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84E. <br /> MEMORANDUM <br /> TO: Board of County Commissioners <br /> FROM: Dylan Reingold,County Attorney <br /> DATE: October 11,2019 <br /> SUBJECT: Waiver of Interest on Demolition Lien <br /> BACKGROUND. <br /> On July 31, 1998,Indian River County recorded a lien,which is found at Book 1224,Page 883,on the property located <br /> at 4231 24th Court (the "Property") for the demolition of a nuisance structure. The lien was for $2,957.54. The lien <br /> noted that the lien would accrue interest at a rate of 8.5%. Charles Gordon has obtained the property,which was initially <br /> owned by Tessie Lee Gordon, who he stated was his wife's grandmother. Mr. Gordon reached out to the County <br /> Attorney's Office about the lien. I explained that since the lien was for actual costs expended by Indian River County, <br /> staff was willing to support the waiver of interest, if he paid the initial demolition lien cost. Mr. Gordon is agreeable to <br /> the waiver of just the interest. <br /> The County Attorney's Office recommends that the Indian River County Board of County Commissioners ("Board") <br /> waive the interest, so long as the lien of$2,957.54 is paid within 120 days. Once paid, the County Attorney's Office <br /> recommends that the Board authorize the County Attorney's Office to prepare a release or satisfaction of the lien. <br /> FUNDING. <br /> Lien proceeds totaling $2,957.54 will be deposited into MSTU Fund/Building Demolition Liens Revenue account <br /> number 004038-369092. The costs of recording the satisfaction of the lien will be borne by Mr. Gordon. <br /> RECOMMENDATION. <br /> The County Attorney's Office recommends that the Indian River County Board of County Commissioners waive the <br /> interest,so long as the lien of$2,957.54 is paid within 120 days. Once paid,the County Attorney's Office recommends <br /> that the Board authorize the County Attorney's Office to prepare a release or satisfaction of the lien. <br /> 34 <br />