File #: 11-363    Name: Special Warranty Deed for 407 Carver Street
Type: Resolution Status: Approved
In control: City Council Regular Meeting
On agenda: 8/1/2011 Final action: 8/1/2011
Title: Consider/Discuss/Act on a Resolution to Authorize City Manager to Participate in Execution of Special Warranty Deed for 407 Carver Street
Attachments: 1. Resolution, 2. Special Warranty Deed, 3. Land Disposition Policy

Title

Consider/Discuss/Act on a Resolution to Authorize City Manager to Participate in Execution of Special Warranty Deed for 407 Carver Street

 

Summary

 

MEETING DATE:                     August 1, 2011

 

DEPARTMENT:                      Community Services/Affordable Housing Services Office

 

CONTACT:                       Cristel Todd, Affordable Housing Administrator

 

 

RECOMMENDED CITY COUNCIL ACTION:                     

•                     Adopt resolution

 

ITEM SUMMARY: 

  • This resolution authorizes the City Manager to execute a Special Warranty Deed with local taxing entities (McKinney ISD, Collin County and Collin County Community College) in the disposition of tax-delinquent vacant residential property held by all taxing entities located at 407 Carver Street.
  • The City of McKinney has received an offer from NCC Habitat for Humanity who is an approved builder of affordable housing to purchase 407 Carver Street.
  • A Special Warranty Deed begins the process for disposition of tax-delinquent property held by all taxing entities and is suitable for affordable housing development.
  • All the other taxing entities have signed off on this Special Warranty Deed.
  • City tax attorneys Gay, McCall, Isaacks, Gordon & Roberts, P.C, prepared the Special Warranty Deed.
  • All the other taxing entities have signed off on the Special Warranty Deed.
  • The property was acquired having been “struck off” to the taxing entities subsequent to sheriff’s sales.
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  • BACKGROUND INFORMATION: 
  • The sale of this property is part of an established program to create affordable housing for low-to-moderate-income families and is in accordance with the section Disposal of Vacant Lots Suitable for Affordable Housing of the Land Disposition Policy directed and approved by City Council on December 2, 2003.
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  • FINANCIAL SUMMARY: 
  • The Affordable Housing Services Office agrees to participate in the sale of the above mentioned property at a price of not less than the court cost and costs of sale amount and not greater than $2,500.
  • The court cost and cost of sale total $2,381.59.

 

 

BOARD OR COMMISSION RECOMMENDATION:

•                     N/A