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Port Clinton council votes to waive CHIP payoffs, release city-held mortgages
Summary
Council voted 7-0 Aug. 13 to direct city officials to prepare documents and legislation to waive outstanding Community Housing Impact and Preservation (CHIP) payoffs and release city-held mortgages, a move the Auditor said could relieve senior homeowners.
Port Clinton City Council voted unanimously Aug. 13 to instruct the mayor, auditor, law director and safety service director to prepare legal documents to waive outstanding CHIP balances and release mortgages the city holds.
The motion, made by Council Member Jerry Tarolli and seconded by Pat Hovis, followed an explanation of the program's history. The auditor said the locally administered CHIP program once allowed partial forgiveness of up to 80% after 10 years; the current program offers 100% forgiveness after five years. The auditor cited one example payoff of $5,672.80 for a longtime Fremont Road homeowner and said beneficiaries of the earlier, city-administered program are now mostly senior citizens.
Mr. Tarolli moved that city officials prepare and execute the necessary legal instruments and prepare legislation; Ms. Hovis seconded. A voice roll call recorded seven yes votes and the motion carried 7-0.
The minutes record the auditor's statement that waiving the payoffs would not negatively affect the current CHIP program and that funds returned would go to the present CHIP program rather than the city. Council directed staff to prepare the required documentation and legislation for council consideration.
