Jim Butler

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  talhfa.org/Contact%20Us!.htm - [Cached Version]
  Published on: 9/12/2009    Last Visited: 9/12/2009  

  Jim Butler
  
  Odessa Housing Finance Corporation
  
  3801 N. Dixie Blvd Odessa, TX 79762-6827
  
  Ph: (432) 362-2349 Fx: (432) 362-4200
  
  jlbohfc@netwest.com

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  www.oaoa.com/news/nw030707b.htm - [Cached Version]
  Published on: 3/7/2007    Last Visited: 3/7/2007  

  James L. Butler, executive director of the Odessa Housing Finance Corp. and a board member of the Texas Association of Local Finance Housing Agencies, said Odessa "was a landslide winner" for the TALFA convention site in October 2010.When an opening came up in the group's convention schedule, Odessa was competing with Bryan-College Station and Beaumont for the 2010 event.However, Butler said, after a presentation was made by Thorn and a representative of the Eleganté Hotel, Odessa won hands down.
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  "We made an impression when the TALFA convention was held here in 1999," Butler said, "and the word has kind of gotten out to them since then that if you weren't here you don't know what you missed."

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  08 Issuers - [Cached Version]
  Published on: 9/12/2009    Last Visited: 9/12/2009  

  James L. Butler 3801 N Dixie Blvd. Odessa, TX 79762 Ph: (432) 362-2349 Fx: (432) 362-4200

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  Mortgage News Sep 2006: mortgage refinancing, home... - [Cached Version]
  Published on: 9/1/2006    Last Visited: 3/29/2009  

  Jim Butler, executive director of the Odessa Housing Finance Corp., stands at a lot in the 2700 Block of West Fifth Street where two houses are in the construction and near completion phases. ( Mon, 25 Sep 2006 12:12:23 GMT)

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  OA Online News - [Cached Version]
  Published on: 10/12/2005    Last Visited: 10/12/2005  

  "We're in the price range of homes that the for-profit housing developers are not interested in developing right now," Jim Butler, executive director of the Odessa Housing Finance Corp., said.And hopefully by working with ECISD, the nonprofit housing corporation can create a win-win deal, he said."Hopefully we'll end up with a quality home at less cost than with regular construction contractors - they've got free students labor, and they're not putting any markup in it," Butler said.Butler said the students would provide 75 to 80 percent of the labor for the house."They're providing labor that the students can do," he said.

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  OA Online News - [Cached Version]
  Published on: 1/29/2003    Last Visited: 1/29/2003  

  Members of the chamber's housing committee met last week and agreed the housing situation is a "big issue," said Jim Butler, committee member and executive director of the Odessa Housing Finance Corp."We're concerned about the citizens of Odessa, and with all the economic development success, we need to keep the new people in Odessa," Butler said.The Odessa housing market is being scrutinized more with the development of the mammoth Family Dollar distribution center.
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  Members of the housing committee include Morton, Butler, McDonald, Kirk Edwards, Raymond Chavez, Fred Crawford, Jane Hext and Mike George.

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  OA Online News - [Cached Version]
  Published on: 4/7/2002    Last Visited: 4/8/2002  

  All are valued at $60,000 or less, said Jim Butler, executive director of OHFC."We have four prospects being looked at by lenders," Butler said."It's just a matter of when lenders get them approved.Hopefully, we will have one to two houses sold at the end of this month."
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  The construction of modestly priced homes is what the nonprofit OHFC has done since 1994, Butler said.Created in 1979, OHFC sold bonds to help finance first-time home purchases through traditional lenders such as First American Bank and Wells Fargo."The lenders get a little (money) on each loan they make; we don't get anything," said Butler, who was recently elected president of the Texas Association of Local Housing Finance Agencies board of directors.Since 1979, the government-sponsored loans have totaled $50.5 million for the purchase of 750 homes, Butler said.Seventy of those 750 homes were built by OHFC with bond proceeds.Every few years OHFC sells government-sponsored bonds to finance home loans and home construction for low-income people, Butler said.The last bond issuance was in 1997 for $10 million.Another bond issue could take place next year, Butler said.Butler said low-income people are defined as those making no more than 80 percent of the median annual salary in Odessa, or no more than about $33,000 a year.

