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City To Discharge Multiple Mortgages, Including Homeowner Repair and Multifamily Matching Loans
Summary
The business administrator presented several resolutions authorizing the discharge of deferred-payment and affordability mortgages for homeowner-repair and multifamily projects, citing forgiveness provisions and expired affordability periods.
The business administrator told the council that the administration will request authority to execute multiple mortgage discharges affecting homeowner-repair, multifamily matching-grant and first-time homebuyer assistance loans.
Agenda items 10.11 through 10.15 would authorize discharge of a 2008 deferred-payment mortgage in the amount of $32,103 for a Homeowner Repair Program loan that is eligible for forgiveness…
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