Memorandum

City of Lawrence

Planning and Development Services

TO:	Diane Stoddard, Interim City Manager
FROM:	Danelle Dresslar, Community Development Manager, Planning and Development Services
CC:	Scott McCullough, Director, Planning and Development Services
DATE:	January 6, 2016
RE:	Mortgage Release

Background:

The following individual(s) participated in a Community Development Division loan program. 

1) Steven and Brandi Stauffer, 723 Walnut Street, participated in the Homeowners Out of Tenants Program in 2005.

2) Javan P. Poly and Jenny S. Poly, 1300 Fair Lane, participated in the Emergency Loan Program in 2015.

3) Delores Bryant, 865 Lyon Street, participated in the Emergency Loan Program in 1988.

Based on the program the individual(s) participated in, a mortgage was placed on the property.  The balance is due when the property is no longer owner-occupied, however individuals have the option to pay off the loan at any time.  Staff has determined that all of the required monthly payments have been received for the above loan(s) that have resulted in a zero balance due to the City.

Staff Recommendation:

The mortgage provisions have been satisfied and the mortgage(s) should be released.

Action:

Authorize the Mayor to sign the Release of Mortgage for Steven and Brandi Stauffer, 723 Walnut Street.

Authorize the Mayor to sign the Release of Mortgage for Javan P. Poly and Jenny S. Poly, 1300 Fair Lane.

Authorize the Mayor to sign the Release of Mortgage for Delores Bryant, 865 Lyon Street.

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