05-12-14 Regular Meeting of La Porte City Council

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REQUEST FOR CITY COUNCIL AGENDA ITEMREQUEST FOR CITY COUNCIL AGENDA ITEM May 12, 2014May 12, 2014AppropriationAppropriation Agenda Date Requested:Agenda Date Requested: N/A N/A Kathy Powell Kathy Powell Source of Funds:Source of Funds: Requested By: Account Number:Account Number: Finance Finance Department: Amount Budgeted:Amount Budgeted: Report:Resolution:Resolution:Ordinance:Ordinance: Amount Requested:Amount Requested: Other: Budgeted Item:Budgeted Item:YESYESNONO Attachments :Attachments : 1. Resolution1. Resolution 2. Summary of Foreclosure2. Summary of Foreclosure 3. Map SUMMARY & RECOMMENDATIONSSUMMARY & RECOMMENDATIONS 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 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 any time by public or private sale. The City of La Porte has had these properties on our public resale list for 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 more than an adequate amount of time and there has been no interest in purchasing the property at the minimum bid amount set by the judgment. At this time we are requesting the City Council to pass a resolution to lower the bid amount set by the judgment. At this time we are requesting the City Council to pass a resolution to lower the minimum bid, enabling a second public sale by the constableminimum bid, enabling a second public sale by the constables office. This will hopefully get an interested party to s office. This will hopefully get an interested party to purchase these properties, so that the property can be taxable again; or possibly developed. purchase these properties, so that the property can be taxable again; or possibly developed. Section 34.05 (c) The taxing unit purchasing the property by resolution of its governing body may request the Section 34.05 (c) 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 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 ownerwithin six months after the date on which the owners right of redemption terminates (these properties have past 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 the redemption period), any taxing unit that is entitled to receive proceeds of the sale by resolution of its governing the redemption period), any taxing unit that is entitled to receive proceeds of the sale by resolution of its governing 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 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 made under this subsection, the sheriff or constable shall sell the property at a public sale as provided by Subsection (d). The minimum bid was arrived at by either the amount of costs in the judgment or a percentage of the HCAD The minimum bid was arrived at by either the amount of costs in the judgment or a percentage of the HCAD value. The goal is to get the property back on the tax roll as taxable property.value. The goal is to get the property back on the tax roll as taxable property. P240 Lot 5D Shady Oaks Subdivision (Costs Lot 5D Shady Oaks Subdivision (Costs Improvement removed)Improvement removed) Action Required of Council:Action Required of Council: Consider approval or other action of the Resolution authorizing the constableConsider approval or other action of the Resolution authorizing the constables office to hold a second public sale s office to hold a second public sale on the property listed above.on the property listed above.