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Committee reviews agreement giving city staff authority to manage FAIR mortgages and affording new housing study work
Summary
City staff presented a resolution authorizing the Department of Community and Economic Development to administer FAIR program mortgages and liens previously held by the Williamsport Redevelopment Authority; RDA has already signed the agreement and staff said FAIR program funds are expended though mortgages on about nine to ten properties remain.
The Finance Committee reviewed a resolution to authorize the city's Department of Community and Economic Development to administer the FAIR program day-to-day, including the authority to amend or satisfy mortgages or liens tied to that program.
Valerie Fessler, a Community and Economic Development staffer, told the committee the agreement is intended to resolve a technical issue: several FAIR mortgages had been written between homeowners and the Williamsport Redevelopment Authority (RDA), rather than directly with the city, which limited the city's ability to manage transfers and mortgage satisfactions.…
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