purchased a home in April of 1997. They have repaid the loan. The amount is $1,905. Fidelity national title insurance company has asked for a release of lien so I'm asking the board's approval to release the lien and to reimburse the Texas department of housing and community affairs the $1,905 that is required under our contract with them.
>> by the reasons given I move approval of (a) and (b) of 3.
>> second.
>> any discussion? All in favor? That passes by unanimous vote.
>> four is to approve minutes of a board of directors meeting on may 4, 2004.
>> second.
>> all in favor? That passes unanimously.
>> five is to consider and take appropriate action to approve the transfer of the investor limited partnership interest in one sdi ltd, the partnership that owns circle s apartment, 2, tcig guaranteed tax credit fund v, llc.
>> o-k-a-y [laughter]
>> i've been informed this transfer is required by the loan agreement and the transfer has to be approved by the corporation, the trustee and the borrower, and have been informed that the bond holder, charter mack does not have a problem with the transfer of this trustee and that also our attorney cliff blunt does not see any negative consequences to the corporation if the board approves this transfer.
>> that's why I move approval.
>> second.
>> any discussion? All in favor. That passes unanimously. All in favor? That passes by unanimous vote also.
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Last Modified:
Friday, October 28, 2005 12:36 PM