HomeMy WebLinkAboutEDCRes2019.04.02ANNA ECONOMIC DEVELOPMENT CORPORATION
RESOLUTION NO. • .2. ZO / q
A RESOLUTION OF THE ' ANNA ECONOMIC DEVELOPMENT CORPORATION
AUTHORIZING THE ANNA ECONOMIC DEVELOPMENT DIRECTOR TO ACCEPT AN
OFFER OF PAYMENT IN EXCHANGE FOR REAL PROPERTY AND TO INITIATE
COMPETITIVE BIDDING OR PROPOSALS FOR DEMOLITION, REPAIR AND
RENOVATION OF A STRUCTURE
WHEREAS, the Anna Economic Development Corporation (the "EDC") is the owner of
real property located at 312 N. Powell Parkway, Anna, Texas (the "Property"); and
WHEREAS, the Property includes a structure used primarily for office space (the
"Structure"); and
WHEREAS, on or about February 8, 2019, an agent of the Texas Department of
Transportation (the "Department") supplied the EDC with written notice (the "Notice")
that the Department was initiating property acquisitions for the widening of State
Highway 5; and
WHEREAS, the Notice stated the Department's intention to acquire a 2,148 square foot
strip of real property running along and encroaching beyond the western boundary line
of the Property (the "Strip Portion"); and
WHEREAS, the Strip Portion extends into the Property flatwork, landscaping, and the
western portion of the Structure necessitating that such portion of the Structure be
demolished, repaired and renovated; and
WHEREAS, the Board of Directors of the EDC (the "Board") acknowledges receipt of
the Department's appraisal of the value of the Strip Portion along with a valuation of the
damage to the remainder of the Property; and
WHEREAS, the Board finds that the Department's offer in the total amount of $378,494
(comprised of $13,962 for the purchase of the Strip Portion, $295,182 for the damage to
the Structure, and $69,350 for damage to the remainder of the Property) (the "Purchase
Offer") to purchase the Strip Portion is a fair and reasonable offer; and
WHEREAS, the Board desires to delegate full authority to the Board President and to
the City of Anna Economic Development Director (the "Director") to take all necessary
actions to accept the Purchase Offer and convey the Strip Portion to the Department;
WHEREAS, the Board further desires to delegate full authority to the Board President
and to the City of Anna Economic Development Director (the "Director") to take all
necessary action to initiate the process of competitive bidding or to initiate any similar
ANNA EDC RESOLUTION NO. - PAGE 1 OF 2
lawful procedures to receive proposals for the demolition, repair, and renovation of the
Structure;
NOW THEREFORE, BE IT RESOLVED BY THE ANNA ECONOMIC DEVELOPMENT
CORPORATION, THAT:
Section 1. Recitals Incorporated
The recitals set forth above are incorporated herein for all purposes as if set forth in full.
Section 2. Authorization to Accept Purchase Offer and Initiate Bidding
(a) The Board of Directors of the Anna Economic Development Corporation
authorizes the President and/or Director to act on behalf of the EDC to accept the
Purchase Offer and execute all necessary deeds and related instruments to
convey to the Department fee simple title of the Strip Portion sought to be
acquired by the Department.
(b) The Board further authorizes the President and the Director to execute any and
all instruments, amendments and other documents on behalf of the EDC to
consummate the sale of the Strip Portion to the Department in exchange for
payment of the Purchase Offer.
(c) The Director shall have full authority to initiate the process of competitive bidding
or to initiate any similar lawful procedures to receive proposals for the demolition,
repair, and renovation of the Structure; provided, however, that the Board shall
retain the authority to accept any bid or proposal or to reject all bids or proposals.
PASSED AND APPROVED b the Anna Economic Development Corporation this 4`
Y p rp
day of & : 1 , 2019.
If
APPROVED: %ATTEST:
Anthony ichards , EDC President Jim G r ki, EDC Secretary
ANNA EDC RESOLUTION NO. ' 2^ 2bM PAGE 2 OF 2