AGENDA MEMORANDUM

 

 

Meeting Date:           December 11, 2006

 

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

 

Subject:                      Resolution authorizing execution of a Satisfaction of a Housing Rehabilitation Program Deferred Payment Loan Agreement for

                                    Mr. Tommie and Mrs. Leola Jordan

 

 

Staff Recommendation:       

Staff recommends approval of the Satisfaction of Mortgage and acknowledges full payment of said note.

 

Analysis:        

Mr. and Mrs. Jordan received a Community Development Block Grant (CDBG) Rehabilitation Program Deferred Payment Loan of $3,650.00 on April 3, 1995.  Mr. and Mrs. Jordan were awarded the funding to rehabilitate their home based on program criteria and a commitment to stay in the home during the 3 year deferment period.

 

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:    12/6/2006 4:46 PM____

 

Department: Housing & Economic 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. __wp________________                                     

                              

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 SATISFACTION OF MORTGAGE FOR TOMMIE AND LEOLA JORDAN FOR THE PURPOSE OF SATISFYING A 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 Satisfaction of Mortgage for    Tommie and Leola Jordan whose address is 1002 June Drive, 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 11th day of December 2006.

 

 

 

                                                                            __________________________

                                                                             Mayor

 

ATTEST:

 

 

__________________________

City Clerk