HomeMy WebLinkAboutCity Council Resolutions (R-25-5045)-06/03/2025RESOLUTION R-25-5045
A RESOLUTION APPROVING COUNCIL ACTION
REGARDING EXECUTIVE SESSION ITEMS AT THE REGULAR
CITY COUNCIL MEETING OF JUNE 3, 2025
WHEREAS, the City of Colleyville owns approximately 41 +/- acres of
undeveloped real property located near the City's northern
border at the intersection of SH26 and John McCain Road (the
"Northern Gateway"); and
WHEREAS, the City Council studied and identified the Northern Gateway as
a target area for redevelopment; and
WHEREAS, the City Manager has received a Letter of Intent ("LOI") from
NuCiti Capital Partners, LLC (the "Developer"), to purchase and
develop an existing 22 +/- acres parcel within the Northern
Gateway, located west of Colleyville Boulevard ("Subject
Property"); and
WHEREAS, the City Council desires to authorize the City Manager to
execute the Letter of Intent (LOI) and proceed to negotiate
definitive agreements, including a purchase and sale
agreement, which sets forth the terms and conditions for the
development of the Subject Property.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF COLLEYVILLE, TEXAS:
Sec. 1. THAT the City Council hereby authorizes the City Manager, or
his designee, to negotiate and execute an LOI with NuCiti
Capital Partners, LLC, and to proceed to negotiate definitive
agreements, including a purchase and sale agreement, which
sets forth the terms and conditions for the development of the
Subject Property in conformance with the LOI.
Sec.2. THAT this Resolution shall take effect immediately upon
passage.
AND IT IS SO RESOLVED.
Resolution R-25-5045
Page 2 of 2
APPROVED BY A VOTE OF 6 AYES, 0 NAYS, ON THIS THE 3RD DAY OF JUNE
2025.
Mayor Bobby Lindamood Aye Mark Alphonso, Place 2 Abst.
Mayor Pro Tern Brandi Elder Aye Ben Graves, Place 4 Aye
Deputy Mayor Pro Tern Scotty Richardson Aye Tim Raine, Place 6 Aye
Kimberly Holt Gunderson, Place 5 Aye
ATTEST:
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Christine Loven
City Secretary, TRMC
\(- OF CO EYVILLE
Bobby Lindamood
Mayor