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RESOLUTION 2010 - 110R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS, AUTHORIZING THE INTERIM CITY MANAGER <br />TO MAKE OFFERS AND ENTER INTO CONTRACTS FOR THE <br />PURCHASE OF TWO FORECLOSED SINGLE FAMILY HOMES <br />LOCATED AT 114 AZOLAR STREET AND 1601 PARKVIEW LANE FOR <br />A TOTAL EXPENDITURE, INLCUDING CUSTOMARY CLOSING <br />COSTS, NOT TO EXCEED $112,000.00 AND $115,000.00 <br />RESPECTIVELY FOR REHABILITATION AND RESALE TO <br />QUALIFIED BUYERS UNDER THE REQUIREMENTS OF THE CITY'S <br />NEIGHBORHOOD STABILIZATION GRANT; AUTHORIZING THE <br />INTERIM CITY MANAGER TO EXECUTE SUCH DOCUMENTS <br />REASONABLY NECESSARY TO TENDER SUCH OFFERS AND TO <br />CONSUMMATE THE PURCHASE OF SAID PROPERTIES; AND <br />DECLARING AN EFFECTIVE DATE. <br />RECITALS: <br />1. The City is eligible to receive funding for the purchase and rehabilitation of <br />foreclosed homes for the purpose of resale to eligible low and moderate income homebuyers <br />under a Neighborhood Stabilization Program ( "NSP ") grant from the State of Texas. <br />2. The homes located at 11 4 Azolar Street and 1601 Parkview Lane are foreclosed <br />properties eligible for purchase, rehabilitation and resale under the NSP grant. <br />3. The proposed purchase price, including customary closing costs, for the home <br />located at 114 Azolar Street is $112,000.00. The proposed purchase price, including customary <br />closing costs, for the home located at 1601 Parkview Lane is $115,000.00. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. Interim City Manager, Laurie Moyer, is hereby authorized to make offers <br />and enter into contracts for the purchase of the homes at 114 Azolar Street for a total <br />expenditure, including closing costs, not to exceed $112,000.00 and 1601 Parkview Lane for a <br />total expenditure, including closing costs, not to exceed $115,000.00, each to be paid or <br />reimbursed with NSP grant funds. <br />PART 2. The Interim City Manager is further authorized to execute any and all <br />documents reasonably necessary to tender such offers and to consummate the purchase of said <br />properties. <br />0 PART 3. This Resolution shall be in full force and effect from and after its passage. <br />