Title
Resolution Rescinding Resolution 96-14 Authorizing the Sale of Property Located at 2113 Tuscaloosa Street
Body
Department: Engineering & Inspections
Council District: 1
Public Hearing: N/A
Advertising Date/By: N/A
Contact 1 and Phone: Ted Partrick 373-2308
Contact 2 and Phone: Allen "Rocky" Jones 373-2871
PURPOSE:
City Council approval is requested to rescind their resolution approving a sale of a lot and home owned by the City located at 2113 Tuscaloosa Street. The buyer is unable to complete the purchase.
BACKGROUND:
After the foreclosure on a house and lot at 2113 Tuscaloosa Street for unpaid taxes, the executor of the former owner's estate requested approval to purchase the property back for the sum equal to all the City's costs of foreclosure and legal fees in accordance with North Carolina General Statute 105-376(c). Property Management requested and received City Council approval for that sale on April 15, 2014 (Resolution 96-14).
The property at 2113 Tuscaloosa Street (Guilford County Tax Parcel # 0013863) is zoned R-5 residential and is a 0.17 acre lot with a 768 square foot house. An appraisal by L. R. Appraisals (Lynn Richey) established a value for the entire property of $10,000. There is a Local Ordinance Housing Case on this property that will require approximately $30,000 worth of repairs. The buyer is unable to provide the extensive repairs.
The property will be advertised and go back up for public sale.
BUDGET IMPACT:
The deposit of $1,585.00 will be refunded.
RECOMMENDATION / ACTION REQUESTED:
The Property Management section of the Engineering & Inspection Department recommends that City Council rescind the Resolution 96-14 from April 15, 2014.