TITLE
Recommendation to adopt resolution authorizing the acquisition of tax-defaulted property, Assessor Parcel No. 7208-014-010, in the City of Long Beach from the County of Los Angeles;
Authorize City Manager to execute a Chapter 8 Agreement and any and all documents necessary for the acquisition of the tax-defaulted property; and
Authorize City Manager to execute all necessary documents for the conveyance of Assessor Parcel No. 7208-014-010 to The Long Beach Housing Development Company. (District 6)
DISCUSSION
In November 2008, the Los Angeles County Treasurer and Tax Collector (County) released a list of properties to be included in the 2009A Public Tax Auction (Auction). These properties have been tax-defaulted for non-payment of property taxes and deemed Subject to Power to Sell by the County. Prior to conducting the Auction, the County grants local governmental agencies an opportunity to request acquisition of these properties, as allowed under the California Revenue and Taxation Code, Division 1, Part 6, Chapter 8, which outlines the provisions for the acquisition of properties by a public agency if a public need can be determined (Chapter 8 Agreement).
City of Long Beach (City) staff has reviewed and identified one vacant parcel for City acquisition, located at 2331 Locust Avenue, Assessor Parcel Number 7208-014-010. Please see the attached Site Map (Exhibit A). The Long Beach Housing Development Company (LBHDC) has requested this parcel in order to construct one single family home for re-sale to low/moderate income homebuyers. Upon acquisition by the City, this parcel will be conveyed to LBHDC with construction to proceed. The purchase price of the parcel from the County is approximately $20,517, which represents the amount of delinquent property taxes and penalties owed on the parcel. Additional fees of approximately 20 percent, or $4,103, will be charged for administrative and processing costs, for a total cost of $24,620.
On behalf of the ...
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