CITY COMMISSION AGENDA ITEM

Department:	Planning and Development Services		Commission Meeting Date:  05/15/2018
Staff Contact:	Danelle Dresslar, Community Development Manager
Recommendations/Options/Action Requested:
Authorize the Mayor to sign the Subordination Agreement for Arthur Jr. and Shirley Ann Tarpy, 625 Lake Street.
Executive Summary:		The following individuals participated in a Community Development Division loan program. Arthur Jr. and Shirley Ann Tarpy, 625 Lake Street, participated in the Comprehensive Housing Rehabilitation Program in 1998. In order to participate in the program, they were required to sign a mortgage and mortgage note to protect the City’s interest in the property.  They wish to subordinate to a primary mortgage on the property; in order to do so the City must subordinate the lien to the loan with US Bank.
Strategic Plan Critical Success Factor		Safe, Healthy, and Welcoming Neighborhoods
Fiscal Impact (Amount/Source):		The fiscal impact to the City is $______0__ .
Attachments:		None

Reviewed By: (for CMO use only)

☐TM ☐DS ☐CT ☐BM