R-2010-08 public resale of real property acquired by City of La Porte/tax foreclosure by constable of Harris County/409 S Fifteenth St.

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REQUEST FOR CITY COUNCIL AGENDA ITEM Agenda Date Requested: June 28. 2010 Aoorooriation Requested By: Kathv Powell Source of Funds: Department: Finance Account Number: Report: _Resolution: ....K...-Ordinance:_ Amount Budgeted: Exhibits: Resolutions Amount Requested: Exhibits: Tax Codes Sect 34.05 (a) (c) (d) t Budgeted Item: (YES) NO Exhibits: SUMMARY & RECOMMENDATION If a property is sold or struck off to a taxing unit that is party to the judgment, the taxing unit may sell the property at any time by public or private sale. The City of La Porte has had these properties on our public resale list for more than an adequate amount of time and there has been no interest in purchasing the property at the minimum bid amount set by the judgment; at this time we are asking the city council to pass a resolution to lower the minimum bid so that we can have a second public sale by the constables office and hopefully get an interested party that will purchase these properties so that they can be taxable again; or even develop the properties. Section 34.05 (c) The taxing unit purchasing the property by resolution of its governing body may request the sheriff or a constable to sell the property at a public sale. If the purchasing taxing unit has not sold the property within six months after the date on which the owner's right of redemption terminates (these properties have past the redemption period), any taxing unit that is entitled to receive proceeds of the sale by resolution of its governing body may request the sheriff or a constable in writing to sell the property at a public sale. On receipt of a request made under this subsection, the sheriff or constable shall sell the property at a public sale as provided by Subsection (d). The minimum bid was arrived at by either the amount of costs in the judgment or a percentage of the HCAD value. The goal is to get the property back on the tax roll as taxable property. P054 - Lots 7,8 & 9 Block 790 Town of La Porte (30% ofHCAD value) P059 - Trs 26 through 32 Block 1446 Town of La Porte (Costs - Tanks in the ground) P086 - Lot 6 Block 6 Brookglen Section 1 RIP (Approximate Costs) P118 - Lot 4 & S18ft of Lot 3 & N14ft of Lot 5 Block 178 Town of La Porte (Approximate Costs) P143 - Lots 51 & 52 Block 24 Bayfront to La Porte (Approximate Costs) P195 - Tr 5B Abst 5 E Brinson (Approximate Costs - Land Locked) P198 - Lots 3 & 4 Block 89 Town of La Porte (Approximate Costs) Action Required bv Council: nsi r approval of the Resolutions authorizing the constable's office to hold a second public'sale on the properties isted a ove. Date