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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 MUNICIPAL LIENS BETWEEN THE CITY OF POMPANO BEACH; O’CONNOR HOLDINGS, LLC; BROWARD COUNTY; AND GOLD COAST PLAT PROPERTY OWNERS ASSOCIATION, INC. TO RESOLVE CITY’S PENDING FORECLOSURE ACTION AGAINST 1601 NW 15TH AVENUE; PROVIDING AN EFFECTIVE DATE
(Fiscal Impact: $250,000.00 paid to City of Pompano Beach)
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(Staff Contact: Fawn Powers)
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Summary Explanation/Background:
This Settlement Agreement you are being asked to approve would resolve the City’s pending foreclosure against a 10 acre industrial property which has served as a longstanding public nuisance and be in the best interests of the public and all named parties. Four Code Enforcement liens valued in excess of $3 million serve as the basis for this litigation.
Origin of request for this action: Fawn Powers
Fiscal impact and source of funding: Code enforcement revenue accounts
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