Title
Consider/Discuss/Act on a Resolution to Authorize the City Manager to Participate in Execution of a Special Warranty Deed for 815 Fenet Street
Summary
MEETING DATE: November 2, 2010
DEPARTMENT: Community Services/Affordable Housing Services Office
CONTACT: Cristel Pruneda, 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 815 Fenet Street.
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- The City of McKinney has received an offer from Tammy Luckett, 6921 Bandelero, Bakerfield, California 93308 to purchase 815 Fenet Street for $6,165.00. The offer meets the minimum bid of $6,164.68 which was not received at the Sheriff’s sale.
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- The Special Warranty Deed has been signed by all of the other taxing entities.
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- A Special Warranty Deed begins the process for disposition of tax- delinquent property held by all taxing entities.
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- City tax attorneys Gay, McCall, Isaacks, Gordon & Roberts, P.C, prepared the Special Warranty Deed and recommend acceptance of the offer.
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- The property was acquired having been struck off to the taxing entities subsequent to sheriff’s sale.
BACKGROUND INFORMATION:
• The sale of this property is part of the Lot Disposition Policy directed and approved by City Council on December 2, 2003.
FINANCIAL SUMMARY:
• The proceeds of the sale would pay the full amount due under the judgment as of the day it was struck off to the taxing entities.
BOARD OR COMMISSION RECOMMENDATION:
• N/A