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<br />e <br /> <br />e <br /> <br />.... <br /> <br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: A ril 8 2002 <br /> <br /> <br />Appropriation <br /> <br />Requested By: <br /> <br />rce of Funds: N/A <br /> <br />Department: Finance <br /> <br />Account Number: <br /> <br />Report: <br /> <br />Resolution: XX Ordinance: <br /> <br />Amount Budgeted: <br /> <br />Exhibits: <br /> <br />HCAD Map 6253B <br /> <br />Amount Requested: <br /> <br />Exhibits: <br /> <br />Property Offer <br /> <br />Budgeted Item: YES NO <br /> <br />Exhibits: <br /> <br />HeAD Appraisal Records <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />On February 2, 2000, property located at 618 S Ohio Street was offered for public bid via a "Sheriff's <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, San Jacinto <br />Community College District and Harris County. <br /> <br />The property comprises 2 city lots and 2 partial lots and is approximately 58' by 125', or 7,250 square <br />feet. <br /> <br />The La Porte Tax Office has actively marketed this property for resale and received several bids on the <br />property. The first bid was for $3,500 and the final bid was for $4,200. The $4,200 bid is a bid by Paul <br />and Sherry Erickson, who own property adjacent to the property being resold. <br /> <br />The property is on the Harris County Appraisal District Roll with an appraised value of $5,100. <br />Delinquent Taxes on the property total approximately $14,600 (12 years worth). Since the offer received <br />for the resale is less than either of these values. The offer requires approval by each of the three taxing <br />entities before the resale can take place. If all three entities approve, the sale will occur with each entity <br />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 will care for and <br />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 Paul and Sherry Erickson. <br /> <br />FUND N/A <br /> <br />ACCT NUM: <br /> <br />FUNDS AVAILABLE: <br /> <br />APPROVED FOR CITY COUNCIL AGENDA <br />~ T \.l~ <br />ROBERT T. HERRERA, CITY MANAGER <br /> <br />4.- S~i:)'L <br />DATE <br />