Section 11-401.1. Procedures for distressed property

a. The commissioner of
  finance shall, not less than sixty days preceding the date of  the  sale
  of  a  tax  lien  or  tax  liens,  submit to the commissioner of housing
  preservation and development a description by block and lot, or by  such
  other   identification   as   the   commissioner  of  finance  may  deem
  appropriate, of any parcel of class one or class two  real  property  on
  which  there  is  a  tax  lien  that  may be foreclosed by the city. The
  commissioner of housing preservation and  development  shall  determine,
  and direct the commissioner of finance, not less than ten days preceding
  the date of the sale of a tax lien or tax liens, whether any such parcel
  is  a  distressed  property  as  defined  in subdivision four of section
  11-401 of this chapter. Any tax lien on a parcel so determined to  be  a
  distressed  property  shall  not be included in such sale. In connection
  with a subsequent sale of a tax lien or tax liens, the  commissioner  of
  finance  may,  not  less than sixty days preceding the date of the sale,
  resubmit to the commissioner of housing preservation and  development  a
  description  by  block  and  lot, or by such other identification as the
  commissioner of finance may deem appropriate, of any parcel of class one
  or class two real property  that  was  previously  determined  to  be  a
  distressed  property  pursuant to this paragraph and on which there is a
  tax lien that may be included in such sale. The commissioner of  housing
  preservation   and   development   shall   determine,   and  direct  the
  commissioner of finance, not less than ten days preceding  the  date  of
  the  sale,  whether  such  parcel  remains a distressed property. If the
  commissioner of housing preservation and development determines that the
  parcel is not a distressed property, then the tax lien on the parcel may
  be included in the sale.
    b. The  commissioner  of  housing  preservation  and  development  may
  periodically  review  whether  a  parcel  of class one or class two real
  property that is subject to subdivision c of this section or subdivision
  j of section 11-412.1 of this chapter remains a distressed property.  If
  the commissioner determines that the parcel is not a distressed property
  as  defined  in subdivision four of section 11-401 of this chapter, then
  the parcel shall not be subject to such subdivisions.
    c. Any parcel so determined to  be  a  distressed  property  shall  be
  subject  to  an  in  rem  foreclosure  action,  or in the case where the
  commissioner of finance does not commence such action  the  commissioner
  of  housing  preservation and development shall evaluate such parcel and
  take such action as he or she  deems  appropriate  under  the  programs,
  existing  at the time of such evaluation, that are designed to encourage
  the rehabilitation and  preservation  of  existing  housing,  and  shall
  monitor  or  cause  to  be  monitored  the  status  of the property. The
  commissioner of housing preservation and  development,  in  his  or  her
  discretion,  shall  cause an inspection to be conducted on any parcel so
  determined to be a distressed property. In addition, the commissioner of
  housing preservation and development shall submit to the council a  list
  of  all  parcels so determined to be a distressed property within thirty
  days from the date such parcels are identified as a distressed property.