HomeMy WebLinkAboutContract 47210 CONTRACT OF SALE AND PURCHASE
(Sale by City of Fort Worth of Tax Foreclosed Property)
THIS CONTRACT OF SALE AND PURCHASE ("Contract") is made and entered into
by and between the CITY OF FORT WORTH, a home rule municipal corporation acting
by and through Fernando Costa, its duly authorized Assistant City Manager, acting for
the use and benefit of itself and the County of Tarrant, JPS Hospital District, Tarrant
County College District, Tarrant County Right of Way District, Tarrant County Regional
Water District, Fort Worth Independent School District and the Tarrant County Education
District (collectively, "Seller") and Tarrant County Housing Partnership, Inc., a Texas
non-profit corporation ("Purchaser") as of the date on which this Contract is executed by
the last to sign of Seller and Purchaser ("Effective Date").
RECITALS
1. Seller is the owner of 1004 E. Harvey Avenue, 1005 E. Harvey Avenue, 1121 E.
Harvey Avenue, 945 E. Jessamine Street and 1244 E. Jessamine Street together
with any easements, rights-of-way, licenses, interests, benefits, privileges and
rights appurtenant thereto (collectively, the "Property"), as shown and more
particularly described on the attached Exhibit "A", incorporated herein for all
purposes.
2. Pursuant to Section 34.051 of the Texas Property Tax Code, the taxing entities
comprising Seller have entered into an Interlocal Agreement to allow for the sale
of tax-foreclosed properties to eligible non-profit entities for the development of
low-income housing for 20% of the Tarrant Appraisal District value.
3. Purchaser is an eligible non-profit entity and a Community Housing Development
Organization that desires to acquire the Property for the development of low-
income housing.
4. The City of Fort Worth, on behalf of Seller, approved the conveyance of the
Property to Purchaser for 20% of the Tarrant Appraisal District Value in M&C L-
15686.
AGREEMENT
In consideration of the mutual covenants, representations, warranties and
agreements contained herein, and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, Seller and Purchaser agree as follows:
n
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Tarrant County Housing Partnership,Inc.
1004, 1005, 1121 E. Harvey Ave. and 945, 1244 E. Jessamine St. 10/28/2015
Section 1. Agreement of Sale and Purchase.
(a) Seller agrees to sell and convey the Property to Purchaser, and Purchaser
agrees to purchase and accept the Property from Seller, for the purchase price (as defined
below), subject to the terms and conditions set forth in this Contract.
(b) Seller shall convey the Property to Purchaser in "AS IS" condition free
and clear of all City liens, but subject to ad valorem taxes accruing after the Judgment, if
any.
Section 2. Purchase Price. The purchase price ("Purchase Price") for the Property,
payable by Purchaser to Seller in cash at Closing (defined below), is $8,079.73, as shown
and more particularly described on the attached Exhibit "B", incorporated herein for all
purposes.
Section 3. Title Commitment and Survey.
(a) Purchaser may obtain at Purchaser's sole cost and expense (i) a
Commitment for Title Insurance and Title Policy ("Title Commitment") from the Title
Company of Purchaser's choice ("Title Company"), setting forth the status of the title of
the Property and showing all claims, easements, rights-of-way, reservations, restrictions,
encroachments, tenancies, and any other encumbrances (collectively, the
"Encumbrances") Encumbrances and other matters, if any, relating to the Property; and
(ii) a legible copy of all documents referred to in the Title Commitment, including but not
limited to, plats, reservations, restrictions, and easements.
(b) Purchaser may, at its sole cost and expense, obtain a survey ("Survey") of
the Property.
Section 4. Representations, Warranties, "AS IS"
(a) EXCEPT AS EXPRESSLY STATED IN THIS AGREEMENT,
PURCHASER ACKNOWLEDGES AND AGREES THAT SELLER HAS NOT
MADE, DOES NOT MAKE AND SPECIFICALLY NEGATES AND DISCLAIMS
ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS,
AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER
WHATSOEVER, WHETHER EXPRESS OR IMPLIED, ORAL OR WRITTEN,
PAST, PRESENT OR FUTURE, OF, AS, TO CONCERNING OR WITH
RESPECT TO (A) THE VALUE, NATURE, QUALITY OR CONDITION OF THE
PROPERTY INCLUDING, WITHOUT LIMITATION, THE WATER, SOIL AND
GEOLOGY, (B) THE INCOME TO BE DERIVED FROM THE PROPERTY, (C)
THE SUITABILITY OF THE PROPERTY FOR ANY AND ALL ACTIVITIES
AND USES WHICH PURCHASER MAY CONDUCT THEREON, (D) THE
COMPLIANCE OF OR BY THE PROPERTY OR ITS OPERATION WITH ANY
LAWS, RULES, ORDINANCES OR REGULATIONS OF ANY APPLICABLE
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Tarrant County Housing Partnership, Inc.
