Consideration and Action regarding Resolution No. 2021-03, Approving the Sale of Property Described as Lot 25, Block 19, Rancho North Addition, also known as 232 Hialeah Park, Saginaw, Texas

City Council previously approved the sale of this property by Resolution 2020-18.  The buyer at the time has since backed out of the sale.  However a new buyer has been located requiring a new  resolution.  The facts of the property remain the same. 

The property at 232 Hialeah was the subject of a judgement in favor of all of the taxing entities and the federal government on September 27, 2007. A tax sale was requested and the property was “struck off” to the City of Saginaw. Since that time the City has had to demolish the structure on the property and maintain it by mowing while trying to find a buyer for the property. We have had few inquiries on the property due to the amounts owed being more than the lot is worth and the inability to get a title policy. The new buyer has offered the $15,500 amount previously agreed upon to purchase the lot and build a house on it. Our tax attorney has worked with the other taxing entities to prepare a tax resale deed which does not provide any warranty of title and offers no warrants, express, or implied regarding the property. All liens from the judgement for the taxing entities would be waived by virtue of the conveyance. Proceeds from the sale would be divided between the taxing entities on a pro-rata basis of the amounts owed. The City’s share would be approximately $3,300. The County and the EM-S ISD have agreed to this process and are awaiting a resolution from the City. This will allow us to get the property back on the tax rolls, provide a new residence in the neighborhood, and stop the maintenance and administrative costs associated with this property that the City currently bears.