AGENDA MEMORANDUM

Meeting Date:           July 24, 2006

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

Subject:                      Resolution authorizing the Mayor and City Clerk to execute a Satisfaction of a Housing Rehabilitation Program Deferred Payment Loan Agreement for Mr. Booker & Mrs. Daisy Williams

Staff Recommendation:       

Staff recommends the City Commission approve the Resolution authorizing the Mayor and City Clerk to execute a Satisfaction of Mortgage and acknowledge full payment of said note.

Analysis:        

Mr. Booker & Mrs. Daisy Williams received a Community Development Block Grant (CDBG) Rehabilitation Program Deferred Payment Loan Of $46,105.00 on March 14, 2001.  Mr. & Mrs. Williams were awarded the funding to rehabilitate their home based on program criteria and a commitment to stay in the home during the five-year deferment period.

Options:

1.  Approve Resolution authorizing execution of the Satisfaction of Mortgage; or

2.  Such alternative action as the Commission may deem appropriate

Fiscal Impact: 

None

Submission Date and Time:    7/21/2006 4:26 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 ___________________

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 SATISFACTION OF MORTGAGE FOR THE MORTAGE GIVEN TO BOOKER & DAISY WILLIAMS 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 Satisfaction of Mortgage to Mr. Booker & Mrs. Daisy Williams, whose address is 1012 McNamee Street, Leesburg, Florida 34748, for the purpose of satisfying a mortgage given to secure a housing rehabilitation loan.

 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 24th day of July 2006.

                                                                            __________________________

                                                                             Mayor

ATTEST:

__________________________

City Clerk