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HomeMy WebLinkAboutRES 112514-ERESOLUTIONNO. lla5H—t'� GEORGETOWN, TEXAS, AUTHORIZING THE CITY TO ENTER INTO A LAND EXCHANGE AGREEMENT OF CITY PROPERTY DESCRIBED AS 63,560 SF (1.46 ACRES) OUT OF THE NICHOLAS T4#-*—t*W.010JVVEY,A-497- ALSO BEING 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 CITY OF 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 Georgetown, Texas, with the legal description of Lots 1-4, Block 4, Division D, of the Original Townsite of the City of Georgetown, Williamson County, Texas valued at $46,000; and WHERE AS, 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 zn City of Georgetown, Williamson County, Texas valued at $102,000; and WHEREAS, the City and SGRPF propose to exchange the two properties discussed above, as the City desires to improve access to Blue Hole Park and SGRPF desires to construct a mixed-use residential development; and WHEREAS, SGRPF agrees to limit the height for any development to twenty-five (25) feet from the average grade of Scenic Drive along the property, and to follow all applicable aspects of the Unified Development Code and the Downtown Design Guidelines; and WHEREAS, the 2013 Downtown Master Plan describes the area surrounding North Austin Avenue in the downtown overlay as an opportunity area, and envisions development scenarios such as mixed use buildings, residential buildings, retail buildings or lodging; and WHEREAS, the SGRPF agrees to make a payment to the City for the difference in valuations of the properties in the amount of $56,000; and WHEREAS, the City will dedicate these funds for parkland improvements. RESOLUTION NO. I I ; 5- 19 "' 15 PAGE 1 OF 3 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CIT -T-0' 17 - GEORGETOWN, TEXAS, THAT: SECTION 1: The facts and recitations contained in the preamble of this resolution are hereby found and declared to be true and correct, and are incorporated by reference herein and expressly made a part hereof, as if copied verbatim. The City Council hereby authorizes the City to enter into the land exchange on the terms and conditions contain SECTION 2: The exchange continues the implementation of the goals of the Downtown Master Plan and encourages continued public and private investment in the district. Furthermore, the exchange coincides with the Parks Master Plan recommendations of improving Blue Hole and the San Gabriel River trail connections. 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. SECTION 5: This resolution shall become effective from and after its passage. 4, Nov "-- svw, PASSED and APPROVED this c� 5' - day of 2014. Dale Ross, Mayor RES TION NO. PAGE 2CSF 3 '-__--__-_--_' __/ Secretary.- RESOLUTIONN0. PAG83083