Title
Consider/Discuss/Act on a Resolution Authorizing the Interim City Manager to Participate in Execution of Special Warranty Deed for Property Being Lot 1A, Block 59 of The Shorts Addition, aka 608 Jefferson Street, City of McKinney, Collin County, Texas
Summary
COUNCIL GOAL: Operational Excellence
MEETING DATE: February 16, 2016
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 Lot 1A, Block 59 of The Shorts Addition, aka 608 Jefferson Street, City of McKinney, Collin County, Texas.
• The City of McKinney has received an offer from North Collin County Habitat for Humanity to purchase property being Lot 1A, Block 59 of The Shorts Addition, aka 608 Jefferson Street, City of McKinney, Collin County, Texas.
• A Special Warranty Deed prepared by City tax attorneys Gay, McCall, Isaacks & Roberts, P.C., begins the process for disposition of tax-delinquent property held by all taxing entities.
• This offer of $18,500.00 is sufficient to pay the other taxing entities all the amounts due under the judgment, and does not require the consent of the other taxing units in the Judgement.
BACKGROUND INFORMATION:
• The property was acquired having been “struck off” to the taxing entities subsequent to a Sheriff’s sale.
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 $5,879.81 and an amount not greater than $18,500.00.
BOARD OR COMMISSION RECOMMENDATION: N/A