CITY COMMISSION AGENDA ITEM

Department:	Community Development (PDS)		Commission Meeting Date:  10/18/2016
Staff Contact:	Danelle Dresslar, Community Development Manager
Recommendations/Options/Action Requested:
Authorize the Mayor to sign the Subordination Agreement for David F. Roberts and Rita F. Roberts, 2018 Miller Drive.
Executive Summary:		The following individual participated in a Community Development Division loan program. David F. Roberts and Rita F. Roberts, 2018 Miller Drive, participated in the Homeowners Out of Tenants Program in 1999. In order to participate in the program, they were required to sign a mortgage and mortgage note to protect the City’s interest in the property.  They wish to subordinate to a primary mortgage on the property; in order to do so the City must subordinate the lien to the loan with US Bank National Association.
Strategic Goal Area:		Affordable Housing
Fiscal Impact (Amount/Source):		The fiscal impact to the City is $___0_____.
Attachments:		None.