Article submitted by James Master, Managing Editor of The Pilot News
The Argos Town Council members considered a new lease with Mediacom for a small building by the water tower.
Town Attorney Derek Jones explained that the town has a lease with Mediacom for a small building by the water tower. The lease is for ten years and is about to expire around March. Mediacom has reached out to the Clerk-Treasurer with a request to renew the lease. Mediacom would pay $650 a month for the lease.
The terms for the new lease are the same as the old lease. The council approved the new lease.
In another matter, a mortgage foreclosure was brought to the council’s attention. Jones said there was a mortgage in the amount of $10,000 from a CDBG revolving loan fund and there has not been recovery in it. He went on to explain that “all this mortgage foreclosure does is say that we’re second in line behind the mortgage company which is this Deutsche Bank.”
Council President Charles Randy Snead asked if the person that owns the house in question is looking to sell the house. He was told that this was a foreclosure issue and that the house could be lost if the owner doesn’t get the mortgage redeemed.
Clerk-Treasurer Lisa Mullaney said the town had some loans on a few properties in the’90s around town and some of them were paid in installments. If the installments were not made, a lien was put against the house. A person had to live in that house for so many years for some of that to be forgiven. She noted that there is still money owed to the town on some of these houses and the town has forgiven a few.
The council did not take any official action regarding this matter.
