6.5 Sell Tax Sale Property CITY OF SALINA
REQUEST FOR COMMISSION ACTION DATE TIME
11/21 ;/~ 4:00 P.M.
AGENDA SECTION: I ORIGINATING DEPARTMENT: APPROVED FOR
NO. AGENDA:
6 Finance
ITEM:
NO. Robert K. Biles ~~
5 BY: ~ BY:
Consideration of sale terms for property purchased at the October 27, 1994 tax
sale.
Background
At the October 27, 1994 tax sale, the City purchased Lot 8, Block 3, May'fair
Addition to the City of Salina. This lot was purchased to try to reclaim some
of the taxpayers' investment in the property. Unpaid special assessments,
purchasing costs and future special assessments brings the taxpayers' total
investment in the property to $14,400.
In looking at the property, we believe it may be difficult to sell the lot at
the $14,400 level due to at least two problems with the lot. The lot has a
shape which will not support a typical ranch home easily. Further, the lot has
a large area which will require fill. With these in mind, we believe a
reasonable price for the property free and clear of future special assessments
would be $11,500. We are also recommending using the same terms of sale as
we have on previous properties. They are:
1. Ten percent down.
2. Balance due at closing with closing to occur within 30 days.
3. Title insurance, ff requested, will be provided with the buyer
paying one half the cost.
4. Real estate taxes will be prorated as of the date of closing.
5. A fifty dollar administration fee will be the buyer's
responsibility.
Recommended Action
Authorize city staff to sell Lot 8, Block 3, May'fair Addition for the price of
$11,500 at the stated terms of sale.
COMMISSION ACTION
MOTION BY SECOND BY
THAT:
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1:2
~ ! 7 to 4
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