SUBJECT
title
Resolution of the City Council of the City of Laredo, Texas, to execute all necessary documents for the purchase of the “surface only” of a 5.5-acre tract (239,580 square feet), more or less, situated within Buena Vista Ranch Land Development Co., LLC, Cuatro Vientos South, Ltd Sur, no. 35, J.M. Diaz, A-546 Webb County, for the sum of $1,890,000.00. The City agrees to cover fifty percent of the closing costs, estimated at $4,000.00, with Cuatro Vientos South Ltd., being more particularly described and depicted in the attached exhibit “A”. Funding is available in the 2022 Certificate of Obligation Bond. Providing for an effective date.
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PREVIOUS COUNCIL ACTION
N/A
BACKGROUND
The Police department needs the property for a Police sub-station.
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Staff recommends the approval of this Resolution
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Fiscal Impact
Fiscal Year: 2024
Budgeted Y/N?: Y
Source of Funds: 2022 Certificate of Obligation
Account #: 475-9854-525-9201
Change Order: Exceeds 25% Y/N: N/A
FINANCIAL IMPACT:
Funding is available in 2022 Certificate of Obligation.