Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Participate in Execution of Special Warranty Deed for Property Being Lot 13B, Block 2, Russell #4 Addition, AKA 926 E. Gerrish Street, City of McKinney, Collin County, Texas
Summary
COUNCIL GOAL: Operation Excellence
MEETING DATE: July 18, 2017
DEPARTMENT: Housing and Community Development
CONTACT: Janay Tieken, Housing and Community Development Manager
RECOMMENDED CITY COUNCIL ACTION:
• Approve 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 being Lot 13B, Block 2, Russell #4 Addition, AKA 926 E. Gerrish Street, City of McKinney, Collin County, Texas.
• The City of McKinney has received an offer from K.R.E.I.G, LLC to purchase property being Lot 13B, Block 2, Russell #4 Addition, AKA 926 E. Gerrish 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 $9,000.00 is more than 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 and Community Development Department 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 $2,068.12 and an amount not greater than $9,000.00.
BOARD OR COMMISSION RECOMMENDATION: N/A