Title
Rescind Resolution 287-18 Authorizing the Sale of Surplus Foreclosure Property Located at 1516 Tucker Street to Tarig Mushaw
Body
Council Priority: Create an Environment to Promote Economic Development Opportunities and Job Creation
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: Ute Munro, 373-2302
PURPOSE:
City Council approval is requested to rescind their resolution approving the sale of property owned by the City located at 1516 Tucker Street, Parcel 18848. The buyer is unable to complete the purchase.
BACKGROUND:
Property Management has advertised this property since August 2018. The highest bid from Tarig Mushaw 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 Ritchy, an independent appraiser, at $6,700. The highest and final bid of $6,030 was accepted and advertised in the News & Record with a 10 day upset period. This upset period expired with no further bids. Property Management requested and received City Council approval for that sale on November 20, 2018 (Resolution 287-18).
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 7,405 Sq. Ft. (.17 acre). The property is zoned R-5, Residential Single-family 5.
The property will be put back on the market for sale.
BUDGET IMPACT:
The deposit of $603.00 will be refunded to Tarig Mushaw from Foreclosure Account
#101-0000-00.3345.
RECOMMENDATION / ACTION REQUESTED:
The Property Management Section of the Engineering and Inspections Department recommends that City Council rescind the Resolution 287-18 from November 20, 2018.