Title
Approving a resolution approving the purchase of approximately 0.25 acres located at 101 Pecan Street from Delton Southern, in an amount not to exceed $925,000, and authorizing the City Manager to execute the same.
Summary
The agreement is for the purchase of property located at 101 E. Pecan St. also known as Delton's Barbershop and the Cigar Lounge. This purchase supports the development of Downtown Pflugerville and represents a strategic investment in the city's future growth and prosperity. This item is supported by the Economic Development pillar of the Strategic Plan.
Deadline for City Council Action
Action is requested on September 24, 2024.
Funding Expected: Revenue __ Expenditure _X_ N/A __
Budgeted Item: Yes _X_ No __ N/A __
Amount: $925,000
1295 Form Required? Yes __ No _X_
Legal Review Required: N/A __ Required _X_ Date Completed: September 17, 2024
Supporting documents attached:
Resolution Purchase Agreement 101 E Pecan
Recommended Action
Approve the purchase of 101 E. Pecan St. in an amount not to exceed $925,000, and authorize the City Manager to execute the same.