City of Round Rock - File #: 2017-4147

• File #: 2017-4147
• Type: Resolution
• Status: Passed
• File created: 1/12/2017
• In control: City Council
• On agenda: 1/26/2017
• Final action: 1/26/2017
• 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 1.5 acres of land known as the Boyles Tract.

Date	Ver.	Action By	Action	Result
1/26/2017	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 1.5  acres of land known as the Boyles Tract.

Body

This resolution authorizes the Mayor to execute the Assignment and Assumption and Lease-Back Agreement. This document assigns to the City the real estate purchase contract for the Boyles tract. The Boyles tract will be owned by the City and leased to Kalahari. Kalahari will make an additional initial rent payment which will cover the purchase cost of the Boyles tract.