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 Satisfaction of a Housing Rehabilitation Program Deferred Payment Loan Agreement for Ms. Marian E. Whitehead

 

 

Staff Recommendation: 

Staff recommends the City Commission approveal of the Satisfaction of Mortgage and acknowledge full payment of said note.

 

Analysis: 

Ms. Marian E. Whitehead received a Community Development Block Grant (CDBG) Rehabilitation Program Deferred Payment Loan of $9,808.00 on March 14, 2001.  Ms Whitehead 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 March 14, 2006.  Therefore, Ms. Whitehead’s family is requesting a satisfaction of mortgage.  Staff has determined that the loan obligations have been fulfilled.

 

 

Options:

1.  Approve Resolution 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 2:49 PM6/2/2006 2:42 PM6/2/2006 11:43 AM6/2/2006 10:27 AM6/1/2006 11:59 AM5/31/2006 6:39 PM____

 

Department: Housing & Econ 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 A N AGREEMENT WITH SATISFACTION OF MORTGAGE TO MARIAN E. WHITEHEAD TO PROVIDE A SATISFACTION OFFOR A MORTGAGE GIVEN TO SECURE A HOUSING REHABILITATION LOAN; AND PROVIDING AN EFFECTIVE DATE.  (wait to hear from K. Thomas before changing title)

 

 

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 agreementSatisfaction of Mortgage  withfor Marian E. Whitehead,  whose address is 1305 Seminole Avenue, Leesburg, FL  34748, for the purpose of satisfying a mortgage given to secure a housing rehabilitation loanand acknowledging full payment, 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