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CITY COMMISSION AGENDA ITEM |
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Department: |
Community Development (PDS) |
Commission Meeting Date: May 14, 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 Robbin Loomas and Thomas O. Tootle Jr., 1131 Wagon Wheel Road.
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Executive Summary: |
Robbin Loomas and Thomas O. Tootle Jr. participated in the CDBG Furnace Loan Program in 2013. The house has sold, resulting in loan payoffs being returned to the City.
Based on the Emergency 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 Furnace Loan was $4,731.00 and the mortgage was filed on 03/11/2013. There were no monthly payments required on the loan. CDD staff received this payment in full on 04/24/2019. With this payment, $4,731.00 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 |