AGENDA MEMORANDUM

Meeting Date: February 9, 2009

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

Subject:                      Resolution authorizing executing a Satisfaction of a Housing Rehabilitation Program Deferred Payment Loan Agreement for Ms. Lena Scott

Staff Recommendation:

Staff recommends approval of the Satisfaction of Mortgage for Ms. Lena Scott and acknowledges full payment of said note.

Analysis:

Ms. Lena Scott received a Community Development Block Grant (CDBG) Rehabilitation Program Deferred Payment Loan of $31,068.80 December 1, 2000.  Ms. Lena Scott 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.  Ms. Scott has fulfilled this commitment.

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:    2/5/2009 9:45 AM____

Department: Housing & Economic Dev Prepared by:  Tracie Hodge _____                      Attachments:         Yes____   No ______ Advertised:   ____Not Required __X____ Dates:   __________________________                      Attorney Review :       Yes___  No ____ _________________________________            Revised 6/10/04

Reviewed by: Dept. Head ________ Finance  Dept. ___________JB_____                                    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 LENA SCOTT 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 Lena Scott whose address is 2116 Parkview Avenue, Leesburg, FL  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 9th day of February 2009.

                                                                            __________________________

                                                                             Mayor

ATTEST:

__________________________

City Clerk