MEMORANDUM

City of Lawrence

Planning and Development Services Department

TO:              David L. Corliss, City Manager

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

CC:              Scott McCullough, Director, Planning and Development Services

DATE:           January 4, 2011

RE:              Mortgage Release/Subordination Agreement

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

1) David and Jennifer Unekis, 707 W. 4^th Street, participated in the Furnace Loan Program in 2010.

2) The Pelathe Community Resource Center, Inc., f/k/a Indian Center of Lawrence, 1423 Haskell Avenue, participated in a Community Development Loan Project in 2003.  

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

The City has a lien agreement with Tenants to Homeowners, Inc. and Jenifer Janousek, for the property at 501 Lancaster Court through the Lawrence Community Housing Trust Program.  Ms. Janousek wishes to refinance her primary mortgage and Tenants to Homeowners, Inc. has agreed.  In order to do this, the City must subordinate the lien 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.