Title
Consider/Discuss/Act on a Resolution to Authorize City Manager to Participate in Execution of Special Warranty Deed for 408 Rice Street
Summary
MEETING DATE: December 4, 2012
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 a vacant residential property owned by the City of McKinney located at 408 Rice Street.
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- The City of McKinney has received an offer from Ronald Lustig with Bungalow Company to purchase 408 Rice Street.
- A Special Warranty Deed begins the process for the disposition of property.
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- City tax attorneys Gay, McCall, Isaacks, Gordon & Roberts, P.C, prepared the Special Warranty Deed.
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 greater than $18,000.00.
BOARD OR COMMISSION RECOMMENDATION:
· N/A