CITY COMMISSION AGENDA ITEM

Department:	Community Development (PDS)		Commission Meeting Date:  02/6/2018
Staff Contact:	Danelle Dresslar, Community Development Manager
Recommendations/Options/Action Requested:
Authorize the Mayor to sign Releases of Mortgage for Juanita Nunez, 728 New York Street and Virginia L. Thomas, 937 LaSalle Street.
Executive Summary:		Juanita Nunez, 728 New York Street, participated in the CDBG Emergency Loan Program in 2001. Virginia L. Thomas, 937 LaSalle Street, participated in the CDBG Comprehensive Housing Rehabilitation Loan Program in 2015. 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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