§ 12-46. Sales procedure.

(a)

The city may sell land acquired by the municipality following the foreclosure of a tax lien in favor of the municipality or seizure of the land under V.T.C.A., Tax Code ch. 33, subch. E; subject to the following conditions:

(1)

Sales shall only be to an organization qualified under V.T.C.A., Tax Code § 34.015;

(2)

The purchasing organization shall construct a dwelling or dwellings on the acquired land in conformity with the then existing community housing infill program guidelines;

(3)

All sales shall be conditioned on the organization's resale of the constructed dwelling to moderate to low income individuals or families as determined by the program guidelines;

(4)

All sales shall be for cash and for a sum approved by the city council in an amount of not less than $250.00 per lot;

(5)

All deeds and conveyances shall be without warranty and shall contain a reverter clause providing that the land conveyed shall revert back to the city in the event that the purchaser fails to construct the approved dwelling within any deadline set forth in the program guidelines;

(6)

All dwellings constructed shall conform with all applicable zoning regulations and building codes adopted by the city;

(7)

All conveyances shall be subject to all redemption rights provided by state law; and

(8)

No conveyance shall be made unless and until a qualified organization has submitted a summary of the organization's proposed construction and sales plan to the city council and such plan is approved by majority votes of the council.

(b)

The city may enter into interlocal agreements for the resale of tax foreclosed properties in conformance with V.T.C.A., Tax Code § 34.051. Any interlocal agreement shall comply with provisions in the state tax code.

(Code 1990, ch. 1, § 32(D); Ord. No. 2001-11-20-33, 11-20-2001)