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RESOLUTION NO. 2003- R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, APPROVING AMENDED EARNEST MONEY CONTRA.CTS W1TH ALAN HOLT, WILLIAM C. HOLT, SH.~~I HOLT ARJ..1BRDSTER, WILLIAM C. HOLT, JR., DAVID W. HOLT, AND TIMOTHY 1. HOLT FOR THE PURCHASE OF TWO TRACTS OF PROPERTY IN THE PROPOSED BLANCO SHOALS DEVELOPMENT; APPROVING AN AMENDED DONATION AGREEMENT FOR TI-IE DONATION TO THE CITY OF FNE TRACTS OF PROPERTY IN TI-IE PROPOSED BLANCO SHOALS DEVELOPMENT; AND DECLARING AN EFFECTNE DATE. RECITALS: 1. ll1e City Council approved planned development district zoning for théproposed BJanco Shoals development, owned by Mr. Alan Holt and other members of the Holt family, on June 24, 2002. 2. The development standards for the Blanco Shoals PDD call for the City to acquire, through donation, approximately 84.5 acres of property in the PDD for use as greenspace/parkland, and for the City to acquire two adjacent tracts of property by purchase, subject to certain contingencies. 3. The City Council on December 9, 2002 approved earnest money contracts for the purchase of the two tracts of property, and a donation agreement for acquisÜion of the 84.5 acre tract, and the HoJt family members have requested that certain changes be made to the earnest money contracts and the donation agreement. BE IT RESOLVED BY THE CITY COL'NCIL OF THE CITY OF SAN MARCOS, TEXA.S: PART 1. ll1e attached amended earnest money contracts with AJan Holt, William C. Holt, Shani Holt Armbruster, William C. Holt, Jr., David W. Holt, and Timothy J. Holt for the purchase of 11.36 acre and 4.6 acre tracts of property in the BJanco Shoals PDD for purchase prices of $5 I 0,500 and $43,500, respectively, are approved. PART 2. The attached amended Donation Agreement wÜh Alan Holt, William C. Holt, Shani Holt Armbruster, William C. Holt, Jr., David W. Holt, and Timothy J. Holt for the donation to the City of five tracts of property in the Blanco Shoals PDD, comprising approximately 84.5 acres, is approved. PART 3. The City Manager, Dan O'Leary, is authorized to execute the earnest money contracts and the donation agreement on behalf of the City of San Marcos, upon the City's receipt of a letter of retroactivity related to this transaction from the Texas Parks and Wildlife Department.