Title
Authorize the City Manager to finalize and execute a contract with the Mesquite Independent School District, to purchase approximately 48.417 acres of land (the Property) for future City use, the Property being located at 925 McKenzie Road, in Mesquite, Texas, for the purchase price of $970,131.43 and related closing costs and authorizing the City Manager to execute all other documents and take all other actions necessary or requested to complete the closing and purchase of the property.
Body
The City has identified a 48.417-acre site owned by Mesquite Independent School District (MISD) that can be used for a future City use. The parcel is located on McKenzie Road, south of Faithon P. Lucas, Sr., Boulevard. MISD solicited an independent market appraisal of the Property. The Property was appraised at a market value of $970,000.00 on June 10, 2018. The City concurs with this valuation of the Property.
Financial Implications
Funding for purchase of the Property is proposed to be provided from proceeds from the sale of 4200 Faithon P. Lucas, Sr., Boulevard.
Recommended/Desired Action
Authorize the City Manager to execute the sales contract and closing documents for the purchase of the 48.417-acre land parcel.
Attachment(s)
Location Map
Contract for Sale
Drafter
Valerie Bradley
Head of Department
Valerie Bradley