Title
Discuss and consider action to approve a resolution approving a real estate sales contract entered into by the Pflugerville Community Development Corporation (PCDC) and CI Way L.L.C.to sell Lots 2E.1 and 2E.2 of the Renewable Energy Park, totaling approximately 4.42 Acres of land from the One-Thirty Commerce Center Project.
Summary
After several rounds of negotiation, the PCDC has entered into an agreement with CI Way L.L.C. (a John Garrett company) to sell/purchase two lots in the One-Thirty Commerce Center Project for $731,633.76. The terms of the contract are shown in the exhibit to the Resolution. City Council Resolution 1202-09-03-10-11B requires City Council approval of PCDC contracts selling real property. This matter is presented for consideration by the PCDC seeking approval. The PCDC Board approved the sales contract by a vote of 6 for and 0 against.
Deadline for City Council Action
Action is requested on December 8, 2015.
Fiscal Impact
There is no fiscal impact to the City on this item.
Staff Recommendation
Discuss and take action as appropriate.
Drafter
George Hyde
PCDC Attorney