Urban Renewal Property
Policy for Non-Profit Organizations Purchasing Urban Renewal Property
The following guidelines shall apply to non-profit organizations' proposals to purchase and to develop Urban Renewal property:
- The offer must be at least 10% of the minimum set price. For a 10% offering, only a warranty deed and tax certificate will be issued. No title policy will be provided.
- A title policy, warranty deed and tax certificate will be provided when the offer is the full minimum set price.
- The proposed development must conform to the Urban Renewal Land Use Plan and the City of Lubbock Zoning Restrictions. Each non-profit will be required to enter into contract, submit a timeline, and a plot plan. A maximum of 18 months will be given for conveyance. An extension of 18 months may be given by the Board with an additional 10% Good Faith Deposit.
- The Urban Renewal Board of Commissioners reserves the right to reject any or all proposals.
- The conditions and price of the proposed sale and development must be approved by the City Council.
- The non-profit organization must provide evidence prior to conveyance of sufficient financing and resources to commence and complete the project.
This page is for viewing purposes only. To obtain a legal copy, contact Sharon Pattillo at 806-775-3281.