Staff recommends approval of the Satisfaction of Mortgage and acknowledges full payment of said note.
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.
1. Approve Resolution accepting the Satisfaction of Mortgage; or
2. Such alternative action as the Commission may deem appropriate
Department: Housing & Economic Dev
Prepared by: Tracie Hodge
Attachments: Yes X No ______
Advertised: ____Not Required X
Attorney Review : Yes___ No ____
Reviewed by: Dept. Head ________
Finance Dept. __wp________________
Deputy C.M. ___________________
City Manager _______RS____________
Account No. _________________
Project No. ___________________
WF 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.