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:            December 22, 2008

The following individual participated in a Community Development Division loan program.  The primary loan as well as the City loan was foreclosed and Tenants to Homeowners, Inc. purchased the property at the foreclosure sale.  Their intent is to put the property into the Community Land Trust program, thus preserving long term affordability and protecting the City’s interest in the property.  As part of this agreement, the City has agreed to release the Mortgage to enable TTH to move forward with the project. 

1) Mir-Ali Habbibi-Pasdar, 2612 Moundview, participated in the First Time Homebuyer Program in 2002.

The following individual participated in a Community Development Division loan program.  The mortgage provisions have been satisfied and the mortgage should be released.  

2) Carlene Hadl, 2504 Century Drive, participated in the Emergency Loan Program in 1995.

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 2001, M. Allisa (Long) Hurst, 714 N. Michigan, 1504 E. 21^st Terrace, participated in the First Time Homebuyer 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. Hurst wishes to refinance the first mortgage at a lower interest rate.  In order to do this, the City must subordinate its mortgage to the new loan with Douglas County 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.