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:	September 9, 2014
RE:	Mortgage Assignment

Background:

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

1) LeWayne Marker, 908 LaSalle Street, participated in the Emergency Loan Program in 2008.

Based on the program the individual participated in, a mortgage was placed on the property in the amount of $2,520.   The mortgager is deceased and no heirs have been discovered.  The property has a county tax lien that is being foreclosed on in the fall of 2014.  Tenants to Homeowners, Inc. (TTH), is interested in purchasing the property from the county.  It has been the division’s practice to forgive mortgages that TTH recaptures in the Lawrence Community Housing Trust program as it continues to meet the goal of supporting affordable housing.  In this case Tenants to Homeowners has requested in this particular case a reassignment of mortgage for the reasons as noted in the attached letter.

Staff Recommendation:

Staff is in agreement with the request from Tenants to Homeowners, Inc. as it continues to achieve the goals of permanently affordable housing, as well as the fact that the property is already located in a neighborhood that has seen positive impacts from the Lawrence Community Housing Trust program.  The funds owed to the City will remain as a piece of the ultimate goal of affordable housing when reassigned to TTH.

Action:

Reassign the mortgage from the City of Lawrence to Tenants to Homeowners, Inc., if appropriate.

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