Travis County Commissioners Court
October 31, 2006
Housing Finance Corporation
Now let's call to order the Travis County housing finance corporation. Up front we need to postpone number two. We may as well do the agreement for the corporation at the same time we do the visitation agreement for Travis County.
>> all right.
>> so we will not need number two today. We'll have it back on at the same time the Travis County item is back on in a week or two weeks. I'll get a status report on that one. Number one, though, is is to consider and take appropriate action on a request to, a, approve home buyer assistance contract with the Texas department of housing and community affairs, and b, allow Texas veterans land board loans offered through the Texas general land office as qualified first liens.
>> good afternoon, I'm harvey Davis, manager for the corporation, and I'm here with mary kay from our office. Last October you authorized -- April you authorized the corporation to smilt submit a grant for the new home buyer assistance program. That application was successful for a 208,000-dollar grant. 'And so what we're asking today is the board to approve the contract with the state. That contract has been reviewed with cliff blunt and he's informed me that it is appropriate for the board to approve the contract.
>> move approval.
>> second.
>> discussion? All in favor. That passes by unanimous vote.
>> there's a b. A very important b.
>> a very important b. As you know, in order to prevent predatory lenders from using our program to assist low and moderate first time home buyers we restrict the use -- we require that the home buyer secure their first mortgage through the Travis County housing finance corporation, the Texas department of housing and community affairs or the Texas affordable housing corporation bond program or the Texas department of housing and community affairs mortgage credit certificate program. So we would like to add the Texas veterans land board to the approved list that the home buyer can use for their first lien. This is -- they have a 20-year track history of providing mortgages to Texas veterans. They issue about $600 million in tax exempt and taxable bonds, and their interest rates are competitive in the market and they're certainly not a predatory lender, so I'm asking approval to include them on the list.
>> move approval.
>> second.
>> discussion? They indicated an interest?
>> yes. I have talked with them and they were very happy and they sent me a list of other home buyer sis sense programs that use their programs combined with the state.
>> all in favor? That passes by unanimous vote.
>> thank you.
>> thank you, mr. Davis.
>> now we're ready to adjourn.
>> all in favor? That passes by unanimous vote. With director Gomez absent the entire meeting for the Travis County housing finance corps.
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.
Last Modified:
Wednesday, November 1, 2006 11:30 AM