AGENDA CAPTION:
Title
Consider approval of Resolution 2020-223R, approving a Real Estate Sales Contract with Patricia R. Murphy and Mary O. Black for the city to purchase lot 1, block 12 of the original town of San Marcos, located at 152 South Guadalupe street, for a price of $824,000, plus any associated closing costs; approving the execution of said contract by the City Manager, or his designee, on behalf of the city; authorizing the city manager, or his designee, to execute any related closing documents on behalf of the city; and declaring an effective date.
Body
Meeting date: October 20, 2020
Department: CIP/Engineering
Amount & Source of Funding
Funds Required: $824,000
Account Number: Click or tap here to enter text.
Funds Available: Click or tap here to enter text.
Account Name: TIRZ #5, C614 - Downtown Property Acquisition
Fiscal Note:
Prior Council Action: Ordinance 2020-046
City Council Strategic Initiative: [Please select from the dropdown menu below]
Downtown Vitality
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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 - Direct Growth, Compatible with Surrounding Uses
? 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)]
Downtown Master Plan
Background Information:
In June, the City Council approved an amendment to the Downtown Tax Increment Reinvestment Zone #5 Project and Financing Plan. The amendment included funding for the acquisition of property for parking and other public priorities. This resolution authorizes the City Manager to close on Lot 1, Block 12 of the Original Town of San Marcos located at 152 S. Guadalupe Stree...
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