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, Assistant Director, Development Services

DATE:            July 2, 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) Mary Kring, 933 Missouri, participated in the Emergency Program in 2001.

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 January, 1999, Jill Jevens, 1301 Prospect Avenue, participated in the First Time Homebuyers Loan program.  In order to participate in the program, she was required to sign a Mortgage and Mortgage Note to protect the City’s interest in the property.  Ms. Jevens wishes establish a second mortgage equity loan.  In order to do this, the City must subordinate its mortgage to the new loan with KU Credit Union.  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.