M&C Review


COUNCIL ACTION:  Approved on 6/11/2019 

DATE: 6/11/2019 REFERENCE NO.: **L-16226 LOG NAME: 21CFO DIRECT SALE ROBERTS CUT-OFF
CODE: L TYPE: CONSENT PUBLIC HEARING: NO
SUBJECT:   Authorize the Sale of City-Owned Surplus Property Located on the 2500 Block of Roberts Cut-Off Road to the City of River Oaks, for a Total Purchase Price of $19,478.00 (COUNCIL DISTRICT 7)

RECOMMENDATION:

It is recommended that the City Council:

1.  Authorize the sale of city-owned surplus property located on the 2500 Block of Roberts Cut-Off Road to the City of River Oaks, for a total purchase price of $19,478.00;

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

 
DISCUSSION:

The City of Fort Worth owns a city fee-owned interest in the triangular shaped surplus property located on the 2500 Block of Roberts Cut-Off Road in the City of River Oaks.  The Property Management Department received notification from the City of River Oaks requesting to purchase the city-owned surplus property.  A direct sale of this city-owned surplus property is allowed under Local Government Code Section 272.001 (b)(1) because of the subject parcel is irregular in shape (triangle) and cannot be developed independently.  This parcel has been reviewed by all departments and deemed surplus.

The Fair Market Value (FMV) of the property was established by an independent appraiser in the amount of $17,787.00.  As part of the real estate transaction, the buyer has agreed to purchase the property subject to any existing easements and encumbrances.  As part of the process, the buyer has performed due diligence on the property including a title search and obtained a survey of the surplus property. The City will convey title to the buyer through a Deed Without Warranty and will retain all mineral interests owned in the property. The buyer has agreed to pay all related closing costs, including a $1,600.00 administrative and maintenance fee.  

Property Address Legal Description/Size of Parcel FMV Purchase Price CFW FeesTotal Purchase Price
2500 Block of Roberts Cut-Off Road

A. Van Nordstrand Survey Abstract No. 1584

0.148 Acres(6,468 Sq. Ft.)

$17,787.00$1,600.00$19,478.00

This Property is Located in COUNCIL DISTRICT 7.  

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 and deposit of funds due the City.  

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 Venables (6334)
Additional Information Contact:
Laura B Morales  (2311)

 
 
ATTACHMENTS
  Parcel Survey Map.pdf