09 - Private Tax Re-Sales - Laserfiche WebLink

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Item No. 9 Memorandum TO: Mayor, Mayor Pro -Tem & City Council Grayson Path, City Manager FROM: Andrew Mack, Director of Planning and Community Development SUBJECT: PRIVATE TAX RE -SALES DATE: June 12, 2023 BACKGROUND: Tracy Pounders with the law firm of Abernathy Roeder Boyd & Hullett PC has arranged for the private sale of five (5) tax delinquent properties for the total amount of $5.00 to Cultiv8Community as a part of the 5 in 5 Housing Infill Development Program. STATUS OF ISSUE: The sale involves the following properties, all located within the Program Area: • Tract 1: "CITY OF PARIS, BLOCK 233, LOT 12", commonly known as 1221 NW 15TH, Paris, Lamar County, Texas [Lamar CAD #17745, $1.00] • Tract 2: "CITY OF PARIS, BLOCK 269, LOT 12", commonly known as 1351 NE 12th, Paris, Lamar County, Texas [Lamar CAD #18376, $1.00] • Tract 3: "CITY OF PARIS, BLOCK 33-A, LOT 9", commonly known as 133 NE 14Tx, Paris, Lamar County, Texas [Lamar CAD #13870, $1.00] • Tract 4: "CITY OF PARIS, BLOCK 32-B, LOT 9", commonly known as 116 NE 10TH, Paris, Lamar County, Texas [Lamar CAD #13832, $1.00] • Tract 5: "CITY OF PARIS, BLOCK 32-B. LOT 7", commonly known as 1025 E Houston, Paris, Lamar County, Texas [Lamar CAD #13830, $1.00] Cultiv8Communtiy intends to build single family homes on each of these lots. This sale comprises one of the incentives in the Economic Development Agreement and Tax Abatement Agreement (the 5 in 5 agreement) considered in the previous agenda item. BUDGET: The City will receive its prorated share of the proceeds of sale as required by the Texas Property Tax Code and as allowed under a interlocal agreement among the City and the other affected taxing entities.