CITY COMMISSION AGENDA ITEM

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Department:

Community Development (PDS)

Commission Meeting Date:  09/05/2017

Staff Contact:

Danelle Dresslar, Community Development Manager

Recommendations/Options/Action Requested:

 

Authorize the Mayor to sign a Release of Mortgage for Gale Fleming, 204 N. Minnesota Street.

 

Executive Summary:

Gale Fleming, 204 N. Minnesota Street, participated in the Comprehensive Housing Rehabilitation Loan Program in 2004.

 

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 possibility that the note contains a forgiveness period that, if reached, forgives a portion of this balance.  Staff has determined that the appropriate forgiveness period has passed (if applicable) and all payments have been received for the above loan(s) that has resulted in a zero balance due to the City.

 

Staff has verified that the mortgage provisions have been satisfied and the mortgage(s) should be released.

 

 

Strategic Plan Critical Success Factor

Safe, Healthy, and Welcoming Neighborhoods

 

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.

Attachments:

None.

 

 

 

Reviewed By:

(for CMO use only)

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☒DS

☐CT

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