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Regular Council Meeting December 11, 2017 Page 9 have to go through post-judginent remedy process, get an abstract of judgment and get a writ of execution on the judgment. She also said subsequently there would be a sherif'f's sale and then the City could bid on it at that time, Ms. Harris told the Council if the City takes ownership of it, there will be at least a period of time between when the City gets title and it is sold to someone else by the RFP process, and there were associated liabilities but those were executive session type details. Ms. Harris said if the building doesn't sell, then the City has the building and there are barriers to sell, one of which is the condition of the building, tax credits that would be important to this project were on the chopping block under the federal tax overhaul plans, including the new market tax credits and historic tax credits. Ms. Harris told Council if those go away, it would be: difficult to finance the project according to her understanding as how Mr. Alarid wants to finance the project. Ms. Harris said if it sells and doesn't get restored, and it comes back to the City, then at the end of five years the City owns the building. Ms. Harris advised she was not telling them yes or no, but that she would be: remise if she did not make them aware of all of this. Mayor Clifford inquired what would happen in the next seven years if the City did not do this. Ms. Harris said either the City would have to demolish it, or it would collapse. She advised that the City had the right to demolish it. Ms. Harris reported Mr. Kammer was under orders to demolish it but had not demonstrated the willingness, or the ability to do so. Mayor Clifford want to know how much demolition would cost and Ms. Harris infori-ned him the estimates were approximately $300,000 to $400,000. Mayor Clifford said if they do nothing, tben, at some point the City would have to demolish it to the cost of $300,000 or $400,000, or the City can own it along with its problem but at least have a chance to sell it. Ms. Harris emphasized if the City owns it then the City has liabilities that the City would not have, Mayor Clifford said if the City decided to, demolish it, the City assumed those liabilities at that point. Mayor Clifford inquired who would own the property if the City demolished it and Ms. Harris said Boomer Trends owned by Kenny Kammer would own the property. Mayor Clifford wanted to know what would happen to the $2 million dollars owed. Ms. Harris said it would still be a liability on the property. Council Member Knox said while Mr. Alarid presented an Opportunity, the entire Historic Preservation Commission felt it was necessary to do something with the building, because the owner was not or could not do something with it. She said it was an eye sore, becoming increasingly dangerous and nothing was being done, except properties around it were losing tax value. Council Member Knox said this property was sitting there rotting and it was a significant piece of property. She also said there were opportunities that existed today to do something with it, to save a piece of Paris' history, Council Member Knox stated either Paris was going to be a historic town or not and this time, the State of Texas has designated Paris as one of the most historic cities in the State of Texas. She also said she was in favor of the foreclosure and pursuing a viable option. Mayor Clifford agreed with Council Member Knox. Ms, Harris said she did not know if HPC had discussed this, but there was a provision under Chapter 214 of the Local Government Code that would allow them to file a lawsuit that would result in the appointment of a receiver. Ms. Harris said the receiver would pretty much have all of the rights of the owner but could not sell the property. She also said the receiver could do the repairs, bring it up to historical standards and had the right to reimbursement, plus a receivership fee of 10% of the costs and expenses the receiver puts into the building. Ms,. Harris said any