To

Mayor and Council

Subject

Acceptance of Deed to Property ? 5836 Pratt Avenue, Subsequent Transfer to the Land Bank Authority

Initiator

Department of Community Reinvestment

Recommendation

Approval is requested to accept the property located at 5836 Pratt Avenue. \n \n Further approval is requested to transfer the property to the Land Bank \n \n Authority.

Approval

Pending

Background

In June 1999, the City made a loan to Ms. Betty Jean Watson from CDBG funds.

The loan was made as part of the relocation process for businesses relocated

from 1st Avenue through the Section 108 redevelopment program. The property

located at 5836 Pratt Avenue was used to secure the loan. In December 2003 Ms.

Watson died having not repaid the loan. The property was foreclosed on by the

City in November 2012 due to the non-repayment of the loan made to Ms. Watson.

Analysis

Despite request for repayment of the loan and the subsequent death of Ms

Watson, the City had to foreclose on the property. The property will be

transferred to the Land Bank Authority for resale.

Financial Considerations

The initial loan proceeds, in the amount of $46,000.00, were made possible by

the securing of the loan with this property. The subsequent transfer/resale of

the property will help generate proceeds to provide funding for the ongoing

activities of the Land Bank Authority.

Projected Annual Fiscal Impact Statement

The City Council must formally accept the transfer of the property to the City

and approve the subsequent transfer to the Land Bank Authority.

Legal Considerations

No financial impact is anticipated.

Recommendations/ Actions

Approve the resolution authorizing the acceptance of the property located at

5836 Pratt Avenue and the subsequent transfer of the property to the Land Bank

Authority.















A RESOLUTION

NO. _____



A RESOLUTION AUTHORIZING THE ACCEPTANCE OF A DEED TO THE PROPERTY

LOCATED AT 5836 PRATT AVENUE AND THE SUBSEQUENT TRANSFER OF THE PROPERTY FROM

THE CITY TO THE LAND BANK AUTHORITY.



WHEREAS, Betty Jean Watson, by Security Deed dated June 11, 1999, and duly

recorded on June 11, 1999, in the Office of the Clerk of the Superior Court of

Muscogee County, Georgia in Deed Book 5300, Page 291, 5836 Pratt Avenue,

conveyed to Columbus, Georgia the hereinafter described real property to secure

the debt in said Security Deed specified, which debt was evidenced by a Note of

even date; and,



WHEREAS, Betty Jean Watson died, presumably, intestate, on December 7, 2003,

which date, under the terms of such Note, is being established as the maturity

date for same, from which maturity date interest at the rate of 15% simple,

fixed interest, per annum, is due, together with the principal sum due

thereunder of $46,000.00, none of which, despite demand for the payment

thereof, has been paid, in whole, or in part, to date; and,



WHEREAS, said default has continued without payment, and the entire

indebtedness, as evidenced by said Note and as secured by said Security Deed,

has been declared due and payable by Columbus, Georgia, all as authorized in

said Note and Security Deed, with Notice thereof having been provided to all

interested parties by Memorandum dated September 12, 2012; and,



WHEREAS, the Columbus, Georgia did expose said land for sale to the highest

bidder for cash on the first Tuesday in November, 2012, to-wit: Tuesday,

November 6, 2012, within the legal hours of sale at the usual place for

conducting Sheriff's sales in Columbus, Muscogee County, Georgia before the

Courthouse door at Columbus, Muscogee County, Georgia, and offered said

property for sale at public outcry to the highest bidder for cash; and,



WHEREAS, in consideration of the premises and said sum of money and by virtue

of money and by virtue of and in the exercise of the power of sale contained in

the aforesaid Security Deed, Columbus Georgia has bargained, sold, granted and

conveyed, and by these presents does hereby bargain, sell, grant and convey to

Columbus, Georgia, and assigns, all that tract or parcel of land lying and

being in Columbus, Muscogee County, Georgia, more particularly described as

follows, to-wit:



All that lot, tract and parcel of land situate, lying and being in the State of

Georgia, County of Muscogee, and City of Columbus and being known and

designated as ALL OF LOT NUMBERED ONE (1), in BLOCK LETTERED ?A?, REGAL MANOR,

as said lot is shown upon a map or plat of said subdivision dated March 28,

1955, made by Aldridge, Moon, Russell & King, Civil Engineers, and recorded in

Plat Book 12, Folio 133, in the Office of the Clerk of the Superior Court of

Muscogee County, Georgia, to which reference is made for a more particular

location and dimension of said Lot 1. Located thereon is house #5836 Pratt

Avenue, according to the present numbering of houses in Columbus, Georgia.



Together with all and singular the rights, members and appurtenances thereto

appertaining; also, all the estate, right, title, interest, claim or demand of

the said BETTY JEAN WATSON, deceased, and her estate, heirs, beneficiaries,

executors, administrators, personal representatives, successors, and assigns,

legal, equitable or otherwise whatsoever, in and to the same.



TO HAVE AND TO HOLD the said premises and every part thereof unto the said

Columbus, Georgia, and its successors and assigns, to Columbus, Georgia?s own

property use, benefit and behoof in FEE SIMPLE, in as full and ample a manner

as the said BETTY JEAN WATSON, deceased, and her estate, heirs, beneficiaries,

executors, administrators, personal representatives, successors, and assigns,

did hold and enjoy the same.



NOW, THEREFORE, THE COUNCIL OF COLUMBUS, GEORGIA, HEREBY RESOLVES AS FOLLOWS:



That certain Deed dated _________ conveying to Columbus, Georgia the property

located at 5836 Pratt Avenue and the same described above, is herby accepted.

The Council further resolves that the property shall be subsequently

transferred to the Land Bank Authority. The Clerk of Council is herby

authorized to have said Deed recorded in the Deed Records in the Office of the

Superior Court of Muscogee County, Georgia. A copy of the Deed is hereto

attached and by this reference made a part of this resolution.

Introduced at a regular meeting of the Council of Columbus, Georgia,

held the _________day of _____________, 2012 and adopted at said meeting by the

affirmative vote of ____________members of said Council.



Councilor Allen voting __________.

Councilor Baker voting __________.

Councilor Barnes voting __________.

Councilor Davis voting __________.

Councilor Henderson voting __________.

Councilor Huff voting __________.

Councilor McDaniel voting __________.

Councilor Thomas voting __________.

Councilor Turner Pugh voting __________.

Councilor Woodson voting __________.





_______________________________ ___________________________

Tiny B. Washington, Clerk of Council Teresa Pike Tomlinson, Mayor

No attachments for this document.