Travis County Commissioners Court
Tuesday, May 11, 2010,
Housing Finance Corporation
Housing finance corporation, item no. 1, request to approve a release of lien on a home down payment assistance loan and reimbursement payment to the texas department of housing and community affairs due to repayment in full of a home down payment assistance loan. Mr. Davis.
>> good afternoon, harvey davis, manager of the corporation, this is a similar request that we have made several times in the past. 9 the amount that was paid was $1,849 and i'm asking your approval to release the lien on the home because it was sold and then to authorize payment to texas department of housing community affairs of that amount because that's required by our contract with them.
>> so moved.
>> second.
>> discussion? All in favor? That passes by unanimous vote. 2. Consider and take appropriate action on request to receive update on irs examination of westchester woods revenue bonds and execute irs form 2848.
>> these bonds were issued and -- in 2002, the amount was -- was $15,750,000. They were used to construct an apartment complex in the Pflugerville area.
>> woo-hoo.
>> the i.r.s. Informed us that these bonds are under examination. I did talk to the agent and he -- he said it was a limited scope examination, they were examining the arbitrage to make sure that we -- that we -- that we computed arbitrage correctly. This is similar to an examination we had -- oh, about six months ago. That -- that maybe a year ago, that -- that also came -- i'm -- i'm reasonably optimistic that -- that we -- there will be no issues with this examination. The -- we examined the apartment complex in the past and it's very well managed. The developer is -- is -- is a solid developer and -- and there was an arbitrage report prepared. In a timely manner. So we have responded to the request of the agent, sent him all of the information. I'm asking you to execute form 2848, which authorizes myself, cliff blunt, and -- and mark -- i think his name is mark weatherbury to represent the corporation with the i.r.s. Mr. Weatherbury is the cpafor the developer who is a developer in florida.
>> questions or comments. So -- so we simply need to execute -- authorize execution of the form 2848, the examination will take place without any action by us, right?
>> yes.
>> that's why i move approval.
>> second.
>> discussion? All in favor? That passes by unanimous vote.
>> move adjourn.
>> second.
>> all in favor? That carries unanimously, also, just as a reminder, we do have a public hearing on thursday. At 6:00 in the commissioner courtroom regarding the downtown campus.
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Last Modified:
Tuesday, May 11, 2010 12:35 PM
