Title
Consider/Discuss/Act on a Resolution to Authorizing the City Manager to Participate in Execution of Special Warranty Deed for McKinney Outlots Addition Lot 885
Summary
MEETING DATE: August 5, 2013
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 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 in McKinney Outlots Addition Lot 885.
- The City of McKinney has received an offer from Safari Development, LLC to purchase Lot 885 in McKinney Outlots Addition.
- 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.
- All the other taxing entities have approved the sale of this property.
- 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 $1,693.58 and an amount not greater than $1,706.00.
BOARD OR COMMISSION RECOMMENDATION:
· N/A