Agenda Item
Meeting Date: 4/27/2017 - 6:30 PM
Category: Consideration and Possible Action Item (s)
Type: Info
Subject: Pursuant to Texas Government Code 551.072 to consider the following: Sale of Real Property.
District Goals:
Goal 5
Effective and Efficient Use of Resources
Enclosure:
File Attachment:
RESOLUTION 800 London Lane.pdf
RESALE DEED 800 London Lane.pdf
Summary: The District utilizes the services of the law firm Perdue, Brandon, Fielder, Collins and Mott for delinquent tax collections. When the delinquent taxes for a particular property are unable to be collected from the owner, the property is offered for sale/auction by the District. The minimum bid at this auction is the amount of taxes, penalties, interest and costs owed on the property. On occasion, the property is not purchased and can then be struck-off (awarded in trust on behalf of all other taxing authorities) to the entity who initiated the tax sale. The awarded entity has the option to either keep the property by paying any unpaid taxes to all other entities owed monies or sell the property. If the awarded entity sells the property, the goal is to cover all taxes, costs and fees for all entities involved. This pays in full all back-taxes as well as puts the property back on the tax rolls to generate future tax revenues.
The District currently has two (2) properties obtained through this process. We currently have an offer to sell one of the properties and the offer covers all taxes, costs and fees.
If approved, a resolution must be adopted and signed and the deed must be signed to complete the sale. If approved, the attached resolution must be approved.
Budgetary Impact: The District is currently owed back taxes on this property and those taxes will be paid in full if the sale is approved. Additionally, while we own the property, it is our responsibility to maintain the property. That expense will also be eliminated with the sale.
Recommendation: Recommend the approval of the sale of the London Lane property as presented.
Approvals:
Recommended By:
Signed By:
Catherine Montalvo - Secretary to Superintendent
Signed By:
Patricia Linares - Interim Superintendent