Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute a Real Estate Sales Contract for the Purchase of a Tract of Land Being All of Lots 9 and 10, Block 6, of the H&TC RR Addition
Summary
COUNCIL GOAL: Direction for Strategic & Economic Growth
MEETING DATE: May 20, 2025
DEPARTMENT: City Manager’s Office
CONTACT: Barry Shelton, Assistant City Manager
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Resolution.
ITEM SUMMARY:
• This Resolution authorizes the City Manager to execute a Real Estate Sales Contract for the purchase of a tract of land being all of Lots 9 and 10, Block 6, of the H&TC RR Addition, an addition to the City of McKinney, according to the plat thereof recorded in Volume 46, Page 1, Plat Records, Collin County, Texas.
BACKGROUND INFORMATION:
• Completed in December 2024, City Hall offers adequate parking for staff and customers, with overflow public parking provided in public parking lots within two blocks of City Hall.
• Additional parking spaces will be necessary as employee numbers and community events increase in the future. Redevelopment of surrounding properties will also contribute to the need for additional public parking spaces within the district.
• The tract to be purchased, located north of the City Hall fleet lot, will allow for an estimated 30 to 40 additional parking spaces at City Hall. Design and construction of the parking lot will be presented to the City Council for future approval.
FINANCIAL SUMMARY:
• As agreed upon with the current property owner, the purchase price for the property shall be the market value of the property, measured on a per square foot basis, as determined by an appraisal commissioned by and paid by the City of McKinney.
• Approval of this resolution will authorize the City Manager to sign a Real Estate Sales Contract that will commit to the purchase of the property if the appraisal price is between $150,000 and $200,000.
• Funding for this property purchase is available in Project FC1707 New City Hall - McKinney Municipal Complex.