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Consideration of Settlement Offer to Compromise Outstanding Unsafe Building Abatement Lien Against Property Located at 9526 Black Bear Drive
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BRIEF OVERVIEW
On June 14, 2006, an Unsafe Building Abatement Lien was recorded in Book 2275, Page 1161 of the Official Records of Hernando County, Florida against 9526 Black Bear Drive for Key No. 982896 owned at the time by Edwin Valentin. Said lien was in the amount of $3,606.76. The property was sold three (3) times after it was owned by Edwin Valentin. The current owner, Terry Brownell, purchased the property on December 12, 2024. The lien has survived and has been accruing interest since 2006.
On March 24, 2025, Old Republic National Title Insurance Company submitted a letter proposing payment of the principal amount of the lien in full in exchange for the Board's waiver of the interest due on the principal so the current owner can move forward with construction on the vacant land. The title company reports that the property owner's name on the lien was misspelled as "Edwin Valentino" so searching public records did not reveal the lien. The lien was only discovered by searching the Property Appraiser's online records.
Should the Board vote to accept the offer, the Building Department will accept the $3,606.76 to pay the principal amount due and the Clerk Finance Division will be directed to issue Mr. Brownell, the current owner, an U.S. Internal Revenue Service Form 1099 in the amount of the total interest that would be forgiven ($11,577.70 through April 30, 2025). Once the lien has been paid and the 1099 has been issued, a Satisfaction of Lien will be recorded.
Neither the Board nor the staff will need to take any action if the Board votes to decline Old Republic National Title Insurance Company's offer.
FINANCIAL IMPACT
The impact, upon accepting the agreement & waiver, will be the receipt of the principal amount and a write-off of the accrued interest balance forgiven.
Conversely, i...
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