HomeMy WebLinkAboutPR 21838: EDC, INCREASING THE VALUE OF LAND, SPUR 93 BUSINESS PARK LOCATED AT 9555 W. PORT ARTHUR ROAD IN PORT ARTHUR, TEXAS Interoffice
MEMORANDUM
To: Mayor, City Council, 6. M er
From: Floyd Batiste, CEO t'(J rr
Date: March 9, 2021
Subject: P.R. No. 21838; Council Meeting of March 16, 2021
ATTACHED IS PROPSED RESOLUTION NO. 21838
INCREASING THE VALUE OF LAND IN THE CITY OF
PORT ARTHUR SECTION 4A ECONOMIC
DEVELOPMENT CORPORATION'S SPUR 93 BUSINESS
PARK LOCATED AT 9555 W. PORT ARTHUR ROAD IN
PORT ARTHUR, TEXAS
P.R. No. 21838
3/2/2021 KVM
RESOLUTION NO.
A RESOLUTION INCREASING THE PRICE OF LAND IN
THE CITY OF PORT ARTHUR SECTION 4A ECONOMIC
DEVELOPMENT CORPORATION'S SPUR 93 BUSINESS
PARK LOCATED AT 9555 W. PORT ARTHUR ROAD IN
PORT ARTHUR, TEXAS
WHEREAS, the City of Port Arthur Section 4A Economic Development Corporation
("PAEDC") has undertaken an analysis of the value of land in the PAEDC Business Park located
at 9555 W. Port Arthur Road in Port Arthur, Texas (the "Business Park"); and
WHEREAS, the PAEDC Board of Directors has found that additional costs will be
incurred related to operation and maintenance of the Business Park; and
WHEREAS, the last price increase per acre approved by the City Council of the City of
Port Arthur was on March 17, 2015 per Resolution 15-102; and
WHEREAS, the PAEDC Board of Directors at its March 1, 2021 meeting, approved
increasing the price to $62,100 per acre to fall comparable with current market values.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PORT ARTHUR:
Section 1. That the facts and opinions in the preamble are true and correct.
Section 2. That the increase in the price per acre in the PAEDC Business Park from
$57,500 to $62,100 per acre is herein approved by the City Council of the City of Port Arthur.
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
APPROVED•
Floyd Batisti,PAEDbCE
APPROVED AS TO F
Guy . Goodson, PAEDC Attorney
APPROVED AS TO FORM:
Valecia R. Tizeno, City Attorney
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