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: |
August 25, 2014 |
RE: |
Mortgage Release |
Background:
The following individual participated in a Community Development Division loan program.
1) Phillip J. Cullison and Rachel A. Bachman, 2710 Bonanza, participated in the Homeowners Out of Tenants Program in 2000.
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.
Staff Recommendation:
The mortgage provisions have been satisfied and the mortgage(s) should be released.
Action:
Release the mortgage for Phillip J. Cullison and Rachel A. Bachman, 2710 Bonanza, if appropriate.
The City Clerk will have the document ready for the Mayor's signature. If you have further questions, please let me know.