City of Round Rock - File #: 2016-4014

• File #: 2016-4014
• Type: Resolution
• Status: Passed
• File created: 11/28/2016
• In control: City Council
• On agenda: 12/15/2016
• Final action: 12/15/2016
• Title: Consider a resolution authorizing the Mayor to execute an Assignment and Assumption and Lease-Back Agreement with KR CC, Inc. related to the purchase of approximately 351 acres of land made up of the Bison Tract, the Krienke Tract, and the Keller Tract.

Date	Ver.	Action By	Action	Result
12/15/2016	1	City Council	approve	Pass

Title

Consider a resolution authorizing the Mayor to execute an Assignment and Assumption and Lease-Back Agreement with KR CC, Inc. related to the purchase of approximately 351 acres of land made up of the Bison Tract, the Krienke Tract, and the Keller Tract.

Body

This resolution authorizes the Mayor to execute the Assignment and Assumption and Lease-Back Agreement.  This Agreement assigns to the City the real estate purchase contracts for 351 acres. The property will be owned by the City and leased to Kalahari.

Recommended Action

Staff recommends approval.