Travis County Commissioners Court
November 1, 2005
Housing Finance Corporation
We do need the Travis County housing finance corporation, so I call it to order. The only item is to consider and take appropriate action on request to approve contract with the Texas department of housing and community affairs for $214,500 to provide home buyer assistance to Travis County residents, excluding the city of Austin by state requirement. To authorize the execution and delivery of related documents and to approve implementation program for the contract. Mr. Davis?
>> good afternoon, I’m harvey Davis, manager for the corporation. And the state has sent us a contract for the american dream down payment initiative grant. Cliff blunt has reviewed the contract, so I’m asking the board to approve -- authorize president Biscoe to sign the contract. As part of the contract there is documentation -- documents listing the people that are authorized to set up the program and to interact with the state in managing the contract, and so we're recommending the same people -- same staff people that are managing the current contract continue with this contract, and they are myself, mary mays and leroy legal nis. And we would -- nellis. And there is documentation on the bank account in which they would send the wires to, which is the same bank account that we use now. We have a special account for the down payment assistance program. I’ve included in the backup on the second page the implementation suggestions for the program that I would like to go over with you briefly. Mainly the marketing aspects of the program. I believe that we would be ready to make the actual loans around December 1st, and to prepare for that I’m suggesting that we issue a press release that we e-mail county employees informing them of this program. That we prepare an information flyer or brochure explaining the program. That we would visit the participating lenders in the state bond and mcc program. If you recall, the requirement is that the home buyer has to use the Travis County or the state bond program or the state's mortgage credit certificate program. And that we mail the flyer to the realtors who are using -- who are registered on the housing authorities lease purchase program. And these are realtors that have clientele that are -- a lot of their clientele are first time home buyers that would qualify for this program. That we also update the Travis County website with information about this program, and the Travis County tv station. Otherwise the procedures as far as securing the certified check when we have housings and doing the documentation on the writing of this grant, it is basically we would follow the same method that we are using on the same program -- on the current program.
>> this is a program that we approved previously, not simply a contract?
>> yes, it is.
>> questions? Move approval.
>> second.
>> on all of the things discussed in this item? Discussion. That passes by unanimous vote with director Davis absent. Thank you. All in favor? That passes unanimously also.
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Last Modified:
Wednesday, November 1, 2005 8:22 AM