10 - Release of Lien and Waiver Request - 503 W. Washingtron

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Mr. Pena has requested that the City Council 1) forgive the owed expense on the lien and 2) release the lien on the property. The City Manager has developed a process he goes through for considering when to forgive principal and/or interest for Nuisance Liens. It is not perfect, but this procedure allows him to remain fairly consistent each time. Given there are so many different factors and scenarios involved with properties all over town, the City Manager attempts to adhere totwo goals: 1. Protect the taxpayer dollar — resist forgiving liens whenever possible given taxpayers had expense in maintaining the property, while 2. Finding a way to get the property in to the hands of someone who will maintain — possibly develop — the property, thus alleviating the taxpayers of having to further maintain the 1� Taking in to consideration both goals, the City Manager's analysis in this situation is as follows: the value of the lien (principal + interest) greatly exceeds the value of the property, although the value of the property exceeds the value of the principal of the lien. The property is zoned 2F and it appears to be appropriately sized for a house if one were to be built, The owner has supposedly passed away while a neighbor is interested in obtaining and maintaining this property. This property has however been maintained in the past, taxes paid, and no other nuisance violations have been recorded, therefore there are no issues that would require tax foreclosure. This property does not it could easily become one. Options will be presented below. There is no new expense to the City in this situation to agree to releasing and forgiving the lien, �1111iffi , 1 1 1: 1�i` 1. Approve a Resolution for the waiver of the January 11, 2013 Structure Lien for 503 W Washington Street. 2. Approve a Resolution for the waiver of a portion of the January 11, 2013 Structure Lien for 503 W Washington Street.