2019-012 - Declaring Intent to Release Judgment Against Boomer Trends for property located at 260 South Main Street

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RESOLUTION N0, 2019-012 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS DECLARING ITS INTENT TO TO RELEASE A JUDGMENT AGAINST BOOMER TRENDS MAGAZINE, INC. RELATING TO CIVIL PENALTIES ASSESSED AGAINST THE PROPERTY LOCATED AT 260 SOUTH MAIN STREET, PARIS, TEXAS; FINDING A PUBLIC PURPOSE IN SUPPORT OF SAME; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, on August 30, 2012, after notice, publication and hearing as required by law, the Building and Standards Commission of the City of Paris ordered that owner of the the structure located at 260 South Main St., otherwise known as the Belford Apartments building (the `Belford building"), be demolished within 30 days, and assessing civil penalties should the owner fail to demolish the building as authorized by the. Code of Ordinances of the City of Paris, Chapter 7, Article III, Section 7-49; and WHEREAS, the building has not been demolished, and on February 20, 2018, the City filed suit in Cause No. 87292 against Boomer Trends Magazine, Inc., the owner of the Belford building, to reduce civil penalties accrued pursuant to said order to judgment, and WHEREAS, after a trial of the above referenced cause number, the 611, District Court of Lamar County, Texas entered a final judgment dated August 8, 2018 against Boomer Trends Magazine, Inc. in the amount of $2,071,000.00 plus interest representing accrued civil penalites accrued as of that date; and WHERAS, to satisfy said judgment, the Belford building and adjoining property will be sold at a Sheriff's sale on April 2, 2019; and WHEREAS, any purchaser of the Belford building will take said property subject to the City's judgment described hereinabove; and WHEREAS, the Belford building is a dangerous structure requiring demolition, or if possible, rehabilitation; and WHEREAS, both the demolition or the rehabilitation of the Belford building will require a substantial expenditure of funds, ranging from several hundred thousand dollars to several million dollars; and WHEREAS, since the entry of the demolition order in 2012, the City has not had sufficient funds to demolish the building itself; and