TITLE
Recommendation to adopt resolution authorizing the acquisition of tax-defaulted properties, consisting of Assessor Parcel Numbers 7070-017-004, 7130-026-005, 7186-006-005, 7235-018-020, and 7241-012-117, in the City of Long Beach from the County of Los Angeles; authorize City Manager to execute a Chapter 8 Agreement with any and all documents necessary for the acquisition of these tax-defaulted properties; and authorize City Manager to execute all documents necessary for the conveyance of Assessor Parcel Numbers 7070-017-004, 7130-026-005, 7186-006-005, 7235-018-020, and 7241-012-117 to the Long Beach Housing Development Company. (Districts 4,5,8)
DISCUSSION
In December 2006, the Los Angeles County Treasurer and Tax Collector (County) released a list of properties to be included in the 2007A 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 via a Chapter 8 Agreement (Agreement), if a public need can be determined. An Agreement is provided 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.
City staff has reviewed the list of properties and identified five parcels for City acquisition. All five parcels have been requested by The Long Beach Housing Development Company (LBHDC) for the development of affordable housing. Upon acquisition by the City, these five parcels will be conveyed to LBHDC. A list of the parcels and acquisition costs is attached as Attachment "A" with corresponding maps as Attachment "B." Additional fees of approximately 15 percent will be charged for each parcel for administrative and processing costs.
The Department of Community Development, on behalf of the City, submitted a written...
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