File #: 20-024    Version: 1 Name:
Type: Resolution Status: Passed
File created: 1/9/2020 In control: Elder Care Committee
On agenda: Final action: 2/10/2020
Title: AUTHORIZING AN AGREEMENT WITH ENTERPRISE COMMUNITY PARTNERS, INC. REGARDING THE EQUITABLE REVERSE MORTGAGE ASSISTANCE PILOT PROGRAM
Sponsors: Elder Care Committee, Carolyn McLaughlin, Bill L. Ricard
Attachments: 1. Senior Assistance Cover Letter, 2. Senior Assistance RLA Form, 3. Updated ERMA - County Agreement Letter, 4. ERMA 2-page Description

RESOLUTION NO. 24

 

AUTHORIZING AN AGREEMENT WITH ENTERPRISE COMMUNITY PARTNERS, INC. REGARDING THE EQUITABLE REVERSE MORTGAGE ASSISTANCE PILOT PROGRAM

 

                     Introduced: 2/10/20

By Elder Care Committee:

 

WHEREAS, The Albany County Executive has requested authorization to sign a commitment letter on behalf of Albany County in order to endorse and enter into an agreement with Enterprise Community Partners, Inc. regarding participation in the Equitable Reverse Mortgage Assistance (ERMA) pilot program, and

 

                     WHEREAS, The County Executive has indicated that ERMA is a statewide deferred loan program for senior homeowners to prevent reverse mortgage foreclosure due to unpaid property taxes or property insurance, now, therefore be it

 

                     RESOLVED, By the Albany County Legislature that the County Executive is authorized to sign a commitment letter on behalf of Albany County in order to endorse and enter into an agreement with Enterprise Community Partners, Inc., New York, NY 10004 regarding participation in the Equitable Reverse Mortgage Assistance (ERMA) pilot program, and, be it further

 

                     RESOLVED, That the County Attorney is authorized to approve said commitment letter and agreement as to form and content, and, be it further

 

                     RESOLVED, That the Clerk of the County Legislature is directed to forward certified copies of this resolution to the appropriate County Officials.