AGENDA MEMORANDUM

 

 

Meeting Date:           March 9, 2009

 

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. Emma Johnson

 

 

Staff Recommendation:

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

 

Analysis:

Ms. Emma Johnson received a Community Development Block Grant (CDBG) Rehabilitation Program Deferred Payment Loan of $45,705.00 on May 16, 2001.  Ms. Johnson 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. Johnson 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 EMMA JOHNSON 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 Emma Johnson whose address is 218 Indiana 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.

 

 

 

                                                                            __________________________

                                                                             Mayor

 

ATTEST:

 

 

__________________________

City Clerk