Staff recommends approval of the Satisfaction of Mortgage for Ms. Grace Mitchem and acknowledges full payment of said note.
Ms. Grace Mitchem received a Community Development Block Grant (CDBG) Rehabilitation Program Deferred Payment Loan of $48,205.00 on May 16, 2001. Ms. Mitchem 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. Mitchem has fulfilled this commitment.
1. Approve the 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_X__ No ____
Reviewed by: Dept. Head ________
Finance Dept. __________________
Deputy C.M. ______EFS__________
City Manager ___________________
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 GRACE MITCHEM 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 an agreement with Gracie Mitchem whose address is 223 South East Street, 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 March 2009.