10-14-13 Regular Meeting of La Porte City Council

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REQUEST FOR CITY COUNCIL AGENDA ITEM Agenda Date Requested:October 14, 2013_ __Appropriation :Kathy Powell _ ______Source of Funds: ____________ Requested By Finance_________________________Account Number:____ Department: __Resolution: _X__Ordinance: ___ _Amount Budgeted: ____________ Report: Exhibits: _Resolution___________________Amount Requested: __________________ Exhibits: __Summary of ForeclosureBudgeted Item: (YES)NO Exhibits: __Map_& Appraisal ___________ SUMMARY & RECOMMENDATION Property that is sold orstruck off to a taxing unit, whichis 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 bythe judgment; at this time we are asking the city council to pass a resolution to lower the minimum bidto $60,000 dollars based on appraisal by Choke& Associates, Inc.($3.00 sq ft for 20,000 sq ft). We can requesta second public sale by the constable’soffice and hopefully get an interested party topurchase these properties. In accordance with Section 34.05 (c)of the Texas Property Tax Code, 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), which sets the limits for a second sale. The following describes the properties: P252(A)–Lots 1,2, 3, 4, 5, 6&N10ft of 7Block 330Town of La Porte Action Required by Council: Consider approval of the Resolution authorizing the constable’s office to hold a second public sale on the properties listed above. Approved for City Council Agenda ___________________________________________________________ Corby D. Alexander,City ManagerDate