1004, 1005, 1121 E. Harvey Ave. and 945, 1244 E. Jessamine St. 10/28/2015
GOVERNMENTAL AUTHORITY OR BODY, (E) THE HABITABILITY,
MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR FITNESS
FOR A PARTICULAR PURPOSE OF THE PROPERTY, (F) THE MANNER OR
QUALITY OF THE CONSTRUCTION OR MATERIALS, IF ANY,
INCORPORATED INTO THE PROPERTY, (G) THE MANNER, QUALITY,
STATE OF REPAIR OR LACK OF REPAIR OF THE PROPERTY, OR (H) ANY
OTHER MATTER WITH RESPECT TO THE PROPERTY, AND
SPECIFICALLY, THAT SELLER HAS NOT MADE, DOES NOT MAKE AND
SPECIFICALLY DISCLAIMS ANY REPRESENTATIONS REGARDING
COMPLIANCE WITH ANY ENVIRONMENTAL PROTECTION, POLLUTION
OR LAND USE LAWS, RULES, REGULATIONS, ORDERS OF
REQUIREMENTS, INCLUDING SOLID WASTE, AS DEFINED BY THE U. S.
ENVIRONMENTAL PROTECTION AGENCY REGULATIONS AT 40 C.F.R.,
PART 261, OR THE DISPOSAL OR EXISTENCE IN OR ON THE PROPERTY,
OF ANY HAZARDOUS SUBSTANCE, AS DEFINED BY THE
COMPREHENSIVE ENVIRONMENTAL RESPONSE COMPENSATION AND
LIABILITY ACT OF 1980, AS AMENDED, AND REGULATIONS
PROMULGATED THEREUNDER. PURCHASER FURTHER
ACKNOWLEDGES AND AGREES THAT HAVING BEEN GIVEN THE
OPPORTUNITY TO INSPECT THE PROPERTY, PURCHASER IS RELYING
SOLELY ON ITS OWN INVESTIGATION OF THE PROPERTY AND NOT ON
ANY INFORMATION PROVIDED OR TO BE PROVIDED BY SELLER. AS A
MATERIAL PART OF THE CONSIDERATION FOR THIS AGREEMENT,
SELLER AND PURCHASER AGREE THAT PURCHASER IS TAKING THE
PROPERTY "AS IS" WITH ANY AND ALL LATENT AND PATENT DEFECTS
AND THAT THERE IS NO WARRANTY BY SELLER THAT THE PROPERTY
IS FIT FOR A PARTICULAR PURPOSE. PURCHASER ACKNOWLEDGES
THAT IT IS NOT RELYING UPON ANY REPRESENTATIONS, STATEMENTS,
ASSERTIONS OR NON-ASSERTIONS BY THE SELLER WITH RESPECT TO
THE PROPERTY CONDITION, BUT IS RELYING SOLELY UPON ITS
EXAMINATION OF THE PROPERTY. PURCHASER TAKES THE PROPERTY
UNDER THE EXPRESS UNDERSTANDING THERE ARE NO EXPRESS OR
IMPLIED WARRANTIES (EXCEPT FOR LIMITED WARRANTIES OF TITLE
SET FORTH IN THE CLOSING DOCUMENTS). UPON CONVEYANCE, AS
BETWEEN SELLER AND PURCHASER, THE RISK OF LIABILITY OR
EXPENSE FOR ENVIRONMENTAL PROBLEMS AFFECTING THE
PROPERTY, EVEN IF ARISING FROM EVENTS BEFORE CLOSING, WILL
BE THE SOLE RESPONSIBILITY OF PURCHASER, REGARDLESS OF
WHETHER THE ENVIRONMENTAL PROBLEMS WERE KNOWN OR
UNKNOWN AT CLOSING. ONCE CLOSING HAS OCCURRED, PURCHASER
INDEMNIFIES, HOLDS HARMLESS AND RELEASES SELLER FROM
LIABILITY FOR ENVIRONMENTAL PROBLEMS AFFECTING THE
PROPERTY, INCLUDING, BUT NOT LIMITED TO, UNDER THE
COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION AND
LIABILITY ACT ("CERCLA"), THE RESOURCE CONSERVATION AND
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Tarrant County Housing Partnership, Inc.
