M&C Review


COUNCIL ACTION:  Approved on 12/11/2018 

DATE: 12/11/2018 REFERENCE NO.: **L-16166 LOG NAME: 21PMD TF DIRECT SALE UP RXR E ROSEDALE
CODE: L TYPE: CONSENT PUBLIC HEARING: NO
SUBJECT:  

Authorize the Direct Sale of Approximately 0.375 Acres of a Tax-Foreclosed Property Located at 501 East Rosedale Street for a Total Cost of $22,034.00 to Union Pacific Railway, in Accordance with Section 34.05 of the Texas Property Tax Code (COUNCIL DISTRICT 8)


RECOMMENDATION:

It is recommended that the City Council:

1.  Authorize the direct sale of approximately 0.375 acres of a tax-foreclosed property located at 501 East Rosedale Street for a total cost of $22,034.00 to Union Pacific Railway, in accordance with Section 34.05 of the Texas Property Tax Code; and

2.  Authorize the City Manager or his designee to execute and record the appropriate instrument conveying the property to complete the sale.

 
DISCUSSION:

Union Pacific Railway submitted a direct sale request to the Property Management Department to purchase approximately 0.375 acres of tax-foreclosed land referenced below at appraised fair market value in the amount of $20,434.00 plus a $1,600.00 Administrative Fee for a Total Cost of $22,034.00. Union Pacific Railway needs the land to construct the associated drainage ditch to maintain positive drainage in the area.  The City of Fort Worth (City) received the property through a Constable Sale after a tax-foreclosure suit.  In accordance with Section 34.05 of the Texas Property Tax Code, the City is authorized to conduct a direct sale of tax-foreclosed property to a buyer.

Property Address

Legal Description

Acreage Size

Appraised Fair Market Value

CFW Fees

Total Cost

Zoning

501 E. Rosedale        

Franklin Richards Survey A-1297

0.375 Acres/16,347 Sq. Ft.

$20,434.00        

$1,600.00

$22,034.00

    "J"

Staff recommends selling the above referenced property to Union Pacific Railway, who is responsible for all related costs, including payment of the appraisal and payment of the post-judgment taxes, prior to the conveyance of the property. The total cost of the approximate 0.375 acres includes the appraised fair market value and City fees.  The Planning and Development Department reviewed the current zoning of the property and determined zoning classification of the property is compatible with respect to the existing land use of the surrounding neighborhood and future land use designations indicated in the Comprehensive Plan.

The property is located in COUNCIL DISTRICT 8.

This M&C does not request approval of a contract with a business entity.
 
FISCAL INFORMATION/CERTIFICATION:

The Director of Finance certifies that the Property Management Department is responsible for the collection, deposit and reimbursement of funds. Upon receipt, the amount of $22,034.00 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.

TO
    Fund Department
ID
Account Project
ID
Program Activity Budget
Year
Reference #
(Chartfield 2)
Amount

FROM
    Fund Department
ID
Account Project
ID
Program Activity Budget
Year
Reference #
(Chartfield 2)
Amount

Submitted for City Manager's Office by:
Jay Chapa (5804)
Originating Department Head:
Roger M. Venables  (6334)
Additional Information Contact:
Laura B Morales  (2311)

 
 
ATTACHMENTS
  501 E Rosedale Survey Metes Bounds Exhibits.pdf
  UP RXR ROSEDALE MAP.pdf