RRA - Item 2 - Acquisition of tax defaulted land - 4623 Earle Avenue11
TO: HONORABLE PRESIDENT
AND MEMBERS
RO EMEAD HOUSING DEVELOF
FROM: ;FRANK G. TRIPEPI, EXECUTIVE
DATE: FEBRUARY 1, 2000
RE: ACQUISITION OF TAX DEFAULTED LAND - 4623 EARLE AVENUE
Attached for the Corporation's consideration is a Chapter 8 agreement for the possible
acquisition of property that will be sold by the County of Los Angeles at a public tax auction.
The County provides city, county and state agencies the opportunity to acquire certain properties
that ate listed on the Power to Sell list, before they go to public auction.
Staff has reviewed the list that was mailed out by the County on December 30, 1999: The cover
letter attached to the list indicates that if the agency (city, county or state) can justify the use of
the property for a public use, the Los Angeles County Board of Supervisors will sell the property
to the agency for the minimum bid price. The minimum bid price for this parcel,(located on
Earle Avenue, between Mission and Wells) is $64,525.00. The current property owner will
receive a notice of the intent of the Housing Corporation to purchase the land and any
improvements.
The subject 12,000 square foot property is zoned R-1 and suited for residential development.
The dimensions of the lot are 60 x 200 feet.
The owner has twenty-one days from publication of notice of the intended agreement between
the Corporation and County to pay all back taxes, late fees, interest, etc. to redeem his property.
If the owner does redeem the property, then the agreement for the Corporation to acquire the
property is null and void.
RECOMMENDATION
It is recommended that the Corporation approve the agreement and authorize the President to
sigh the agreement with Los Angeles County.
CcstaO:aegmsition4623eade
HOUSING AGENDA
FEB 0 8 2000
ITEM No. 4. _