CC MEETING: February 7, 2017
DATE: January 31, 2017
TO: Erin Rinehart, City Manager
FROM: Krystle Nelinson, Development Program Manager
Title
Consider A Resolution Authorizing The Execution Of A Sale And Purchase Contract For 0.2162 Acres Of Land Located At 1120 West Belt Line Road In An Amount Not To Exceed $255,000.00.
Body
BACKGROUND:
This purchase of real property will acquire 0.2162 acres (9,417 square feet) of land located in Downtown Carrollton, north of West Belt Line Road and east of IH-35E. The purchase of this parcel is a strategic acquisition to remove a vacant, blighted structure from the property.
FINANCIAL IMPLICATIONS:
The purchase price for the parcel is $250,000. An additional $5,000 is being budgeted for closing costs and related expenses (survey, title work, etc.). Funding for the purchase is available in the TOD Capital Account.
STAFF RECOMMENDATION/ACTION DESIRED:
Staff recommends City Council approval of a resolution authorizing the execution of a sale and purchase contract for 0.2162 acres of land located at 1120 West Belt Line Road in an amount not to exceed $255,000.