Title
Resolution - A Resolution Approving Sale of Certain Real Property, Lot 9, Block 2 out of the Hamman Terrace Addition, City of Mansfield, Texas
Requested Action
Approval of Resolution Approving A Bid for the Sale of Certain Real Property, Described as Lot 9, Block 2, Out of the Hamman Terrace Addition, City of Mansfield, Texas, also known as 234 Billingslea Drive
Recommendation
Defer to Council’s Review and Consideration
Description/History
This property located at 234 Billingslea Drive, was struck off to the City as the Trustee at a foreclosure sale on February 3, 2015. According to the attached letter, dated August 19, 2015, from the City’s tax delinquent attorney, Linebarger Goffan Blair & Sampson, a bid for this property has been submitted by Fort Worth Area Habitat for Humanity, Inc. (FWAHH) in the amount of $6,000.00. Of this amount, $3,588.94 will pay all post-judgment taxes due, leaving a balance of $3,515.00 to be prorated to all of the taxing entities. The city’s share will be $947.50.
Also included in the bid by FWAHH, was their offer to demo the current sub-standard structure estimated at a cost of $5,900.00. They intend to construct a new affordable home on this property, similar to the other homes they have constructed in this immediate area.
If Council approves this Resolution, the bid will be submitted to the other taxing entities for their approval.
Justification
Taking a currently tax delinquent property and making it a taxable property, with a new affordable home on it.
Funding Source
N/A
Prepared By
Chris Burkett, Assistant City Manager