MEMORANDUM

City of Lawrence

Planning and Development Services Department

TO:              David L. Corliss, City Manager

THRU:                   Scott McCullough, Director, Planning and Development Services

FROM:         Margene K. Swarts, Interim Assistant Director, Development Services

DATE:            March 18, 2008

The following individuals participated in a Community Development Division loan program.  The City has been repaid and has agreed to release the Mortgage.

1) Odessa Collins, 400 Illinois, participated in the Emergency Program in 1994.

2) Phyllis Stone, 1808 W. 21^st Street, participated in the Comprehensive Rehabilitation Loan Program in 1993.

3) Chad Higbie, 1006 Home Circle, participated in the First Time Homebuyer’s Program in 1997.

4) Judy Nolly, 427 Country Club Court, participated in the Comprehensive Rehabilitation Loan Program in 1992.

The Community Development Division received a request for a Subordination Agreement for a Mortgage the City holds for a loan recipient.  The information regarding the request follows:

In September, 2002, Arthur Taylor, 2535 Belle Haven, participated in the Comprehensive Rehabilitation Loan program.  In order to participate in the program, he was required to sign a Mortgage and Mortgage Note to protect the City’s interest in the property.  Mr. Turner wishes to refinance his original mortgage.  In order to do this, the City must subordinate its mortgage to the new loan with University National Bank.  The City’s interest will be protected and staff recommends approval.

The City Clerk will have these documents ready for the Mayor's signature.  If you have further questions, please let me know.