Action 11.
Regular Board of Supervisors Meeting
Board of Supervisors
- Meeting Date:
- 06/21/2011
- Title:
- Approve Over The Counter Tax Deed Land Sales
- Submitted By:
- Katie Howard, Board of Supervisors
- Department:
- Board of Supervisors
Presentation:
No A/V Presentation
Recommendation:
Document Signatures:
# of ORIGINALS
Submitted for Signature:
Submitted for Signature:
NAME
of PRESENTER:
of PRESENTER:
Katie Howard
TITLE
of PRESENTER:
of PRESENTER:
Clerk of the Board
Mandated Function?:
Source of Mandate
or Basis for Support?:
or Basis for Support?:
Agenda Item Text:
Approve the over-the-counter sales of tax deed properties remaining unsold following the June 6, 2011 Land Auction in the amount of $10,700 as set forth in the attached Parcels Sold Report, plus administrative fees of $600.
Background:
Following the June 6, 2011 land auction, staff immediately posted the Unsold Parcels on the county's website and began accepting over-the-counter (OTC) bids. The OTC bids received to-date total $10,700, plus $600 in administrative fees, for a total of $11,300 in additional income to the General Fund. These OTC sales, if approved, when added to the Auction proceeds of $80,900 equal a year-to-date total of $92,200 in sales.
Our 10-11 Fiscal Year target was $100,000. We will continue to accept OTC bids on the remaining properties. This year's Auction list initially had 1,857 parcels on it; there are less than 100 parcels remaining unsold.
UPDATED INFORMATION: The total admin fees collected was actually $450, not $600. Three purchases were made jointly and staff only charged one $75 admin fee. Therefore the total income from OTC Sales for this meeting is $11,150: $10,700 in parcel/unit sales and $450 in admin fees, as reflected on the reconciliation sheet attached.
Our 10-11 Fiscal Year target was $100,000. We will continue to accept OTC bids on the remaining properties. This year's Auction list initially had 1,857 parcels on it; there are less than 100 parcels remaining unsold.
UPDATED INFORMATION: The total admin fees collected was actually $450, not $600. Three purchases were made jointly and staff only charged one $75 admin fee. Therefore the total income from OTC Sales for this meeting is $11,150: $10,700 in parcel/unit sales and $450 in admin fees, as reflected on the reconciliation sheet attached.
Department's Next Steps (if approved):
Deposit checks. Ensure all notarized forms required are received. Once funds have cleared, issue deeds.
Impact of NOT Approving/Alternatives:
The General Fund will not receive the additional $11,300 in revenue from OTC sales and the parcels will not be returned to the tax roll.
To BOS Staff: Document Disposition/Follow-Up:
See above