File #: 11-362    Name: Special Warranty Deed for 1000 New Street
Type: Resolution Status: Approved
In control: City Council Regular Meeting
On agenda: 8/1/2011 Final action: 8/1/2011
Title: Consider/Discuss/Act on a Resolution to Authorize City Manager to Participate in Execution of Special Warranty Deed for 1000 New Street
Attachments: 1. Resolution, 2. Special Warranty Deed, 3. Land Disposition Policy

Title

Consider/Discuss/Act on a Resolution to Authorize City Manager to Participate in Execution of Special Warranty Deed for 1000 New Street

 

Summary

 

MEETING DATE:                     August 1, 2011

 

DEPARTMENT:                      Community Services/Affordable Housing Services Office

 

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 at 1000 New Street.
  • The City of McKinney has received an offer from John and Cheryl Boley of McKinney to purchase 1000 New Street for $12,000.00.
  • A Special Warranty Deed begins the process for disposition of tax-delinquent property held by all taxing entities.
  • City tax attorneys Gay, McCall, Isaacks, Gordon & Roberts, P.C, prepared the Special Warranty Deed.
  • 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 Land Disposition Policy directed and approved by City Council on December 2, 2003.

 

 

FINANCIAL SUMMARY: 

  • The Affordable Housing Services Office agrees to participate in the sale of the above mentioned property at a price of not less than the court cost and costs of sale amount and not greater than $12,000.00.
  • The court cost and cost of sale total $2,179.51.

 

BOARD OR COMMISSION RECOMMENDATION:

•                     N/A