DEPARTMENT: Office of EastPoint & Real Estate Services
DEPARTMENT HEAD: Mike Etienne, Ph.D., Director
COUNCIL DISTRICTS IMPACTED: 9
SUBJECT: Disposition: Sale of Surplus City-Owned Property
SUMMARY:
Consideration of an ordinance authorizing the declaration as surplus and disposition of a 0.2000 acre unimproved property located at 10818 Lima Drive, NCB 11732 in Council District 9 and authorizing its sale to LDK Realty Investments, LLC for $8,280.00.
BACKGROUND INFORMATION:
Under Municipal Code, all City property must be declared as surplus prior to the disposition of the property. The request to declare property as surplus must be submitted to the Office of EastPoint & Real Estate Services, then the request and exhibits are sent to departments and municipal utilities that provide services to, or construct infrastructure on the properties. The departments and municipal utilities respond if there is a need for the property or if the property can be disposed of. If the property is determined to be surplus, then surveys and appraisals are completed, and the property is presented to City Council for final authorization to declare the property as surplus and dispose of the property in accordance with Chapter 272 of the Local Government Code.
LDK Realty Investments LLC is requesting the city declare as surplus and authorize the sale of a 0.2000 acre unimproved property located at 10818 Lima Drive. LDK intends to develop the site for residential use.
The property has been approved through the canvassing process to be declared as surplus. If City Council approves the declaration of the property as surplus, the property will be sold in accordance with local laws.
ISSUE:
This ordinance authorizes the declaration as surplus and disposition of a city-owned 0.2000 acre unimproved property located at 10818 Lima Drive in NCB 11732 and authorizes its sale to LDK Realty Investments LLC for $8,280.00.
ALTERNATIVES:
City Council could choose not to approve this item; however, disapproval of this request may prohibit utilization of the property, growth and development of the area, and the City's property liability and maintenance responsibilities will not be alleviated. The sale of the property will allow development of the property and place the property on the tax roll.
FISCAL IMPACT:
In compliance with Chapter 37 of the Municipal Code, Chapter 37-2 (2), fair market value was based on the Bexar Appraisal District-assessed values in the vicinity.
The Bexar Appraisal District value of the property is $8,280.00. The City of San Antonio and purchaser have agreed on a sales price of $8,280.00. The property will be placed on the tax rolls and generate revenue for the taxing entity. The revenues from this sale will be deposited within the General Fund.
RECOMMENDATION:
The City of San Antonio's Planning Commission approved this request at its regular meeting on February 26, 2014. The City of San Antonio Public Library Facilities Committee approved this request at its regular meeting on March 12, 2014 and the Library Board of Trustees approved this request at its regular meeting on March 26, 2014.
Staff recommends the approval of an ordinance authorizing the disposition of a City-owned, unimproved 0.2000 acre parcel located at 10818 Lima Drive, in Council District 9, and authorizing its sale to LDK Realty Investments LLC.