HomeMy WebLinkAbout~Master - Release of contract and lien for 5445 Frost Drive DO NOT WRITE IN THE SPACE ABOVE THIS LINE,RESERVED FOR RECORDER
Prepared by:Diane R.Voss,Ames City Clerk,515 Clark,Ames,IA 50010 Phone:515/239-5105
RESOLUTION NO. 02-042
RESOLUTION APPROVING RELEASE OF
CONTRACT AND LIEN FOR
5445 FROST DRIVE
FOR THE CITY OF AMES,IOWA
WHEREAS, in January 1995, Paul and Kathleen Carlson were participants in the City's
Phase III Affordable Housing Program, and through this program, they received a down payment
and closing cost assistance loan to purchase a newly-constructed, single-family home for low- and
moderate-income, first-time home buyers; and,
WHEREAS,to receive financial assistance,the Carlsons signed a contract and lien agreement
with the City that required a payback of 8%of the assessed tax valuation or the selling price of the
property,whichever is greater,if the property was sold,rented, or unoccupied for a period of seven
years from the date of the agreement; and,
WHEREAS,the Carlsons have met the seven-year commitment,and City staff is requesting
that the City Council authorize the release of the contract and lien recorded by the City against the
above property.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the release of the contract and lien for property located at 5445 Frost Drive in connection with
the City's Phase III Affordable Housing Program is hereby approved.
ADOPTED THIS 22nd day of January, 2002.
Diane R. Voss, City Clerk Ted Tedesco,Mayor
Introduced by: Quirmbach
Seconded by: Hoffman
Voting aye: Cross, Goodhue, Hoffman, Quirmbach, Vegge, Wirth
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 22nd day of January, 2002.