HomeMy WebLinkAboutPR 18902: EDC INCREASE THE PRICE PER ACRE IN THE BUSINESS PARK Interoffice
MEMORANDUM
To: Mayor, City Council, City Manager
From: Floyd Batiste, CEO--7.e
Date: March 11, 2015
Subject: P. R. No. 18902; Council Meeting of March 17, 2015
ATTACHED IS PROPOSED RESOLUTION 18902
AUTHORIZING THE CITY OF PORT ARTHUR SECTION
4A ECONOMIC DEVELOPMENT CORPORATION TO
INCREASE THE PRICE PER ACRE IN THE BUSINESS
PARK LOCATED AT 9555 W. PORT ARTHUR ROAD TO
$57,500 PER ACRE
P. R. No. 18902
03/09/2015
RESOLUTION NO.
A RESOLUTION AUTHORIZING THE CITY OF PORT
ARTHUR SECTION 4A ECONOMIC DEVELOPMENT
CORPORATION TO INCREASE THE PRICE PER ACRE IN
THE BUSINESS PARK LOCATED AT 9555 W. PORT ARTHUR
ROAD TO $57,500 PER ACRE
WHEREAS, the City of Port Arthur Section 4A Economic Development Corporation
("PAEDC") Board of Directors has determined that the value of land in the PAEDC Business
Park located at 9555 W. Port Arthur Road (the "Business Park") should be increased due to
recent improvements made in the Business Park; and
WHEREAS, the Business Park consists of 302 acres with approximately 135 acres
considered available for sale; and
WHEREAS, the PAEDC Board of Directors has found that additional costs will be
incurred unrelated 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 January 25, 2012 per Resolution 12-043; and
WHEREAS, costs for new road construction and dirt movement in the Business Park
will be approximately $954,307; and
WHEREAS, the PAEDC Board of Directors at a special Board meeting held on
February 23, 2015, voted and approved increasing the price per acre to $57,500.
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.
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Section 2. That the Port Arthur City Council approves the sales price per acre for acreage
in the Business Park as $57,500 per acre.
Section 3. That a copy of this Resolution shall be spread upon the Minutes of the City
Council.
READ, ADOPTED AND APPROVED on this day of A.D., 2015,
at a Meeting of the City Council of the City of Port Arthur, Texas, by the following vote:
AYES:
Mayor
Councilmembers
NOES:
Deloris "Bobbie" Prince, Mayor
ATTEST:
Sherri Bellard, City Secretary
APPROVED:
Floyd Bati e, PAEDC CEO
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APPROVED AS 0 FORM:
Ifr
Guy N. oodson, PAEDC Attorney
APPROVED AS TO FORM:
Veti
-41
Valecia R. Tizeno, ClrAttorner-
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