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CITY COMMISSION AGENDA ITEM |
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Department: |
Community Development (PDS) |
Commission Meeting Date: April 16, 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 Charlotte Dickson, 2715 Rawhide Lane. |
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Executive Summary: |
Charlotte Dickson participated in the CDBG Comprehensive Housing Rehabilitation Loan Program in 1988.
Based on the Comprehensive Housing Rehabilitation Loan program processes, a mortgage was placed on the property. The balance of the mortgages becomes due when the property is no longer owner-occupied. The original amount of the Comp Rehab Loan was $16,929.69 and the mortgage was filed on 03/03/1988. There were no monthly payments required on the loan. Per the mortgage, the loan amount was forgiven at a maximum of 50% upon reaching seven years. Because Ms. Dickson exceeded this requirement, the amount due to the city was $8,464.85. CDD staff received this payment in full on 03/27/2019. With this payment, $8,464.85 will be returned to the CDBG program.
Staff has verified that the mortgage provisions have been satisfied and the mortgage(s) should be released.
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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 |