Registration & Maintenance of Properties in Foreclosure
January 12, 2010, City Council approved Ordinance No. 20-2009 (“Ordinance”), amending Chapter 6, City Code, by creating Article VII, titled Registration and Maintenance of Properties in Foreclosure. Generally, the Ordinance requires a mortgagee who holds a mortgage on real property within the City to register the property with the City within 10 days of default by the mortgagor. The registration requires certain mortgagee, property, and contact information be filed with the City.The Ordinance allows the City to impose a registration fee and requires the mortgagee to initiate and maintain onsite inspections and maintenance requirements.
On August 9, 2011, City Council approved Resolution 2011-083, establishing the registration fee of $200 and the Agreement with Federal Property Registration Corporation. (Agenda Item)