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			6.f.
TCEDC Agenda
Meeting Date: 11/15/2023   Consider purchase of property within Industrial Business District (GCAD ID# 175798 and 175795). 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 ID# 175798 and GCAD ID# 175795).
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 landowner Rudy Moreno, who owns two pieces of property within the IBD, located near the intersection of Texas Avenue and 31st Street S. The properties are listed by the Galveston County Appraisal District as ID# 175798 and ID# 175795, and are .1481 acres each, or 6,450 square feet each, in size. Staff made a conditional offer to purchase both pieces of property at a rate of $2.45/square foot, calculating to $31,605 total, contingent upon approval by the EDC.  Funding for the purchase is availiable in the existing budget.
ANALYSIS
Approve the purchase of properties located within the Industrial Business District further described in GCAD as ID 175798 and GCAD ID 175795.
ALTERNATIVES CONSIDERED
LEGAL ONLY
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Attachments IBD properties purchase 175s Resolution

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