M&C Review


COUNCIL ACTION: Approved on 9/27/2016

DATE:	9/27/2016	REFERENCE NO.:	**L-15953	LOG NAME:	21TAX FORECLOSED JULY 2016 SEALED BID SALE2
CODE:	L	TYPE:	CONSENT	PUBLIC HEARING:	NO
SUBJECT:	Authorize Sale of Eleven Tax-Foreclosed Properties to Various Purchasers in the Aggregate Amount of $169,782.29, in Accordance with Section 272.001 of the Texas Local Government Code and Section 34.05 of the Texas Tax Code (COUNCIL DISTRICTS 2, 3, 5, 7 and 8)

RECOMMENDATION:

It is recommended that the City Council:

1. Authorize the sale of the eleven tax-foreclosed properties described below in the amount of $169,782.29, in accordance with Section 272.001 of the Texas Local Government Code and Section 34.05 of the Texas Tax Code; and

2. Authorize the City Manager or his designee to execute and record the appropriate instruments conveying the properties to the highest bidders, in compliance with the bid form specifications to complete the sale.

DISCUSSION:

The City of Fort Worth is authorized, under Section 34.05 of the Texas Tax Code to conduct a sale of tax-foreclosed properties through a sealed bid sale, in accordance with Section 272.001 of the Texas Local Government Code. On July 3, 2016, July 10, 2016, July 17, 2016 and July 24, 2016, the Property Management Department advertised a list of tax-foreclosed properties for a sealed bid sale for the constable deed amount. On July 28, 2016, the bids were received and opened, in accordance with the policies regulating the sale of tax-foreclosed properties. The bidding procedures require that a bank certified funds available letter be included with any bids. In the event full payment is not made on these bids, Staff will contact the next highest bidder and proceed in that manner until full payment is received.

COUNCIL DISTRICT	STREET NUMBER	STREET NAME	TAD NUMBER	BIDDER'S NAME	SALES PRICE	ZONING
2	2606	19th Street (NW)	00183164	Joel Ortega Maria Lourdes Galvan	$9,782.00 $8,160.00	A-5
3	5304	Blackmore Avenue	00509736	Fort Worth Area Habitat for Humanity, Inc. DBA Trinity Habitat for Humanity	$9,129.95	A-5
2	3000	Clinton Avenue	00839043	Slate Star Investments, LLC	$12,356.15	A-5

2	3612	Crump Street (N)	00988103	Joel Ortega	$12,735.00	A-5
2	3615	Houston Street (N)	03298981	Slate Star Investments, LLC	$8,628.54	A-5
3	5105	Humbert Avenue	00512486	Fort Worth Area Habitat for Humanity, Inc. DBA Trinity Habitat for Humanity	$12,497.00	A-5
8	2704	La Salle Street	01637614	William C. Tabor III	$22,359.79	A-5
7	6321	Overlake Drive	03174190	Slate Star Investments, LLC	$13,638.78	A-5
2	3100	Pecan Street (N)	00999563	Slate Star Investments, LLC	$13,055.08	A-5
5	2016	Stalcup Road	01347179	Urban Pioneer Construction LLC	$39,100.00	E
3	6012	Westridge Lane No. 604	00609455	Chuan Seng Tan	$16,500.00	C
				TOTAL	$169,782.29

The tax-foreclosed properties will be conveyed through a Tax Resale Deed Without Warranty to the highest bidder upon full payment for the properties. The bidder will be responsible for all closing costs related to this transaction, as well as any accrued post-judgment taxes. After payment is received, the City will release all City liens. A program administrative fee will be collected from the proceeds of the sale of each property.

The Planning and Development Department has reviewed the current zoning of these properties, which is shown on the above list and has determined that the zoning classifications of the properties are compatible with respect to existing land uses of the surrounding neighborhood and future land use designations indicated in the Comprehensive Plan.

The properties are located in COUNCIL DISTRICTS 2, 3, 5, 7 and 8.

This M&C does not request approval of a contract with a business entity.

FISCAL INFORMATION/CERTIFICATION:

The Director of Finance certifies the Property Management Department is responsible for the collection, deposit and disbursement of funds. Upon receipt, the amount of $169,782.29 will be deposited into the General Fund, Tax Foreclosed Property Sale Fee account for disbursement to the county for the purpose of distributing proceeds to the taxing entities and paying applicable fees. The City's estimated revenue in Fiscal Year 2016 is $94,888.00 and $57,400.00 year to date receipts have been posted.