AGENDA MEMORANDUM

 

 

Meeting Date:           June 12, 2006

 

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

 

Subject:                      Resolution approving a Satisfaction of Mortgage for a Housing Rehabilitation Program Deferred Payment Loan Agreement for Ms. Mary Lee Atkins

 

 

Staff Recommendation:

Staff recommends approval of the Satisfaction of Mortgage and acknowledgement ofe full payment of said note for Ms. Mary Lee Atkins.

 

Analysis:

Ms. Atkins received a Community Development Block Grant (CDBG) Rehabilitation Program Deferred Payment Loan of $9,240.00 on January 8, 2001.  Ms. Atkins was awarded the funding to rehabilitate her home based on program criteria and a commitment to stay in the home during the five-5 year deferment period.

 

Subsequently, the loan period ended January 8, 2006.  Therefore, Ms Atkins’s family is requesting a sSatisfaction of mMortgage.  Staff has determined that the loan obligations have been fulfilled.

 

Options:

1.  Approve the Rresolution accepting the Satisfaction of Mortgage; or

2.  Such alternative action as the Commission may deem appropriate

 

 

Fiscal Impact

None

 

 

Submission Date and Time:    6/12/2006 12:56 PM6/7/2006 2:45 PM6/5/2006 9:49 AM6/2/2006 10:38 AM6/1/2006 11:52 AM5/16/2006 12:17 PM____

 

Department: Housing & Eco Dev

Prepared by:  Tracie Hodge                     

Attachments:         Yes_X__   No ______

Advertised:   ____Not Required _X____                     

Dates:   __________________________                     

Attorney Review :       Yes___  No ____

                                                

_________________________________           

Revised 6/10/04

 

Reviewed by: Dept. Head ________

 

Finance  Dept. __________________                                     

                              

Deputy C.M. ___________________                                                                         

Submitted by:

City Manager _________RS__________

 

Account No. _________________

 

Project No. ___________________

 

WF No. ______________________

 

Budget  ______________________

 

Available _____________________


 

RESOLUTION NO._______________

 

A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE AN AGREEMENT WITH MARY LEE ATKINS TO PROVIDE A SATISFACTION OF MORTGAGE TO MARY LEE ATKINS FOR THE MORTGAGE GIVEN TO SECURE A HOUSING REHABILITATION LOAN; 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 n agreement  with Mary Satisfaction of Mortgage Agreement in the form attached as Exhibit “A” to this Resolution, pertaining to a Housing Rehabilitation Loan dated June 8, 2001 with Mary Lee Atkins whose address is 1009 Ferguson Street, Leesburg,  for Satisfaction of Mortgage  (give the bid or RFP number if applicable, Florida and acknowledging payment in full, and,.

 

             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 12th day of June 2006

 

 

 

                                                                            __________________________

                                                                             Mayor

 

ATTEST:

 

 

__________________________

City Clerk