2005 AGN JUL 19 I13 - Laserfiche WebLink

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ITEM #13 REDEVELOPMENT AGENCY FOR THE CITY OF COLTON For the Redevelopment Agency Board Meeting of July 19, 2005 TO: Honorable Chairperson and Boardmembers FROM: Candace E. Cassel, Redevelopment Directo SUBJECT: Consideration and Approval of Agency >esolution 843 Authorizing the Executive Director to Apply for the Purchase of Tax Defaulted Property Under Chapter 8 of the Revenue and Tax Code and to Negotiate a Price on Behalf of the Redevelopment Agency DATE: July 6, 2005 BACKGROUND On June 30, 2005 Assessor Parcel No. 0161-221-70, Attachment A, became tax delinquent and therefore, eligible for tax sale through Chapter 8 of the Revenue and Tax Code. Pursuant to Chapter 8, a Redevelopment Agency may submit a letter objecting to the sale of tax defaulted property and file a request to purchase it. The Redevelopment Agency must intend to use the property to preserve or construct residential properties for low-income persons, or for public use. On February 20, 2001 the Agency approved Resolution 769 authorizing the same type of request on Assessor Parcel No. 0161-221-03, located next to this one at the northwest corner of Mt. Vernon and Colton Ave. The Deed was recorded on January 23, 2004. The Agency also purchased Assessor Parcel Nos. 0161-221-04, 05, 06, and 37 through a Sheriff's Sale on August 21, 2003 due to delinquent CFD 90-1 taxes. Deeds were recorded January 23, 2004. DISCUSSION/ANALYSIS The City and Agency have decided to assemble properties at the northwest corner of Mt. Vernon and Colton Ave. in order to develop a low -mod housing complex. Five parcels have been acquired to date totaling 2.54 acres. Parcel No. 0161-221-70 is a very small triangular one that would be instrumental in obtaining for development purposes. If it is not purchased, it will become land locked and could make development more difficult. The Agency has discussed purchasing the property with the County Tax Collector and a letter will be sent to them indicating the Agency's intentions. This letter will start the Chapter 8 process and then the following will take place: • The County Tax Assessor will request information including an application to purchase the property, the Mt. Vernon Corridor Project Area description and map, Redevelopment Agency Mission Statement, and this Resolution. • The County Board of Supervisors approves the sale. • The State Controller approves the sale. R: Administration tileet1ncs?00_� "diAl 1IN(,;S .lily 19. 00� tai Sale Staff Report 071905.doc