Travis County Commissioners Court
August 11, 2009,
Housing Finance Corporation
>> > good afternoon.
let's call to order the Travis County housing finance corporation.
item number 1, consider and take appropriate action on request to approve a contract amendment with Travis County in order to provide funds to convert a part-time senior financial analyst to full-time status for fiscal year 2010.
mr.
davis?
>> good afternoon.
i'm harvey Davis, manager of the corporation.
this item was approved by Travis County on consent a couple of weeks ago.
and it will obligate the corporation to pay Travis County $29,079, which is the cost to convert a half-time senior financial analyst to full time.
and the employee assigned to this slot is implementing the neighborhood stabilization program, of which we have been awarded a grant.
so we need his services, vitally need his services for full time.
>> questions?
this is mr.
gonsz, right?
>> yes, sir.
>> mr.
approval.
>> second.
>> discussion?
all in favor?
that passes by unanimous vote.
number two, consider and take appropriate action to -- on request to, a, open a bank account for tenant-based rental assistance grant.
b, appoint business signature card -- approve business signature card.
c, execute certificate regarding accounts, and d, execute certificate of incumbent si.
for a and b, what we are asking is that you authorize staff to open a new bank account for the tent nant base rental assistance grant.
and we would put $30,000 to open the account.
this is the amount of money that the state is requiring us to have to reserve for the grant because we will have to pay the rental assistance before being reimbursed by the grant.
what is different from this account and other bank accounts that this and other corporations have is that we are asking you to authorize the signers of the account to be mary mays, diana ramirez, and mike gonzalez.
and the reason that we are not asking board members to be signers of the account is that the -- this grant will require us to write 20, 25 checks a month.
and so it is -- it didn't seem feasible for board members to be signing that many checks a month.
we have -- the payments would be approved in our office by leroy nellis, myself and yolanda reyes.
so we do have a division of authorization for this account.
and the -- this account will -- the only activity will be in the account will be this grant.
so we'll start with $30,000 and then it will be a revolving fund as we provide the assistance and be reimbursed by the state.
if you recall, the grant is a 300,000-dollar grant, and we are providing rental assistance for up to 20 families for a two-year period, for up to two years.
and the grant is being implemented in coordination with the health and human services department.
>> so of those three authorized to sign,, two must seen each check.
>> two must sign each check and every check that they sign will be authorized by other -- by the parties that are authorized to approve the payments.
>> three different people.
>> three different people.
yes.
>> questions?
>> is this the place where the money is actually being stored for signature?
what bank is that?
>> that will be jp morgan chase.
>> okay.
i would have to abstain.
>> that's the county's depository bank.
>> yes, sir.
>> so that's a and b?
>> that's a and b.
>> move approval.
>> second.
>> discussion?
all in favor?
show Commissioners Eckhardt, Gomez, Huber and yours truly voting in favor.
Commissioner Davis --
>> abstaining.
>> c?
>> c and d are when we requested signature cards and were going to open this account, they researched their records and found out that these were documents that they need and didn't have in their files to -- these are documents that say who the officers are and are normal documents when you open an account.
if you recall, these accounts for the housing finance corporation were open many, many, many years ago with a different bank.
and when it eventually evolved into jp morgan chase, I guess the original documents weren't forwarded to them.
so we recommend that you approve these documents.
>> move approval of c and d.
>> second.
>> discussion?
all in favor?
show Commissioners Eckhardt, Gomez, Huber and yours truly voting in favor.
>> Commissioner Davis abstaining.
>> three, consider and take appropriate action on request to approve a bank depository contract with jp morgan chase bank.
>> and we are asking you to approve this contract because currently the bank accounts of the corporation are accounts in which you can only write up to three checks a month.
well, we're going to be writing a lot more in this account.
so we have to switch it over to a checking account instead of sort of a money market type of account, which it has now.
and so what we ask the bank, well, would you allow the corporations to be able to use the same fees that Travis County pays for its depository contract?
and they said yes.
so this -- approving this contract will result in significantly less fees because the Travis County bank fees are negotiated and are much less than the retail fees.
>> does Travis County generate more credits than we use?
>> no, because this is a separate agreement and it will not -- it will not have any impact on the Travis County bank analysis, either more or less.
>> they would just charge us less.
>> it will reduce the fees that Travis County will be charged.
Travis County housing finance corporation will be charged.
yes.
>> questions?
move approval.
>> second.
>> discussion of the motion?
all in favor?
show Commissioners Eckhardt, Gomez, Huber and yours truly voting in favor.
>> Commissioner Davis an abstaining.
>> move adjournment.
>> second.
>> all in favor?
that passes by unanimous vote.
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Last Modified:
Friday, August 7, 2009 3:07 PM
