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BOOK 5 FAGS 4$ <br />The property is presently appraised by the Appraiser's Office at <br />around $50,000, and so there is the potential for the County to <br />collect proceeds on this fine if others bid the price up, or if the <br />County purchases the property and then is able to sell it for an <br />amount exceeding the purchase price. <br />Alternatives <br />1. Forego bidding at the judicial sale, thereby possibly having all <br />of our claim extinguished, after which the County Planning and Zoning <br />Department would likely initiate a new Code Enforcement Board <br />Proceeding against the purchaser to correct the zoning violation which <br />continues to this date. <br />2. Bid at the judicial sale in order to drive up the price of this <br />property to a level which would generate a surplus from which some or <br />all of the County's fine could be collected, with the inherent risk <br />that the County may be the high bidder and thereby be forced to <br />purchase this property. If this alternative is chosen, staff would <br />request some direction as to how high staff should bid. <br />Mr. Thanas and myself will be available at the meeting to discuss this <br />item and provide any additional information necessary. <br />Attorney Paull reviewed the various alternatives, <br />noting that this item was put on the agenda to advise the <br />Board that our junior lien would be wiped out at the <br />foreclosure sale unless someone is there to bid'the property <br />up over what the first mortgage will require. One option is <br />to appear at the foreclosure and bid, but if we are high <br />bidder, we could be stuck and we would have to have the <br />property cleaned up and sell it. Another option is not to <br />bid and possibly it will be bid up by others. Finally, if <br />our fine is wiped out, we can go in and start over with <br />another Code Enforcement case. He noted that the first <br />mortgagee wants $28,000, and,the property is appraised at <br />$52,000. There is some room for profit, but we don't have <br />any idea who would be bidding. <br />Discussion ensued regarding the condition of the <br />property, and Attorney Paull did not believe it is improved <br />other than a little shed; it is covered with junk cars and <br />it is fenced in, but some of the junk is outside the fence, <br />which is a violation. He believed most of the value is in <br />the land, which consists of about 9 acres located just on <br />the south side of Gifford. Park. <br />W-1 <br />M s M <br />