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CL-2629 New Business   Item #: E.       
Meeting Date: 10/19/2021  
Subject:    Consideration of the City Releasing Liens Against Colquhoun Street Properties
From: W. Clarke Whitfield, Jr.

COUNCIL ACTION
Business Meeting:     10/19/2021
SUMMARY
City Staff is seeking approval from City Council to release thirty-three (33) nuisance abatement liens affecting three (3) parcels of land on Colquhoun Street to facilitate its sale to a new owner, and partial payoff.
BACKGROUND
The City currently holds approximately $40,000.00 in nuisance abatement liens against three (3) contiguous Parcels on Colquhoun Street, across from Doyle Thomas Park, identified as Parcels #20725, #21571, and #23906. The liens greatly exceed the market value of the Parcels.
 
The present owners of the Parcels are heirs who inherited the Parcels subsequent to most of the liens already having been recorded. These owners have arranged a potential sale of the Parcels to a prospective buyer that does not have any history of nuisances within the City, for a sale price of approximately $26,000.00. The present owners desire to pay all potential sales proceeds to the City. The potential purchaser intends to develop the Parcel, increasing its taxable value. The sale is dependent upon the City releasing the recorded nuisance abatement liens to allow marketable title.

Under State law, City Council can release nuisance abatement liens to facilitate the sale of an otherwise unmarketable lot. City Staff has determined that releasing the outstanding nuisance abatement liens to facilitate the property sale would be of benefit to the City by eliminating likely future maintenance costs, increasing the taxable value of the Parcels, and enabling the owner to pay the City a majority of what is owed to it. 
RECOMMENDATION
City staff recommends releasing the existing liens affecting Parcel #20725, #21571, and #23906, contingent upon the actual sale of the Parcels and the payment of all sales proceeds to the City of Danville.

Attachments
Resolution


    

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