CP067 (Disposition of Properties by CDA)CITY OF JANESVILLE Policy No. 67
CITY COUNCIL POLICY STATEMENT Date Issued 12/12/89
Date Revised 5/11/2020
General Subject: Administration Effective Date 5/11/2020
Specific Subject: Disposition Cancellation Date
of Properties by the Community
Development Authority (CDA) in Supersedes No.
Conjunction with Home Improvement
Loan Program Foreclosures and
Enforcement of Other Legal Protections
PURPOSE
To clarify responsibilities and administrative procedures for the disposition (including
acquisition and sale) of properties resulting from the operation of the City’s Home
Improvement Loan Programs, as funded by the Community Development Block Grant
(CDBG), Home Investment Partnership Program (HOME), and other State and Federal
grants, when enforcing loans through foreclosure or other legal action.
STATEMENT OF POLICY
In some instances where the CDA has made a loan under one of the City’s Home
Improvement Loan Programs and the owner has defaulted under the terms of the loan, it
may be desirable for the City to enforce, through foreclosure or other legal action, the City’s
rights arising under loan, including the protection of the City’s security interest in such loan
by acquisition and sale of the secured property, and otherwise in order to protect the City’s
interest in the property.
The Community Development Authority shall decide which properties to acquire and sell
through such legal proceedings as necessary in order to protect the City’s interest. Upon
the acquisition and sale of properties, funds will be drawn from, and be returned to, the
special revenue fund from which the loan originated.