6.b.
TCEDC Agenda
- Meeting Date:
- 09/18/2024
- Title:
- Approval of Resolution No. 2024-09 Authrizing the sale of property to Binnacle Texas City 51 LLC.
- Submitted For:
- Jon Branson
- Submitted By:
- Jon Branson, Management Services
- Department:
- Management Services
ACTION REQUEST (Brief Summary)
Consider approval of Resolution No. 2024-09, authorizing the sale of 1,499 S. Ft., of property for a drainage easement to Binnacle Texas City 51 LLC.
BACKGROUND
As you may recall, this item was previously brought to the Board. However, it was tabled due to other properties being considered for acquisition and the Board wanted to resolve those matters prior to proceeding with this sale. Those issues have been resolved, and we are now ready to proceed.
Binnacle Texas City 51 LLC., has approached staff regarding their desire to purchase 1,499 Sq. Ft., of property from the Texas City Economic Development Corporation (TCEDC) for the purpose of a drainage easement to further the development of the Brookwater Subdivision as described in Exhibit "A" attached
Binnacle Texas City 51 LLC., has approached staff regarding their desire to purchase 1,499 Sq. Ft., of property from the Texas City Economic Development Corporation (TCEDC) for the purpose of a drainage easement to further the development of the Brookwater Subdivision as described in Exhibit "A" attached
ANALYSIS
Staff recommends consideration of the request from Binnacle Development LLC., to sell approximately 1,499 Sq. Ft., of Texas City Economic Development Corporation property to Binnacle Texas City 51 LLC., for the purpose of a drainage easement for the Brookwater Subdivision.
ALTERNATIVES CONSIDERED
Staff recommends approval of the proposed sale of the property to Binnacle Development LLC., in the amount of $3,822.45. This equates to $2.55 per Sq. Ft. The TCEDC's agreed upon minimum price per Sq. Ft., to sell TCEDC property.