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CITY COMMISSION AGENDA ITEM |
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Department: |
Community Development (PDS) |
Commission Meeting Date: 02/05/2019 |
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Staff Contact: |
Danelle Walters, 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 Carol Klinknett, 500 Indiana Street. |
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Executive Summary: |
Carol Klinknett participated in the CDBG Comprehensive Housing Rehabilitation Loan Program in 1987. Her son, Jason Klinknett was her primary caregiver and was living in the home for at least two years prior to January 2019. Based on Ms. Klinknett’s situation, the loan was restructured and her son Jason became the mortgagee, taking over all payments and total due on the property. He is the current owner occupant of the property. Staff ensured that Mr. Klinknett was income eligible under program and HUD policies. Mr. Klinknett closed on this note on January 7, 2019.
The total amount due on the note is $8,484.45 and he will be making $50/mo payments on the loan.
Staff has verified that the mortgage provisions have been satisfied for Ms. Klinknett’s note and the mortgage under her name should be released as the new mortgage in Mr. Klinknett’s name is now in place.
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Strategic Plan Critical Success Factor |
Safe, Healthy, and Welcoming Neighborhoods |
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Fiscal Impact (Amount/Source): |
The fiscal impact to the City is $___0_____. |
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Attachments: |
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(for CMO use only) |
☐TM ☒DS ☐CT ☐BM |