TO: Mayor and Members of City Council
THRU: Kristoff T. Bauer, Deputy City Manager
FROM: Kecia N. Parker, NCCP, Real Estate Manager
DATE: August 13, 2018
RE:
Title
Resolution Authorizing a Quitclaim Deed of the City's Title to the County in Order to Expedite the Sale of Land
end
COUNCIL DISTRICT(S):
Council District(s)|109|
b
Relationship To Strategic Plan:
A Desirable Place to Live, Work and Recreate
Executive Summary:
Cumberland County has requested that the City of Fayetteville quitclaim their interest in the parcel located at 504 Carteret Place so that they may complete the sale of the jointly owned property that was acquired by tax foreclosure. This allows the property to be added back to the tax base and not continue to remain in joint governmental ownership. The City will collect $440.40 in assessments once the sale is complete.
Background:
Cumberland County and the City of Fayetteville received joint title to the property identified by tax parcel id number 0520-94-5534 on July 22, 2008, May 4, 2017, October 2, 2012. The County has received an offer to purchase the property in the amount of $9,226.29. The City will receive $440.40 in assessments due from that purchase price. To expedite the sale process, the County is requesting that the City declare the above property surplus and quitclaim the City's interest to the County. Title is jointly held due to tax foreclosure by the County in their capacity as tax administrator. The purchase offer received is equal to the foreclosure bid. If the present bid is declined, the property will remain in joint ownership not earning taxes and requiring upkeep.
Issues/Analysis:
No known issues.
Budget Impact:
There is no significant impact to the budget; however this will enable the property to be added back to the tax roll.
Options:
* Accept the County's request to declare the property surplus and quitclaim the City's title to the County according to the Resolution attac...
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