HomeMy WebLinkAboutPR 21108: RESCINDING RESOLUTION 19-210, EDC AGREEMENT WITH MID-COUNTY PLAZA, LLC Interoffice
MEMORANDUM
To: Mayor, City Council, City anager
From: Floyd Batiste, CEO _
Date: October 15, 2019
Subject: P.R.No. 21108; Council Meeting of October 22, 2019
ATTACHED IS PROPOSED RESOLUTION NO. 21108
RESCINDING RESOLUTION NO. 19-210 IN ITS ENTIRETY
AS IT PERTAINS TO THE APPROVAL OF A PURCHASE
AGREEMENT BETWEEN THE CITY OF PORT ARTHUR
SECTION 4A ECONOMIC DEVELOPMENT CORPORATION
AND MID-COUNTY PLAZA,LLC
P. R. No. 21108
10/10/2019 KVM
RESOLUTION NO.
A RESOLUTION RESCINDING RESOLUTION NO. 19-210 IN
ITS ENTIRETY AS IT PERTAINS TO THE APPROVAL OF A
PURCHASE AGREEMENT BETWEEN THE CITY OF PORT
ARTHUR SECTION 4A ECONOMIC DEVELOPMENT
CORPORATION AND MID-COUNTY PLAZA, LLC
WHEREAS, per Resolution No. 19-210, the City Council of the City of Port Arthur
approved the City of Port Arthur Section 4A Economic Development Corporation("PAEDC") to
enter into a Purchase Agreement with Mid-County Plaza, LLC; and
WHEREAS,Mid-County Plaza, LLC intended to purchase a 1-acre tract of vacant land in
the Spur 93 Business Park for the purpose of constructing a warehouse/office space; and
WHEREAS,the Purchase Agreement has reached the end of its feasibility period, and the
purchase was not closed on; and
WHEREAS, the PAEDC Board of Directors at their regular Board meeting of October 7,
2019, agreed to rescind the Purchase Agreement with Mid-County Plaza, LLC.
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 That Resolution 19-210 is rescinded in its entirety.
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., 2019,
at a Meeting of the City Council of the City of Port Arthur, Texas, by the following vote: AYES:
Mayor
Councilmembers
NOES:
Thurman Bartie, Mayor
ATTEST:
Sherri Bellard, City Secretary
APPROVED:
Floyd Bati e, PAEDC CEO
APPR AS TO FORM
e4--t
Guy N. Goodson, PAEDC Attorney
APPROVED AS TO FORM:
Valecia R. Tizeno, City Attorney
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