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Item 13.B. <br />Foreclosure: Factors to Consider <br />• Litigation costs: TBD <br />• Lawsuit Filing Fee: $905 <br />• To clear title: $2,500 - $4,000 <br />• name previous owners listed in the chain of title as defendants <br />• Most previous owners are dissolved LLCs. Directors would have to be found and <br />served. If the previous owners are deceased, their heirs would have to be located and <br />named as defendants. <br />• County could prosecute the case, have the Property auctioned for sale only <br />to have a 3rd party purchase the Property at the auction. <br />• The third party purchaser may have plans for the Property other than <br />affordable housing or hold the Property as an investment for the future and <br />the County would not be able to control the future use of the Property. <br />Funding <br />Funding will be provided via budget amendment from General <br />Fund/Cash Forward Oct 1st. <br />1311.6 <br />