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Agenda 02/25/2020 Item #16D 6 (SHIP Satisfaction of Mortgages)02/25/2020 EXECUTIVE SUMMARY Recommendation to approve two (2) mortgage satisfactions for the State Housing Initiatives Partnership loan program in the amount of $41,500 and approve an associated Budget Amendment. (Net Fiscal Impact of $41,500) OBJECTIVE: To support the affordability of housing in Collier County through the State Housing Initiatives Partnership (SHIP) down payment and emergency repair and/or rehabilitation assistance programs. CONSIDERATIONS: SHIP, a state affordable housing program, offers assistance to first-time homebuyers for use toward a portion of the required down payment and emergency repairs to the newly acquired home, and rehabilitation assistance to homeowners for rehabilitation to their homesteaded property. As a condition of award, the homeowner must repay the assistance provided upon sale, refinance, or loss of homestead exemption. The following table provides details regarding the associated mortgages that have been repaid. As such, satisfactions of mortgages are required. File # Name Security Instrument Mortgage Amount Payoff Amount Public Record 11-033 05-149 Laura K. Wells Alison Flick SHIP DPCC Mortgage SHIP DPCC Mortgage $20,000 $24,000 $20,000 $21,500* OR4847/PG1007 OR4159/PG1828 Total: $44,000 $41,500 *Note: The total amount stated on the mortgage was not dispersed to the client. Property owners are required to pay the amount they received which is less than the amount stated on the mortgage. Approval of this Item will authorize the Chairman to sign the aforementioned satisfactions of mortgage and the executed document shall be recorded in the Public Records of Collier County, Florida. FISCAL IMPACT: The repaid amount of $41,500 satisfies the mortgages due as a result of the recapture provision as noted above. These repayments are considered program income and have been deposited in SHIP Grant Fund (791), Project 33613. Deposited funds will be used for SHIP eligible activities. Also, an associated Budget Amendment recognizing $41,500 in program income, of which five percent (5%) will be used as Administrative funds. Recording fees of $10 per Satisfaction of Mortgage have been paid by the parties. LEGAL CONSIDERATIONS: This Item is approved for form and legality and required a majority vote for Board approval. -JAB GROWTH MANAGEMENT IMPACT: There is no Growth Management impact. RECOMMENDATION: To approve and authorize the Chairman to sign two (2) mortgage satisfactions for the State Housing Initiatives Partnership loan program in the amount of $44,000 and approve the associated Budget Amendment of $41,500. Prepared By: Lisa N. Carr, Senior Grants Coordinator, Community & Human Services Division 16.D.6 Packet Pg. 2059 02/25/2020 ATTACHMENT(S) 1. SHIP SOM Flick (PDF) 2. SHIP SOM Wells (PDF) 3. SAP Wells and Flick $41,500 (PDF) 4. Backup Flick (PDF) 5. Backup Wells (PDF) 16.D.6 Packet Pg. 2060 02/25/2020 COLLIER COUNTY Board of County Commissioners Item Number: 16.D.6 Doc ID: 11498 Item Summary: Recommendation to approve two (2) mortgage satisfactions for the State Housing Initiatives Partnership (SHIP) loan program in the amount of $41,500 and approve an associated Budget Amendment. (Net Fiscal Impact of $41,500). Meeting Date: 02/25/2020 Prepared by: Title: – Community & Human Services Name: Maria Aldana 01/27/2020 3:04 PM Submitted by: Title: Manager - Federal/State Grants Operation – Community & Human Services Name: Kristi Sonntag 01/27/2020 3:04 PM Approved By: Review: Community & Human Services Lisa Carr Additional Reviewer Completed 01/27/2020 3:08 PM Community & Human Services Kristi Sonntag CHS Review Completed 01/27/2020 5:05 PM Community & Human Services Leslie Davis Additional Reviewer Completed 01/28/2020 10:51 AM Community & Human Services Cormac Giblin Additional Reviewer Completed 02/03/2020 2:55 PM Community & Human Services Maggie Lopez Additional Reviewer Completed 02/04/2020 3:56 PM Operations & Veteran Services Kimberley Grant Level 1 Reviewer Completed 02/04/2020 4:55 PM Public Services Department Todd Henry Level 1 Division Reviewer Completed 02/05/2020 8:11 AM Grants Erica Robinson Level 2 Grants Review Completed 02/06/2020 6:54 AM Public Services Department Steve Carnell Level 2 Division Administrator Review Completed 02/12/2020 8:19 AM County Attorney's Office Jennifer Belpedio Level 2 Attorney of Record Review Completed 02/14/2020 10:38 AM County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 02/14/2020 10:40 AM Office of Management and Budget Debra Windsor Level 3 OMB Gatekeeper Review Completed 02/14/2020 10:47 AM Grants Therese Stanley Additional Reviewer Completed 02/14/2020 1:27 PM Budget and Management Office Ed Finn Additional Reviewer Completed 02/14/2020 6:17 PM County Manager's Office Sean Callahan Level 4 County Manager Review Completed 02/17/2020 2:45 PM Board of County Commissioners MaryJo Brock Meeting Pending 02/25/2020 9:00 AM 16.D.6 Packet Pg. 2061 16.D.6.a Packet Pg. 2062 Attachment: SHIP SOM Flick (11498 : SHIP SOM Wells and Flick) 16.D.6.b Packet Pg. 2063 Attachment: SHIP SOM Wells (11498 : SHIP SOM Wells and Flick)  16.D.6.cPacket Pg. 2064Attachment: SAP Wells and Flick $41,500 (11498 : SHIP SOM Wells and Flick) 16.D.6.e Packet Pg. 2065 Attachment: Backup Flick (11498 : SHIP SOM Wells and Flick) DAVID B. FLICK 63;!6520 2 7 9 GLORIA J. FLICK 2011040421 2332 BROADWING GT. ...., A . • I.,-"t O .. ,,. ,--. NAPLES, FL 34105 DAT" ,-lv,M _;, I '-'V �r;��&'"CoL.u ;-:;aeo.2i-rr1 �RiD Df Qo,,)�n, eoMt. 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