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A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE A SETTLEMENT AGREEMENT AND RELEASE OF LIENS BETWEEN THE CITY OF POMPANO BEACH AND 815 39TH STREET EAST CORP. PERTAINING TO VACANT LOT LOCATED AT 3060 NW 3 STREET AND ACCEPT CONVEYANCE OF SAID PROPERTY; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: $5,117)
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(Staff Contact: Fawn Powers/Cassandra LeMasurier)
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Summary Explanation/Background:
Request approval of Settlement Agreement and Release of Liens and accept conveyance of the property located at 3060 NW 3rd Street to resolve City’s pending foreclosure action against the owner 815 39th Street East Corp. The property is a 5,154 square foot vacant lot, zoned RS-4, which will be used for the construction of affordable housing by the Office of Housing and Urban Improvement.
Origin of request for this action: Staff
Fiscal impact and source of funding: $4,678 property taxes; $500 settlement fee Affordable Housing Trust Acquisitions With & W/O Rehab 132-8210-588.84-53
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RStrategic Plan Initiative
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To have quality, affordable housing options for all family generations, including senior housing