Travis County Commissioners Court
November 10, 2009,
Travis County Housing Finance Corporation
Now let's call to order the Travis County housing and finance corporation.
mr.
davis asked us to delay consideration of item 4 until next week, we will have four back on.
1.
consider and take appropriate action on request to approve payments to Travis County for accounting and administrative services.
>> the payment for the housing finance corps that I'm asking you to approve is 175,865.64.
this is -- this is what its proportionate share for the -- for the original agreement with Travis County, plus funding one and a half f.t.e.'s for this year to -- to help assist in administering the -- the neighborhood stabilization grant add the cdbg grant.
>> move approval.
>> second.
>> discussion?
all in favor?
that passes by unanimous vote.
number 2 is to consider and take appropriate action on request to approve an invoice from lockart, atchley & associates, llp for interim audit fieldwork.
>> and the amount of the invoice is $1,204 which we recommend you approve.
it does comply with our contract with this cpa firm who is doing the outside audit for the corporations.
and the invoice has also been reviewed by the county auditor's office.
>> move approval.
>> second.
>> any reason this should not be paid?
all in favor?
that passes by unanimous vote.
>> move adjourn.
>> second.
>> all in favor?
>> do we do 3?
>> I thought we did --
>> I'm sorry, what was your motion.
>> move adjourn.
>> oh, okay.
>> [laughter]
>> let's hold off on that one then.
we did approve item no.
two, didn't we?
>> uh-huh.
number 3.
consider and take appropriate action on request to approve a plan to secure credit reports needed to manage home-buyer assistance programs.
>> with our neighborhood stabilization program, we are being required to pull credit reports on families, I think we're going to be limited just to families whose income is below 50% of the Austin area median income, that's because these will qualify for the -- for the zero percent mortgages that will be underwritten by the date, so we will not have a lender involved in the transaction.
and the state is requiring credit reports as part of the approval process for the home buyer.
we did look at a couple of firms requiring what is called tri-merge credit reports, which is a credit report that takes into consideration the three major credit bureaus.
so we have looked at a couple of companies that -- that provide this service and we're recommending that we do business with -- with crowell factual data, who was also recommended by the state that -- that other grantees use this service and have been happy with it.
for individual an credit report is $13.94 for a joint credit report is $22.83.
there's a $95 initial setup cost that they actually come out and make sure that you're a legitimate business that's asking for this service.
you know, they have to take some care in -- in making sure that this is not some scam type of business frying to -- trying to get credit reports.
so I'm -- the -- the agreement, this is -- in your backup is the agreement with the company.
it has been reviewed by -- by cliff blunt and they also ask for -- for your driver's license and your social security number, so what I'm asking the board -- I am asking the board to go ahead and authorize president Biscoe to sign the agreement and execute it and then go ahead and authorize me, I'm happy to give them my social security number and driver's license as part of this approval process.
unfortunately, this is a little -- a little cumbersome to do this.
but it is necessary to -- to get these credit reports and hopefully we won't have to -- to get a lot of them because -- because, you know, might be 10 or so to -- people that -- that look like they are going to be qualified for these fortunate home buyers that will qualify for this program.
>> move approval too second.
>> so it's not intended to punish, but really to determine eligibility for an incredibly low income rate.
>> yes.
>> by the state.
>> right.
>> now, you know, I'm -- folk market free credit reports all the time.
we don't qualify those, I take it.
>> right.
i think an individual is able to get one free credit report a year.
but that's only from one credit bureau.
>> that's not the trimerge.
>> that's not the trimerge and the state is requiring us to do the trimerge.
>> our state is looking out for us for a change -- I mean again
>> [laughter]
>> yeah.
>> again is correct.
>> discussion?
all in favor?
that passes by unanimous vote.
>> move adjourn.
>> second.
>> all in favor?
that carries unanimously, also.
we will have four back on next week.
remember, our canvassing meeting this Friday at 10:00 a.m.
in this courtroom, typically those take us 10 to 15 minutes.
not more.
ms.
porter, you will be able to join us?
>> I will.
>> okay.
need I remind you that your supervisor, dana debeauvoir, will be in charge
>> [laughter] okay.
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, November 10, 2009 1:40 PM
