Title
Offer to Purchase Tax Recovery Property
Proposed Motion
That Council authorize administration to accept the Offer to Purchase for tax recovery property described as Lots 15-16, Block 7, Plan 6543X (Roll 4270111) in the amount of $35,000.00.
Body
Administration Recommendation
Administration supports the proposed motion.
Purpose
Administration is presenting the Offer to Purchase for Council approval pursuant to Policy AD 003 - Sale of Properties.
Summary
The subject property was acquired by Parkland County for the purpose of recovering taxes. The subject property did not sell at the 2012 auction, after which, the County took title and possession of the unoccupied property, obtained an appraisal, and put it on the market for $40,000. One previous offer was presented to administration for a lower price which was counter-offered by administration and thereafter not responded to by the potential buyer. The Offer to Purchase for $35,000 is considered to be a reasonable offer. The buyer is aware of the Unsightly Property Order that was issued October 2012, and understands that, if the Offer is approved, the buyer will be fully responsible for the clean-up of the property. The Offer to Purchase is "as is," with a term of sale being that the buyer shall, by July 1, 2013, remove all appliances, assorted material, garbage and debris, from the subject property. The realtor advised that the buyer plans to clean up the property as soon as possible.
Strategic Plan/Policy/Legal/Staff Implications
The Municipal Government Act (MGA) provides the requirements and options for municipalities with regards to tax recovery properties. The presented offer to purchase this tax recovery property complies with the requirements of the MGA s.425(1)(a), by selling the property at a price that is as close as reasonably possible to the market value of the parcel.
Financial Impact:
Tax Sale Admin Fee Revenue (5% as per MGA s.427(2)(d) - $1,750)
Tax Receivable - $14,775
Re...
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