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County Administrator's Report 11. 2.

BCC Regular Meeting

Budget & Finance Consent

Meeting Date:	01/05/2012
Issue: Sale of Real Property Located at 110 North Merritt Street
From:	Amy Lovoy
Department:	OMB
CAO Approval:

RECOMMENDATION:

Recommendation Concerning Reduction of Minimum Sales Price of Real Property Located at 110 North Merritt Street, Due to the Property Appraiser’s Re-assessed Value - Amy Lovoy, Management and Budget Services Department Director

That the Board take the following action concerning the reduction of the minimum bid required for the sale of real property located at 110 North Merritt Street, due to the Property Appraiser’s re-assessed value:

A. Authorize the sale of real property, Account Number 08-1454-000, Reference Number 50-2S-30-5091-011-008, to the bidder with the highest offer received at or above the reassessed minimum bid of $17,557, in accordance with Section 46.134 of the Escambia County Code of Ordinances, without further action of the Board; and

B. Authorize the Chairman to sign all documents related to the sale.

BACKGROUND:

Escambia County acquired this property by governmental foreclosure in October 2005. The Board declared the property surplus and authorized its sale February 2010 with a minimum bid of $32,207. In 2011, the Property Appraiser re-assessed the value to $17,557 because the house requires a substantial amount of maintenance. The County has no need for this property.

BUDGETARY IMPACT:

Sale of this property will provide revenue for the General Fund.

LEGAL CONSIDERATIONS/SIGN-OFF:

All legal documents will be approved as to form and legal sufficiency by the County Attorney’s Office prior to execution by the Chairman. The purchaser will pay all closing costs.

PERSONNEL:

POLICY/REQUIREMENT FOR BOARD ACTION:

Escambia County Ordinance, Section 46.134.

IMPLEMENTATION/COORDINATION:

Attachments
110 N Merritt reduc $ backup