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Glades County commissioners approve $35,387.09 repayment to satisfy SHIP rehabilitation mortgage
Summary
The Glades County Board of County Commissioners voted 5-0 to repay $35,387.09 to satisfy a SHIP rehabilitation mortgage, authorize the chair to sign a satisfaction, and direct staff to notify the title company; the item will return if the sale does not close within 30 days.
The Glades County Board of County Commissioners voted 5-0 to approve repayment to the SHIP program of $35,387.09 to satisfy a rehabilitation mortgage and authorized the chair to sign a satisfaction on behalf of the board.
Commissioners said the payment is not a forgiveness of the underlying obligation; the homeowner must still repay the loan. County staff reported the repayment package includes a one-year incentive mortgage amount of $6,175.83 plus $4,611.27 in interest (4%), for a subtotal of $10,787.09, and that the full amount to be returned to the SHIP budget is $35,387.09 (Book 363, page 927). The board also authorized the county to send a demand letter to the title company for $35,387.09 and directed that, if the property sale does not close within 30 days, the matter will be returned to the board.
Members discussed the intent of SHIP funds, describing the program as a home assistance and rehabilitation effort meant to make residences habitable rather than an investment for resale. A county official noted the program is funded with public dollars and said the work is intended to maintain livable housing, not to create a short-term profit for recipients. Board members asked staff to confirm the payoff figures and documentation in the referenced county records (Book 363, page 927) before executing the satisfaction.
The approval followed a formal motion to authorize repayment and to empower the chair to sign the satisfaction. The board recorded the vote as 5-0 in favor. The county will notify the title company of the repayment demand; the item will be placed back on a future agenda if the title company does not close the transaction within 30 days.
The action affects a single homeowner and the county's SHIP budget. The board’s decision does not change the requirement that the homeowner ultimately repay the loan beyond the formal satisfaction recorded with the title company.
