Holiday Island lots are bulk of state lands sale

The lots are all delinquent from 2007 and total about $1.4 million in assessed value, with around $380,000 in delinquent county taxes.

The bulk of the more than 700 lots listed are from National Recreational Properties, Inc. (NRPI), who bought hundreds of lots from developer Tom Dees in 2005. Under a contract with the suburban improvement district (SID), assessments were waived until a property was sold. Other lots NRPI purchased from private sellers, on which they did pay assessments.

The lots would represent a minimum of around $350,000 in assessments to the district if they were all zoned R-1 residential. R-3 and commercial zoned lots had higher assessments. In 2010, Capital source paid around $230,000 in assessments due the district from 2008, but paid no more after that.

County taxes were not waived, however, and NRPI had not paid taxes on the delinquent lots.

According to the Commissioner of State Lands website, anyone who purchases a property from the state lands sale will receive a Limited Warranty Deed after a 30-day redemption period has expired and checks have cleared.

The purchaser pays for the property on the day of the sale, with the first $100 required to be paid in cash, cashier's check or money order.

If the property does not sell at the courthouse, it will still be available for 90 days after the auction. Buyers must complete an "offer to purchase" form.

Buyers will also "probably" be responsible for delinquent special improvement district fees assessed against the property, the website notes, although in the listing for the upcoming sale, only eight Holiday Island properties are listed as HISID having an interest in the sale.

The sale will start at 9 a.m.