§ 22-122. Acquisition procedures.

(a)

This board hereby authorizes the county administrator, or designee, to execute purchase contracts in accordance with established purchase procedures and all documentation necessary to complete purchase of NSP residential properties within the county. The community services director, or his designee, shall be responsible for administration of the NSP on behalf of the county.

(b)

The purchase price of foreclosed properties under the NSP shall generally be less than current appraised market value. The county shall adhere to the NSP requirements of minimum discounts for single property purchases and for bulk purchases. The community services director, or his designee, is hereby authorized to acquire NSP properties on behalf of the county subject to the following conditions:

(1)

The community services director, or his designee, shall utilize a form of agreement acceptable to the county attorney for each property acquired.

(2)

The community services director will coordinate all aspects of the acquisition process, including conducting due diligence on each property, negotiation of the ultimate acquisition price, and closing of the real estate transaction.

(3)

The community services director, or his designee, shall evaluate each property acquired and determine the scope of repairs for each home and coordinate the bidding process and contract award for renovation work on each unit requiring repairs.

(4)

Properties shall be acquired in the name of the county, a political subdivision of the state, unless a different ownership is specifically authorized by the board of county commissioners.

(Code 1982, § 1-16.2-14; Ord. No. 10-013, pt. A, 3-23-2010)