(7)(f)
CITY COMMISSION REGULAR MTG
- Meeting Date:
- 03/20/2024
- Title:
- Adopt Waiver Valuation Policy for Involuntary Acquisitions
- Submitted For:
- Dedrick Johnson
- Submitted By:
- Titilayo Smith, Community Development/ Grant Admin
- Department:
- Mayor's Office
Information
ACTION REQUEST
Consider and adopt waiver valuation policy for involuntary property acquisitions.
BACKGROUND (Brief Summary)
When the City determines that an appraisal is unnecessary because the valuation problem is uncomplicated and the anticipated value of the proposed acquisition is estimated at $10,000 or less, based on a review of available data, the City can prepare a Waiver Valuation. The City will utilize current tax year valuations as determined by the Galveston Central Appraisal District to prepare Waiver Valuations. The City will utilize said Waiver Valuations to make initial offers to property owners for involuntary acquisitions on grant projects where the estimated value of the acquisition is $10,000 or less. If the property owner rejects or counter-offers the initial offer, the City can enter negotiations to obtain the necessary property acquisition. The City will follow all HUD guidelines for involuntary acquisitions when using waiver valuations
RECOMMENDATION
It is the recommendation of the Mayor and the Director of Community Development & Grants Administration that said policy be adopted by the Commission.