STRATEGIC PRIORITY: Transportation & Infrastructure
AGENDA DATE: June 28, 2023
COUNCIL DISTRICT(S): 5, 7
DEPARTMENT: Department of Public Works
EXECUTIVE: Dr. Robert Perez
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SUBJECT
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A resolution (1) declaring three properties unwanted and unneeded, and authorizing their advertisement for sale by public auction (list attached to the Agenda Information Sheet); (2) establishing a reserve for the auctioned surplus properties; (3) authorizing a Purchase and Sale Agreement to be prepared for the auctioned surplus properties receiving highest qualified bid that meet or exceeds the reserve; and (4) authorizing the conveyance of a deed in a form acceptable to the City Attorney - Estimated Revenue: General Capital Reserve Fund ($74,280.00) and General Fund ($22,500.00)
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BACKGROUND
This item declares three properties unwanted and unneeded, and authorizes their advertisement for sale by public auction. These properties have 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.
These properties 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 properties. 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 form will declare a property sold.
Upon receipt of the highest qualified bid sold absolute, a Purchase and Sale Agreement, approved as to form by the City Attorn...
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