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 September 28, 2018, October 5, 2018, October 12, 2018, and October 19, 2018, the Property Management Department advertised a list of tax-foreclosed properties for a sealed bid sale, and on October 25, 2018, 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 bid. 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. The list of properties advertised for sale and associated bid results are on the attached exhibit. This M&C does not request approval of a contract with a business entity.
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. 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 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, 8 and 9.