AGENDA MEMORANDUM

 

 

Meeting Date:           January 8, 2007

 

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

                                    Ms. Hattie S. Cummings

 

 

Staff Recommendation:       

Staff recommends approval of the Satisfaction of Mortgage for Ms. Hattie S. Cummings and acknowledges full payment of said note.

 

Analysis:        

Ms. Cummings received a Community Development Block Grant (CDBG) Rehabilitation Program Deferred Payment Loan of $24,055.00  June 8, 2001.  Ms. Cummings was awarded the funding to rehabilitate her home based on program criteria and a commitment to stay in the home during the five-year deferment period.

 

Options:

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

2.  Such alternative action as the Commission may deem appropriate

 

Fiscal Impact

None

 

 

 

Submission Date and Time:    1/5/2007 2:39 PM1/3/2007 3:13 PM____

 

Department: Housing & Economic Dev.

Prepared by:  Tracie Hodge  

Attachments:         Yes____   No ______

Advertised:   ____Not Required __X__                     

Dates:   __________________________                      

Attorney Review :       Yes_X__  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 SATISFACTION OF MORTGAGE FOR HATTIE S. CUMMINGS 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 Hattie S. Cummings whose address is 808 East Magnolia 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 8th day of January 2007.

 

 

 

                                                                            __________________________

                                                                             Mayor

 

ATTEST:

 

 

__________________________

City Clerk