Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Participate in Execution of Special Warranty Deed for 705 Center Street
Summary
MEETING DATE: December 17, 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 in the disposition of tax-delinquent vacant residential property held by all taxing entities located at 705 Center Street.
· The City of McKinney has received an offer from North Collin Habitat for Humanity to purchase 705 Center Street.
· 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.
· This offer is sufficient to pay the other taxing entities all the amounts due under the judgment, this sale meets the criteria of Texas Property Tax Code §34.05(h) and does not require the consent of the other taxing units in the Judgment.
· 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 $5,504.63 and an amount not greater than $15,000.00.
BOARD OR COMMISSION RECOMMENDATION:
· N/A