BACKGROUND
The owner of a home that was rehabilitated in 2010 with funds from a Community Development Block Grant Recovery (CDBG-R) program is attempting to have the unit refinanced and the outstanding deed of trust with Rowan County is an impediment to processing. The Loan Agreement and Deed of Trust are attached for reference.
The CDBG-R program stipulated the homeowner must reside in the home for six (6) years following completion of the project and 1/6 of the loan amount would be forgiven annually.
In consult with the County Attorney, it has been confirmed the owner satisfied their obligation under the program requirements in May of 2016.
RECOMMENDATION
- Authorize Finance Director Anna Bumgarner to sign the attached Satisfaction
- Authorize County Attorney to file the completed Satisfaction with Rowan County Register of Deeds
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