SUBJECT:
Title
Request Approval to Execute Assignment and Assumption of Mortgage and Other Loan Documents Between Marion County, CASA of Marion and LOTUS Marion (Budget Impact - None)
Body
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INITIATOR: |
DEPARTMENT: |
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Cheryl Butler, Director |
Community Services |
DESCRIPTION/BACKGROUND:
In 2024, Marion County provided Community Development Block Grant (CDBG) funding to CASA Marion, LLC for the acquisition and rehabilitation of a domestic violence shelter, secured by a 30-year, 0% interest mortgage in the amount of $2,690,305.68.
Effective July 1, 2026, operation of the shelter transitioned to LOTUS Marion. CASA Marion and LOTUS Marion have jointly requested that the County approve the assignment and assumption of the existing note and mortgage to LOTUS Marion to ensure continuity of shelter services.
The assignment and assumption agreement has been executed by both organizations. Board approval and the Chairman's signature are required to provide the County's consent and complete the transfer, as required under the mortgage documents.
BUDGET/IMPACT:
None
RECOMMENDED ACTION:
Recommended action
Motion to approve and authorize the Chairman and Clerk to execute assignment and assumption of mortgage and other loan documents to include those associated with this agreement.
end