Res 082-2002 8/6/2002RESOLUTION NO. 99,-DI�M,
RESOLUTION AUTHORIZING THE SALE AND TRANSFER OF
OWNERSHIP OF THE HOLT HOTEL, 600 8th STREET, ALSO KNOWN
AS LOTS 6 AND 7, BLOCK 163, ORIGINAL TOWNSITE OF THE CITY
OF WICHITA FALLS, WICHITA COUNTY, TEXAS, TO THE HOLT
RESTORATION CORPORATION, A NON - PROFIT CORPORATION,
FOR $5,000.00 WHICH WAS DETERMINED TO BE THE FAIR MARKET
VALUE; FINDING AND DETERMINING THAT THE MEETING AT WHICH
THIS RESOLUTION WAS PASSED WAS OPEN TO THE PUBLIC AS
REQUIRED BY LAW.
WHEREAS, the Wichita Falls Independent School District has acquired the
following described land by a deed in lieu of foreclosure of a tax lien as authorized by
Section 31.061 of the Texas Property Tax Code and holds the same as trustee for the
City of Wichita Falls and Wichita County; and
WHEREAS, the Board of Trustees of the Wichita Falls Independent School
District met on July 22, 2002, and adopted a resolution authorizing the transfer of such
property to the City of Wichita Falls for the purposes of selling the land; and
WHEREAS, the Wichita County Commissioners Court will be meeting on July 29,
2002 to approve and authorize the transfer of such property to the City of Wichita Falls
for the purposes of selling the land; and
WHEREAS, the City of Wichita Falls has through the remaining taxing entities
taken the necessary legal steps to relieve the property of all tax liens and agreed to the
environmental remediation which includes the removal and /or abatement of any existing
hazardous material, and
WHEREAS, the project proposed by the Holt Restoration Corporation is
described as being the restoration and renovation of the existing shell of the Holt Hotel
into residential quarters of some forty -one units for the upper floors and for commercial
use as to the ground floor; and
WHEREAS, staff feels this project will provide a vast improvement of the
downtown area, encourage additional investment in the reinvestment zone, place the
property back on the tax roll at a substantial increase and the City of Wichita Falls
would no longer be burdened with the upkeep and securing of said property.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. The property located at 600 8th Street, also known as Lots 6 & 7,
Block 163 Original Townsite, Wichita Falls, Wichita County, Texas has been identified
as excess property not required for the current needs of the City of Wichita Falls,
Wichita County, or the Wichita Falls Independent School District.
SECTION 2. In consideration of the receipt of Five Thousand Dollars, this
resolution shall authorize the City Manager to execute the attached Deed Without
Warranty for the City's interest in the property.
SECTION 3. It is hereby officially found and determined that the meeting at
which this resolution was passed was open to the public as required by law.
PASSED AND APPROVED this the 6th day of August 2002.
ATTEST:
City Clerk
S
U
DEED WITHOUT WARRANTY
STATE OF TEXAS §
KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF WICHITA §
Grantor: City of Wichita Falls
Grantee: Holt Restoration Corporation, a Texas Non - Profit
Corporation
Grantee's Address: 3209 Martin, Wichita Falls, Texas 76308
Property: Lots 6 and 7, Block 163, Original Townsite of the City of
Wichita Falls, Wichita County, Texas, as more particularly
described in a deed recorded in Volume 1962 at Page 808
of the Official Public Records of Wichita County, Texas.
WHEREAS, Grantor received a deed to the above property in lieu of payment of
taxes as authorized by Section 31.061 of the TEXAS PROPERTY TAX CODE.
THEREFORE, IN CONSIDERATION OF THE PREMISES, the covenants set
forth below and the sum of ten and more dollars paid by the Grantee, the receipt and
sufficiency of which is hereby acknowledged, the City of Wichita Falls has GRANTED,
SOLD AND CONVEYED, and by these presents does GRANT, SELL AND CONVEY,
to Grantee the above - described real property, subject to the following terms,
reservations, restrictions and conditions:
(1) This conveyance is subject to all valid restrictions, covenants, conditions,
rights -of -way, easement and other reservations, if any, affecting the
above - described property, including those reservations included in the
Deed Without Warranty for the property to the City of Wichita Falls from
the Wichita Falls Independent School District.
(2) This conveyance is made, and Grantee accepts the same WITHOUT
WARRANTY OF TITLE, either express or implied.
(3) Grantee accepts the property herein conveyed, "AS IS" AND WITH ALL
FAULTS.
In the event the Grantee shall determine it is unable to redevelop the Holt
property in a manner sufficient to promote economic development in the reinvestment
zone the Grantee may reconvey the property to the City of Wichita Falls.
EXECUTED this day of , 2002.
ATTEST:
City Clerk
STATE OF TEXAS §
COUNTY OF WICHITA §
City of Wichita Falls, Texas
Jim Berzina, City Manager
This instrument was executed before me on this 6th day of August, 2002, by
Jim Berzina, City Manager of the City of Wichita Falls, Texas, on behalf of said city.
Notary Public, State of Texas
AFTER RECORDING RETURN TO:
HOLT RESTORATION CORPORATION
3209 MARTIN
WICHITA FALLS, TEXAS 76308
.1/0/_2431 :255
EXECUTED this ale day of , 2002.
City o Wichi •. '- Texas
By: .ii# (
;: �,► �'•'Berzina, City pager
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STATE'OF TEXAS § I
COUNTY OF WICHITA §
This instrument was executed before me on this dt5 day of August, 2002, by
Jim Berzina, City Manager of the City of Wichita Falls, Texas, on behalf of said city.
LYDIA V.TORRES •
* i • NOTARY PUBLIC
•
STATE OF TEXAS
'' '`'' ►�r Comm.E.V.03-14.2006 Nota Public, State of Texas
AFTER RECORDING RETURN TO:
HOLT RESTORATION CORPORATION
3209 MARTIN
WICHITA FALLS, TExAs 76308
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Hal for Record A.D. 20 04 at a'. o'dock M
ClnnNX�v� '� A.D. 20()3
U 0 LLOYD M LtC,Clerk,County Court
Wichita County,Texas