File #: ID 16-0009    Version: 1 Name:
Type: Resolution Status: Passed
File created: 12/7/2015 In control: City Council
On agenda: 1/19/2016 Final action: 1/19/2016
Title: Resolution Authorizing the Sale of Surplus Foreclosure Property Located at 1005 Bellevue Street
Attachments: 1. Sitemap 1295 (1005 Bellevue St).pdf, 2. Vicinity 1295 (1005 Bellevue St).pdf, 3. 16-0009 Reso. Belevue Street.pdf

 

Title

Resolution Authorizing the Sale of Surplus Foreclosure Property Located at 1005 Bellevue Street

 

Body

Department: Engineering & Inspections

Council District: 2

 

Public Hearing: N//A

Advertising Date/By: N/A

 

Contact 1 and Phone: Kenney McDowell: 373-2302

Contact 2 and Phone: Ted Partrick: 373-2302

 

PURPOSE:

The Property Management Section of the Engineering and Inspections Department is in the process of selling surplus land consisting of a residential lot located at 1005 Bellevue Street, parcel #0003238. It has been determined that there is no municipal need for the property. City Council approval is requested to proceed with the sale of the property to the highest bidder.

 

BACKGROUND:

Property Management has advertised this property since May 2010. The highest bid from Y. Claretta Sutton was accepted in accordance with Section 4:122 of the City Code of Ordinances, “Sale of real property by advertisement for bid”. The property was recently valued by Lynn B. Ritchy, an independent appraiser, at $3,500. The highest and final bid of $3,175 was accepted and advertised in the News & Record with a 10 day upset period. This upset period has expired with no further bids.

 

The property was acquired by a commissioner’s deed through the foreclosure process. It has been determined that there is no municipal need for the property. The total area of the lot is 7,000 Sq.Ft. (.16 acre). The property is zoned R-5, Single-family Residential.

 

The accepted sales price surpasses the Department’s policy requiring that sales price be at least 90% of the appraised value of properties.

 

BUDGET IMPACT:

The proceeds from the sale of this property will be credited to the foreclosure accounts receivable #101-0000-00.0400 of the General Fund. Once all costs related to the advertising, property transfer fees, and maintenance are paid, any net remaining amount will be recorded as revenue from the sale of the property.

 

RECOMMENDATION / ACTION REQUESTED:

The Property Management Section of the Engineering and Inspections Department recommends that City Council approve and authorize the sale of surplus property at 1005 Bellevue St.

 

COMMITTEE ACTION:  This item was referred to Council by the Infrastructure Committee.