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  Agenda Item # 11.b.       
Meeting Date: 10/05/2020  
Re:    Agreement regarding surplus funds
Submitted For: Pete Sweeney

SUBJECT:
Approval of an agreement on the distribution of surplus funds related to the foreclosure sale of a property located at 118 Hialeah Avenue. 
SUMMARY:
The property in question was the subject of a foreclosure sale. The City of Fort Pierce and the previous owners both claimed entitlement to post-sale funds being kept in the court registry. The parties would like to submit an agreed order dividing the funds, such that the City will receive $20,000 and the previous owners will receive $14,575.93 and any applicable interest. 
RECOMMENDATION:
Approve the agreement as presented. 
ALTERNATIVES:
Direct staff to renegotiate the agreement. 
RESPONSIBLE STAFF:
Tanya Earley, Assistant City Attorney 
COORDINATED WITH:
Peter Sweeney, City Attorney 
Margaret Arraiz, Code Compliance Manager 

Fiscal Impact
OTHER INFORMATION:
$20,000 to general fund. 
Attachments
Proposed Order

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Form Review
Inbox Reviewed By Date
City Manager Nick Mimms 09/23/2020 02:45 PM
Form Started By: Tanya Earley Started On: 09/16/2020 10:57 AM
Final Approval Date: 09/23/2020

    

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