6.a.
TCEDC Agenda
- Meeting Date:
- 03/25/2026
- Title:
- Approve purchase of a .071-acre property located within the Industrial Business District.
- Submitted For:
- Kristin Edwards
- Submitted By:
- Kristin Edwards, Economic Development
- Department:
- Economic Development
ACTION REQUEST (Brief Summary)
Approve purchase of a .071-acre property located within the Industrial Business District.
BACKGROUND
The Texas City Economic Development Corporation has historically purchased property located in the Industrial Business District – which cannot be used for residential or general retail purposes - to support Light Industrial use and to provide a buffer between industrial development and residential development.
TCEDC staff were approached by Hugo Castro, who owns one piece of property within the IBD. There are no structures on the property, located at 511 Texas Avenue.
Given the $2.55/square foot purchase price the EDC would typically consider in a purchase of IBD property, the total cost to acquire the property would be $7,886.54.
Staff has communicated a conditional offer to purchase the properties for the cost above, contingent upon approval by the EDC. Mr. Castro has indicated he is fully prepared to accept the offer.
Funds are available in the FY26 EDC Budget (Fund 801).
TCEDC staff were approached by Hugo Castro, who owns one piece of property within the IBD. There are no structures on the property, located at 511 Texas Avenue.
Given the $2.55/square foot purchase price the EDC would typically consider in a purchase of IBD property, the total cost to acquire the property would be $7,886.54.
Staff has communicated a conditional offer to purchase the properties for the cost above, contingent upon approval by the EDC. Mr. Castro has indicated he is fully prepared to accept the offer.
Funds are available in the FY26 EDC Budget (Fund 801).
ANALYSIS
Approve purchase of property located within the Industrial Business District owned by Hugo Castro, for a total purchase price of $7,886.54.