1004, 1005, 1121 E. Harvey Ave. and 945, 1244 E. Jessamine St. 10/28/2015
RECOVERY ACT (RCRA), THE TEXAS SOLID WASTE DISPOSAL ACT OR
THE TEXAS WATER CODE. PURCHASER INDEMNIFIES, HOLDS
HARMLESS AND RELEASES SELLER FROM ANY LIABILITY FOR
ENVIRONMENTAL PROBLEMS OR CONDITIONS AFFECTING THE
PROPERTY ARISING AS THE RESULT OF SELLER'S OWN NEGLIGENCE
OR THE NEGLIGENCE OF SELLER'S REPRESENTATIVES, BUT NOT ANY
WILLFUL ACTS OR OMISSIONS OR GROSS NEGLIGENCE OF SELLER OR
SELLER'S REPRESENTATIVES. PURCHASER INDEMNIFIES, HOLDS
HARMLESS AND RELEASES SELLER FROM ANY LIABILITY FOR
ENVIRONMENTAL PROBLEMS OR CONDITIONS AFFECTING THE
PROPERTY ARISING AS A RESULT OF THEORIES OF PRODUCTS
LIABILITY AND STRICT LIABILITY, OR UNDER NEW LAWS OR CHANGES
TO EXISTING LAWS ENACTED AFTER CONVEYANCE DATE THAT
WOULD OTHERWISE IMPOSE ON SELLER IN THIS TYPE OF
TRANSACTION NEW LIABILITIES FOR ENVIRONMENTAL PROBLEMS OR
CONDITIONS AFFECTING THE PROPERTY. PROVISIONS OF THIS
SECTION SHALL SURVIVE THE CLOSING. IT IS UNDERSTOOD AND
AGREED THAT THE PURCHASE PRICE HAS BEEN ADJUSTED BY PRIOR
NEGOTIATION TO REFLECT THAT ALL OF THE PROPERTY IS SOLD BY
SELLER AND PURCHASED BY PURCHASER SUBJECT TO THE
FOREGOING. PURCHASER ACKNOWLEDGES AND ACCEPTS ALL THE
TERMS AND PROVISIONS BY HIS ACCEPTANCE HEREOF.
(b.) The provisions of Section 4(a) shall be incorporated into the Tax Resale
Deed Without Warranty
(c.) The provisions of Section 4(a) shall survive the closing (as defined
below).
Section 5. Closing Contingencies.
(a) The closing ("Closing") of the sale of the Property by Seller to Purchaser
shall occur through the office of the Title Company if any, or at Seller's offices no more
than 15 days after the satisfaction of the following contingencies to Closing ("Closing
Contingencies"), but not later than The Closing Contingencies are as follows:
Satisfactory completion of environmental review under 24 CFR Part 58
and receipt by the City of Fort Worth ("City") of a release of funds from
the United States Department of Housing and Urban Development
("HUD")for Purchaser's intended use of the Property.
(b) Purchaser agrees to pursue the approvals and agreements described in the
Closing Contingencies above with reasonable diligence. Seller agrees to cooperate fully
with Purchaser in connection with Purchaser's pursuit of the above approvals.
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Tarrant County Housing Partnership,Inc.
1004, 1005, 1121 E. Harvey Ave. and 945, 1244 E. Jessamine St. 10/28/2015
(c) If any Closing Contingencies are not satisfied to Purchaser's satisfaction
so that Purchaser is prepared to close on or before October 30, 2015, then Purchaser may
terminate this Contract.
Section 6. Closing.
(a) At the Closing, all of the following shall occur, all of which are deemed
concurrent conditions:
(1) Seller, at Seller's sole cost and expense, shall deliver or cause to be
delivered to Purchaser the following:
(i) A Tax Resale Deed Without Warranty ("Deed"), fully
executed and acknowledged by Seller, conveying to Purchaser title
to the Property subject to existing easements, rights-of-way, and
prescriptive rights, whether of record or not, with the precise form
of the Deed to be determined pursuant to Section 1 I below;
(ii) Any other instrument or document necessary for any Title
Company to issue the Owner Policy in accordance with Section
9(a)(3) below.
