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<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: September 13. 2010 <br /> <br />Appropriation <br /> <br />Requested By: Kathv Powell <br /> <br />Source of Funds: <br /> <br />Department: Finance <br /> <br />Account Number: <br /> <br />Report: <br /> <br />Resolution: X Ordinance: <br /> <br />Amount Budgeted: <br /> <br />Exhibits: Resolutions <br /> <br />Amount Requested: <br /> <br />Exhibits: Tax Codes Sect 34.05 (a) (c) (d) <br /> <br />t <br /> <br />Budgeted Item: <br /> <br />(YES) <br /> <br />NO <br /> <br />Exhibits: <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />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 <br />any time by public or private sale. The City of La Porte has had these properties on our public resale list for more <br />than an adequate amount of time and there has been no interest in purchasing the property at the minimum bid <br />amount set by the judgment; at this time we are asking the city council to pass a resolution to lower the minimum <br />bid so that we can have a second public sale by the constables office and hopefully get an interested party that will <br />purchase these properties so that they can be taxable again; or even develop the properties. <br /> <br />Section 34.05 (c) The taxing unit purchasing the property by resolution of its governing body may request the sheriff <br />or a constable to sell the property at a public sale. If the purchasing taxing unit has not sold the property within six <br />months after the date on which the owner's right of redemption terminates (these properties have past the <br />redemption period), any taxing unit that is entitled to receive proceeds of the sale by resolution of its governing body <br />may request the sheriff or a constable in writing to sell the property at a public sale. On receipt of a request made <br />under this subsection, the sheriff or constable shall sell the property at a public sale as provided by Subsection (d). <br /> <br />The minimum bid was arrived at by either the amount of costs in the judgment or a percentage of the HCAD value. <br />The goal is to get the property back on the tax roll as taxable property. <br /> <br />PI93 - Lot II Block 1 Oakhurst Addition (56% ofHCAD value) <br />P203 - Tr 20 Block 10 Sylvan Beach (Approximate Costs) <br /> <br /> <br /> <br />to <br /> <br />Date <br />