The City of Coppell
File #: 2017-3141    Version: 1 Name: Main Street - Resolution
Type: Resolution Status: Passed
File created: 1/4/2017 In control: Administration
On agenda: 1/10/2017 Final action: 1/10/2017
Title: Consider a Resolution authorizing the City Manager and Mayor to negotiate and execute an amendment to the purchase and sale agreement with the Coppell Economic Development Foundation dated November 17, 2010, and any necessary agreements and instruments related thereto, to provide for the conveyance of Lot 1X and Lots 14R through 25R, Block G, Replat Old Town Addition, for the purpose of reselling such property to Main Street Coppell, Ltd. for the purpose of expansion of the development.
Attachments: 1. 1st Amendment to Purchase and Sale Agreement Memo.pdf, 2. 1st Amendment to Purchase and Sale Agreement.pdf

Title

Consider a Resolution authorizing the City Manager and Mayor to negotiate and execute an amendment to the purchase and sale agreement with the Coppell Economic Development Foundation dated November 17, 2010, and any necessary agreements and instruments related thereto, to provide for the conveyance of Lot 1X and Lots 14R through 25R, Block G, Replat Old Town Addition, for the purpose of reselling such property to Main Street Coppell, Ltd. for the purpose of expansion of the development.

Summary

Main Street Coppell, Ltd. has requested to purchase additional land at the northwest corner of S. Coppell Road and Burns Street to construct twelve single family homes.  This land was not included in the original Purchase and Sale Agreement; therefore, the Purchase and Sale Agreement must be amended to allow this land sale.

 

 

Fiscal Impact:

[Enter Fiscal Impact Statement Here]

 

Staff Recommendation:

Economic Development recommends approval.

 

Goal Icon:

 

Business Prosperity

 

Special Place to Live