HomeMy WebLinkAboutPR 21794: EDC, RESCINDING RESOLUTION NO. 19-563 Interoffice
MEMORANDUM
To: Mayor, City Council, City Manager
From: Floyd Batiste, CEO
Date: February 9, 2021
Subject: P.R.No. 21794 Council Meeting of February 16, 2021
ATTACHED IS PROPOSED RESOLUTION NO. 21794, A
RESOLUTION RESCINDING RESOLUTION NO. 19-563 IN
ITS ENTIRETY AS IT PERTAINS TO THE APPROVAL OF A
PURCHASE AGREMENT BETWEEN THE CITY OF PORT
ARTHUR SECTION 4A ECONOMIC DEVELOPMENT
CORPORATION AND MID-COUNTY PLAZA,LLC
P. R. No. 21794
2/3/2021 KVM
RESOLUTION NO.
A RESOLUTION RESCINDING RESOLUTION NO. 19-563 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. 19-563, 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 February
1, 2021 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 That Resolution 19-563 is rescinded in its entirety.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., 2021,
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
APPROV" :
i
Floyd Bat,te, PAEDC EO
APPROVED AS TO FORM:
uy . Goodson, AEDC Attorney
APPROVED AS TO FORM:
Valecia R. Tizeno, City Attorney
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