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			6.d.
TCEDC Agenda
Meeting Date: 11/15/2023   Consider approval of purchase of property located within the Industrial Business District (GCAD 223992). Submitted For: Kristin Edwards Submitted By: Kristin Edwards, Economic Development Department: Economic Development
ACTION REQUEST (Brief Summary)
Consider approval of purchase of property located within the Industrial Business District (GCAD 223992).
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. TCEDC staff has been approached by Taunya Black on behalf of landowner Benny Black, Jr., who owns a piece of property located near the intersection of 2nd Street and Texas Avenue, within the IBD. The property is listed by the Galveston County Appraisal District as ID# 223992, and it is .14 acres, or 6,098.4 square feet in size. Staff made a conditional offer to purchase the property at a rate of $2.45/square foot, calculating to $14,941.08 total, contingent upon approval by the EDC.  Funding is availiable within the existing budget to purchase the property.
ANALYSIS
Approve the purchase of property located within the Industrial Business District as further described in GCAD as property ID 223992.
ALTERNATIVES CONSIDERED
Attachments IBD property purchase - 223992 Resolution

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