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  OA Online News - [Cached Version]
  Published on: 9/22/2002    Last Visited: 9/22/2002  

  In-fill development, though, may not be the only way to go, and it's certainly not the most cost-effective method, according to Jim Butler, the executive director of the Odessa Housing Finance Corp.
  
  When working with in-fill, developers need to build one project at a time, deal with old, perhaps inoperable infrastructure and perhaps demolish vacant structures, he said.
  
  And although Butler says that, with limited resources and the needs of the community he would pursue multihome developments first, he does not deny the importance of in-fill projects.
  
  "The multihome developments are the most economical, and they're easier to market," Butler said."That's not to say we don't need to pursue in-fill projects, even though we might not be able to do that."
  
  Home buyers may not be keen on purchasing a house in an older neighborhood that may not be as safe and may even be more expensive, Butler says, not to mention that developers can produce multihome subdivisions very quickly and by purchasing materials in bulk - which drives down the price.
  
  Butler poses this hypothetical to clarify:
  
  "Are you going to feel more comfortable buying a new home in a new neighborhood or are you going to feel more comfortable buying a new home around others that were built in the 1950s?"he asks."The older homes are going to diminish the value of your house."
  
  Butler, though, is quick to say that Odessa would do well to embark on both types of development because both will satisfy important housing needs.
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  Ultimately, the question of what kind of housing development to pursue is a matter of finances, Butler says.
  
  The community ought to pursue what it can afford, and provide the most product to the most people, he says.So despite the benefits of in-fill projects, conventional development initially should be the way to go.
  
  "We just don't have enough money to take care of that, quite frankly," he said.
  
  Dispelling the Myths
  
  Other research has been done on the effects of in-fill development instead of traditional home subdivisions.American Farmland Trust, a nonprofit organization dedicated to preserving U.S. farmland and wildlife, did a study in Hays County just south of Austin.

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  OA Online News - [Cached Version]
  Published on: 6/7/2002    Last Visited: 6/7/2002  

  Though eight of the $60,000 homes have already been purchased, five remain on the market, said Jim Butler, executive director of the Odessa Housing Finance Corp., the nonprofit that used federal dollars to build the homes.Each of the 13 brick homes has three bedrooms, two bathrooms and is approximately 1,300 square feet in size.
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  With the completion of the 13 homes on Wednesday, OHFC has now built 80 homes since 1994, Butler said.In addition to building homes, OHFC sells government bonds to help finance first-time home purchases through traditional lenders such as First American Bank and Wells Fargo."The lenders get a little (money) on each loan they make; we don't get anything," Butler said.Since 1979, the government-sponsored loans have totaled $50.5 million for the purchase of 763 homes, Butler said.Eighty of those 750 homes were built by OHFC with bond proceeds.Every few years OHFC sells government-sponsored bonds to finance home loans and home construction for low-income people, Butler said. The last bond issuance was in 1997 for $10 million.Another bond issue could take place next year, Butler said.State Rep.
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  Those interested in buying one of the five remaining homes can contact Michael Marrero at the city of Odessa at 335-4820 or Jim Butler at OHFC, 362-2349.

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  OA Online News - [Cached Version]
  Published on: 5/30/2002    Last Visited: 5/30/2002  

  Though eight of the $60,000 homes have already been purchased, five remain on the market, said Jim Butler, executive director of the Odessa Housing Finance Corp., the nonprofit that used federal dollars to build the homes.Each of the 13 brick homes has three bedrooms, two bathrooms and is approximately 1,300 square feet in size.
  ...
  With the completion of the 13 homes on Wednesday, OHFC has now built 80 homes since 1994, Butler said.In addition to building homes, OHFC sells government bonds to help finance first-time home purchases through traditional lenders such as First American Bank and Wells Fargo."The lenders get a little (money) on each loan they make; we don't get anything," Butler said.Since 1979, the government-sponsored loans have totaled $50.5 million for the purchase of 763 homes, Butler said.Eighty of those 750 homes were built by OHFC with bond proceeds.Every few years OHFC sells government-sponsored bonds to finance home loans and home construction for low-income people, Butler said. The last bond issuance was in 1997 for $10 million.Another bond issue could take place next year, Butler said.State Rep.
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  Those interested in buying one of the five remaining homes can contact Michael Marrero at the city of Odessa at 335-4820 or Jim Butler at OHFC, 362-2349.

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