PRESENTER: Presenter
Robert Camareno, City Manager
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SUBJECT: Title
Discuss and Consider approval of and Authorization for the City Manager to execute an Interlocal Agreement between the City of New Braunfels and New Braunfels Independent School District for the purchase of approximately five acres out of a 31.972-acre tract of land described as Lot 1, Block 3, NBISD Subdivision, Guadalupe County, Texas.
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DEPARTMENT: City Manager’s Office
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COUNCIL DISTRICTS IMPACTED: District 2
BACKGROUND INFORMATION:
The City has been in negotiations with NBISD for the purchase of approximately five acres of land located at the southwest corner of Walnut Avenue and Settlers Crossing in Guadalupe County to hold for use as a future branch of the New Braunfels Public Library.
The proposed interlocal agreement sets forth the terms of the purchase of the property including survey requirements, determination of fair market value for the property, platting requirements, feasibility period and a timeline to close. Once fair market value and other additional information is obtained, the purchase of the property will be brought back before City Council again for final action.
ISSUE:
Infrastructure: Continue an ongoing program of infrastructure construction and maintenance
FISCAL IMPACT:
The appraisal will determine the purchase price of the property described above. The primary funding source will be proceeds from the sale of old Police Department building (1488 S. Seguin); however, surplus General Fund reserves could also be leveraged if needed. Therefore, sufficient funds are available.
Recommendation
RECOMMENDATION:
Staff recommends approval of this interlocal agreement