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			(6)(k)
CITY COMMISSION REGULAR MTG
Meeting Date: 10/16/2024   Sale of Property In Trust (PIT) to the Texas City Economic Development Corporation Submitted For: Jon Branson Submitted By: Jon Branson, Management Services Department: Management Services
Information
ACTION REQUEST
Consideration and possible action regarding the approval of an offer to purchase tax-foreclosed property described as Lots Six (6) and Seven (7), Texas City Second Division, known commonly as vacant lots located at 920 2nd Ave South, by the Texas City Economic Development Corporation for the sum of $17,187.50 and authorizing the Mayor to execute a Trustee’s Deed conveying title to said property further as further described in the attached Trustee's Deed.
BACKGROUND (Brief Summary)
The Texas City Property In Trust Committee met on Tuesday, September 24, 2024, and unanimously approved the sale of the property to the Texas City Economic Development Corporation.  The total sale cost of the property is $17,187.50.  The sale proceeds of this property will be distributed to various taxing entities as shown in the attached Resale of Property Proceeds Distribution Form.
RECOMMENDATION
Staff recommends approving an offer to purchase tax-foreclosed property described as Lots Six (6) and Seven (7), Texas City Second Division, known commonly as vacant lots located at 920 2nd Avenue South, by the Texas City Economic Development Corporation for the sum of $17,187.50 and authorize the Mayor to execute a Trustee's Deed conveying title to said property as further described in the attached Trustee's Deed.
Fiscal Impact
Attachments Trustee's Deed Distribution Worksheet Resolution

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