Memorandum

City of Lawrence

Planning and Development Services

TO:	Thomas M. Markus,  City Manager
FROM:	Brad Karr, Programs Analyst, Planning and Development Services
CC:	Scott McCullough, Director, Planning and Development Services
DATE:	July 5, 2016
RE:	Mortgage Release

Background:

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

1) Susan L. Bolton, 2015 Stratford Rd, participated in the Comprehensive Housing Rehabilitation Program in 2002.

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 a portion of this balance.  Staff has determined that the forgiveness period has passed and all payments have been received 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 Susan L. Bolton, 2015 Stratford Rd.

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