AGENDA MEMORANDUM

 

Meeting Date:           February 22, 2010

 

From:                          Kenneth L. Thomas, Director of Housing & Economic Development          

 

Subject:                      City of Leesburg Deed Transfer of the Housing & Urban Development (HUD) $1 Property to Rita Brown (First Time Homebuyer)

 

 

Staff Recommendation:

Staff recommends approval of the deed transfer agreement for the home at 803 Georgia Avenue, Leesburg, Florida to Rita Brown.

 

Analysis:

Ms. Rita Brown was the winner of the HUD $1 Home Give-a-Way held during December 2009.  Staff has finalized all documents required for the deed transfer and closing.  The property transfer to Ms. Brown, will have deed restrictions that will ensure the property remains as an Affordable Home, for Sale unit, with a selling restriction to repay the City of Leesburg, $48,000 (the value of the property), if sold, refinanced with cash-out, or used as collateral on any loan within 10 years.

 

Ms. Brown has been in pursuit of purchasing a home through our housing program for several years. She is truly a testament that hard work does payoff.  

 

Options:

  1. Approve the transfer of deed to Ms. Rita Brown; or

 

2.  Such alternative action as the Commission may deem appropriate.

 

Fiscal Impact

The City paid approximately $1,500.00 for closing costs, utilities, maintenance & cleaning of the subject property.

 

Submission Date and Time:    2/19/2010 10:07 AM____

Department: ______________________

Prepared by:  ______________________                     

Attachments:         Yes____   No ______

Advertised:   ____Not Required ______                     

Dates:   __________________________                     

Attorney Review :       Yes___  No ____

                                                

_________________________________           

Revised 6/10/04

 

Reviewed by: Dept. Head ________

 

Finance  Dept. __________JB______                                     

                              

Deputy C.M. ___________________                                                                         

Submitted by:

City Manager ___________________

 

Account No. _001-6255-554-xxxx__

 

Project No. __$HOUSE________

 

WF No. ______________________

 

Budget  ______________________

 

Available _____________________


 

RESOLUTION NO._______________

 

RESOLUTION OF THE CITY COMMISSION OF THE CITY  OF LEESBURG AUTHORIZING THE MAYOR AND THE CITY CLERK TO EXECUTE A SPECIAL WARRANTY DEED TO  TRANSFER OWNERSHIP OF PROPERTY AT 803 GEORGIA AVENUE LEESBURG, FLORIDA, TO RITA BROWN, THE WINNER OF THE HUD $1 HOME GIVE-A WAY; AND PROVIDING AN EFFECTIVE DATE.

 

BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:

 

            THAT the Mayor and City Clerk are hereby authorized to execute a Special Warranty Deed transfer ownership of property owned by the City of Leesburg located at 803 Georgia Avenue, Leesburg, Florida 34748, to Rita Brown, whose address is 1132 Ben More Drive, Leesburg, Florida 34788.

 

             THAT this resolution shall become effective immediately.

 

PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the _22nd____ day of _February____, 2010

 

 

 

                                                                            __________________________________

                                                                             Mayor

 

ATTEST:

 

 

____________________________________

City Clerk