HomeMy WebLinkAboutRES 112514-E - Land Exchange AgmtRESOLUTIONNO. 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
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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.
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RESOLUTIONN0. PAG83083