05-57 Resolution No. 05-57
RESOLUTION
AUTHORIZING THE EXECUTION OF A RELEASE AND SATISFACTION
OF JUDGMENT FOR CASE NO. 04 OV 933
ENTITLED CITY OF ELGIN V. ROBERT STURDIVANT
WHEREAS, Robert Sturdivant is the owner of the property commonly referred to as
160 Summit Street, Elgin; and
WHEREAS, violations of the Property Maintenance Code are currently existing on the
property; and
WHEREAS,the City has obtained judgments against Robert Sturdivant in one housing court
case because he has failed to maintain the property in compliance with the Property Maintenance
Code of the City of Elgin; and
WHEREAS,economic rehabilitation of the property is not feasible unless the city's judgment
liens on the property are reduced; and
WHEREAS,Robert Sturdivant has secured purchasers for the property who have agreed to
deposit rehabilitation funds with the city to ensure the Property Maintenance Code violations are
corrected before 31 July 2005; and
WHEREAS, the public interest will best be served if the Property Maintenance Code
violations are corrected as quickly as possible to eliminate the property's blight and its detrimental
effect on surrounding properties.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ELGIN, ILLINOIS, that Corporation Counsel William A. Cogley be and is hereby authorized and
directed to execute a Release and Satisfaction of Judgment on behalf of the City of Elgin for Case
No. 04 OV 933, City of Elgin v. Robert Sturdivant on the condition that (1) Robert Sturdivant
tenders payment to the City of Elgin in the amount of Two Thousand Dollars ($2,000) before
28 February 2005, and (2) the property's purchasers execute a Code Violation Escrow Agreement
with the City, and deposit the sum of One Thousand Dollars ($1,000) with the city in accordance
with that agreement before 28 February 2005.
s/Ed Schock
Ed Schock,Mayor
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Presented: February 23, 2005
Adopted: February 23, 2005
Omnibus Vote: Yeas: 6 Nays: 0
Attest:
s/Dolonna Mecum
Dolonna Mecum, City Clerk
`0 OF f�Ci
`0\ti C It of E I I t1 Agenda Item No. \ �-I p
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February 18, 2005
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TO: Mayor and Members of the City Council NEIGHBORHOOD VITALITY
FROM: Olufemi Folarin, Acting City Manager
Adam Garcia, Code Enforcement Supe isor
SUBJECT: Judgment Release for 160 Summit Street
PURPOSE
The purpose of this memorandum is to provide the Mayor and members of the City Council with
information to authorize the execution of a release and satisfaction of judgment for case number
04 OV 933, entitled City of Elgin V. Robert Sturdivant.
RECOMMENDATION
It is recommended that the City Council authorize the execution of the release and satisfaction of
judgment in return for payment of$1000 for the outstanding judgment, $1,000 for outstanding
weed and water bills and $1000 deposited with the City in a Code Violation Escrow account.
BACKGROUND
The City of Elgin started a housing court case for code violations against this property on March
22, 2004. The violations cited in the court case were not complied and the case ended with a
$52,575 judgment in favor of the City. The violations remain not complied. The City received a
Notice of Foreclosure as a lien holder of record on February 10, 2005. Mr. Sturdivant is trying
to sell this property before a foreclosure action is finalized. According to Mr. Sturdivant, the
mortgage company has agreed to put the foreclosure on hold until February 24, 2005 for the
closing of the sale of the property. The City has received a proposed closing statement showing
that Mr. Sturdivant will receive no proceeds from the sale of the property. The proposed sales
price is less than the mortgage balance.
COMMUNITY GROUPS/INTERESTED PERSONS CONTACTED
None
. .
e,... Judgment Release for 160 Summit Street
February 18, 2005
Page 2
yitA FINANCIAL IMPACT
The City would receive a total of $3,000: $1,000 would satisfy outstanding water and weed
bills; $1,000 would be used to partially satisfy the outstanding judgment and $1,000 would be
held in escrow for improvements to the property. If the property is foreclosed the City would
lose its judgment and ability to collect on amounts outstanding.
V AI GAL IMPACT
II None.
ALTERNATIVES
1. Authorize the execution of the release and satisfaction of judgment in return for payment
of $1000 to satisfy the outstanding judgment, $1,000 for payment of outstanding weed
and water bills and $1000 deposited with the City in a Code Violation Escrow account.
2. Do not reduce the judgment and let the property go into foreclosure.
rib'
Respectfully submitted for Council consideration.
AAG
Attachments
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• a V� f�Y Y f J V J r•
AI TIMATE
REAL ESTATE, INC .
ESTRIATE OF SELLER'S EQUITY
ctrepared For: ,154-K7 l Date: i 2/o27/O
OrrN: 0/907 aft/QC/ _.�l'
Your:1 . ...-F►rote58ion �al CAR
SELLING PRICE $ -f. O GQ, Da
ESTIMATED MORTAGE BALANCE $ I Sq 0400,o�
NET BEFORE EXPENSES: $
Less Closing Expenses: stets
I or.
Revenue Stamps l wvr4 $ O'7 CO
Tide Charges S1>o t lc- $ 7-2 s` 0 0
•
Survey $ 7°O- 00
Attorney
Interest Arrears S
Prorated Real Estate Taxes 105-94; $ .3'f d 0 . Oa
Brokerage Fees s 4 70O do_
Miscellaneous $ f
TOTAL CLOSING EXPENSES: $ 1 I tO(11 O. 0 d
"SELLERS ESTIMATED EQUITY: $
The ernes shown are pdBninery Wonsles for planning purposes only.Actual costs will be shown in a
closing sunernsnt prepared and approved bt►your suorney.Omer costs not shown here may be}Warred by
yon Usual perorations WI be made atdos+rg for reef estates toes,etc.as palled to the Sales Conlrsct
Your shame,':tees should also be eateddered as an expense cube sale
SIGNATURE DATE SIGNATURE DATE
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