Res 2006-036 - Laserfiche WebLink

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I I I 164. RESOLUTION NO. 2006----3.6-R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, APPROVING THE TERMS AND CONDITIONS OF A RELEASE AGREEMENT BETWEEN THE CITY AND WILLIAM CHRISTOPHER CARSON AND WC2 JOINT VENTURE RELATED TO A SALE OF PROPERTY ADJACENT TO AN UNOPENED PORTION OF McGEHEE STREET; AND DECLARING AN EFFECTIVE DATE. RECITALS: 1. In February of2004, the City received a request from Mr. Chris Carson for sale of City- owned property adjacent to an unopened portion of McGehee Street. The City staff reviewed the request, and the Legal Department confirmed City ownership of the tract under a 1980 deed to the City from the Urban Renewal Agency, and a check of current Hays Central Appraisal District records. 2. In March of2004, the City staff advertised the property for sale, and Mr. Carson submitted a bid of $4,208 for the property. In July of 2004, the City Council approved the sale of this tract of property to Mr. Carson as high bidder, and the City Manager executed a deed of the property to Mr. Carson after a survey of the property was performed. 3. Mr. Carson in turn executed a deed of the property to a business entity owned by him, WC2 Joint Venture. He recently contracted to sell the property along with an adjacent tract for the sum of $38,500. In preparing a title commitment for this sale, the Hays County Abstract Company determined that the tract deeded by the City to Mr. Carson was in fact owned by Reed & Company, under a 1981 deed from the City. 4. Mr. Carson informed the City of a claim based on the deed from the City. He presented documentation of out-of-pocket expenses (including the purchase price paid to the City) of $6,872.24, and the tentative sale contract (apportioning $19,250 to this property as half of the total purchase price). The City staff has negotiated the attached release with Mr. Carson, under which the City will pay Mr. Carson the sum of $10,000 to settle the title claim. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: P ART 1. The attached Release between the City and William Christopher Carson and W C2 Joint Venture related to a sale of property adjacent to an unopened portion of McGehee Street is approved, and the City Manager's execution of a quitclaim deed to Reed & Company, Ltd. pursuant to that agreement is approved. P ART 2. This Resolution is in full force and effect immediately from and after its adoption. ADOPTED on February 21, 2006.