Res 2003-019 - Laserfiche WebLink

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16. RESOLUTION NO. 2003- 19 R A RESOLUTION OF THE CITY COUNCIL OF TIlE CITY OF SAN MARCOS, TEXAS, APPROVING AMENDED EARNEST MONEY CONTRACTS WITH ALAN HOLT, WILLIAM C. HOLT, SHANI HOLT ARMBRUSTER, WILLIAM C. HOLT, JR., DAVID W. HOLT, AND TIMOTHY J. HOLT FOR THE PURCHASE OF TWO TRACTS OF PROPERTY 1N THE PROPOSED BLANCO SHOALS DEVELOPMENT; APPROVING AN AMENDED DONATION AGREEMENT FOR THE DONATION TO THE CITY OF FIVE TRACTS OF PROPERTY IN THE PROPOSED BLANCO SHOALS DEVELOPMENT; AND DECLARING AN EFFECTIVE DATE. RECITALS.'. 1. The City Council approved plmmed development district zoning for the proposed Blanco Shoals development, owned by Mr. Alan Holt and other members of the Holt fmnily, on June 24, 2002. 2. The development standards for the Blanco Shoals PDD call for the City to acquire, tl~rough donation, approximately 84.5 acres ofprope~ty in the PDD for use as greenspace/parldand, 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 acquisition of the 84.5 acre tract, and tbe Holt family members have requested that certain changes be made to the em'nest money contracts and the donation agreement. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART i. The attached amended earnest money contracts with Alan Holt, William C. Holt, Shani Holt Armbruster, Willim~ 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 Blanco Shoals PDD for purchase prices of $510,500 and $43,500, respectively, are approved. PART 2. The attached amended Donation Agreement with Alan Holt, Willimn 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 em'nest money contracts and the donation agreement on behalf of the City of San Mm'cos, upon the City's receipt ora letter of retroactivity related to this transaction from the Texas P~ks and Wildlife Depm~anent.