APPROVED / 06-22-2010

TOWN OF ENFIELD

LOAN REVIEW COMMITTEE

MINUTES OF MAY 18, 2010

VILLAGE CENTER / CONFERENCE ROOM

________________________________________________________________________

ADMINISTRATIVE ITEMS

Members Present:    

Jason Jones, Chairman

Jennifer Casalone

William Edgar

Brandon Messenger

Staff Members Present:

Peter Bryanton

Richard Metcalf

Roll Call:  A Special Meeting was called to order at 6:00 p.m. to hear the FTHB application at 120 Spring Street.

OLD BUSINESS

120 Spring Street:  For the meeting Ms. Deleon produced 2 notarized letters, one for the lease agreement for the tenant, and one stating that she would be the only person living in her unit for at least 1 year.  She also produced pay stubs showing that she had worked 40 hours for the last 2 pay periods.  Mr. Jones asked if Ms. Deleon had a plan in the event that repairs had to be made on the tenant's unit.  Her response was that she currently had about $1,500 in the bank, and that her boyfriend would help her with home repairs if necessary.  There was a long discussion about Ms. Deleon being prepared to be a new property owner and a landlord.  A few of the members questioned if she was ready to handle those responsibilities. 

After several of questions and comments, a motion was made by Ms. Casalone to approve the homebuyer loan.  No amount was specified.  The motion was seconded by Mr. Messenger, but failed to pass as the vote was 2 for and 2 against.  The members told the applicant that she was welcome to reapply after she had a chance to improve her financial situation, and suggested looking at other properties which may not require as many repairs and maintenance. 

ADJOURNMENT

A motion to adjourn the meeting was made by Ms. Casalone, seconded by Mr. Messenger, and passed unanimously.  Meeting adjourned at 6:50 p.m.

Submitted by:

Peter Bryanton, Director of Community Development

Approved by:

Jason Jones, LRC Chairman

Signature: _______________________________________  Date: __________________