2001-02-26 Regular Meeting - Laserfiche WebLink

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e e REQUEST FOR CITY COUNCIL AGENDA ITEM Agenda Date Requested: Februarv 26. 2001 Appropriation Requested By: ~)'nthia Alexander Source of Funds: N/A Department: Finanee Account Number: Report: Resolution: XX Ordinance: Amount Budgeted: Exhibits: HCAD Map Amount Requested: Exhibits: Property Offer Budgeted Item: YES NO Exhibits: HCAD Appraisal Record SUMMARY & RECOMMENDATION On February 2,2000, property located at 513 S Virginia Street was offered for public bid via a "Sheriffs Sale". This property was offered because the property owner had not paid taxes on the property for several years. When no one bid on the property, the title to the property reverted to the La Porte Tax Office as Trustee for the City of La Porte, the La Porte Independent School District and Harris County. The property comprises 1 city lot and 2 partial lots and is approximately 61.50' by 130', or 7,995 square feet. The property also contains a house, which is in a state of disrepair. The La Porte Tax Office has actively marketed this property for resale and received several bids on the property. The fIrst bid was for $4,000 and the fInal bid was for $5,500. The $5,500 bid is a bid by Paul and Elaine Schraider, who own property adjacent to the property being resold. The property is on the Harris County Appraisal District Roll with an appraised value of $29,300. Delinquent Taxes on the property total approximately $21,500 (12 years worth). Since the offer received for the resale is less than either of these values, it requires approval by each of the three taxing entities before the resale can take place. If all three entities approve, the sale will occur with each entity receiving its pro-rata share of the tax distribution. Even though we are reselling this property for less than is due on the property, staff believes the absorption of the loss is necessary to get the property into the hands of a owner who will care for and maintain the property as well as pay taxes on it in the future. The improvement to the property is a building that is in ill-repair. It is the responsibility of the purchaser to demolish the existing structure. ACTION REQUIRED BY COUNCIL: Approve resolution authorizing the resale of the tax properties to Paul and Elaine Schaider. FUND N/ A ACCT NUM: FUNDS AVAILABLE: APPROVED FOR CITY COUNCIL AGENDA ~J,.J. ,. ~~ .. ROBERT T. HERRERA, CITY MANAGER ;)... a~- () \ DATE