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Lafayette Housing Authority requests and council approves several mortgage and lien releases
Summary
The Lafayette Housing Authority presented releases of mortgage liens and restrictive covenants for multiple properties whose affordability periods expired; the council approved each release.
Valerie Oakley, project manager with the Lafayette Housing Authority, asked the council to approve several releases of mortgages and a release of a restrictive covenant on properties whose affordability periods had expired. The council approved each requested release by voice vote.
Oakley listed the properties: 1121 North Eighth Street; 1227 Sinton Avenue; 2807 Vinton Street; and 460 Maple Street in West Lafayette (listed as 460 Maple Street, West Lafayette). For the Maple Street property the authority also requested release of a mortgage and a restrictive covenant agreement; the council approved both requests.
Council members moved and seconded each item and approved them without additional questions. The releases remove the housing authority’s recorded lien or restrictive covenant because the period of affordability on those units had ended as described by agency staff.
The actions clear recorded affordability restrictions from property titles; the Housing Authority representative said the properties have satisfied their affordability periods.
