Res 2003-086 - Laserfiche WebLink

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100. RESOLUTION NO. 2003- 86 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, APPROVING THE TERMS AND CONDITIONS OF PROPERTY EXCHANGE AGREEMENTS BETWEEN THE CITY AND THE TEXAS STATE UNIVERSITY SYSTEM, ON BEHALF OF SOUTHWEST TEXAS STATE UNIVERSITY, AND BETWEEN THE CITY AND AMERICAN CAMPUS (SWT II), LTD., PERTAINING TO THE ABANDONMENT OF A PORTION OF FREDERICKSBURG STREET AND IMPROVEMENTS TO COMANCHE STREET; AUTHORIZING THE CITY MANAGER TO EXECUTE THE AGREEMENT ON BEHALF OF THE CITY AND DECLARING AN EFFECTIVE DATE. R RECITALS: 1. The City owns the right-of-way of North Fredericksburg Street depicted.as "0.2029 Acres- Right-of-Way Abandonment Tract" on the map attached as Exhibit A (the "City Tract"), and the Texas State University System, on behalf of Southwest Texas State University ("SWT"), wishes to acquire the City Tract to provide for the construction of a new student residence hall facility and related improvements by American Campus (SWT II), Ltd. ("American Campus") on the City Tract and on adjacent tracts of property owned by SWT and by American Campus. 2. SWT or American Campus own the following parcels of real property (the "SWT Tracts") depicted as follows on the map attached as Exhibit A: a) 0.0712 Acres Right-of-Way Tract b) 0.0173 Acres 5' Sidewalk Easement c) 0.0217 Acres Right-of-Way Tract d) 0.0602 Acres 10' Easement e) 0.0099 Acres 5' Sidewalk Easement f) 0.0201 Acres Right-of-Way Tract The City wishes to acquire the SWT Tracts to provide for street, sidewalk and utility improvements to Comanche Street (the "Comanche Street Improvements"). 3. The City, SWT and American Campus desire to exchange the City Tract for the SWT Tracts on the terms and conditions contained in the attached agreement between the City and SWT and the attached agreement between the City and American Campus. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART 1. The attached Property Exchange Agreement between the City of San Marcos and the Texas State University System, on behalf of Southwest Texas State University is approved, and the attached Property Exchange Agreement between the City of San Marcos and American Campus (SWT II), Ltd. is approved.