CITY COMMISSION AGENDA ITEM

Department:	Planning and Development Services		Commission Meeting Date:  12/13/2016
Staff Contact:	Danelle Dresslar, Community Development Manager
Recommendations/Options/Action Requested:
Authorize the Mayor to sign the Subordination Agreement for Paul Ackerman and Jean Ackerman, 2123 Marvonne Road.
Executive Summary:		The following individual participated in a Community Development Division loan program. Paul Ackerman and Jean Ackerman, 2123 Marvonne Road, participated in the Comprehensive Housing Rehabilitation Program in 2012. 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

Reviewed By: (for CMO use only)

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