HomeMy WebLinkAboutITEM V-C-1w
WASHINGTON
AGENDA BILL APPROVAL FORM
Agenda Subject: Date:
Bad Debt Write Off Februa 13, 2007
Department: Attachments: Budget Impact: 0
Finance
Administrative Recommendation:
City Council approve the write-off of LID No. 337-006-B in the amount of $190,624.40.
Background Summary:
LID No. 337-006-B
Tax Parcel No. 1321049104
Owner: King County
King County acquired Parcel No. 1321049104 (Lund Street Property) due to delinquent real property
taxes in 1992. The City of Auburn purchased the parcel from King County on September 19, 2006 for
$180,000.
The City has assessed local improvement district liens against the property which came due March 10,
1997. The LID balance is $101,339.90 principal, $68,860.44 interest and $20,424.06 penalties.
As the City now owns parcel No. 1321049104 staff recommends writing off the total balance of LID 337-
006-B in the amount of $190,624.40.
N0220-1
F4.12,
Reviewed by Council & Committees: Reviewed by Departments 8~ Divisions:
^ Arts Commission COUNCIL COMMITTEES: ^ Building ^ M&O
^ Airport ®Finance ^ Cemetery ^ Mayor
^ Hearing Examiner ^ Municipal Serv. ®Finance ^ Parks
^ Human Services ^ Planning & CD ^ Fire ^ Planning
^ Park Board ^Public Works ^ Legal ^ Police
^ Planning Comm. ^ Other ^Public Works ^ Human Resources
^ Information Services
Action:
Committee Approval: ^Yes ^No
Council Approval: ^Yes ^No Call for Public Hearing _/_/
Referred to Until _/_/
Tabled Until _/_/_
Councilmember: Backus Staff: Coleman
Meetin Date: Februa 20, 2007 Item Number: V.C.1
At~$v~r.N * MARE THAN YOU IMAGINED