BACKGROUND
The County's Housing Programs Administrator, Salisbury Community Development Corporation (CDC), has identified several homeowner rehabilitation projects in which the homeowner has satisfied their residency obligation as a condition of the loan agreement. In general, these owner-occupied rehabilitation projects funded thru the HOME program stipulate the owner must reside in the home for eight (8) years after completion of the project; 1/8 of the loan amount is forgiven annually.
The County Attorney has reviewed and confirmed the Deeds of Trust for the following projects have matured past the date of compliance and owner has complied with the terms.
- Rhodes, Rick A. and Lori .P;
- Stancil, Stephen A. and Judith H.;
- Brown, Barry Alexander and Virgie Sue;
- Gray, Lee H. and Mary Ann Phillips;
- Wise, Dorothy C.;
- Wyatt, Toni Shelton; and
- Overcash, Jeffrey Clyde.
RECOMMENDATION
- Authorize Finance Director Anna Bumgarner to sign the attached Satisfactions for each of the above referenced projects.
- Authorize County Attorney to file the completed Satisfactions with the Rowan County Register of Deeds.
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