Consider and take action on Resolution No. 19-02, authorizing the Mayor and Mark Ciavaglia to negotiate and enter into an agreement with Meritage Homes of Texas, LLC to purchase approximately 33 acres of TCEDC property adjacent to FM 2004.

Tom Moughon, has a contract with Meritage Homes of Texas, LLC, to purchase the  67 acres along FM 2004 that he owns, adjacent to this TCEDC property. Mr. Moughon initially planned to build an RV park and some other commercial buildings in this area, but his request to rezone was denied. The TCEDC originally swapped land with Mr. Moughon to accommodate that earlier project.  He would now like to sell to a developer (Meritage Homes) to build a single-family residential development, but Meritage needs more acreage to make the project feasible. It is proposed that the TCEDC sells approximately 33 acres of it's adjacent property to Meritage for said project for an amount not less than $850,000.  This project would be in line with what several of the local residents indicated during Mr. Moughon's zoning request for the RV and storage project.