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ACTION TAKEN: APPROVE
THAT THE DIRECTOR OF THE MASS TRANSIT DEPARTMENT BE AUTHORIZED TO NEGOTIATE, THAT THE CITY ATTORNEY OR DESIGNEE BE AUTHORIZED TO PREPARE AND REVIEW AND THAT THE CHAIRMAN OF THE MASS TRANSIT DEPARTMENT BOARD BE AUTHORIZED TO SIGN ON BEHALF OF THE CITY, A CONTRACT OF SALE BETWEEN THE CITY OF EL PASO AND THE EL PASO ELECTRIC COMPANY TO PURCHASE PROPERTY DESCRIBED AS FOLLOWS:
ALL OF BLOCK AND CLOSED STREET BETWEEN BLOCKS 99 AND 120, ALL OF BLOCK 99, AND ALL FR BLOCK 121 AND STREET BETWEEN BLOCKS 120 AND
121 AND S ½ OF THIRD ADJACENT ABOVE LESS RR, BLOCK 120, CAMPBELL; CITY OF EL PASO, EL PASO COUNTY, TEXAS; ALSO KNOWN AS, 601 SANTA FE; EXCLUDING THE TWO ELECTRICAL SUBSTATIONS AND A REAR TRANSMISSION LINE, CONTAINING 3.1475 ACRES, MORE OR LESS.
THAT THE CONTRACT SHALL OFFER JUST COMPENSATION FOR THE VALUE OF THE LAND AND RELOCATION EXPENSES IN THE AMOUNT OF TWO MILLION FIVE HUNDRED THOUSAND AND NO/100THS DOLLARS ($2,500,000.00). (ACTION 05-06) |
