Travis County Commissioners Court
October 27, 2009,
Travis County Housing Finance Corporation
>> good afternoon, let's call to order the Travis County housing finance corporation.
we do not need item number 1 today.
we have been asked for postponement on that.
it ought to be back on next week.
.
number two to consider and take appropriate action on request to add anna lpampan as individual authorized to enter data into the Texas department of housing and community affairs contract system for home tenant based rental assistance contract number 10001101.
>> good afternoon, I'm harvey Davis, manager of the corporation.
and this is a request just to add a second health and human services employee who we are partnering with to add minister this grant to enter data into the system that is provided by the tex department of housing community affairs.
>> move approval.
>> second.
>> any reason we should not grant the request?
>> we recommend you grant the question.
yes, please.
>> all in favor.
that passes by unanimous vote.
number three to consider and take appropriate action on request to approve the following.
a, release of lien on a home down payment assistance loan sananiago and marina lorna, and b, payment to tex housing and community affairs due to repayment in full of a home down payment assistance loan.
>> this is a request that we have processed many times in the past where this was a grant we had in the late '90s.
and in those grants the loans were not forgivable.
so whenever somebody sells a home, they have to repay the zero interest down payment assistance.
the way it was styled back then, they have to pay the money to the corporation but we are obligated by contract to them pay the same amount of money to the Texas department of housing community affairs.
so there's a release of lien for me in there that has been reviewed by our attorney.
again, we have received the funds, put them in the bang.
so we recommend approval.
>> move approval.
>> that is of a and b.
>> yes.
>> yes.
>> discussion?
all in favor.
that passes by unanimous vote.
misclerk, let the record show that directors Huber and Davis missed the entire meeting.
move adjournment.
wait, a number 4.
that is to consider and take appropriate action on request to participate in the treasury gse mortgage revenue bond purchase program, including the filing of a program participation request.
>> this item on October 19, treasury department announced a plan to buy secondel family mortgage bonds that are issued by housing corporations, housing agencies around the country.
this was an announcement long awaited by housing agencies because nobody in the country has been able to issue single family mortgage bonds since the financial crisis last year.
in spite of these types of bonds having an excellent track record.
so this, what we're asking you to approve today is sending a request, a participation request to a law office in washington dc acting on behalf of the treasury department.
it in no way obligates the corporation to issue the bonds.
this is more like the treasury department is wanting a survey of how many, if they, once the program starts, how much demand there will be for these types of bonds.
we will come back.
i would say for Travis County housing finance corner ration, the odds are probably last than 50 percent that we would end up issuing the bonds because there are some hurdles, including some substantial fee involved in issuing the bonds.
so, but this enables us to, if it makes sense, it enables the corporation to issue single-family mortgage bonds sometime next year.
a final decision would have to be made in mid December.
that is sort of the date when you really have to commit.
so this just gives them some information.
and the request says we will issue up to 24 million dollars in bonds.
>> so there a letter making that request or that is this for me right here?
>> just this for me.
doesn't have to be signed.
deadline is today and that is why it was an added item on the agenda because we didn't get notice until late last week that we had this opportunity.
and that we had this deadline today.
so with your approval, then I would just e-mail this information on to the treasury department.
>> it's really one of those yes, we are interested, keep us posted.
>> yes, sir, right.
>> move approval.
>> second.
>> discussion?
all in favor?.
that passes by unanimous vote.
>> move ajounched.
>> thank you.
second?
all in favor.
that passes by unanimous vote also.
and there is a quorum of us to keep Austin beautiful event on Wednesday.
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, October 27, 2009 1:40 PM
