2024-R-110
Authorizing the City Manager to accept the charitable donation of a 213.42-acre (9,296,660 sq. ft.) tract from the Reuthinger Living Trust and The Reuthinger Residue Trust, at the estimated value amount of $15,547,677.00. Property located in the Tomas Sanchez Porcion Number 11, Abstract Number 279, Tomas Sanchez Porcion Number 10, Abstract Number 280, Blas Maria Diaz Porcion Number 9, Abstract Number 41, being out of and part of the residue of all of Porcion 11 (called 5,313.60-acre tract), also known as Tract Three, the residue of a called 4,106.8-acre tract, also known as Tract Five, and the residue of a called 3,180-acre tract, also known as Tract Four (Reuthinger Tract), conveyed to the Reuthinger Living Trust and the Reuthinger Residue Trust, Webb County, Texas, being more particularly described and depicted in the attached exhibit “A”. The City has agreed to pay $217,586.00 in damages, and an estimated amount of $60,000.00 in closing cost fees. Funding is available in the Capital Improvement Fund. Providing for an effective date.
- Committee
- City Council
- Requested by
- Community Development
- Introduced
- March 4, 2024
- On agenda
- March 18, 2024
- Passed
- March 18, 2024