Memorandum

City of Lawrence

Planning and Development Services

TO:	David L. Corliss, City Manager
FROM:	Danelle Dresslar, Community Development Manager, Planning and Development Services
CC:	Scott McCullough, Director, Planning and Development Services
DATE:	May 14, 2014
RE:	Mortgage Release

Background:

The following individuals participated in a Community Development Division loan program. 

1) Russell C. and Carol L. Beeson, 507 Louisiana Street, participated in the Comprehensive Rehabilitation Loan Program in 1995.

Based on the program the individual 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.  Staff has determined that all of the required monthly payments have been received for the above loan that has resulted in a zero balance due to the City.

2) Jeffery A. and Shawna H. Huffman, 805 Locust Street, participated in the HOOT program in 2004.

Based on the program the individual participated in, a mortgage was placed on the property.  The individuals are selling their home back to the Lawrence Community Housing Trust.  The mortgage is being released and the funds are being rolled back into the Housing Trust for sale to an income-eligible homebuyer.

Staff Recommendation:

The mortgage provisions have been satisfied and the mortgage(s) should be released.

Action:

Release the mortgage for Russell C. and Carol L. Beeson, 507 Louisiana Street, if appropriate.

Release the mortgage for Jeffery A. and Shawna H. Huffman, 805 Locust Street, if appropriate.

The City Clerk will have the document ready for the Mayor's signature.  If you have further questions, please let me know.