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Satisfaction of Deferred Loan Agreement for Denise C. Brown Through Emergency Roof Repair Program; and Satisfactions of Various Mortgages Through Homeownership Down Payment Assistance Program
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BRIEF OVERVIEW
Attached are the following Satisfactions for loans granted through Hernando County’s Emergency Roof Repair Program and Homeownership Down Payment Assistance Program:
• Denise C. Brown in the amount of $9,645.00
• Andrew M. and Cari L. Czako in the amount of $17,890.00
• Emily P. Garey in the amount of $10,000.00
• Gilbert Padro in the amount of $2,500.00
• Christie R. Vincent in the amount of $36,798.00
The recipients received either a deferred payment loan through the Emergency Roof Repair Program or a second mortgage loan from the County funded through the State Housing Initiatives Partnership (SHIP) Program. The loans are given to qualified homebuyers at zero percent interest.
The County has received checks to pay off each loan in full, payable to Hernando County for a total amount of $76,833.00. The checks have been sent to the Finance Department for deposit. The checks represent the full payoff of the loans.
FINANCIAL IMPACT
Revenue in the amount of $76,833.00 to Fund: 1271 - State Housing Initiatives Partnership, Department: 35051 - SHIP Grant-Housing Auth, Account: 3699030 - Miscellaneous Rev-Down Payment Reimbursement.
LEGAL NOTE
The Board has the authority to act on this matter pursuant Chapter 420, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairperson’s signature on the attached satisfactions.