STRATEGIC PRIORITY: Workforce, Education & Equity
AGENDA DATE: August 28, 2024
COUNCIL DISTRICT(S): 2
DEPARTMENT: Department of Facilities and Real Estate Management
EXECUTIVE: Dev Rastogi
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SUBJECT
Title
A resolution (1) declaring approximately 17,647 square feet of improved land unwanted and unneeded, located at the intersection of Marilla and South St. Paul Streets, and authorizing its advertisement for sale by public auction; (2) establishing a reserve for the auctioned surplus property; (3) authorizing a Purchase and Sale Agreement to be prepared for the auctioned surplus property receiving highest qualified bid that meets or exceeds the reserve; and (4) authorizing the conveyance of a deed in a form acceptable to City Attorney - Estimated Revenue: General Capital Reserve Fund ($2,395,360.00) and General Fund ($7,500.00) (Current Dallas Central Appraisal District value)
Body
BACKGROUND
This item declares approximately 17,647 square feet of improved land unwanted and unneeded located at the intersection of Marilla and S St. Paul Streets and authorizes its advertisement for sale by public auction. This property has been routed to City departments and outside agencies to determine whether any had a need for the properties.
Texas Local Government Code Section 253.008 authorized municipalities to sell real property owned by the municipality at an advertised public auction. Section 272.001 states fair market value may be determined by the highest bid price obtained by a municipality at an advertised auction.
This property will be advertised for sale by public auction with a reservation of all oil, gas and other minerals in and under the property and a restriction prohibiting the placement of industrialized housing.
A reserve amount will be established on the auctioned surplus property. Reserve amounts are not public but are the minimum price the City will accept for the property, and the minimum bid for which the auction firm will declare a property sold.
This property will return to the tax rolls upon conveyance.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
This item has no prior action.
FISCAL INFORMATION
Estimated Revenue: General Capital Reserve Fund ($2,395,360.00) and General Fund ($7,500.00) (Current Dallas Central Appraisal District value)
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