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MEMORANDUM
To: Mayor, City Council, and City Manager ~~
From: Valecia R. Tizeno, Acting City Attorney
Date: January 21, 2010
Subject:. P. R. No. 15700; Council Meeting January 26, 2010
Attached is P. R. No. 15700 authorizing the City
Manager to execute an Agreement with Lou Richard for
limited appraisals as it relates to property to be acquired
through the NSP Program of the City of Port Arthur.
VRT:ts
Attachment
s.pr15"/00_memo
P. R. No. 15700
O1/1S/10 is
RESOLUTION NO.
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
EXECUTff AN AGREEMENT WITH LOU RICHARD FOR.
LIMITED APPRAISALS AS IT RELATES TO PROPERTY
TO BE ACQUIRED THROUGH THE NSP PROGRAM OF THE
CITY OF PORT ARTHUR
WHEREAS, the City deems it in the best interests of the'
citizens of Port Arthur to acquire vacant and/or foreclosed.
property through the' NSP Program for future neighborhood
revitalization; and
WHEREAS, the program requires that a limited appraisal which
estimates the value of the property be conducted by an experienced
and knowledgeable person who is familiar with the market in which
the property is located.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL. OF THE CITY
OF PORT ARTHUR:
Section 1. That the facts and opinions in the preamble
are true: and correct.
Section 2. That the City ,Manager is herein authorized to
execute a Letter Agreement with Lou Richard, in substantially the
same form as attached hereto as Exhibit "A", for limited appraisals
of properties to be acquired through the NSP Program as to
determine the value of .the properties.
Section 3. That a copy of the caption of this Resolution
be spread upon the Minutes of the City Council.
s.prls~oo
READ, ADOPTED AND APPROVED on this day of
A.D., 2010, at a Meeting of the City Council of
the City of Port Arthur, by the following vote: AYES:
Mayor
Councilmembers
NOES:
MAYOR
ATTEST:
CITY SECRETARY
APPROVED AS TO FORM:
~/~
'CTING CITY AT NEY
APPROVED FOR ADMINISTRATION:
CITY MANAGER
APPROVED AS TO THE AVAILABILITY OF FUNDS:
~ ~~~~
1~~IRECTOR OF FIVNANjC/E S JJ
ACCOUNT N0. ~ ~. / ' 1 "~ ~S - ~~Y -J7 ~- ~~~
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s.pr15'100
EXHIBIT "A"
9~~2 1157
Jan 21 1D 05:45p Lou Richard
January 21, 2010
City of Port Arthur
P. O. Box 1089
Port Arthur, Tx 77641
c!o P A City Attorney
Valecia Tezeno
Dear Val,
982-1197
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art Any.:,
1 would like to extend my deepest appreciation to you for choosing me as your realtor to
help assist. with the Neighborhood Stabilization Program.
Per our first meeting which was held on October 14a', 2009, I was informed of the City's
intention on seizing numerous properties for judgments and abandonment. I was asked at
that time, what fee would I charge for evaluating each piece of property in order to
determine a fair markehvalue.
A second meeting was held January 21 and at that time my company have a~~reed to
accept the City's offer of charging a fee of $65.00, all cost included, per marker analysis
for each property being evaluated.
A Cb4A, (comparable market analysis) will be performed on each property using
comparables (other properties that have sold in the area within a specific period of time)
in order to determine market value. A BPO (brokerprice opinion) will be rendered.
I am excited and look forward to starting this project. If there is any additional
information that is needed, please let me know.
This letter will serve as an agreement between the City of Port Arthur and' Lou Richard's
Realty.
Yours iy,
.ou Richar carer/broker
Lou Richard's Realty