Agenda - Council - 10/14/1997 - Laserfiche WebLink

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payable with interest through the years 2000 and 2001. When checking at the County we were informed that this parcel is current on all taxes and assessments as of September 25, 1997~ knowing that the second half of 1997 was not yet payable (total 1997 taxes and specials total $25,825.96). PIN #25-32-25-43-0059 The County has determined the market value of this property to be $144,800.00 The annual principal amount of the assessments on this'property total 423,037.44 (does not include interest) and is payable with interest through the years 1998 and 2000. This parcel on the other hand is currently in its "year-of-redemption" under the tax forfeiture proceedings. There have been no payments to the County for taxes or specials since 1993. The 1994 - 1997 payments ($160,372.22 which does not include the second half of 1997) are delinquent causing this property to be in jeopardy of being sold as a tax forfeiture parcel. In conversations with the County, it came to light that the property owner has the opportunity to approach the County under a "confession of judgment" and work out a payment plan to pay the delinquent amounts, stay current on existing payments, and avoid tax forfeiture proceedings. It was also the recommendation that the City not abate the delinquent and future assessments and re- certify due to the fact that if the property did go tax forfeit after abatement the City would have no recourse to collect on the special assessments. In the event that there is no abatement and the property does go tax forfeit, there is the possibility of at least collecting some if not all of the outstanding assessments if and when the property would be auctioned. Enclosures: For Parcel 25-32-25-31-0005: Master inquiry screen Special assessments screen For Parcel 25-32-25-43-0059: Master inquiry screen Special assessments screen Staff will review these enclosures with Council at the meeting Staff Recommendation: Based on the aforementioned information it is staff's recom- mendation that Mr. Raudio be advised to contact the County and proceed with the "confession of judgment" process thereby avoiding the forfeiture and prove the City with some guarantee that the special assessments would be paid. I I I I I I I I I I I I I I I I I I I