City of Round Rock - File #: 2024-160

• File #: 2024-160
• Type: Resolution
• Status: Agenda Ready
• File created: 6/7/2024
• In control: City Council
• On agenda: 6/27/2024
• Final action: 6/27/2024
• Title: Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Faith Culture Church, Inc. for the purchase of Lot 10 of Amended Plat of Heritage Center Subdivision.
• Indexes: 2023 General Obligation Bonds

Date	Ver.	Action By	Action	Result
6/27/2024	1	City Council	approve	Pass

Title

Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Faith Culture Church, Inc. for the purchase of Lot 10 of Amended Plat of Heritage Center Subdivision.

Body

The proposed purchase price of $1,910,000 was determined based upon an appraisal report of the property provided by the landowner which was reviewed by the City's own outside appraisal consultant, and recommended for approval by the PARD Director. The City previously purchased adjacent portions of the church property for Heritage Trail East. This purchase would allow additional Downtown Park facility development.

Cost: $1,910,000.00

Source of Funds: 2023 General Obligation Bonds