VACANT AND ABANDONED PROPERTY CITY COUNCIL MEETING August
VACANT AND ABANDONED PROPERTY CITY COUNCIL MEETING August 19, 2008 Agenda Item 6. 03
VACANT AND ABANDONED PROPERTY § What are the issues that require an ordinance? § What properties are involved? § Who is affected? § What is the financial impact to the City?
VACANT AND ABANDONED PROPERTY § Vacant/boarded buildings can discourage economic development and depress property values § The number of properties in foreclosure are significant and increasing § The City is spending large sums to abate blighted conditions because owners are difficult to contact in a timely manner
VACANT AND ABANDONED PROPERTY Properties Involved: Residential Units Commercial Buildings Vacant Lots § Vacant and abandoned properties are major sources of blight § Vacant buildings attract transients and criminal activity § Vacant properties are frequently used as dumping grounds for junk, trash, and debris
VACANT AND ABANDONED PROPERTY Who is affected by the ordinance? Property Owners Property owners subject to this ordinance are required to: Maintain the property to neighborhood standards § Free of trash and debris § Free of graffiti § Landscape front and back yards including maintaining live vegetation, cutting, pruning, and mowing § Pools/spas to be operating and water free of pollutants
VACANT AND ABANDONED PROPERTY Property owners subject to this ordinance are also required to: § Keep the property secured § Post the notice with a 24/7 contact name and telephone number § Absentee owners to have local entity as property manager
VACANT AND ABANDONED PROPERTY Foreclosure problem has created a new industry: Mortgage Field Services Companies § Hired by the lenders and loan servicing companies § Maintain vacant properties when loan goes into default § Act on the behalf of lenders and loan servicing companies to preserve the value of the property
VACANT AND ABANDONED PROPERTY Mortgage Field Services Companies: § Proactively address property to ensure complaints and code violations are handled § Provide monthly onsite inspections that verify occupancy status and property condition § Initially secure the property once vacant § Remove garbage, junk, and debris § Maintain yard, lawn, and landscaping
VACANT AND ABANDONED PROPERTY Mortgage Field Services Companies: § Do not charge the City for referrals or owner information § Are hired by banks and lenders to manage vacant properties § Correlate their services with the new ordinance § No cost to the City
FINANCIAL SUMMARY This action results in no financial impact to the City of Stockton RECOMMENDATION Repeal Chapter 14, Part v, Division 2, Sections 14 -520 through 14 -526, and add Sections 14 -520 through 14 -530, regarding maintenance, security, and rehabilitation and vacant property
VACANT AND ABANDONED PROPERTY CITY COUNCIL MEETING August 19, 2008
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