| The El Paso Housing Finance Corporation (HFC) is an independent
entity, created pursuant to the Housing Finance Corporation
Act by the City Council as a non profit corporation and has
been in existence since 1979. The statutory purpose of this
type of corporation is to assist persons of low and moderate
income to acquire and own decent, safe, sanitary, and affordable
housing and to preserve and increase the tax base of local government.
To this end, the El Paso HFC is dedicated to promoting local
homeownership and housing opportunity for low and moderate income
families. The HFC is governed by a board of directors appointed
by the Mayor and City Council, and has an executive director
who manages its operations. The HFC achieves its purpose primarily
by issuing tax-free mortgage revenue bonds which make mortgage
loans available to qualified borrowers at favorable rates to
encourage home ownership in El Paso. The program functions through
a number of lenders in the City.
The El Paso HFC also has the ability to issue bonds for the
financing of multifamily projects.
In addition to loans at a favorable rate, the HFC’s current program
provides incentives for first time homeowners and for residential revitalization
in certain areas of the City. These incentives can take the form of down
payment and closing cost assistance.
HFC Board Members
The current seven member board of the HFC consists of:
City Rep. Susie Byrd, President.
Michael Bray, Vice President
Elizabeth Moya Quinn, Treasurer
Robert Warach, Secretary
Robert Ash, Assistant Secretary
Vivian Rojas, Director
Charles Vinson, Esq., Director
The General Counsel to the HFC
is Norman Gordon, Esq., of Mounce, Green, Myers, Safi & Galatzan.
The financial advisor is First Southwest Company. The Bond Counsel is Delgado, Acosta,
Braden & Jones, P.C.
HFC Contact Information
El Paso Housing Finance Corporation
Executive Director: Adrian Duran
Office Location: City Hall 2nd Floor
Office Telephone #: (915)541-4476
Fax #: (915) 541-4397
E-mail: duranax@elpasotexas.gov
|
print-version