Title
Consider/Discuss/Act on a Resolution of the City of McKinney Authorizing the City Manager to Execute a Release Agreement with Wistron Corporation, and Providing for an Effective Date
Summary
MEETING DATE: June 19, 2012
DEPARTMENT: City Manager
CONTACT: Jason Gray, City Manager
RECOMMENDED CITY COUNCIL ACTION:
· Approval of Resolution
ITEM SUMMARY:
· The Resolution authorizes the City Manager to execute a release agreement in favor of Wistron Corporation relative to certain city-owned property.
BACKGROUND INFORMATION:
· Wistron Corporation has requested a release of environmental liability for conditions that may currently exist on the City's 168 acre parcel, formerly the municipal landfill. The site is leased to NTMWD which will be operating the site through closure and post-closure requirements, per the rules and regulations of the TCEQ. Wistron Corporation is negotiating the purchase of a parcel north of the city-owned parcel, and Wistron desires a release of environmental liability for any prior events or conditions which may have occurred and presently exist on the city's property, if any. The City Manager has been negotiating the terms of a release agreement that will protect the interests of the citizens.
FINANCIAL SUMMARY:
· N/A
BOARD OR COMMISSION RECOMMENDATION:
· N/A