CITY COMMISSION AGENDA ITEM

Department:	Planning and Development Services		Commission Meeting Date:  03/07/2017
Staff Contact:	Danelle Dresslar, Community Development Manager
Recommendations/Options/Action Requested:
Authorize the Mayor to sign the Subordination Agreement for Janice Simmons, 1514 Wedgewood Drive.
Executive Summary:		The following individual participated in a Community Development Division loan program. Janice Simmons, 1514 Wedgewood Drive, participated in Comprehensive Housing Rehabilitation Program in 2006. 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 Bank of America.
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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