(2) Purchaser, at Purchaser's sole cost and expense, shall deliver or
cause to be delivered to Seller through the Title Company federally wired
funds or such other means of funding acceptable to Seller, in an amount
equal to the Purchase Price, adjusted for closing costs and prorations.
(3) The Title Company shall issue to Purchaser, at Purchaser's sole
cost and expense, a Texas Owner Policy of Title Insurance ("Owner
Policy") issued by Title Company in the amount of the Purchase Price
insuring that, after the completion of the Closing, Purchaser is the owner
of title to the Property, subject only to the Permitted Encumbrances, and
the standard printed exceptions included in a Texas Standard Form Owner
Policy of Title Insurance; provided, however, the printed form survey
exception shall be limited to "shortages in area," the printed form
exception for restrictive covenants shall be deleted except for those
restrictive covenants that are Permitted Encumbrances, there shall be no
exception for rights of parties in possession, and the standard exception for
taxes shall read: "Standby Fees and Taxes for [the year of Closing] and
subsequent years, and subsequent assessments for prior years due to
change in land usage or ownership".
(4) Seller and Purchaser shall each pay their respective attorneys' fees.
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Tarrant County Housing Partnership, Inc.
1004, 1005, 1121 E. Harvey Ave. and 945, 1244 E. Jessamine St. 10/28/2015
(5) Except as otherwise provided herein, all costs and expenses in
connection with Closing shall be paid or borne by Purchaser including
without limitation, filing fees, Title Company attorney and escrow or
settlement fees, costs of tax certificates, survey costs, and title insurance
policy costs.
(b) Ad valorem and similar taxes and assessments which are subsequent to
and not included in the Judgment, if any, relating to the Property shall paid by Purchaser
as of the Closing
Section 7. Agents. Seller and Purchaser each represent and warrant to the
other that it has not engaged the services of any agent, broker, or other similar party in
connection with this transaction except the following: NONE
Section 8. Closing Documents. DELETED BY AGREEMENT OF THE
PARTIES.
Section 9. Notices.
(a) Any notice under this Contract shall be in writing and shall be deemed to
have been served if(i) delivered in person to the address set forth below for the party to
whom the notice is given, (ii) delivered in person at the Closing (if that party is present at
the Closing), (iii) placed in the United States mail, return receipt requested, addressed to
such party at the address specified below, or (iv) deposited into the custody of Federal
Express Corporation to be sent by FedEx Overnight Delivery or other reputable overnight
carrier for next day delivery, addressed to the party at the address specified below.
(b) The address of Seller under this Contract is:
City of Fort Worth
1000 Throckmorton Street
Fort Worth, Texas 76102
Attention: Neighborhood Services, Bette Chapman
Telephone: 817-392-6125
With a copy to:
City Attorney's Office
1000 Throckmorton St.
Fort Worth, Texas 76102
Attn: Leann Guzman
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Tarrant County Housing Partnership, Inc.
1004, 1005, 1121 E. Harvey Ave. and 945, 1244 E. Jessamine St. 10/28/2015
(c) The address of Purchaser under this Contract is:
Tarrant County Housing Partnership, Inc.
3204 Collinsworth St.
Fort Worth, TX 76107
Attn: Donna VanNess, President
(817) 924-5091 Office
(d) From time to time either party may designate another address or telecopy
number under this Contract by giving the other party advance written notice of the
change.
Section 10. Termination, Default, and Remedies.
(a) If Purchaser fails or refuses to consummate the purchase of the Property
pursuant to this Contract at the Closing for any reason other than termination of this
Contract by Purchaser pursuant to a right so to terminate expressly set forth in this
Contract or Seller's failure to perform Seller's obligations under this Contract, then Seller,
as Seller's sole and exclusive remedy, shall have the right to terminate this Contract by
giving written notice thereof to Purchaser prior to or at the Closing, whereupon neither
party hereto shall have any further rights or obligations hereunder.
