Title
Consider and take action on a resolution authorizing the sale of 1) approximately 0.7583 acres located at the Northwest corner of Bradshaw Nursery Road and League City Parkway to Crystal Arnold for $59,400 and 2) approximately 0.115 acres located at the Southeast corner of Bluebonnet Street and Lakeside Drive to A C Kantara for $23,100 (Director of Planning and Development)
Background:
In July 2016, the City Council declared a total of three (3) City-owned properties as surplus, set the minimum bid price for each at 60% of appraised value, and directed City staff to solicit bids via auction. On January 19, 2017, the City received at least the minimum bid for two of these three properties and staff is requesting these two high-bids be accepted causing the appropriate closing documents between the high bidders and the City to be drafted and executed.
Property Appraisal Minimum Bid High Bid on 1/19/2016
NWC of Bradshaw Nursery Rd/SH 96 $99,000 $59,400 $59,400
SEC of Blubonnet/Lakeside $35,000 $21,000 $23,100
Staff recommends City Council accept the high bids and direct the City Manager to execute all documents related to the conveyance of the following two (2) surplus properties owned by the City:
1. NWC of Bradshaw Nursery Road/SH 96 - high bid of $59,400 by Crystal Arnold of Hurst, Texas; (Tax ID: 5459-0004-0037-000; 5459-0004-0036-000; 5459-0004-0035-000); and
2. SEC of Bluebonnet/Lakeside Drive - high bid of $23,100 by AC Kantara of League City, Texas (Tax ID: 4510-0007-0001-000)
Proceeds from this transaction will be placed into the Capital Projects Fund 075.
Attachments:
1. Data Sheet
2. Proposed Resolution
3. High Bid Confirmations from Renee’ Bates Auctioneers
4. Minutes from July 26, 2016 City Council Meeting (Item 11D.)
FUNDING
{ x } NOT APPLICABLE