Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Foreclosure of the Tax Sale Certificates for the 1,140 properties identified on Exhibit A
List of Property:
(Address/Block/Lot/Ward)
SEE ATTACHED EXHIBIT A
Additional Information:
Docket No. F-003449-15
body
This resolution authorizes the commencement of in rem tax foreclosure proceedings for the tax sale certificates held by the City of Newark, New Jersey, relating to 1140 properties that represent the 2014 Tax Foreclosure List (Exhibit A), pursuant to the In Rem Tax Foreclosure Act (1948) N.J.S.A. 54:5-104.29, et seq., and the laws amendatory and supplementary thereto.
NOW THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. It is hereby declared that the City of Newark shall commence with In-Rem Foreclosure proceedings, in accordance with the In-Rem Tax Foreclosure Act (1948), N.J.S.A. 54:5-104.29, et seq., and the laws amendatory and supplementary thereto for the eligible tax sale certificates held by it and the relating property, as listed on the 2014 Tax Foreclosure List (Exhibit A) appended hereto and made a part hereof.
2. It is hereby declared that the Tax Collector shall foreclose the Tax Sale Certificates for the 1140 properties, identified on the 2014 Tax Foreclosure List (Exhibit A) and certified to by the Tax Collector.
3. The Amount to Redeem does not include the 2014 2nd half billing, and the interest is calculated to December 31, 2014. Therefore, upon redemption the amounts will be adjusted accordingly.
4. It is further determined that the Corporation Counsel, with the written consent of the Tax Collector, shall have authority to enter into consent order(s) or stipulation(s) of dismissal where it is found that the action(s) was instituted erroneously or redemption of tax sale certificate(s).
5. Due to the City of Newark’s responsibility to comply with the U.S. Supreme Court’s decision in Mennonite Board of Missions v. Richard C. Adams, 462 U.S. 791 (1983), there will be an increase in the administrative costs to the property owner which is noted on the attached exhibit. Upon redemption, an additional Five Hundred Dollars ($500.00) will be assessed to the property, and must be paid prior to final judgment, and after final judgment has been entered, the additional cost will be Eight Hundred Dollars ($800.00) to defray the cost for fees & court filings, in addition to other charges incurred by the City of Newark as permitted by Law.
STATEMENT
The purpose of this resolution is to authorize the In Rem Tax Foreclosure of 1140 Tax Sale Certificates and related properties on the 2014 Tax Foreclosure List.(Exhibit A).