Title
Approving an ordinance on second reading with the caption reading: An ordinance authorizing the lease of City property located at 101 East Pecan, Pflugerville; providing cumulative, repealer and severability clauses; providing for open meeting and establishing an effective date.
Summary
On September 24, 2024, City Council approved the purchase of 101 E. Pecan Street. The property currently has a tenant operating on-site. Under the terms of the lease, the tenant may continue operations for six months from closing at their existing monthly rent of $1,500, plus $846 per month for property taxes, with no renewal option. During this period, all maintenance and repair responsibilities remain with the tenant for the portion of the building they are leasing. Per Section 3.14 of the City Charter, the conveyance or lease of any city land requires an ordinance.
This item is supported by the Economic Development pillar of the Strategic Plan.
Prior City Council Action
City Council approved the ordinance on first reading on November 12, 2024
On September 24, 2024 - City Council approved the purchase of 101 E. Pecan from Delton Southern not to exceed $925,000.
Deadline for City Council Action
Action is requested on November 26, 2024.
Funding Expected: Revenue _X_ Expenditure __ N/A __
Budgeted Item: Yes __ No _X_ N/A __
Amount: $19,152
1295 Form Required? Yes __ No _x_
Legal Review Required: N/A __ Required _x_ Date Completed: 10/24/2024
Supporting documents attached:
Ordinance
Recommended Action
Approve the ordinance on second reading.