Items Types:
For Meeting of:
May 23, 2016
District: 2 From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: Yes

Release of Mortgage and Restrictive Covenant executed by BETA Center, Inc. in 2013

The City of Orlando entered into an agreement with BETA Center, Inc. on December 10, 2013 to provide Community Development Block Grant funds in the amount of Forty Thousand Eight Hundred Forty Nine Dollars and No Cents ($40,849.00) for facility upgrades to rehabilitate the women’s residential shelter located at 4680  Lake Underhill Road, Orlando, Florida. The City recorded the executed Promissory Note, Mortgage and Restrictive Covenant on December 13, 2013. BETA Center, Inc. failed to respond to the City in a timely manner and meet the timeframes set forth in the agreement. No CDBG funds were expended on the facility and the City terminated the agreement. Staff is requesting City Council's approval to cancel the note and release and discharge BETA Center's property from the lien, mortgage, and restrictive covenant.

Fiscal & Efficiency Data:

Recommended Action:
Approve and authorize the Mayor and City Clerk to execute the Release of Mortgage, and Release of Restrictive Covenant after review of the documents 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: Elvis Santana
Approved By:

Department Date and Time
Budget Outside Routing Approval 5/11/2016 3:56 PM
City Clerk 5/12/2016 7:02 AM

Name: Description: Type:
Release_of_Mortgage_BETA_CENTER_4-27-2016.doc RELEASE OF MORTGAGE Backup Material
Covenant_-_Release_of_-_BETA_4-27-2016.doc RELEASE OF RESTRICTIVE COVENANT Backup Material

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