Title
Consider/Discuss/Act on a Resolution Authorizing the Interim City Manager to Participate in Execution of Special Warranty Deed for Property Being Lots 782C & 783C of The McKinney Outlots Addition, aka 402 N. McDonald 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 Lots 782C & 783C of The McKinney Outlots Addition, aka 402 N. McDonald Street, City of McKinney, Collin County, Texas.
• The City of McKinney has received an offer from Gene Grimes to purchase property being Lots 782C & 783C of The McKinney Outlots Addition, aka 402 N. McDonald 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 $18,822.00 is for the minimum bid at the Sheriff’s Sale, if any taxing jurisdictions agree to accept, the property may be sold for that amount.
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 $3,804.61 and an amount not greater than $18,822.00.
BOARD OR COMMISSION RECOMMENDATION: N/A