RUSTIN HOUSING FINflNCE CORPORRTION Kirk Watson, President Jackie Goodman, Vice President Raul Alvarez, Director Beverly Griffith, Director Daryl Slusher, Director Danny Thomas, Director Will Wynn, Director Jesus Garza, General Manager Joe Canales, Secretary Andrew Martin, General Counsel BOARD OF DIRECTOR'S MEETING AUSTIN HOUSING FINANCE CORPORATION SPECIAL CALLED MEETING MINUTES THURSDAY, MARCH 22, 2001 The Board meeting of the Austin Housing Finance Corporation (AHFC) was convened at 3:34 p.m. The following agenda were the AHFC items considered by the Austin Housing Finance Corporation's Board of Directors. BOARD OF DIRECTOR'S MEETING OF AUSTIN HOUSING FINANCE COPRORATION All of the following zoning items were acted on by one motion. No separate discussion or action occurred on any of the items. The public hearings were closed and the consent items were approved on Board Member Wynn's motion, Vice President Goodman's second by a 7-0 vote. AHFC-1. Approval of minutes for Austin Housing Finance Corporation Special Called Meeting of December 14, 2001. The minutes of the Austin Housing Finance Corporation Special Called Meeting of December 14,2000 were approved. AHFC-2, Approve a Resolution to convert the entire $23 million private activity volume cap bond authority received on January 16, 2001 from the Texas Bond Review Board into a 20% Mortgage Credit Certificate Program to provide an estimated $28,750,000 in mortgage assistance to eligible first-time homebuyers through a program emphasizing assistance for A.I.S.D. and City of Austin employees. Resolution No. 010322-2 was approved. AHFC-3. Approve a Resolution to elect a Secretary/Treasurer to the Austin Housing Finance Corporation for a term expiring June 15,2003. Resolution No. 010322-3 was approved. AHFC-4. Approve a Resolution to appoint two members to the Board of Directors of the Austin Inner City Redevelopment Corporation, a 501 C 4 corporation which oversees the Scattered Cooperative Infill housing program (SCIP 1) Heritage Heights Low Income Housing Tax Credit Project. Action on this item was deferred indefinitely. The motion to adjourn the meeting at 3:39 p.m. was approved on Board Member Griffith's motion, Board Member Wynn's second by a 7-0 vote. The minutes for the Austin Housing Finance Corporation Special Called Meeting of March 22, 2001 were approved on April 19,2001.