Regular Meeting of the
Southern California Home Financing Authority
AGENDA FOR THE REGULAR MEETING OF THE SOUTHERN CALIFORNIA HOME FINANCING AUTHORITY
December 6, 2021 2:00 P.M.
LOS ANGELES COUNTY DEVELOPMENT AUTHORITY
700 WEST MAIN ST.
EXECUTIVE OFFICE CONFERENCE ROOM
ALHAMBRA, CA 91801
AND
COUNTY OF ORANGE
HALL OF ADMINISTRATION – ROOM 169
333 W. SANTA ANA BLVD.
SANTA ANA, CA 92701
MICROSOFT TEAMS CALL-IN NUMBER
(747) 200-6721
Participant Code – 792 016 930#
The hearing will be conducted pursuant to the provisions of California Executive Order 29‑20, which suspends certain requirements of the Ralph M. Brown Act. During the current State of Emergency and in the interests of public health and safety, the hearing will be conducted by teleconference. We are providing alternatives to in-person attendance for participating in the hearing.
1. Call to Order
2. Roll Call
Emilio Salas, Chair’s Designee
Suzanne Luster, Vice Chair’s Designee
Matt Fortini, Treasurer/Auditor
Lynn Katano, Executive Coordinator
Kai Porter, Secretary
3. Reading and Approval of Minutes of Previous Meeting
February 24, 2020 Regular Meeting of the Board.
4. To Appoint or Re-appoint Board Officers for the Authority
Section 13 of the by-laws established October 5, 2010 requires the Board to nominate and appoint officers at the first regular meeting each calendar year.
Recommendation: Nominate and appoint Lynn Katano as Executive Coordinator and Kai Porter as Secretary.
5. Turnkey Plus First Mortgage Program Update
On August 15, 2019, the Turnkey Plus First Mortgage Program was proposed.
Recommendation: It is recommended that further consideration of the proposed Turnkey Plus First Mortgage Program be concluded due to the program’s inability to add value in the current market.
6. First Home Mortgage Program
Due to inactivity for the past two years, the loan servicer, US Bank, will no longer be funding this program.
Recommendation: It is recommended that the First Home Mortgage Program be terminated, due to lack of demand, and authorize the taking of all actions necessary to terminate the program.
7. Presentation of SCHFA’s Balance of Accounts Summary
Treasurer/Auditor to present overview of the Balance of Accounts Summary as of September 30, 2021.
8. Request to Withdraw Funds by the County of Orange
Discuss the withdrawal of $2,800,000 of unrestricted funds by the County of Orange for use in their Housing Funding Strategy.
9. Public Comments
Hilda L. Solis, Chair
Southern California Home Financing Authority
By: ___Kai Porter_______
Secretary