Title
Consider/Discuss/Act on a Resolution Authorizing the Deputy City Manager to Participate in Execution of Special Warranty Deed for 605 Howard Street, McKinney Outlots Addition, Lot 876 and Tract 247, Block 3, Out of Abstract 248 in the William Davis Survey, McKinney, Texas
Summary
MEETING DATE: April 15, 2014
DEPARTMENT: Housing and Community Development Department/Housing Services Division
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 in the disposition of tax-delinquent vacant residential properties held by all taxing entities located at 605 Howard Street, McKinney Outlots Addition, Lot 876 and Tract 247, Block 3, Out of Abstract 248 in the William Davis Survey, McKinney, Texas.
· The City of McKinney has received an offer from Safari Development to purchase 605 Howard Street and Tract 247.
· 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 $8,284.34 and an amount not greater than $10,918.00.
BOARD OR COMMISSION RECOMMENDATION:
· N/A