AGENDA MEMORANDUM

Meeting Date: March 9, 2009

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

Subject:                      Resolution authorizing a Satisfaction of a Housing Rehabilitation Program Deferred Payment Loan Agreement for Ms. Ruthie Simmons

Staff Recommendation:

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

Analysis:

Ms. Ruthie Simmons received a Community Development Block Grant (CDBG) Rehabilitation Program Deferred Payment Loan of $6,870.00 on January 8, 2001.  Ms. Simmons 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. Simmons 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:    3/4/2009 3:31 PM____

Department: Housing & Economic Dev. Prepared by:  Tracie Hodge Attachments:         Yes_X___   No ______ Advertised:   ____Not Required ___X___ Dates:   __________________________                      Attorney Review :       Yes_X__  No ____ _________________________________            Revised 6/10/04

Reviewed by: Dept. Head ________ Finance  Dept. __________________                                    Deputy C.M. ____EFS____________                                          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 RUTHIE SIMMONS 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 Ruthie Simmons whose address is 1105 Stinson 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 9th day of March 2009.

                                                                            __________________________

                                                                             Mayor

ATTEST:

__________________________

City Clerk