Travis County Commissioners Court
July 21, 2009,
Travis County Health Facilities Development Corporation
By the way, director Eckhardt is absent today.
now let's call to order Travis County health facilities development corporation two items.
1.
consider and take appropriate action on request to approve two invoices from the wellness budget.
and I'm here with ms.
garrett with the wellness committee.
and I'm asking your permission to -- to pay two invoices, one to lee mccormick for $550 and the second one to emerson tryinger, they are providing training services and the wellness committee has confirmed that these services have been provided and it is -- so we recommend that you approve paying these within the wellness budgets.
>> discussion?
>> move approval.
>> second.
>> all in favor?
that passes by unanimous vote.
director Eckhardt absent from this meeting, too.
item no.
2 is to consider and take appropriate on request to approve subordination agreement between wells fargo bank, pb, Austin ridge, llc, mf Austin ridge, llc, city of Austin and Travis County health facilities development corporation.
>> and this item is involving the co-location team of -- or the co-location of the child protection team at the Austin ridge project.
the -- the health corporation has a lien on the property, on the entire complex.
that was put in place many, many years ago in the late 90s and they are -- they are the owner is going to do a remodeling of -- of a couple of buildings for the -- for the child protection team.
and he has secured a loan from wells fargo to do the remodeling, a $4 million loan.
so the bank is requiring that -- that the corporation's lien be subordinated to the remodel -- the 4 million-dollar loan from wells fargo.
the legal documents have been reviewed by our attorney, cliff blunt.
and the county attorney lee aldridge, we all recommend that you approve this request.
it does not release the lien.
it does subordinate the lien.
the city, as you recall, also has a lien on the property, a larger lien, it was two and a half million dollars.
they have subboard nateed the lien.
however, what is different is that the city has agreed that once the remodeling has been completed, that they would release the lien on the property.
so the owner may come back and ask the corporation to -- if it would we lease the lien on the property once he remodels it.
but this does not do that.
for the record you have not said anything to bind us one way or another.
>> no, sir, I have not.
>> questions?
move approval.
discussion?
all in favor?
that passes by unanimous vote.
>> move adjourn.
>> thank you.
>> second.
>> all in favor?
that carries unanimously, also.
john hilly wants to know if you were hinting a few minutes ago that we had too many lawyers involved in that subordination agreement.
>> no.
i wasn't hinting.
>> [laughter]
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:
Tuesday, July 21, 2009 2:31 PM