(b) If Seller fails or refuses to consummate the sale of the Property pursuant to
this Contract at Closing or fails to perform any of Seller's other obligations hereunder
either prior to or at the Closing for any reason other than the termination of this Contract
by Seller pursuant to a right so to terminate expressly set forth in this Contract or
Purchaser's failure to perform Purchaser's obligations under this Contract, then Purchaser
shall have the right to terminate this Contract by giving written notice thereof to Seller
prior to or at the Closing and neither party hereto shall have any further rights or
obligations hereunder.
Section 11. Entire Contract. This Contract (including the attached exhibits)
contains the entire contract between Seller and Purchaser, and no oral statements or prior
written matter not specifically incorporated herein is of any force and effect. No
modifications are binding on either party unless set forth in a document executed by that
party.
Section 12. Assigns. This Contract inures to the benefit of and is binding on the
parties and their respective legal representatives, successors, and assigns. Any attempted
assignment shall be void.
Section 13. Time of the Essence. It is expressly agreed that time is of the essence
with respect to this Contract.
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Tarrant County Housing Partnership, Inc.
1004, 1005, 1121 E. Harvey Ave. and 945, 1244 E. Jessamine St. 10/28/2015
Section 14. Taking Prior to Closing. If, prior to Closing, the Property or any
portion thereof becomes subject to a taking by virtue of eminent domain, Purchaser may,
in Purchaser's sole discretion, either (i) terminate this Contract whereupon any Earnest
Money shall be returned to Purchaser, and neither party shall have any further rights or
obligations hereunder, or (ii) proceed with the Closing of the transaction with an
adjustment in the Purchase Price to reflect the net square footage of the Property after the
taking.
Section 15. Governing Law. This Contract shall be governed by and construed in
accordance with the laws of the State of Texas.
Section 16. Performance of Contract. The obligations under the terms of the
Contract are performable in Tarrant County, Texas, and any and all payments under the
terns of the Contract are to be made in Tarrant County, Texas.
Section 17. Venue. Venue of any action brought under this Contract shall be in
Tarrant County, Texas if venue is legally proper in that county.
Section 18. Severability. If any provision of this Contract is held to be invalid,
illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability will
not affect any other provision, and this Contract will be construed as if such invalid,
illegal, or unenforceable provision had never been contained herein.
Section 19. Business Days. If the Closing or the day for performance of any act
required under this Contract falls on a Saturday, Sunday, or legal holiday for the City of
Fort Worth or federal holiday, then the Closing or the day for such performance, as the
case may be, shall be the next following regular business day.
Section 20. Multiple Counterparts. This Contract may be executed in any
number of identical counterparts. If so executed, each of such counterparts is to be
deemed an original for all purposes, and all such counterparts shall, collectively,
constitute one agreement, but, in making proof of this Contract, it shall not be necessary
to produce or account for more than one such counterpart.
[SIGNATURES APPEAR ON THE FOLLOWING PAGE]
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Tarrant County Housing Partnership, Inc.
1004, 1005, 1121 E. Harvey Ave. and 945, 1244 E. Jessamine St. 10/28/2015
This Contract is executed as of the Effective Date,
SELLER: CITY OF FORT WORTH, TEXAS
By:
Fernando Costa Assstant City Manager
Date: 10728416-
Rr
Attest
fi
Mary'J. Ka s ®�
City Secretaiy, a 00".a0a
M&CL-15686
Approved as to Legality and Form
l r
,'Assistant City A orney
PURCHASER:
TARRANT COUNTY HOUSING PARTNERSHIP, INC.
By:
Name:
Title:
Date:
Jul I�I
1/ �
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1004, 1005, 1121 E. Harvey Ave. and 945 and 1244 E. Jessamine St. 10/28/2015
This Contract is executed as of the Effective Date.
SELLER:
CITY OF FORT WORTH, TEXAS
By:
Fernando Costa, Assistant City Manager
Date:
Attest
Mary J. Kayser
City Secretary
M&CL-15686
Approved as to Legality and Form
Assistant City Attorney
PURCHASER:
TARRANT COUNTY HOUSING PARTNERSHIP, INC.
By. r—N esr�
Donnd,.Van oss, P es dent
Date: ...,, M
t R
�
A,
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Tarrant County Housing Partnership, Inc.
1004, 1005, 1121 E. Harvey Ave. and 945, 1244 E. Jessamine St. 10/28/2015
i
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By its execution below, Title Company acknowledges receipt of any Earnest Money
described in this Contract and agrees to hold and deliver the same and perform its other
duties pursuant to the provisions of this Contract.
