HomeMy WebLinkAboutPR 20267: EDC TERMINATION THE COMMERCIAL LISTING CONTRACT WITH HAYES REAL ESTATE IP
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MEMORANDUM
To: Mayor, City Council, City Manager
From: Floyd Batiste, CEO _...
Date: May 15, 2018
Subject: P. R.No. 20267; Council Meeting of May 22, 2018
ATTACHED IS PROPOSED RESOLUTION 20267
TERMINATING THE COMMERCIAL LISTING
CONTRACT BETWEEN THE CITY OF PORT ARTHUR
SECTION 4A ECONOMIC DEVELOPMENT
CORPORATION AND HAYES REAL ESTATE.
P.R. No.20267
05/10/2018 RAJ
RESOLUTION NO.
A RESOLUTION AUTHORIZING THE CITY OF PORT ARTHUR
SECTION 4A ECONOMIC DEVELOPMENT CORPORATION TO
TERMINATE THE COMMERCIAL REAL ESTATE LISTING
AGREEMENT WITH HAYES REAL ESTATE FOR THE
COMMERCIAL LISTING SERVICES OF 501 PROCTER STREET IN
PORT ARTHUR, TEXAS
WHEREAS,on June 5, 2017,the City of Port Arthur Section 4A Economic Development
Corporation ("PAEDC") Board of Directors approved entering into a Commercial Real Estate
Listing Agreement (the "Agreement") with Hayes Real Estate for a 1-year period to lease tenant
space in the property located at 501 Procter Street, Port Arthur, Texas; and
WHEREAS,on May 7,2018,at its regular Board meeting,the PAEDC Board of Directors
approved to terminate the Agreement between PAEDC and Hayes Real Estate.
NOW THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PORT ARTHUR, TEXAS:
Section 1. That the facts and opinions in the preamble are true and correct.
Section 2. That PAEDC is herein authorized to terminate the Agreement with Hayes Real
Estate for the commercial listing services of 501 Procter Street.
Section 3. That a copy of the caption of this Resolution be spread upon the Minutes of the
City Council.
READ, ADOPTED AND APPROVED on this day of A.D., 2018,
at a Meeting of the City Council of the City of Port Arthur,Texas, by the following vote: AYES:
Mayor
Councilmembers
NOES: .
Derrick Freeman, Mayor
ATTEST:
Sherri Bellard, City Secretary
APPROVED:
Floyd Batiste AED CEO
APPROV. • • . TO FO y► :
Guy N. Goodson, PAEDC Attorney
APPROVED AS TO FORM:
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