Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute a Real Estate Exchange Agreement with Standard Pacific of Texas, Inc.
Summary
MEETING DATE: October 18, 2011
DEPARTMENT: City Council
CONTACT: Mark Houser, City Attorney
RECOMMENDED CITY COUNCIL ACTION:
• Approval of Resolution
ITEM SUMMARY:
• This agreement authorizes a contract to sell and convey to Standard Pacific a portion of a city-owned parcel on which Fire Station #8 is sited in exchange for a portion of a tract owned by Standard Pacific. The parcel received by the City will increase the frontage of the Fire Station #8 parcel.
• The City will appraise the parcels involved, and the excess value of the city-owned parcel compared to the parcel received will be paid by the City, at closing, less the value of a perimeter screening wall to be installed by Standard Pacific.
BACKGROUND INFORMATION: N/A
FINANCIAL SUMMARY: N/A
SPECIAL CONSIDERATIONS: N/A
BOARD OR COMMISSION RECOMMENDATION: N/A