TITLE COMPANY:
By:
Name:
Title: lac fyV c�
Date:
Phone !&j:7LCe
Providence We Company
4107 S. Bowen Road,Suite 1011
Arlington,Texas 76016
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TX
7
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Tarrant County Housing Partnership,Inc.
1004, 1005, 1121 E. Harvey Ave. and 945, 1244 E. Jessamine St. 10/28/2015
EXHIBIT "A"
Description of Property
1004 E. Harvey Avenue:
Lot 2, Block 35, Southland Subdivision, situated in the City of Fort Worth, Tarrant
County, Texas, and located within the Fort Worth Independent School District, as shown
by a Deed of Record in Volume 11379, Page 1829 of the Deed Records of Tarrant
County, Texas. (Account No. 02857391)
Also known as Lot 2, Block 35, SOUTHLAND SUBDIVISION, an addition to the City
of Fort Worth, Tarrant County, Texas, according to the plat thereof recorded in Volume
310, Page 11 of the Plat Records of Tarrant County, Texas.
1005 E. Harvey Avenue:
Lot 35, Block 36, Southland Subdivision, situated in the City of Fort Worth, Tarrant
County, Texas, and located within the Fort Worth Independent School District, as shown
by a Deed of Record in Volume 3038, Page 592 of the Deed Records of Tarrant County,
Texas. (Account No. 2858150)
Also known as Being Lot 35, Block 36, of SOUTHLAND SUBDIVISION, an addition to
the City of Fort Worth, Tarrant County, Texas, according to the map or plat thereof
recorded in Volume 310, Page 11, of the Plat Records, Tarrant County, Texas.
1121 E. Harvey Avenue:
Lot 20, Block 36, Southland Subdivision, Fort Worth, Tarrant County, Texas. (Account
No. 2857987)
Also known as Being Lot 20, Block 36, of SOUTHLAND SUBDIVISION, an addition to
the City of Fort Worth, Tarrant County, Texas, according to the map or plat thereof
recorded in Volume 310, Page 11, of the Plat Records, Tarrant County, Texas.
945 E. Jessamine Street:
Lot 19, Block 31, Southland Subdivision Addition, situated in the City of Fort Worth,
Tarrant County, Texas, as shown by a Deed of Record in Volume 12025, Page 28 of the
Deed Records of Tarrant County, Texas. (Account No. 2856123)
Also known as Being Lot 19, Block 31, of Southland Subdivision, an addition to the City
of Fort Worth,Tarrant County, Texas, according to the map or plat thereof recorded in
Volume 310, Page 11, of the Plat Records, Tarrant County, Texas.
1244 E. Jessamine Street:
Lot 11 and 12, Block 6, Vickery Southeast Addition, an addition to the City of Fort
Worth, Tarrant County, Texas, and located within the Fort Worth Independent School
District.
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Tarrant County Housing Partnership, Inc.
1004, 1005, 1121 E. Harvey Ave. and 945, 1244 E. Jessamine St. 10/28/2015
Also known as Being Lots 11 and 12, Block 6, of Vickery Southeast Addition, an
addition to the City of Fort Worth, Tarrant County, Texas, according to the map or plat
thereof recorded in Volume 310, Page 56, of the Plat Records, Tarrant County, Texas.
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Tarrant County Housing Partnership, Inc.
1004, 1005, 1121 E. Harvey Ave. and 945, 1244 E. Jessamine St. 10/28/2015
EXHIBIT "B"
Sales Price of Property
20% of TAD Value (Sales Post-Judgement
Address TAD Value Price Under Ordinance) Taxes Total
945 E.
Jessamine
Avenue $5,000.00 $1,000.00 $180.55 $1,180.55
1004 E.
Harvey
Avenue $5,000.00 $1,000.00 $363.24 $1,363.24
1005 E.
Harvey
Avenue $5,000.00 $1,000.00 $2,517.61 $3,517.61
1121 E.
Harvey
Street $5,000.00 $1,000.00 $718.33 $1,718.33
1244 E.
Jessamine
Street $1,500.00 $300.00 $0.00 $300.00
Total $21,500.00 $4,300.00 $3,779.73 $8,079.73
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Tarrant County Housing Partnership, Inc.
