RUSTIN HOUSING FINRNCE CORPORHTION Board of Directors; Gus Garcia, President Jackie Goodman, Vice President Raul Alvarez, Director Danny Thomas, Director Betty Dunkerley, Director Will Wynn, Director Daryl Slusher, Director Toby Futrell, General Manager Shirley Brown, Assistant Secretary Sedora Jefferson, General Counsel BOARD OF DIRECTORS' MEETING AUSTIN HOUSING FINANCE CORPORATION SPECIAL CALLED MEETING MINUTES THURSDAY, JULY 11,2002 The Board of Directors of the Austin Housing Finance Corporation (AHFC) was convened on Thursday, July 11, 2002 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. President Garcia called the meeting to order at 2:29 p.m. AHFC-1. Approval of minutes for Austin Housing Finance Corporation Special Called Meeting of June 27,2002. The minutes for the Austin Housing Finance Corporation Special Called Meeting of June 27,2002 were approved on Vice President Goodman's motion, Board Member Dunkerley's second by a 7-0 vote. AHFC-2 Amend the Austin Housing Finance Corporation 2001-2002 budget by increasing the Down Payment Assistance program line item by an amount equal to $330,875 and amending the 2001 -2002 agreement with the City of Austin by increasing the contract in an amount not to exceed $330,875, for a total contract amount not to exceed $13,149,919. (Funds are available in the HOME Year 10, Fiscal Year 2001-2002.) Ordinance No. 20020711-2 was approved on Board Member Thomas' motion, Board Member Alvarez' second on a 7-0 vote. The motion to adjourn the meeting at 2:30 p.m. was approved on Board Member Slusher's motion, President Garcia's second on 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