Executive/Council Action Form (ECAF)
ITEM TITLE:
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Bid4Assets
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DEPARTMENT: Treasurer
ORIGINATOR: Mallory Good
EXECUTIVE RECOMMENDATION: Approved
PURPOSE: Bid4Assets provides services to support the Snohomish County Treasurer’s office and the Snohomish County taxpayers with website advertising and auction services for tax-foreclosed properties.
BACKGROUND: Snohomish County Treasurer's office is required by state law (RCW 84.64) to foreclose on properties with delinquent taxes at the expiration of three years' delinquency. Sale by electronic media may be used by the Treasurer to conduct this public auction sale, pursuant to RCW 84.64.225. Bid4Assets has been providing online advertising and auction service to Snohomish County Treasurer’s office since 2018.
FISCAL IMPLICATIONS:
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EXPEND: FUND, AGY, ORG, ACTY, OBJ, AU |
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DEPARTMENT FISCAL IMPACT NOTES: Bid4Assets services are funded by Buyers' Premiums, charged to the winning bidders. County will not pay any fees for auction setup, removing parcels, modifying auctions or marketing services. County is guaranteed to NEVER receive a bill from Bid4Assets under any circumstances.
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OTHER DEPARTMENTAL REVIEW/COMMENTS: Click or tap here to enter text.