Newspaper Archive of
Hays Free Press
Kyle, Texas
September 29, 2010     Hays Free Press
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September 29, 2010

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+ CLASSIFIEDS PUBLIC NOTICES SERVICE DIRECTORY September 29, 2010 Page 1D Almost since it was completed in 1961, Interstate 35 through Hays County has undergone constant revision. More than $38.6 million in projects are either underway today or scheduled for start within a year. o,,,.0us, !i g OVERPASS AT MAI STR rentersa befre' Manycurrentare former owners ~~~t ~~iuc~iii:nderpass t fur! il '~ ~ who faced the foreclosure of their home or experienced other financial problems. These renters are now OF living in what they consider klL to be temporary housing, .~ waiting for the opportunity to again purchase a home of their own. Some renters , I // are planning to remain in a ~ ~ rental unit indefi~Jtely, while -.~ ! . o., ~1 ,,,~ ,,~o ..... ~ ici! ) b most are eager to move into a newly purchased home. ~tO~t~ ~ ' ~ k i~ It might surprise some readers that the amount ~k~~ ~ ~, !- ~, ofmoney a renter spends ~,,. each month can be about ~ ~I~ ~ ~9 the same as or more than the amount a homeowner spends on a mortgage. With the tax benefit for home- owners, the savings can be significant. This was revealed in a recent report from Gin- nie Mae. A renter must expect annual increases of about 5 pere~rinmonthty rein, on ....... average. In a few years, this can bring the rent up to or beyond the level of principle and interest payments on a fixed-rate mortgage, espe- dally in today's market where interest rates are historically low. One big advantage of owning a home - in addition to pride of ownership- is the ongoing tax advantages. This includes the deduct- ibili .ty of interest payments and property taxes. Also, with each payment the balance of the amount owed declines. thus building equity in the property for the owners. Many families consider ownership of their home as their best saving program. In time, their equity can grow their capital worth to the point where they can acquire a more expensive step-up home. A lesser known benefit of home ownership relates to its effect on children. Several studies have pointed to the positive impact of owner- ship on the lives of kids in the household. They feel more secure and tend to be more serf-confident while living in a home owned by their fam- ily as opposed to living in a rental residence. What is Ginnie Mae? Ginnie Mae (Government National Mortgage Associa- ~ohn or GNMA) was estab- ed in 1968 to promote tibme ownership. As a wholly- owned government corpora- tion within the Department of Hous'mg and Urban Develop- ment (HUD), G'mnie Mae's mission is to expand afford- able housing in the United States by channeling global capital into the nation's hous- ing finance markets. The Ginnie Mae guarantee allows mortgage lenders to obtain a better price for their loans in the capital markets, according to W~pedia ency- clopedia. The council is recom- mending increasing resourc- es for staffing and technology to improve the FHA and the Government National Mort- gage Association (Ginnie Mae). The council consists of senior executives from 27 companies, representing both large national lenders and small independent mort- gage bankers. "FI-IA and Ginnie Mae are cornerstones of the U.S. housing market as they # , " i AT~RUCK OVERPASS AT DRY, HOLE RD, Suda CONNECT ACC ES EIOADS Construction of new three- ane _ge over intestate for ~ Robert S. Light Blvd, the Buda tr~ bypass. Kyle Started: June 2010 ~' "~;'~" Replace old bridge at Dry Hole and Windy Hills roads. Build Contractor: Capital Excavation Co. ,~. : frontage road where none exists between County Road 210 ContraCt amount: $5,848,033 and Kyle Parkway (1). Add turnaround at FM 1626. : Scheduled Completion: April 2011 '" Started: November 2009 ~ i Notes: Funded by American Recovery and Reinvest- Contractor: Hunter Industries (,~ : ment Act secured by Hays Co. Pct. 2 Commissioner Contract amount: $13,147,196 r~ :' Jeff Barton through Capital Area Metropolitan.planning Organization. ;i; Scheduled Completion: December 2011 Notes: Funded through Hays County voter-approved road jt[ bonds in 2008 with contributio~,{rom city of Kyle. (~ ~%~ CONVERSION OF FRONTAGE RECONS qUCTED ACCESS ROADS TO ONE-WAY TRAFFIC ROAD, Br TWEEN-" FM 1626, 1 50 In May, TxDOT converted frontage roads ir~ Buda to one- : ,~ way traffic -- from FM 2001 to Dry Hole Road on the west- Kyle side of the interstate and from FM 2001 to FM 1626 on the east side. Conversion of the access roads from FM 1626 Rebuild frontage road on west side of interstate, between ~ in I~)eto Yarrington Road at the Kyle-San Marcos bo~er is s~'~ to begin in 2012, afterFM 150 has beente- FM 1626 (Kyle Parkway) and FM 150 south of Center St. ~l aligned an6~J~e frontage road be~een-FM 1626 andFM Scheduled start: June 2011 Contractor: Hunter'ihdustries Pr~ 150 has been reconstructed~ . Contract amount: $8~689,492 ~ ,,,, '~~ / Scheduled completi~,o: September 20~2 r' '"- , ~ : ~J~ ~ ~ --~ . Notes: Funded throug~ ,I roacl'3"?~! bonds in 2008 with ~&~, RE-ALIGN 150 E "",~ KyIQ ~ Construct new, four-lane segment of FM 150 E to align the road with the FM 150 W overpass a~the interstate. Scheduled contract letting: June 2~ Contractor:. Not yet determined Contract amount: $1,591,271 Scheduled Completion: March 2012 provide access to mortgage t" ~ GOOGLE MAP ~ CAPITAL AREA COUNCIL OF GOVERNMENTS INFORMATION CLEARINGHOUS~ FREE PRESS GRAPHIC BY BRAD R O~IS pee OPEN HOUSE, pg. 4D )