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Weber County staff propose sending decades-old subdivision escrows to state unclaimed property
Summary
County staff told commissioners they plan to turn roughly $800,000 in pre-2015 subdivision escrow funds over to the state as unclaimed property after years of unsuccessful attempts to locate entitled parties.
Weber County commissioners heard a proposal to transfer longstanding subdivision escrow accounts that predate 2015 to the state unclaimed property program, county staff said.
Sean Wilkinson, a county staff member, told commissioners the county holds a collection of escrow accounts set up to guarantee subdivision improvements that in many cases were never completed and for which entitled parties have not come forward. "There is a path where we can transfer these escrow funds to the state as unclaimed property," Wilkinson said.
The proposal applies to accounts established before the county's financial system conversion in 2015. County staff said the balance of those older escrows is roughly $800,000 to $900,000 and that most of those funds relate to subdivisions where improvements are unlikely to be completed. "We're never going to…
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