HomeMy WebLinkAbout1985-10-11; Rehabilitation Loan Committee Ad Hoc; MinutesMINUTES MEETING: REHABILITATION LOAN COMMITTEE DATE : October 11, 1985
TIME : 1o:oo AM
PLACE : Redevelopment Office Conference Room
2965 Roosevelt St. , Suite "B"
Carlsbad, CA. 92008
CALL TO ORDER
Meeting called to order by staff representative
Patricia A. Cratty, Administrative Assistant 11/
Redevelopment .
ROLL CALL
Committee Members: JOHN MCCOY: Housing and Redevelopment Advisory
Committee, Chairperson
JIM ELLIOTT, Finance Director
MARTY ORENYAK, Building and
Planning Director
Staff Present: PATRICIA A. CRATTY,
Administrative Assistant 11/
Redevelopment
CHRIS SALOMONE, Community
Redevelopment Manager
ITEMS
OLD BUSINESS
I. NEW MEMBER FOR COMMITTEE
Staff member Patricia Cratty gave staff report
regarding new committee member as presented in
packet.
Ms. Cratty stated that the make-up of the committee
was; the Building Department head or designee, the
City's Director of Finance or designee, the Chair
of the Housing and Redevelopment Advisory Committee
and a lending institution representative.
Staff member Cratty stated that the first three were
fixed by virtue of position and the 4th
representative was selected by the committee as
far as she could determine from past records of the
Committee.
Member Orenyak stated that the Committee had
selected the bank representative.
Discussion was held regarding the selection of a
bank representative to sit on the committee. Member
McCoy stated that he would nominate Don Schempp fron
the First National Bank of North County. Member
Elliott said he was pleased with the nomination of
Don Schempp as well as applications filed by Mike McDermed of La Jolla Bank and Roy Ward.
Member Orenyak expressed a concern over turn over of personnel at First National Bank of North County
but did not have a specific problem with nomination
of Mr. Schempp as bank representative on committee.
MINUTES
bilitation Loan Committee PAGE 2 10/11/85
Staff member Cratty stated that she had met with Mr. Schempp to discuss the rehabilitation loan
program.
Member McCoy stated that Mr. Schempp's office is
basically in San Marcos. After further discussion
Member Elliott moved to appoint Mike McDermed of La Jolla Bank and Trust as Bank Representative for
Committee seat.
Committee asked that Ms. Cratty contact Mr. McDermed
2. PROPOSALS FROM LOCAL BANKS
Ms. Cratty gave staff presentation as stated in
report. It was noted that 13 banks had been contacted to submit proposals for the rehabilitation loan program. Ms. Cratty stated that San Diego Trust and Savings Bank had indicated that they were
interested in submitting a proposal but needed more
time. Two proposals have been received at this
time from Bank of America and Security Pacific.
Ms. Cratty stated that the existing contract with
the Bank of America was good until October 31, 1985
but could be extended for another 90 days. County has already given approval to do so. Staff mentionel that the Bank of America had concerns that the Committee did not feel they were getting the service expected. Staff stated that the Bank of America
had been in contact and would put a person in the
local branch to do the rehabilitation loans. Staff discussed Security Pacific proposal stating that the had substantial charges for loan processing.
Committee member Elliott suggested that the contract
with the Bank of America be extended another 90 days
to allow time to review the proposals. Staff asked
if Committee wished to set time limit on proposal
form San Diego Trust and Savings. Committee agreed
that if proposals was not received in 20 days
(October 31, 1985), then selection should be made
without it being considered.
Committee members stated that the selection of bank
for rehabilitation program should be made at their
next meeting. Committee members also asked staff
to provide Mr. McDermed with copies of the two
proposals that have been submitted to date.
Ms. Cratty stated that Lois Cyr from the Bank of
America had offered to speak to Committee regarding
service of Bank of America.
NEW BUSINESS
3. EXPANSION OF RESIDENTIAL LOAN AREA
Staff member Cratty gave report on the possibility of expanding the residential loan program City wide.
lLLIOTT
lRENYAK
CCOY
MINUTES
Rehabi itation Loan Committee PAGE 3 10/11/85
Ms. Cratty stated that staff was waiting for a
letter form the County that the Residential Loan
Program could be expanded City wide. Staff at this
time would like comment from the loan committee
regarding the expansion. Ms. Cratty stated that if
approved,item could be taken to Council for
approval.
After discussion regarding the expansion, Committee
decided to defer any action until they had
correspondence from County.
Member Elliott asked that 12th Year CDBG funds
be put into the Residential and Commercial
Rehabilitation Loan Programs. Motion made.
Meeting adjourned at 10:45 AM.
Respectfully Submitted,
PATRICIA A. CRATT~ Administrative Assistant Redevelopment
BIB1 LEAK Acting Minutes Clerk Secretary
Redevelopment
\I MEMBERS
ELLIOTT
ORENYAK
MCCOY