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 26, 2016
RE:	Mortgage Release

Background:

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

1) Bret C. and Kimberly A. Olsen, 1609 East 25^th Street, participated in a Habitat for Humanity Program in 2006.

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.  There is also a forgiveness period that, if reached, forgives this balance.  Staff has determined that the forgiveness period has passed for the above loan(s) that has 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 Bret C. and Kimberly A. Olsen, 1609 East 25^th 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.