HomeMy WebLinkAboutCity Council Resolutions (RESOLUTION R-15-3877)-06/02/2015 RESOLUTION R-15-3877
A RESOLUTION APPROVING THE ACQUISITION OF REAL PROPERTY
LOCATED AT 7100 COLLEYVILLE BOULEVARD
WHEREAS, the City hereby declares a public purpose in acquiring additional
real estate for public purposes, including but not limited to parks
and trail uses; and
WHEREAS, the City has examined and explored the value of the property at
7100 Colleyville Boulevard (hereinafter the "Property"), and has
determined that the fair market value for that tract is $479,052;
and
WHEREAS, by the adoption of this Resolution, the City Council determines
that the proposed purchase price represents the fair market value
of the Property; and
WHEREAS, the City hereby determines that the passage of this Resolution is
in the best interests of the health, safety, and welfare of the
public.
WHEREAS, all legal prerequisites for the approval of this Resolution have
been met, including but not limited to the Open Meetings Act.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF COLLEYVILLE, TEXAS:
Sec. 1. THAT all matters stated above are found to be true and correct
and are incorporated herein by reference as if copied in their
entirety.
Sec. 2. THAT the City Council hereby approves the purchase of the
Property for a purchase price not to exceed $479,052, including
closing costs, and authorizes the City Manager to execute all
associated documents as approved by the City Attorney.
Sec. 3. THAT the sources of funding for the property acquisition are
$84,450 from the proceeds from the acquisition of property by
TxDOT for the State Highway 26 project (CS] No. 0363-01-123
Acct No. Parcels No. 149 and No. 149E), Park Land Dedication
Funds in the amount of $150,000, as unanimously approved and
recommended by the Parks and Recreation Board at their October
1, 2014, meeting, and unanimously approved and recommended
Resolution R-15-3877
Page 2 of 2
by the Park Land Dedication Committee at their October 1, 2014,
meeting to be used for property acquisition for the construction of
the Cotton Belt Phase III project, and $244,602 and all closing
costs from the Tax Increment Financing District 1 project plan
category of Trails and Public Amenities as amended on November
20, 2012, which can be reimbursed, in the future back, to the Tax
Increment Financing District Fund by approved funding to be
allocated from the Park Land Dedication Fund or the Parks
Tomorrow Fund.
AND IT IS SO RESOLVED.
APPROVED BY A VOTE OF 4- AYES, 0 NAYS, AND 0 ABSTENTIONS ON
THIS THE 2nd DAY OF JUNE 2015.
ATTEST: CITY OF COLLEYVILLE
ilta. - 1
riz.yelley,A � M David Kelly
v,
_ City Secretary Mayor