COUNCIL COMMUNICATION
TO: Honorable Mayor and Council
FROM: Tabatha Miller, Administrative Services Director
SUBJECT:Title
Adopt Resolution No. 17-3124 Approving the Purchase of Springberg McAndrew’s Park, Located at 2117 and 2119 McCulloch Boulevard North, Tract 100, Block 14, Lots 2 and 3; and Authorizing the City Manager to Exchange Funds and Execute and Deliver all Documents Necessary to Complete the Transaction
Body
FUNDING SOURCE:
Debt Proceeds
PURPOSE:
This Resolution provides the Title Company the necessary documentation for City Staff to exchange the funds and execute and deliver all instruments necessary to complete the purchase of Springberg McAndrew’s Park.
BACKGROUND:
A high priority of the Vision 20/20 economic action plan is revitalizing the City’s Downtown District by creating a community gathering space that would appeal to visitors and residents of all ages. Referred to as the Downtown Project, this project was ranked as the most important by the 175 community members present at the Frontier Communication’s America’s Best Communities-Vision 20/20 Town Hall in early February, 2017. Location was not discussed at the Town Hall; however, the Springberg McAndrew’s Park was identified as a potential location for the Downtown Project.
On February 7, 2017, the City Council held an executive session to discuss instructing City Staff regarding negotiations for purchasing a property for the Downtown Project. Council in regular session, immediately following the executive session, approved and directed staff to negotiate the purchase of the Springberg McAndrew Park.
COMMUNITY IMPACT:
The Downtown Project will provide the community a gathering space, a performance venue, and a social hub. The vision is to draw people to the downtown area and create a sense of place.
FISCAL IMPACT:
$1,050,000 plus the City’s share of closing costs funded from the 2016 Excise Tax Issue. Available budget appropriation from unspent Community Investment Program (CIP) projects will be transferred to cover the purchase price.
ATTACHMENTS:
Resolution No. 17-3124
SUGGESTED MOTION:Recommended Action
I move to adopt Resolution No. 17-3124 approving the purchase of Springberg McAndrew’s Park, located at 2117 and 2119 McCulloch Boulevard North, Tract 100, Block 14, Lots 2 and 3; and authorizing the City Manager to exchange funds and execute and deliver all documents necessary to complete the transaction, subject to necessary City Attorney review.