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File #: Res. 2020-187R    Version: 1 Name:
Type: Resolution Status: Individual Consideration
File created: 8/24/2020 In control: City Council
On agenda: 9/1/2020 Final action:
Title: Consider approval of Resolution 2020-187R, approving the First Amendment to Purchase and Sale Agreement with Pursuant Ventures Development, LLC relating to the development of a new multi-use Sportsplex Facility in the vicinity of Centrepoint Road and IH-35 South to revise the description of the master site, provide for completion of certain public improvements with escrowed funds in the event the seller fails to timely complete such public improvements, extending the date for submission of the site preparation permit for the project and acknowledging that the Sportsplex Land will be dedicated as parkland after the Sportsplex Facility is leased and operational: authorizing the City Manager, or his designee, to execute first amendment; and declaring an effective date.
Attachments: 1. Resolution, 2. 1st Amendment to PSA - Final, 3. Pursuant Ventures City of San Marcos Agreement
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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AGENDA CAPTION:
Title
Consider approval of Resolution 2020-187R, approving the First Amendment to Purchase and Sale Agreement with Pursuant Ventures Development, LLC relating to the development of a new multi-use Sportsplex Facility in the vicinity of Centrepoint Road and IH-35 South to revise the description of the master site, provide for completion of certain public improvements with escrowed funds in the event the seller fails to timely complete such public improvements, extending the date for submission of the site preparation permit for the project and acknowledging that the Sportsplex Land will be dedicated as parkland after the Sportsplex Facility is leased and operational: authorizing the City Manager, or his designee, to execute first amendment; and declaring an effective date.
Body
Meeting date: September 1, 2020

Department: Parks & Recreation

Amount & Source of Funding
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A

Fiscal Note:
Prior Council Action: On 11.06.19 City Council approved the Purchase and Sale Agreement with Pursuant Ventures, LLC

City Council Strategic Initiative: [Please select from the dropdown menu below]
N/A
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
? Economic Development - Choose an item.
? Environment & Resource Protection - Choose an item.
? Land Use - Choose an item.
? Neighborhoods & Housing - Choose an item.
? Parks, Public Spaces & Facilities - Choose an item.
? Transportation - Choose an item.
? Core Services
? Not Applicable

Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
Parks, Recreation, & Open Space Master Plan


Background Information:
The City of San Marcos entered into a partnership with San Marcos Baseball Investments, LLC
(SMBI) and Pursuant Ventures Development, LLC (PVD) for the purpose of designing, constructing and ...

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