It is the purpose and intent of the Town Commission to establish a process to limit and reduce the amount of deteriorating property located within the town, which property is subject to a mortgage which is in default. It is the Town Commission’s further intent to specifically establish a defaulted mortgage registration program as a mechanism to protect neighborhoods from becoming blighted through the lack of adequate maintenance and security of abandoned properties subject to a mortgage or properties subject to mortgages which are in default.
(Ord. 2009-01, adopted 2-18-09)