Title
Consider/Discuss/Act on a Resolution Authorizing the Sale of Land to the City of Celina, which Land Contains 1.00 Acre Situated in the Coleman Watson Survey, Abstract No. 945, Generally Located at the Southwest Corner of FM 2478 (Custer Road) and PR 5434 in an Unincorporated Area of Collin County; and Authorizing the Interim City Manager to Execute Deeds and Documents Regarding the Sale of Said City-Owned Property to the City of Celina
Summary
COUNCIL GOAL: Financially Sound Government
MEETING DATE: May 17, 2016
DEPARTMENT: Development Services/Engineering
CONTACT: Mark Hines, PE, Director of Engineering
RECOMMENDED CITY COUNCIL ACTION:
* Approval of Resolution.
ITEM SUMMARY:
* This item authorizes the sale, at fair market value, of 1.00 acre of land (Property) owned by the City of McKinney (McKinney) to the City of Celina (Celina), generally located at the southwest corner of FM 2478 and PR 5434 in an unincorporated area of Collin County and the extraterritorial jurisdiction of the City of Celina, and further authorizes the Interim City Manager to execute all necessary deeds and documents for the sale of said property to Celina.
BACKGROUND INFORMATION:
* The City acquired the systems and assets of the Danville Water Supply Company in 2011. The subject Property was acquired as part of the 2011 transaction.
* Celina recently approached the City to purchase the Property for a proposed fire station site.
* The City has no current use for the Property. The Property is located outside the City Limits and City ETJ.
* The City ordered an appraisal from Integra Realty Resources to determine the fair market value of the property. The appraisal indicated a value of $47,500 for the 1.00 acre parcel.
* The 1.00 acre site is currently improved with a water tower. The water tower is currently non-operational. In order to utilize the property for any other use than a water tower site, the tower will need to be demolished at a ...
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