Title
Consider/Discuss/Act on a Resolution Authorizing the Interim City Manager to Participate in Execution of Special Warranty Deed for Property Being Lots 13 & 14, Block 5, Gerrish Addition, aka 717 Rike St., City of McKinney, Collin County, Texas, and Being More Fully Described in Volume 3740, Page 254 in the Deed Records of Collin County, Texas
Summary
COUNCIL GOAL: Operational Excellence
MEETING DATE: July 21, 2015
DEPARTMENT: Housing and Community Development / Housing Services Division
CONTACT: Cristel Todd, Affordable Housing Administrator
RECOMMENDED CITY COUNCIL ACTION:
• Approve Resolution
ITEM SUMMARY:
• This Resolution authorizes the Interim City Manager to execute a Special Warranty Deed in the disposition of tax-delinquent vacant residential property held by all taxing entities being Lots 13 & 14, Block 5, Gerrish Addition, aka 717 Rike St., City of McKinney, Collin County, Texas, and being more fully described in Volume 3740, Page 254 in the Deed Records of Collin County, Texas.
• The City of McKinney has received an offer from Glen Killian to purchase property referenced above located at 717 Rike St.
• A Special Warranty Deed prepared by City tax attorneys Gay, McCall, Isaacks, Gordon & Roberts, P.C., begins the process for disposition of tax-delinquent property held by all taxing entities.
• This offer has been approved by all the other taxing entities.
• The property was acquired having been “struck off” to the taxing entities subsequent to a Sheriff’s sale.
BACKGROUND INFORMATION:
• The sale of this property is in accordance with the Land Disposition Policy directed and approved by City Council on December 2, 2003.
FINANCIAL SUMMARY:
• The Housing Services Division agrees to participate in the sale of the above mentioned property at a price not less than the combination of court costs, Constable fees, and cost of publication notices which total $13,976.18 and an amount not greater than $26,000.00.
BOARD OR COMMISSION RECOMMENDATION:
• N/A