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CITY COMMISSION AGENDA ITEM |
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Department: |
Community Development (PDS) |
Commission Meeting Date: February 7, 2017 |
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Staff Contact: |
Danelle Dresslar, Community Development Manager |
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Recommendations/Options/Action Requested: |
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Authorize the Mayor to sign a Release of Mortgage for Stephanie Botteron. |
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Executive Summary: |
Stephanie Botteron, 4110 West 13th Street, participated in the Emergency Loan Program in 2013.
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 the situation that an Emergency or Furnace Loan that was previously completed may be rolled in to a larger Comprehensive Housing Rehabilitation mortgage note if additional work has been completed at a later date. Ms. Botteron recently participated in the Comprehensive Housing Rehabilitation program and this particular note will be rolled into the larger note, requiring this note to be released. Staff will coordinate the release of this mortgage and the filing of the new mortgage.
Staff has verified that the mortgage provisions have been satisfied with the rollover and the mortgage(s) should be released.
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Strategic Goal Area: |
Affordable Housing |
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Fiscal Impact (Amount/Source): |
The fiscal impact to the City is $___0_____.
This is a CDBG/HOME Mortgage Note repayment/reassignment that the City places back into the CDBG/HOME program for future allocation and use. |
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Attachments: |
None. |
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Reviewed By: (for CMO use only) |
☐TM ☒DS ☐CT ☐BM |