HomeMy WebLinkAbout2014-04-28 14-148 ORDERCOUNCIL ACTION
Item No. 14-148
Date: Auril 28, 2014
Item/Subject ORDER, Authorizing the Housing Rehabilitation Coordinator to Execute a
Second Amendment to Promissory Note & Agreement with Barbara H.
Neville For Property Located at 97 Fifth Street (Map and Lot Number 034-
048)
Responsible Department: Community & Economic Development
Commentary: This Order will authorize the City's Housing Rehabilitation Coordinator to execute a
Second Amendment to Promissory Note and Agreement and any other documents necessary for the
requested change.
In 2003 the City gave Barbara Neville a secured loan to improve her home. It was a deferred loan that
does not have to be repaid until the home is sold or leased. In 2005 the City Council, by Council Order
05-184, allowed Ms. Neville to transfer her home to joint ownership between herself and her daughter.
Ms. Neville and her daughter are now requesting that the City allow her to create a joint ownership in
the property between Ms. Neville and her sister, Thalia Kay, with the daughter removing herself from the
deed. This item was reviewed and recommended for approval by the Business & Economic
Development Committee at its April 22, 2014 meeting.
Manager's Comments:
Associated Information:
Budget Approval:
Legal Approval:
Introduced for
X Passage
First Reading
Referral
Tanya Emery
Department Head
City fTlanag
Finance Director
City Solicitor
Page _of_
Assigned to Councilor Durgin
CITY OF BANGOR
14-148
APRIL 28, 2014
(TITLE.) ORDER, Authorizing the Housing Rehabilitation Coordinator to Execute a
Second Amendment to Promissory Note & Agreement with Barbara H.
Neville For Property Located at 97 Fifth Street — (Map and Lot Number 034-
048)
WHEREAS, in 2003 the City gave Barbara Neville a secured loan to improve her home that was
a deferred loan which does not have to be repaid until the home is sold or leased; and
WHEREAS, by Council Order 05-184 dated June 13, 2005, the City Council authorized the
execution of a First Amendment to Promissory Note and Agreement for the loan in order for the
borrower to add her daughter to the deed as a co-owner; and
WHEREAS, Barbara Neville has requested another amendment to the loan in order for her
daughter to remove herself as a co-owner of the property and for Ms. Neville's sister, Thalia
Kay, to be added as a co-owner of the property.
BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT
The City of Bangor's Housing Rehabilitation Coordinator, Jeffrey Wallace, is hereby authorized
to execute a Second Amendment to Promissory Note and Agreement for a Community
Development Deferred Payment Rehabilitation Loan with Barbara H. Neville for the property
located at 97 Fifth Street, Bangor and such other documents as may be necessary in order for
Thalia Kay to be added as co-owner of the property of Barbara Neville. Said documents shall
be in a final form as approved by the City Solicitor or Assistant City Solicitor.
IN CITY COUNCIL
April 28, 2014
Passed
61
CITY C