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City Council Meeting Minutes October 20, 2020 <br />date. <br />Mr. Lumbreras spoke on items # 8 and 9 and stated the owners approached the <br />city with strong interest and the negotiated price is fair. Mr. Lumbreras <br />mentioned the price for 128 and 140 S. Guadalupe is $1.6M or $60.64 sq. ft. <br />and the price for 152 S. Guadalupe is $824K or $62.49 sq. ft. Mr. Lumbreras <br />stated that searching other properties and comparing price ranges from $79.62 <br />sq. ft to $91.00 sq. ft. Mr. Lumbreras mentioned the use of the properties has <br />not been determined. Mr. Lumbreras stated when it went before the Downtown <br />Tax Increment Reinvestment Zone #5 (TIRZ) it was placed under category for <br />parking or other public facilities. Mr. Lumbreras noted the funding is coming <br />from Downtown TIRZ and the City owning the land can control the proper use <br />and meet the needs of downtown that will fit the historical nature. <br />Mr. Lumbreras stated as part of the due diligence in purchasing the properties, <br />monitoring wells were installed for soil and groundwater analysis purposes. <br />Mr. Lumbreras noted that no soil contamination was found but certain <br />chemicals typically associated with dry cleaning operations were found. Mr. <br />Lumbreras stated the location of the source was 128 and 140 S. Guadalupe <br />parcels. <br />Mr. Lumbreras mentioned that the current owner were pro -active and the City <br />has been accepted into the Texas Commission on Environmental Quality's the <br />Voluntary Cleanup Program and an amount above the anticipated cleanup <br />costs is being withheld from the purchase payment to fund the effort. Mr. <br />Lumbreras stated that no funding is being withheld since no clean-up <br />responsibilities associated with 152 S. Guadalupe. A professional analysis has <br />been done and we have a solid plan being paid by the current owners to do a <br />proper cleanup under the strict regulations by the TCEQ. <br />Deputy Mayor Pro Tem Rockeymoore asked several questions which were <br />answered by Laurie Moyer, Director of Engineering. Ms. Moyer stated that <br />the city entered into contract on these properties in December of last year and <br />January of this year. We conducted two phases of environmental analysis and <br />some monitoring wells were installed. During the interim we have been <br />working with the owners to allow prime property downtown to be cleaned, but <br />not paid by the taxpayers. This required contract extensions. We have been <br />accepted into the cleanup program by the TCEQ. <br />Deputy Mayor Pro Tem Rockeymoore inquired about the chemicals present <br />and if the groundwater at the water table level is affected. Ms. Moyer <br />responded that we did both soil and groundwater analysis along with vapor. <br />City of San Marcos Page 6 <br />