HomeMy WebLinkAbout(0027) M&C 20-0365City of Fort Worth,
Mayor and
Texas
Council Communication
DATE: 06/02/20 M&C FILE NUMBER: M&C 20-0365
LOG NAME: 21 PMD TF DIRECT SALE 1205 & 1325 JESSAMINE ST (E)
SUBJECT
Authorize Direct Sale of Two (2) Tax -Foreclosed Properties Located at 1205 E. Jessamine Street and 1325 E. Jessamine Street, to Housing
Channel, for a Total Cost of $5,276.00, for the Development of Low -Income Housing, in Accordance with Section 34.051 of the Texas Property Tax
Code and City Ordinance No. 13533 (COUNCIL DISTRICT 8)
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the direct sale of two (2) tax -foreclosed properties located at 1205 E. Jessamine Street and 1325 E. Jessamine Street, to Housing
Channel, for a total cost of $5,276.00, for the development of low-income housing, in accordance with Section 34.051 of the Texas Property Tax
Code and City Ordinance No. 13533; and
2. Authorize the City Manager or his designee to execute and record the appropriate instrument conveying the property to complete the sale.
DISCUSSION:
Housing Channel, a Fort Worth non-profit, submitted direct sale requests to the Property Management Department to purchase the tax -foreclosed
properties referenced below. The City of Fort Worth (City) received the properties through Constable Sales after tax -foreclosure suits. In
accordance with Section 34.051 of the Texas Tax Code, the City is authorized to conduct a direct sale of tax -foreclosed properties to a buyer for
the purpose of affordable housing. The total for the properties is $5,276.00, which includes administrative fees.
In 1998, the City Council approved an ordinance for the conveyance of tax -foreclosed properties to non-profit entities for the development of low-
income housing (M&C G-12284; Ordinance No. 13533). The ordinance allows the City to sell tax -foreclosed properties to eligible non-profit
entities for twenty percent (20%) of the Tarrant Appraisal District Value as long as the property will be used for the development of low-income
housing. Every taxing entity signed an Interlocal Agreement adopting the ordinance and granting its consent to sales made, pursuant to the
ordinance.
Staff recommends the property be sold as outlined below:
TAD
Property
20% of
Court
CFW
Total
Account
Address
Legal Description
TAD Value
Costs
Fee
Purchase
Zoning
Ca
1205 Jessamine
Lot 29, Block 5,
03266001
St (E)
Vickery Southeast
$1,000.00
$787.00
$850.00
$2,637.00
A-5
Addition
1325 Jessamine
Lot 21, Block 8,
03266850
St (E)
Vickery Southeast
$1,000.00
$789.00
$850.00
$2,639.00
A-5
Addition
The buyer is responsible for all related costs, including providing proof of payment of the post -judgment taxes prior to the conveyance of the
property. The total cost includes the purchase price, court costs and applicable fees. The Development Services Department reviewed the current
zoning of the property and determined the zoning classification of the property is compatible with respect to the existing land use of the surrounding
neighborhood and future land use designations indicated in the Comprehensive Plan.
Upon receipt, the amount of $5,276.00 will be deposited into the General Fund Tax -Foreclosed Property Maintenance Fee and Tax Foreclosed
Sales accounts for disbursement to the County for the purpose of distributing proceeds to the taxing entities and paying applicable fees.
The properties are located in COUNCIL DISTRICT 8.
A Form 1295 is not required because: This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that upon approval of the above recommendations, funds will be deposited into the General Fund. The Property
Management Department (and Financial Management Services) is responsible for the collection and deposit of funds due to the City. Prior to any
expenditure being incurred, the Property Management Department has the responsibility of verifying the availability of funds.
Submitted for City Manager's Office by. Dana Burghdoff 8018
Originating Business Unit Head: Steve Cooke 5134
Additional Information Contact: Roger Venables 6334