Texas Foreclosures and Public Notices
INVITATION TO BID The City of Mansfield is offering for sale certain property consisting of approximately 0.463 acres located north of Alvarado Street between 1st Ave. and 2nd Ave. The City wishes to sell the property for development as part of a revitalization plan for the residential and commercial development of Historic Mansfield. The City believes that this property has unique attributes that will allow it to become a catalyst for redevelopment in Historic Mansfield. The property will be offered for sale through sealed bids to be submitted to the City Secretary's office at Mansfield City Hall, 1200 E. Broad Street. The actual real estate transaction may occur as part of a development agreement between the successful bidder and the City. An aerial photograph and tract map of the property is available at the City Secretary's office. The successful bidder of the property is expected and required to make substantial improvements to the property in a timely manner. The City is seeking a development partner with verified ability to construct five to six single-family detached dwellings on the property with a total value in the aggregate of at least $900,000 in a timely manner. All bids shall be submitted with the understanding that the successful bidder will not be selected solely upon the purchase price offered for the property, but will be based on the "best value" to the City with all relevant matters being considered. Purchase price will be one among a number of factors that the City will consider in selecting a successful bidder. Factors to be considered by the City will include, but are not limited to: 1. The creation of taxable property value of long-term benefit to the City; 2. The architectural style and development character proposed by the bidder that will encourage corresponding new development on nearby properties and be compatible with existing development in Historic Mansfield; 3. The history of the bidder in residential development in a neighborhood undergoing transition, infill development and redevelopment; 4. The history of the bidder in other successful residential development; 5. The bidder must be the owner/operator of a home building company; 6. The bidder must be able to complete the real estate transaction for the sale of the property within 60 days from the approval date of the agreement between the successful bidder and the City; 7. The bidder must be able to finish the foundation for three of the single-family detached dwellings on the property within 180 days from completing the real estate transaction; 8. The purchase price offered for the property; 9. The comparable purchase price of nearby properties in recent real estate transactions or sales contracts. The City will carefully evaluate all bids in light of the factors set forth above. Selection will be based on the best value to the community offered by the complete bid proposal and no one element of the bid proposal will control the final decision. The City Council will designate its choice as the successful bidder and direct staff to undertake negotiations with that bidder for up to 30 days to reach a final agreement. If the City cannot reach a final agreement with the successful bidder during the 30 day period, the matter will be returned to the City Council who will designate a second "successful bidder" and negotiations will begin with that bidder. If agreement cannot be reached with either of the first two bidders, the City reserves the right to rebid the property. All bidders must represent that their bids will remain effective for a sufficient period of time to extend through the 30 day negotiating period with the first bidder and into the negotiating period for any second successful bidder. If a bidder desires to request any form of community financial assistance or public facility credits, such request must be included in the bid submittal. Bid must be received in said City Secretary's office by 10:00 am on 12/11/2014. Potential bidders may contact the Director of Planning at 817- 276-4228 with any questions. The City reserves the right to reject any or all bids and rebid at its sole discretion.
Location: star-telegram.com | Publication date: 11/26/14
Search Notices and Foreclosures by Keyword
Please note that searches are case sensitive. To search for a phrase, place the words inside double quotes. e.g. "Lance Armstrong." To search for entries without certain words or phrases, place a negative sign ("-") before it. e.g. "Lance Armstrong" -charity.
Rio Grande Valley