1004, 1005, 1121 E. Harvey Ave. and 945, 1244 E. Jessamine St. 10/28/2015
M&C Review Page 1 of 2
Official site of the City of Fort Worth,Texas
AM
L FORT IVoR`TfI
COUNCIL ACTION: Approved on 6/3/2014
DATE: 6/3/2014 REFERENCE NO.: **L-15686 LOG NAME: 17DIRECTSALETCHP
CODE: L TYPE: CONSENT PUBLIC NO
HEARING:
SUBJECT: Authorize Direct Sale of Twelve Tax-Foreclosed Properties to Tarrant County Housing
Partnership, Inc., in the Amount of$11,360.00 for the Development of Low-Income
Housing (COUNCIL DISTRICT 8)
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the direct sale of twelve tax-foreclosed properties to Tarrant County Housing Partnership,
Inc., in the amount of$11,360.00 for the development of low-income housing, in accordance with Section
34.05(i) of the Texas Tax Code; and
2. Authorize the execution and recording of the appropriate instruments conveying the property to
complete the sale.
DISCUSSION:
The City of Fort Worth received the property referenced below through Constable's sales after a tax-
foreclosure suit. Pursuant to Section 34.05(i) of the Texas Tax Code, the City is authorized to sell tax-
foreclosed properties for any price with the consent of the other taxing entities who are entitled to receive
proceeds under the tax judgment.
In 1998, (M&C G-12284) the City Council approved an ordinance for the conveyance of tax-foreclosed
properties to non-profit entities for the development of low-income housing. The ordinance allows the
City to sell tax-foreclosed properties to eligible non-profit entities for 20 percent of the Tarrant Appraisal
District Value as long as the property will be used for the development of low-income housing. Every
taxing entity has signed an Interlocal Agreement adopting the ordinance and granting its consent to sales
made, pursuant to the ordinance.
Tarrant County Housing Partnership (TCHP) has requested to purchase 12 properties in Council District
8 pursuant to the low-income housing development ordinance. Staff recommends that the properties be
sold to TCHP at a sales price equal to 20 percent of Tarrant Appraisal District value, as outlined below:
20
Percent
of TAD
Address TAD No. Current TAD Value Mapsco
Zoning Value (Sales Information
Price
Under
Ordinance)
923 Allen Avenue E 01411896 A-5 $ 5,000.00 $ 1,000.00 077P
1116 Allen Avenue E 01412558 A-5 $ 5,000.00 $ 1,000.00 077Q
http://apps.cfwnet.org/council_packet/mc—review.asp?ID=l 9856&councildate=6/3/2014 10/20/2015
M&C Review Page 2 of 2
1203 Allen Avenue E ( 01413015 1 $13,200.0011 $ 2,640.00 077Q
1113 Baltimore Avenue 02859181 A-5 $ 5,000.00 $ 1,000.00 077Q
1004 Harvey Avenue E 02857391 A-5 $ 5,000.00 $ 1,000.00 077P
1005 Harvey Avenue E 02858150 A-5 $ 5,000.00 $ 1,000.00 077P
1121 Harvey Avenue E 02857987 A-5 $ 5,000.00 $ 1,000.00 077Q
945 Jessamine Street 02856123 A-5 $ 5,000.00 $ 1,000.00 077T
E
1205 Jessamine Street E 03266001 A-5 $ 1,100.00 220.00 0770
1244 Jessamine Street E 04708202 A-5 $ 1,500.00 300.00 077U
1325 Jessamine Street E 03266850 A-5 $ 1,000.00 200.00 077U
1003 Richmond Avenue E 02859734 A-5 $ 5,000.00 $ 1,000.00 077P
TOTAL $11,360.00
The Planning and Development Department has reviewed the current zoning of these properties as
noted and has determined that the zoning classifications are compatible with the Comprehensive Plan.
All the properties are located in COUNCIL DISTRICT 8.
FISCAL INFORMATION/CERTIFICATION:
The Financial Management Services Director certifies that the Housing and Economic Development
Department is responsible for the collection and deposit of funds to the City.
TO Fund/Account/Centers FROM Fund/Account/Centers
GG01 240126 0000000 $11,360.00
Submitted for City Manager's Office by: Fernando Costa (6122)
Originating Department Head: Jay Chapa (5804)
Additional Information Contact: Cynthia Garcia (8187)
Bette Chapman (6125)
ATTACHMENTS
http://apps.cfwnet.org/council_packet/mc review.asp?ID=19856&councildate=6/3/2014 10/20/2015