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Council to clear city mortgages and allow buyer to assume affordable‑unit restrictions for three properties
2902986 · April 8, 2025
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Summary
Staff asked the council to approve sale and mortgage discharges for three city-encumbered properties so buyers can proceed with transfers and satisfy mortgage terms.
The Division of Community Development asked the municipal council to approve three routine actions: (1) allow a buyer to assume the city’s note, mortgage and deed restrictions on an affordable unit at 102 Cambridge Ave., Unit 11; (2) authorize discharge of a 2006 mortgage on 269 Stegman Street tied to a homeowner repair program; and (3) authorize…
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