CITY OF ORLANDO
COUNCIL AGENDA ITEM

Items Types:
Housing 		For Meeting of:
November 13, 2017
District: 5 From:
Contract ID: Document Number:
Exhibits: No On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: Yes
Subject:
Authorization to execute partial/full releases of the mortgage and other loan documents associated with the Heroes' Commons at Jefferson Park properties
Summary:

In 2014, the City of Orlando conveyed six vacant lots in Parramore to the Orlando Regional Realtor Foundation to develop Hereos’ Commons at Jefferson Park, a planned “village” of six homes to be provided to income qualified disabled veterans, veterans, local law enforcement officers, and other public safety personnel. At the time of conveyance, a lien was placed on the property securing the mortgage with the Foundation. Three of the homes have been completed and are ready to be conveyed to a qualified household; the remaining three are under construction and are expected to be completed within the coming months. Pursuant to the City’s agreement with the Foundation, the City will execute a partial release of the mortgage and other loan documents with the Foundation at the time a home is conveyed to the homeowner.
Fiscal & Efficiency Data: N/A
Recommended Action:
Authorize the Mayor to execute partial/full releases of mortgage and other loan documents at the time a home is conveyed to the homeowner pursuant to the terms of the agreement between the City of Orlando and the Orlando Regional Realtor Foundation related to the Heroes' Commons at Jefferson Park.
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: Linda Rhinesmith
Approved By:

Department Date and Time
Budget Outside Routing Approval 11/1/2017 11:08 AM
Grants 11/1/2017 1:49 PM
City Clerk 11/6/2017 1:05 PM
ATTACHMENTS:
Name: Description: Type:
No Attachments Available
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