Title
Consider a resolution authorizing the Mayor to execute a Contract For Sale of Real Property for the sale of McNeil Park to TOTKN, LLC.
Body
This resolution will approve a contract for the sale of an 18.414 acre tract of land know as McNeil Community Park. On May the 13th, 2006 an election was held where the citizens of the city authorized the city council to sell the parkland. In July of 2015 the City published a notice for bids to purchase the property. James Michael Farr was the only bidder, and the bid was for the appraised value of $1,100,000. This resolution authorizes the Mayor to execute the real estate contract to sell the property to TOTKN, LLC which is an entity owned by Mr. Farr. Mr. Farr’s proposed purpose for the property will be a music venue similar to the Nutty Brown Amphitheater in Dripping Springs.