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05/31/2011-4B-Agenda Packet-Regular• 4B AGENDA SANGER, TEXAS DEVELOPMENT CORPORATION TUESDAY, MAY 31, 2011 6:00 P.M. 502 ELM STREET 1. Call Meeting to Order. 2. Approve Minutes: May 18, 2011 3. Consider, Discuss and Possibly Act on Purchase and Method of Financing for the Millar Property and authorize the City Manager to complete purchase. 4. Adjourn. This facility is wheelchair accessible and accessible parking spaces are available. Requests for accommodations or interpretive services must be made 48 hours prior to this meeting. Please contact the City Secretary's office at (940) 458-7930 for further information . MINUTES: 4B SANGER, TEXAS DEVELOPMENT CORPORATION May 18, 2011 MEMBERS PRESENT: OTHERS PRESENT: Beverly Howard, Christy Crutsinger, Jeff Springer, Beverly Branch, Will Dutton, Barbara Martin, John Payne City Manager Mike Brice, Cheryl Price, Administrative Assistant 1. Call Meeting to Order. President Payne called meeting to order. 2. · Approve Minutes: March 28, 2011 Motion was made by Beverly Howard to approve minutes as presented. Motion was seconded by Beverly Branch. Motion carried unanimously. 3. Consider, Discuss and Possibly Act on Purchasing Property for Future Park improvements. City Manager summarized that Frank Millar died and his widow is motivated to sell the property which is located across the freeway from the Sports Park and she is asking around $750,000. Frank would not take less than $1,000,000. City Manager reminded the Board Members that when they were looking for a place for the sports park this property was considered one of the best locations, but they could not purchase it for a fair price from Frank. He summarized the property amenities noting the property was ~currently zoned "A" Agricultural. There is a 2800 s.f. house, two barns and a shed on the upper part of the property which was currently leased ou~ until March 2012. City Manager noted the lower section of the property consisting of about 50-55 acres would be excellent location for future park area for the City, being located directly across the freeway from the Sports Park. It was noted the sports park consisted of approximately 40-45 Acres. City Manager noted it would be an excellent location for a splash park. Other uses suggested were a skate park and additional sports fields. City Manager provided the Board with some scenarios for how they could fund the purchase of the property. There was discussion among board members regarding the concern of what the city would be able to do with the upper portion of the property. Also the funding of $750,000 would basically deplete the 4B funds for a considerable amount of time. After deliberation consensus was reached that the lower portion of the property would be a good investment for the City's future park land development. A motion was made by Jeff Springer to allow the City to pursue negotiations to purchase of the bottom portion of the property for no more than $6,000 per acre. The motion was seconded by Beverly Branch. The motion carried unanimously. 4. Project Update: a) Sports Complex City Manager noted they were working on the concrete flatwork and would soon start pouring the common areas. They should begin pouring the parking lot in June. There was some discussion regarding the pond and the fact that it was not holding water well. City Manager advised that they would find a solution. 5. Review Financials. City Manager went over the financials and noted that the sales tax is·still remaining up from last year at this time, and seems to be on the rebound. 5. Adjourn. There being no further business a motion was made by Will Dutton to adjourn. Motion was seconded by Jeff Springer. 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