Development Corporation
Agenda — 2 items
- Section 551.072 - Deliberations about real property regarding: 1. Purchase of 8.786 acres of land at the Industrial Park<br> 2. Sale of 27+/- Acres of land at the Industrial Park 3. Approximately 316 acres out of Sarah R. Robertson Survey No. 178.
- Consider a resolution for a project to expand the existing South Plains Lamesa Railroad Ltd (SPLRR) rail park through the purchase of approximately 251.874 +/-acres out of the Sarah R. Robertson, Survey 178, Abstract 8474, from the City of San Angelo at a sale price of $1,400,000 plus closing costs, and subsequently conveying the same property to Wisener Holdings, LLC dba SPLRR for cash at closing in the amount of $1,000,000, with the remainder of $400,000 subject to repayment pursuant to the terms of an economic development performance agreement; authorizing the Board President to negotiate and execute all necessary documents; and finding that such expenditures for land, infrastructure improvements, rail port facilities and related site improvements are necessary to promote or develop new or expanded business enterprises under Chapters 501 & 505 of the Texas Development Corporation Act, and recommending ratification by City Council. (Presentation by Michael Dane, Interim Director of Economic Development).
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