CITY OF ORLANDO
COUNCIL AGENDA ITEM

Items Types:
Business and Financial Services 		For Meeting of:
March 9, 2015
District: 6 From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No
Subject:
Waiver of Obligations between City and the United States Small Business Administration re: 5001 LB McLeod Road
Summary:
The United States Small Business Administration, "SBA", is providing funds as part of a loan package to the owner of property located at 5001 L.B. McLeod Road.  The property is encumbered by an agreement requiring future connection to the City's sewer system.  (At the time of the agreement, sewer service was not available to the property.)  Since then, City sewer has been extended and the property has connected.  However, because the agreement is part of the public records, the SBA has requested that the City execute a waiver of obligations under the agreement (a Release) in the event that the SBA forecloses on the property and obtains title.    
Fiscal & Efficiency Data: N/A
Recommended Action:
Approval of the attached Waiver and Authorization for the Mayor or Mayor Pro Tem to execute same, subject to review and approval by the City Attorney's Office.  
Agenda Item attachment(s) on file in the City Clerks Office.
Note: All agenda items must be in the City Clerk's office by Noon Friday, six(6) business days prior to the regular Monday City Council meeting.
Contact: Roy K. Payne
Approved By:

Department Date and Time
Budget Outside Routing Approval 2/27/2015 8:54 AM
City Clerk 2/27/2015 8:59 AM
ATTACHMENTS:
Name: Description: Type:
Antideficiency_Act_Modification_Waiver_5001_L.B._McLeod_Road__Orlando__FL.docx Agreement Backup Material
"Enhance the quality of life in the City by delivering public services in a knowledgeable, responsive and financially responsible manner."