Title
Approving a resolution authorizing the sale of approximately 1.5 acres of land owned by the Pflugerville Community Development Corporation (PCDC) in the One-Thirty Commerce Center described as Renewable Energy Park, Renewable Energy Park Lot 1C to MW Builders, Inc.
Summary
This item is to request City Council approval for the sale of approximately 1.5 acres of land in the One-Thirty Commerce Center by the PCDC to MW Builders, Inc. for the planned development of the Regional Headquarters. Please find the attached City Council resolution, PCDC resolution and land sale contract. As specified in the land sale contract, sale of the property is contingent upon the completion of the due diligence provisions, and a drainage maintenance agreement to be replaced with property owners association documents upon completion of such documents.
Status
The PCDC Board unanimously approved the sale of land during a special meeting on December 12, 2016. This action must be approved by the City Council.
Deadline for City Council Action
Consideration is requested at the January 10, 2017 City Council meeting
Projected Future City Council Action
None.
Fiscal Impact
PCDC will receive gross revenue from this land sale in the amount of $281,152 based on $4.30 per sf. Net amount will be less any closing costs and commissions paid.
Staff Recommendation
The PCDC Board recommends approval.
Drafter
Amy Madison, Executive Director
Pflugerville Community Development Corporation