RE 2011-0809.1RESOLUTION NO. 2011-0809.1
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COPPELL,
TEXAS, AUTHORIZING THE PURCHASE OF LAND DESCRIBED AS
LOTS 1 THROUGH 7, INCLUSIVE, BLOCK A, THE VILLAGES OF OLD
COPPELL FROM KOLBERG DEVELOPMENT LLC; AUTHORIZING
THE CITY MANAGER TO EXECUTE ALL DOCUMENTS NECESSARY
TO ACCOMPLISH SUCH PURCHASE; PROVIDING AN EFFECTIVE
DATE
WHEREAS, on or about December 4, 2007, Kolberg Development, LLC purchased the
property Lots 1 through 7, inclusive, Block A, the Villages of Old Coppell (hereinafter, the
"Property ") from the City Economic Development Foundation; and,
WHEREAS, said Property was sold to Kolberg in connection with future commercial
development by Kolberg in Old Towne; and
WHEREAS, Kolberg no longer desires to develop the Property and the City desires to
repurchase the same for future development in Old Towne; and
WHEREAS, after discussion and consideration, the City Council of the City of Coppell,
Texas, finds it to be in the public interest to purchase the Property and hereby authorizes the City
Manager to execute the documents necessary for such purchase;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF COPPELL, TEXAS THAT:
SECTION 1. The City shall purchase the Property described as Lots 1 through 7,
inclusive, Block A, the Villages of Old Coppell, in an amount not to exceed $818, 578.00 from
Kolberg Development, LLC, and subject to and conditioned upon the release of all restrictions
and liens; and, the City Manager is hereby authorized to execute on behalf of the City all
documents necessary to accomplish such purchase after review of the City Attorney.
SECTION 2. This Resolution shall become effective immediately from and after its
passage.
DULY RESOLVED AND ADOPTED by the City Council of the City of Coppell, Texas,
on this the day of 2011.
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TO FORM:
ROBERT E. HAGER, COY ATTORNEY
(REH /cdb)
ATTEST:
A RISTEI, PET INOS, CITY SESAETARY
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