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CASSELBERRY CITY COMMISSION Minutes of May 14, 2012 — Regular Meeting Page 12 of 23 due total approximately $1,118. CE -08-03617 Disabled/abandoned vehicles CE -08-03616 Damaged windows, doors, skylights CE -08-03615 Trash and debris CE -09-03078 Overgrown property CE -11-01667 Hot and cold water supply The fines total $142,395.00. The City has exhausted all other reasonable means to collect the fines associated with the properties submitted for foreclosure. The City has previously acquired properties through foreclosure action at 541 Lilac Rd. and 1037 Bluebell Dr. In addition, the City has acquired the property at 1104 Timberland Trail by accepting the transfer of the property to satisfy code compliance liens. The City Commission recently approved foreclosure action against the property located at 317 Sunset Drive. Budget Impact: The total cost of foreclosure may vary for each property; however, a reasonable estimate is $5,000 per property for legal fees, title search, service, and execution of the final foreclosure judgment, or a total projected expense of $15,000.00. In addition, outstanding taxes on two of the properties combined are approximately $4,172. The total accumulated property value for these three properties based on the 2012 Seminole County Property Appraiser's website is $160,175.00; therefore, the City's costs should be recaptured upon sale of the properties. Code Compliance fines/liens collected for the current fiscal year is $128,558.00 - adequately providing funding to pursue this legal action. Recommendation: The Interim City Manager and the Community Development Director recommended approval to forward these properties to the City Attorney for foreclosure. O. Appropriation of Funds to the Casselberry Community Redevelopment Agency and Related Budget Amendment #12-050 Introduction: Consideration to appropriate funds to the Casselberry Community Redevelopment Agency in the amount of $350,000 for property acquisition and $150,000 for other economic opportunity incentives and related Budget Amendment #12-050 is requested. Budget Impact: Funding for these allocations will be established in the Land/General account 113-0210- 515.61-07 for $350,000 and Other Economic Opportunity Incentives Account 113-0210-515.49-11 for $150,000 and will be coded from the Other Non -Operating Sources Account 113-0000-389.90-00. BA #12-050 Explanation of Request: This item seeks City Commission approval to appropriate funds for the Casselberry Community Redevelopment Agency for property acquisition within the Community Redevelopment District. Account Number Account Description Amount Increase: 113-0000-142.00-00 Land Held for Resale $350,000