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<br />. <br /> <br />. <br /> <br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: Januar <br /> <br /> <br />Appropriation <br /> <br />Requested By: <br /> <br />Source of Funds: Nt A <br /> <br />Department: Finanee <br /> <br />Account Number: <br /> <br />Report: <br /> <br />Resolution: XX Ordinance: <br /> <br />Amount Budgeted: <br /> <br />HCAD Map <br /> <br />Amount Requested: <br /> <br />Exhibits: <br /> <br />Exhibits: <br /> <br />Property Offer <br /> <br />Budgeted Item: YES NO <br /> <br />Exhibits: <br /> <br />HCAD Appraisal Record <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />On March 6, 2001, property located at 1003 S Third Street was offered for public bid via a "Sheriffs <br />Sale". This property was offered because the property owner had not paid taxes on the property for <br />several years. When no one bid on the property, the title to the property reverted to the La Porte Tax <br />Office as Trustee for the City of La Porte, the La Porte Independent School District and Harris County. <br /> <br />The property comprises 1 city lot and 2 partial lots and is approximately 57' by 125', or 7,125 square feet. <br /> <br />The La Porte Tax Office received an offer from Sonia Deaquino in the amount of $8,690, which is higher <br />than the value of a typical lot in this area. <br /> <br />The property at the time of judgment was listed with the Harris County Appraisal District Roll with an <br />appraised value of $22,500. Delinquent Taxes and costs on the property total approximately $23,735 (17 <br />years worth). Since the offer received for the resale is less than either of these values, it requires approval <br />by each of the three taxing entities before the resale can take place. If all three entities approve, the sale <br />will occur with each entity receiving its pro-rata share of the tax distribution. <br /> <br />Even though we are reselling this property for less than is due on the property, staff believes the <br />absorption of the loss is necessary to get the property into the hands of a owner who has the intentions to <br />rebl:rild, care for and maintain the property as well as pay taxes on it in the future. <br /> <br />ACTION REQUIRED BY COUNCIL: <br /> <br />Approve resolution authorizing the resale of the tax properties to Sonia Deaquino. <br /> <br />FUND <br /> <br />N/A <br /> <br />ACCT NUM: <br /> <br />FUNDS AVAILABLE <br /> <br /> <br />L -10-01 <br />DAT <br /> <br />D <br />