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CITY COMMISSION AGENDA ITEM |
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Department: |
Community Development (PDS) |
Commission Meeting Date: 06/05/2018 |
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Staff Contact: |
Danelle Dresslar, Community Development Manager |
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Recommendations/Options/Action Requested: |
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Authorize the Mayor to sign a Release of Lien for 1000 E. 25th Terrace and 1231 Laura Avenue. |
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Executive Summary: |
1000 E 25th Terrace and 1231 Laura Avenue are both Lawrence Community Housing Trust properties.
Based on the program the individual(s) participated in, a Lien was placed on the property. The balance is due when the property is no longer owner-occupied, however occasionally circumstances arise where the City decides to release the lien so the home can be resold by Tenants to Homeowners to an income-eligible buyer and continue in the Lawrence Community Housing Trust (LCHT), thus keeping the property permanently affordable. Staff has determined the best course of action on this loan is to release this lien, allowing Tenants to Homeowners to resell the property. This release will allow the home to remain in the LCHT and will allow for continued housing opportunities to low-income homebuyers. Staff will file a deed restriction in place of this lien.
The lien amount due can be waived in the interest of affordable housing and the lien(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_____.
This is a HOME Lien Note waiver that the City places back into the HOME program continuation of affordable housing. |
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Attachments: |
None. |
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(for CMO use only) |
☐TM ☒DS ☐CT ☐BM |