Agenda

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County Administrator's Report 11. 10.

BCC Regular Meeting

Technical/Public Service Consent

Meeting Date:	05/19/2016
Issue: Resolution Waiving and Releasing Rights and Interests in the Lamplighter Apartment Complex
From:	Amy Lovoy
Department:	County Administrator's Office
CAO Approval:

RECOMMENDATION:

Recommendation Concerning the Resolution Waiving and Releasing Escambia County's Rights and Interests in the Property Formerly Known as the Lamplighter Apartment Complex - Amy Lovoy, Assistant County Administrator

That the Board approve and authorize the Chairman to sign the Resolution waiving and releasing the rights and interests of Escambia County in the property formerly known as the Lamplighter Apartment Complex, as codification of Board action approved on February 7, 2013.

BACKGROUND:

On April 29, 2013, the property formerly known as the Lamplighter Apartment Complex was purchased at foreclosure sale by Deancurt Pensacola LLC, now Chapins Willow Crest LLC. Due to the issuance of conduit bonds approved by Escambia County in 1996 for the Lamplighter Apartment project, the County had the option to payoff the outstanding bonds and take possession of the property prior to the the property going into foreclosure in 2013. At the February 7, 2013 BCC meeting, the Board approved the rejecting of its right to purchase the property and the trustee was notified by Board staff, allowing the foreclosure sale to proceed. The buyer has now requested that the Board more formally state the waiving and releasing of any and all remaining rights and interests that the County may hold in the property, thus the need for the Resolution.

BUDGETARY IMPACT:

N/A

LEGAL CONSIDERATIONS/SIGN-OFF:

The Resolution was prepared and approved as to form and legal sufficiency by Stephen West, Assistant County Attorney, of the County Attorney Office.

PERSONNEL:

N/A

POLICY/REQUIREMENT FOR BOARD ACTION:

N/A

IMPLEMENTATION/COORDINATION:

Board staff will provide a copy of the Resolution to all necessary entities, if approved by the Board.

Attachments
Lamplighter BCC Approval fr 02/07/2013
Resolution