Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Foreclosure of 824 properties
List of Property:
(Address/Block/Lot/Ward)
See attached Exhibit A--2015 Tax Foreclosure List
Additional Information:
body
WHEREAS, the City of Newark is currently holding tax sale certificates relating to 824 properties that represent the 2015 Tax Foreclosure List (Exhibit A); and
WHEREAS, 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, the City of Newark wishes to commence with In-Rem Foreclosure proceedings.
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 2015 Tax Foreclosure List (Exhibit A) appended hereto and made a part hereof. In the event that there are federal liens on the property, the City may foreclose in personam with a sheriff’s to remove any federal liens.
2. It is hereby declared that the Tax Collector shall perform all work necessary to allow the City to foreclose the Tax Sale Certificates for the 824 properties, identified on the 2015 Tax Foreclosure List (Exhibit A) and certified to by the Tax Collector and the redeeming party shall pay not only the statutory amount to redeem but also all allowable taxed costs.
3. The Amount to Redeem does not include the 2015 4th quarter billing, and the interest is calculated to December 31, 2015. 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) were instituted erroneously or redemption of tax sale certificate(s) are sought.
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) plus any costs to defray the cost. In addition, the City shall collect all allowable taxed costs as permitted by law.
STATEMENT
This resolution authorizes the In-Rem Tax Foreclosure of 824 Tax Sale Certificates and related properties on the 2015 Tax Foreclosure List (Exhibit A)