Consider approving Mayor to exchange land between the City of Texas City and Sterling Chemicals. 

The City has been requested by Sterling to swap land that they have acquired outside the Industrial Business District for land the City has acquired within the Industrial Business District.  City staff has reviewed and visited each of the properties and has had an appraisal performed.  All of the City lots are small single properties of no significane.  The lots to be received are similar, however, because they are outside the IBD they have the potential for housing development or grouped together wfor better usage. The appraisal indicates that the property currently owned by the City has a greater value than the property proposed by Sterling.  Sterling has agreed to pay the additional money (roughly $20,000.00) and all closing costs.  Attached is a map of the properties to be exchanges (10 Citys to 8 Sterlings).