Title
Resolution to Amend the Fiscal Year 2022 City Council Approved Budget to Appropriate $16,703.91 from the Restricted Fund Balance to the Public Works Engineering Department in the General Fund to be Used for the Acquisition of a Cul de sac that is Part of Pennsylvania Avenue for Perpetual Right of Way
Purpose
PURPOSE/BACKGROUND:
The purpose of this resolution is to transfer to Public Works, for the acquisition of specific right of way, certain excess proceeds received from a tax sale that have since, in accordance with the law, been transferred to the General Fund.
Discussion:
The Treasurer conveyed to George L. Salyers (“Salyers”) an undeveloped .50 acre plot of land located off Pennsylvania Avenue and located in the City of Hampton, Virginia, identified as RPC #1003145 in the land records of the City of Hampton, Virginia through a non-judicial tax sale pursuant to Code of Virginia §58.1-3975. The sale to Salyers resulted in the excess proceeds in the amount of $16,703.91. In accordance with the law, those excess proceeds were held separate from all other City funds and accounted for in accordance with the Code of Virginia.
Code of Virginia §58.1-3975 provides that excess proceeds remain the property of the former owner, subject to the claims of creditors and may be claimed by the former owner by petition to the Treasurer. However, if no claim for payment of excess proceeds is made within two (2) years after the date of sale, the treasurer or other responsible office shall deposit the excess proceeds in the locality’s general fund. More than two (2) years have passed since the sale to Salyers, and no claim has been made by the former owner. The Treasurer has transferred to the City’s General Fund $16,703.91, plus any accrued interest thereon.
The due diligence required for a non-judicial tax sale is much less than required when a property is sold by the Treasurer through a judicial process. At the time of the sal...
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