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Mount Vernon URA votes to write off $174,509.09 in old, unrecorded loans
Summary
The Mount Vernon Urban Renewal Agency unanimously approved a resolution to write off $174,509.09 in bad debt tied to loans dating from 1984–2015 after staff said liens were never recorded with the Westchester County Clerk and the debts are not collectible.
The Mount Vernon Urban Renewal Agency voted 5-0 Tuesday to adopt resolution 2025-010, approving the write-off of $174,509.09 in bad debt identified in the agency's 2020 audit.
Agency staff told the board the loans on the attached list cannot be enforced because the mortgage or lien paperwork was not recorded with the Westchester County Clerk and many borrowers or businesses no longer match the recorded property owners. Mayor (name not specified) told the board the loans range from March 1984 to February 2015 and were…
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