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Summary:
On October 19, 2009, the City of Orlando entered into an agreement with Westar Development, LLC, to provide $287,182 in HOME funds to assist in the construction of single-family affordable homes on 730, 734, 738, and 740 Short Avenue. The City recorded the executed Mortgage and Restrictive Covenant on November 4, 2009. The homes were not constructed; the agreement was cancelled and no funds were released. Staff is requesting City Council's approval to release the Mortgage with Westar Development and the release of the restrictive covenant on the associated properties. |
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Fiscal & Efficiency Data:
No Fiscal Impact
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Recommended Action:
Approve and authorize the Mayor and City Clerk to cancel the note, execute the Release of Mortgage, and release of Restrictive Covenants on 730, 734, 738 and 740 Short Avenue after review of the documents by the City Attorney's office. |
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Agenda Item attachment(s) on file in the City Clerks Office.
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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.
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Contact:
Linda Rhinesmith, linda.rhinesmith@cityoforlando.net
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Approved By:
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Department
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Date and Time
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| Budget Outside Routing Approval |
11/2/2018 9:36 AM |
| City Clerk |
11/2/2018 9:50 AM |
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