HomeMy WebLinkAboutCity Council Resolutions (Resolution R-19-4443)-12/03/2019RESOLUTION R-19-4443
A RESOLUTION APPROVING COUNCIL ACTION
REGARDING EXECUTIVE SESSION ITEMS AT THE REGULAR
CITY COUNCIL MEETING OF DECEMBER 3, 2019
WHEREAS, following discussion in Executive Session, and in full accordance
with the requirements of the Open Meetings Act, the City
Council determines that the following action is in the best
interests of the health, safety and welfare of the public; and
WHEREAS, the City Council had determined that there are few remaining
undeveloped parcels of real property along the State Highway
26 Corridor ("SH26 Corridor") within the City; and
WHEREAS, the City of Colleyville, in partnership with other local taxing
authorities, previously established a Tax Increment Financing
Reinvestment Zone ("TIF") which presently contains dedicated
funding for the enhancement and development of the SH26
Corridor; and
WHEREAS, the City Council has declared that there is a special need and
public purpose for acquiring undeveloped real property along
the SH26 Corridor for fair market value to ensure the remaining
open spaces within this area are responsibly developed in a
manner that will provide the highest value to the Colleyville
community.
WHEREAS, the City Council finds that it is in the best interests of the public
to acquire the real property described as being approximately
15.1 acres of raw land (TAD Parcel ID #040474127) located
near the SW corner Colleyville Boulevard and John McCain Road
in the City of Colleyville, Texas (herein the "Property"), and has
determined that the fair market value for the Property is
$4,300,000.00.
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 $4,300,000.00,
plus all costs associated with closing, including title, inspection,
and other professional fees reasonably necessary for closing.
Resolution R-19-4443
Page 2 of 2
Sec. 3. THAT the source of funding for the acquisition of the foregoing
Property will be from the TIF; and the city manager, or his
designee, is hereby authorized to negotiate and execute all
contracts and other documents associated with the acquisition
of the Property, subject to review by the city attorney.
AND IT IS SO RESOLVED.
APPROVED BY A VOTE OF 7 AYES, 0 NAYS ON THIS THE 3RD DAY OF
DECEMBER2019.
Mayor Richard Newton
Aye Mayor Pro Tern Bobby Lindamood Aye
Place 1, Tammy Nakamura
Aye Place 3, Kathy Wheat Aye
Place 4, George Dodson
Aye Place 5, Chuck Kelley Aye
Place 6, Callie Rigney
Aye
ATTEST:
Christine Loven, TRMC
City Secretary
CITY OF COLLEYVILLE
Richard Newton
Mayor