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<br />209. <br /> <br />RESOLUTION NO. 2001- 150 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS, APPROVING THE TERMS AND CONDITIONS OF AN EARNEST <br />MONEY CONTRACT BETWEEN THE CITY AND C&G DEVELOPMENT FOR <br />THE CITY'S ACQUISITION OF A 325 ACRE, MORE OR LESS, TRACT OF <br />LAND IN CONNECTION WITH THE WONDER WORLD DRIVE EXTENSION <br />PROJECT AND THE SAN MARCOS REGIONAL PARK PRESERVE PROJECT; <br />APPROVING A LETTER AGREEMENT WITH C&G DEVELOPMENT FOR <br />RIGHT-OF- WAY FOR THE FUTURE EXTENSION OF CRADDOCK AVENUE; <br />AUTHORIZING THE CITY MANAGER TO EXECUTE THE AGREEMENTS ON <br />BEHALF OF THE CITY; AND DECLARING AN EFFECTIVE DATE. <br /> <br />RECITALS: <br /> <br />1. The citizens of San Marcos approved the issuance of general obligation bonds for the <br />acquisition of right-of-way for the extension of Wonder World Drive (the "Extension") at a special <br />election on November 3, 1998. <br /> <br />2. The City has begun the design and route selection processes for the Extension, and is in <br />the process of performing environmental assessment studies for the Extension. In connection with <br />these studies, the City has initiated contacts with the United States Fish and Wildlife Service <br />("USFWS") regarding the Extension. <br /> <br />3. USFWS has informed the City of the possibility that the City will be required to <br />implement a plan for the acquisition and maintenance of undeveloped areas to avoid and minimize <br />the impacts of the Extension. <br /> <br />4. The City has negotiated the acquisition of a 325 acre, more or less, tract of property from <br />C&G Development, part of which will serve as right-of-way for the Extension, and part of which can <br />be set aside by the City to avoid and minimize the impacts of the Extension as part of the San <br />Marcos Regional Park Preserve Project, and the City has also negotiated an agreement under which <br />C&G Development will dedicate right-of-way for the future extension of Craddock Avenue. <br /> <br />5. The City Council wishes to approve an earnest money contract and letter agreement for <br />these property acquisitions. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> <br />PART 1. The attached Earnest Money Contract between the City of San Marcos and C&G <br />Development for the City's acquisition of a 325 acre, more or less, tract of property, in connection <br />with requirements for avoiding and minimizing the impacts of the Extension, is approved. <br /> <br />C:\TEMP\CG EMKDOC <br />