HomeMy Public PortalAbout09-13-95 CDBGf
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CITY F LYNWOOD
CITY CLERKS OFFFICE
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COMMUNITY DEVELOPMENT BLOCK GRANT
ADVISORY BOARD - COMMISSION
REGULAR MEETING '
WEDNESDAY SEPTEMBER 13, 1995
6:00 P.M.
LYNWOOD CITY HALL CONFERENCE ROOM
LYNWOOD, CA 90262
KENNETH ALFORD
CHAIRPERSON
MARGARET ARAUJO
VICE CHAIRPERSON
BLANCA CHAVIRA
COMMISSIONER
DONALD PRIMMER
COMMISSIONER
OPENING CEREMONIES:
A. CALL TO ORDER
B. FLAG SALUTE
C. ROLL CALL
D. CERTIFICATION OF AGENDA POSTING
E. APPROVAL OF MINUTES:
AUGUST 16, 1995
F. NEW BUSINESS
1. LOAN REVIEW COMMITTEE
G. STAFF ORALS
H. BOARD ORALS
I. ADJOURNMENT
LAURA BYRD
COMMISSIONER
CONSTANCE FRANKLIN
COMMISSIONER
MARSHA WILLIAMS
COMMISSIONER
Adjourn to the next regularly scheduled meeting at 6:00 P.M. in
the Council Chambers of Lynwood City Hall, 11330 Bullis
Lynwood, California.
ISOM
MINUTES OF A SPECIAL MEETING OF THE COMMUNITY
DEVELOPMENT BLOCK GRANT ADVISORY BOARD
COMMISSION
WEDNESDAY, AUGUST 16, 1995
A. CALL TO ORDER:
The meeting was called to order on the above captioned date
by Chairperson Alford at 5:15 p.m., in the Lynwood City Hall
Conference Room, 11330 Bullis Road, Lynwood, CA.
B. FLAG SALUTE:
The Flag Salute was led by Commissioner Primmer. All those
present participated.
C. ROLL CALL:
Chairperson Alford requested,roll call; staff complied as
follows:
PRESENT: Chairperson Alford
Vice Chair Araujo
Commissioner Chavira
Commissioner Franklin
Commissioner Primmer
Commissioner Williams
ABSENT: Commissioner Byrd
STAFF: Annette Clark, CDBG Manager
Chondra Handley, Minutes Clerk
Donyea Adams, Rehab. Specialist
D. CERTIFICATION OF AGENDA POSTING:
Staff informed the Commission that the Agenda was posted per
the Brown Act.
E. APPROVAL OF MINUTES:
Motion was made by Commissioner Franklin, seconded by
Commissioner Primmer to approve the minutes of August 7,
1995. Motion carried unanimously.
F. NEW BUSINESS:
1. LOAN REVIEW COMMITTEE (SUBORDINATION REVIEW)
Ms. Ruby Charles of 11840 Lindbergh Ave., gave a brief review
of her request for subordination. Ms. Charles stated that
she is requesting approval of the subordination in order to
refinance her property to obtain a fixed mortgage rate.
Ms. Sharon Butler of Old Town Financial, who is the Loan
Broker for Ms. Charles and Ms. Jackson explained to the
Commission that the maximum interest rate on the current loan
for Ms. Charles is 13% which would increase the current
mortgage payment to approximately $700.00 - $830.00 per
month. Ms. Butler stated that the new proposed loan would
provide a fixed rate with a term of 30 years and a baloon
payment due in 15 years.
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Ms. Clark asked Ms. Butler if the Finance Company could find
another type of loan which would be more beneficial to the
applicant. Ms. Butler stated that at this time the proposed
loan is the best her firm could offer.
Ms. Anita Jackson of 12317 Alpine Ave., gave a brief review
of her request for subordination. Ms. Jackson stated that
the purpose of the subrodination is to refinance and obtain a
fixed interest rate, which would be more affordable.
Commissioner Araujo asked Ms. Butler, if the proposed loan
amount was increased would the monthly payment increase? Ms.
Butler replied that Ms. Jackson does not qualify for a larger
loan amount.
There being no further comments from the applicants, the
Community Development Block Grant Advisory Board adjourned to
closed session for the purpose of discussing the requests for
subordination.
The results of the discussion are as follows:
Anita Jackson 12317 Alpine Ave
Motion was made by Commissioner Franklin, seconded by
Commissioner Williams to deny the request for Subordination
of the Deferred Payment Loan, due to the lack of evidence to
prove financial hardship. Motion carried unanimously.
Ruby Charles, 11840 Lindbergh
Motion was made by Commissioner Franklin, seconded by
Commissioner Chavira to deny the request for Subordination of
the Deferred Payment Loan, due to the lack of evidence to
prove financial hardship. Motion carried unanimously.
G. STAFF ORALS
Commissioner Araujo congratualated Commissioner Chavira on
her reappointment to the CDBGAB Commission.
H. BOARD ORALS:
NONE
I. ADJOURNMENT
Motion was made by Commissioner Franklin, seconded by
Commissioner Araujo to adjourn to the next regularly
scheduled meeting. Motion carried unanimously. The meeting
adjourned at 6:35 p.m.
CHAIRPERSON
ANNETTE CLARK, CDBG MANAGER
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