HomeMy WebLinkAboutRES 092314-AB - Land Exch Agmt SGR PlaceTEXAS,
INTO r. LAND
EXCHANGE AGREEMENT r GABRIEL
WHEREAS, SAN GABRIEL RIVER PLACE FOUNDATION, LTD. ("SGRPF"), a
Domestic Limited Partnership (LP) in the State of Texas, is the owner of .66 acres of real
property in Ge• • - •Texas,- legal description of • 4 Block 4 Division li;
the Original Townsite of of -e - •wn, Williamson County,- • at
WHEREAS, the City of Georgetown ("City") is the owner of 1.466 acres of real
property in Georgetown, Texas, with the legal description of Lots 4-7 and part of Lot 8, Block
8, part of Lots 5-8, Block 4, and part of Outlot 1, Division D, of the Original Townsite of the
WHEREAS, andSGRPFpropose• exchange the two properties discussed
above,desires to improve access to Blue Hole Park and SGRPFdesires to
WHEREAS, SGRPF agrees to limit the height for any development on the property to
twenty (20) feet and to follow all applicable aspects of the Unified Development Code and ths
Downtown Design Guidelines;d
WHEREAS, the 2013 Downtown Master Plan describes the area surrounding No
Austin Avenue in the downtown overlay as an opportunity are• and envisions developme
scenarios such as mixed use buildings, residential buildings, retail buildings or lodging; and I
WHEREAS, the SGRPF agrees • make a payment to the City fore difference AS
valuations of - properties • of $56,000; •'
WHEREAS, the City will dedicate these funds for parkland improvements.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, THAT:
ar�z-
hereby found and declared to be true and correct,and are incorporated by
herein and expressly made a part hereof, as if copied verbatim. The City Council hereb),
r ,
RESOLUTION ® i
authorizes the City to enter into the land exchange contingent on deed forms acceptable
to the City and clear title.
SECTION I The land exchange continues the implementation of the goals of
Downtown Master Plan and encourages continued public and private investment in
district. Furthermore, the exchange coincides with the Parks Master PI
recommendations of improving Blue Hole and the San Gabriel River trail connections.
'I
SECTION 3: The resulting tract of land owned by San Gabriel River Place Foundation,
Ltd, after the land exchange is concluded, shall constitute a legal lot pursuant to the
City's Unified Development Code, will reside in the Downtown Overlay District and
Downtown TIRZ, and shall have the zoning designation of MU -DT.
SECTION 4: The resulting tract of land owned by the City of Georgetown, after the
land exchange is concluded, shall constitute a legal lot pursuant to the City's Unified
Development Code, will reside in the Downtown Overlay District and Downtown
TIRZ, and shall have the zoning designation of MU -DT.
Jill• 11 111• •11
PASSED and APPROVED this ;�,g V -J day of '�Q>T, 2014.
Jes(i/ca Brettle, City Secretary
RESOLUTION NO. 01 A I Li -fli PAGE 2 A
Bridget Chapman, City Attorney