HomeMy WebLinkAboutCity Council Resolutions (Resolution R-21-4615)-05/18/2021RESOLUTION R-21-4615
A RESOLUTION APPROVING COUNCIL ACTION
REGARDING EXECUTIVE SESSION ITEMS AT THE REGULAR
CITY COUNCIL MEETING OF MAY 18, 2021
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.
WHEREAS, the City Council has studied and identified the Southern
Gateway area along Colleyville Boulevard as a target area for
redevelopment; and
WHEREAS, the properties situated along Colleyville Boulevard within the
Southern Gateway are within the City's TIF #1 redevelopment
zone;and
WHEREAS, the City Council has determined that the five properties
identified in Section 1 below are all contiguous and situated
within the Southern Gateway with frontage along Colleyville
Boulevard, presenting a unique redevelopment opportunity for
that portion of the Southern Gateway; and
WHEREAS, the City Council has determined that acquiring the properties for
redevelopment is consistent with the purpose and scope of the
TIF #1; and
WHEREAS, the City has obtained current appraisals for each of the
properties and determined that the appraised values identified
below represent the fair market values for each of the
properties; and
WHEREAS, the City Council finds that acquiring the properties serves an
important public purpose and provides the citizens of Colleyville
the opportunity to promote and guide the redevelopment of this
portion of the Southern Gateway consistent with the City's
comprehensive plans for this area.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF COLLEYVILLE, TEXAS:
Sec. 1 THAT the City Council hereby authorizes the acquisition of the
following real properties:
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1. Property #1: All of that certain tract of land situated in the
J.H. Duncan Survey, Abstract No. 399, Colleyville, Tarrant
County, Texas and being a portion of lot 1, Twin Lakes Plaza, an
Addition to the City of Colleyville, Tarrant County, Texas,
consisting of approximately 3.9556 acres of vacant land; for a
purchase price of $750,000.00.
2. Property #2: All of that certain tract of land located in Lot 26,
Block 1, Felps, Andy Addition, an addition to the city of
Colleyville, Tarrant County, Texas; consisting of approximately
21,000 sq. ft. (0.4820 acres); for a purchase price of
$560,000.00.
3. Property #3: All of that certain tract of land located in Lots 27
and 28, Block 1, Felps, Andy Addition, an addition to the city of
Colleyville, Tarrant County, Texas; consisting of approximately
21,000 sq. ft. (0.4820 acres); for a purchase price of
$500,000.00.
4. Property #4: All of that certain a tract of land located in the
Andy Felps Addition, Block 1, Lot 25R, Colleyville, Tarrant
County, Texas; consisting of approximately 31,768 sq. ft.
(0.729 acres); for a purchase price of $471,000.00.
5. Property #5: All of that certain tract of land located in the
Andy Felps Addition, Block 1, Lot 29, Colleyville, Texas;
consisting of approximately 10,500 sq. ft. (0.241 acres); for a
purchase price of $273,000.00.
Sec. 2. THAT the City Council has determined that the purchase prices
identified in Section 1 above are consistent with the current
appraised value of each property and represent the fair market
value for each property.
Sec. 3. THAT the City Council has determined that the five properties
identified in Section 1 above should be acquired with current
funds from the TIF #1 in the amount of the purchase prices
stated in Section 1 above, plus reasonable and necessary
closing costs.
Sec. 4. THAT The City Council authorizes the City Manager, or his
designee, to negotiate and execute such contracts and other
documentation necessary to complete the real property
acquisitions identified in Section 1 above, including negotiation
and assumption of the current tenant lease agreements for the
buildings currently located on properties 2-5; provided the City
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shall have the option to terminate the leases upon expiration of
twelve (12) months after closing at no additional cost to the
City.
Sec.5. THAT this Resolution shall take effect immediately upon
passage.
AND IT IS SO RESOLVED.
APPROVED BY A VOTE OF 7 AYES, 0 NAYS ON THIS THE 18th DAY OF MAY
2021.
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