flUSTIN HOUSING FINRNCE CORPORRTION 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 Futretl, General Manager Shirley Brown, Assistant Secretary Sedora Jefferson, General Counsel BOARD OF DIRECTORS' MEETING AUSTIN HOUSING FINANCE CORPORATION SPECIAL CALLED MEETING MINUTES THURSDAY, OCTOBER 10,2002 The Board of Directors of the Austin Housing Finance Corporation (AHFC) was convened on Thursday, October 10, 2002 in the Main Room at the South Austin Senior Activity Center, 3911 Manchaca Road. The following were the AHFC items considered by the Austin Housing Finance Corporation's Board of Directors. President Garcia called the meeting to order at 3:47 p.m. AHFC-1. Approval of minutes for Austin Housing Finance Corporation Special Called Meeting of October 3, 2002. The minutes for the Austin Housing Finance Corporation Special Called Meeting of October 3,2002 were approved on Board Member Alvarez's motion, Board Member Dunkerley's second on a 6-0 vote. Council Member Thomas was off the dais. AHFC-2. Approve an inducement resolution for a multi-family housing project known as Villas on Sixth Street, located at 1900 Block of East 6th Street, to be owned by a newly created Texas limited Partnership associated with Campbell-Hogue & Associates, Inc., for bond financing in an amount not to exceed $10,547,000, to be submitted through the Austin Housing Finance Corporation for participation in the Texas Bond Review Board multi-family lottery for allocation of Private Activity Volume Cap authority that will be held October 31,2002. (Each applicant pays their own application fee directly to the Texas Bond Review Board.) Resolution No. 2002-1010-2 was approved on Board Member SI usher's motion, Board Member Dunkerley's second on a 7-0 vote. AHFC-3. Approve an inducement resolution for a multi-family housing project known as the Fallwell Apartments, located at 3200 block of Interport Lane at Highway 71, to be owned by a to-be-formed limited partnership sponsored by SGI, Ventures, Inc. for bond financing in an amount not to exceed $15,000,000, to be submitted through the Austin Housing Finance Corporation for participation in the Texas Bond Review Board multi-family lottery for allocation of Private Activity Volume Cap authority that will be held October 31,2002. (Each applicant pays their own application fee directly to the Texas Bond Review Board.) Resolution No. 2002-1010-3 was approved on Board Member Slusher's motion, Board Member Dunkerley'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 AHFC-4 Approve an inducement resolution for a multi-family housing project known as InterPort Apartments, located at 3200 block of Interport Lane at Highway 71, to be owned by a to-be-formed limited partnership sponsored by SGI, Ventures, Inc for bond financing in an amount not to exceed $15,000,000, to be submitted through the Austin Housing Finance Corporation for participation in the Texas Bond Review Board multi-family lottery for allocation of Private Activity Volume Cap authority that will be held October 31,2002. (Each applicant pays their own application fee directly to the Texas Bond Review Board.) Resolution No. 2002-1010-4 was approved on Board Member Slusher's motion, Board Member Dunkerley's second on a 7-0 vote. AHFC-5 Approve an inducement resolution for a multi-family housing project known as Trickey Apartments, located at 3200 block of Interport Lane at Highway 71, to be owned by a to-be-formed limited partnership sponsored by SGI, Ventures, Inc. for bond financing in an amount not to exceed $ 15,000,000, to be submitted through the Austin Housing Finance Corporation for participation in the Texas Bond Review Board multi-family lottery for allocation of Private Activity Volume Cap authority that will be held October 31, 2002. (Each applicant pays their own application fee directly to the Texas Bond Review Board.) Resolution No. 2002-1010-5 was approved on Board Member Slusher's motion, Board Member Dunkerley's second on a 7-0 vote. AHFC-6 Approve an inducement resolution for a multi-family housing project known as Travis Park Apartments, located at 1110 East Oltorf Dr., to be owned by a to-be- formed limited partnership sponsored by Pacific American Properties, Inc. for bond financing in an amount not to exceed $8,999,000, to be submitted through the Austin Housing Finance Corporation for participation in the Texas Bond Review Board multi-family lottery for allocation of Private Activity Volume Cap authority that will be held October 31, 2002. (Each applicant pays their own application fee directly to the Texas Bond Review Board.) Resolution No. 2002-1010-6 was approved on Board Member Slusher's motion, Board Member Dunkerley's second on a 7-0 vote. The motion to adjourn the meeting at 4:11 p.m. was approved on Board Member Slusher's motion, Vice President Goodman's second on a 7-0 vote. The minutes for the Austin Housing Finance Corporation Special Called Meeting of October 10, 2002 were approved on Board Member Slusher's motion, Board Member Wynn's second on a 4-0 vote. Vice President Goodman and Board Members Alvarez and Dunkerley were off the dais. 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