Submitted By: Sean Lanier
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Presentation By: Tracy Taylor
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Department: Engineering
STAFF RECOMMENDATION (Motion Ready):
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Approve the Satisfaction of Mortgage on Marion County Parcel #2856-004-008
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OCALA’S RELEVANT STRATEGIC GOALS:
Quality of Place
PROOF OF PUBLICATION:
N/A
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BACKGROUND:
Parcel #2856-004-008 is a surplus parcel that is being sold to D&S Development, LLC in support of the Affordable Housing Initiative. The parcel is currently encumbered by a mortgage that was satisfied by the recording of a Deed in Lieu of Foreclosure that is recorded in BK 4063, PG 1479. The mortgage was satisfied through the conveyance of the parcel to the City of Ocala.
FINDINGS AND CONCLUSIONS:
City Staff has reviewed the recorded documents associated with the mortgage and accepts the Satisfaction of Mortgage, subject to Council’s approval. Staff recommends approval.
FISCAL IMPACT:
None
PROCUREMENT REVIEW:
The Satisfaction of Mortgage has been reviewed by the Procurement and Contracting Officer in compliance with the City’s policy.
LEGAL REVIEW:
This Satisfaction of Mortgage has been reviewed and approved for form and legality by City Attorney, William E. Sexton.
ALTERNATIVE:
• Approve with Changes
• Table
• Deny