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6.e.

TCEDC Agenda

Meeting Date:

12/06/2023

Consider approval of purchase of property located within the Industrial Business District (GCAD 223876).

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 223876).

BACKGROUND

The Texas City Economic Development Corporation (TCEDC) has historically purchased property located in the Industrial Business District – which cannot be used for residential or general retail purposes. The area is designated to support light industrial use.

TCEDC staff has been approached by Shalesha Johnson on behalf of her late grandfather, who owned a piece of property located at #20, 2^nd Avenue N., within the IBD. The property is listed by the Galveston County Appraisal District as ID# 223876, and it is .1 acres, or 4,356 square feet, in size. Staff made a conditional offer to purchase the property at a rate of $2.45/square foot (TCEDC established price per square foot), calculated to $10,672.20 total, contingent upon approval by the EDC.

With taxes owed totaling $8,337.80, the total payout to Ms. Johnson would be $2,334.40.

ANALYSIS

Approve the purchase of property located within the Industrial Business District (GCAD 223876).

ALTERNATIVES CONSIDERED

Attachments

IBD - Johnson

Resolution