flUSTIN HOUSING FINflNCE CORPORflTION Board of Directors: Kirk Watson, President Jackie Goodman, Vice President Raul Alvarez, Director Wilt Wynn, Director Daryl Slusher, Director Jesus Garza, General Manager Betty Dunkerley, Secretary Sedora Jefferson, General Counsel BOARD OF DIRECTORS' MEETING AUSTIN HOUSING FINANCE CORPORATION MINUTES THURSDAY, AUGUST 23,2001 The Board of Directors of the Austin Housing Finance Corporation (AHFC) was convened at 3:37 p.m. on Thursday, August 23, 2001 in the Hancock Building Board Room at the Lower Colorado River Authority, 3700 Lake Austin Blvd. The following agenda were the AHFC items considered by the Austin Housing Finance Corporation's Board of Directors. AHFC-1. Approval of minutes for Austin Housing Finance Corporation Special Called Meeting of August 2, 2001. The minutes for the Austin Housing Corporation Special Called Meeting of August 2, 2001 were approved on Vice President Goodman's motion, Board Member Wynn's second by a 7-0 vote. AHFC-2. Approve a resolution authorizing the negotiation and execution of a loan with Devonshire Partners in an amount not to exceed $290,000 for the purpose of repairing infrastructure in a 45-unit subdivision located in the northeast Austin area, in order to build 45 new single-family homes under the S.M.A.R.T. Housing standards. Resolution No. 2001-0823-02 was approved on Board Member Thomas' motion, Vice President Goodman's second by a 7-0 vote. The motion to adjourn the meeting at 3:44 p.m. was approved on Board Member Griffith's motion, Board Member Slusher's second by a 7-0 vote. CORPORATE OFFICES. 505 Barton Springs Rd. Suite 600. Austin. TX 78704 (512^ 974-3103 OFFICE OF CORPORATE COUNSEL, 114 West 7th Street, Austin, TX. 78701(512) 974-2268