File #: 11-360    Name: Special Warranty Deed for 406 Washington Ave
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 406 Washington Avenue
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 406 Washington Avenue

 

 

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 406 Washington Avenue.
  • The City of McKinney has received an offer from Derrick Allen of McKinney to purchase 406 Washington Avenue for $1,200.00. This offer will cover the court costs and cost of sale first out of the proceeds pursuant to the Texas Property Tax Code then the remainder would be distributed to the taxing jurisdictions pro-rate.
  • The Special Warranty Deed has been signed by all the other taxing entities.
  • 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.
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  • BACKGROUND INFORMATION: 
  • The sale of this property is part of the Land Disposition Policy directed and approved by City Council on December 2, 2003.
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  • 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 $1,200.
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  • The court cost and cost of sale total $689.80.

 

 

BOARD OR COMMISSION RECOMMENDATION:

•                     N/A