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2016-08-02 LGC Minutes Minutes FARMERS BRANCH LOCAL GOVERNMENT CORPORATION A Texas Nonprofit Local Government Corporation Meeting of the Board of Directors August 2, 2016—2:30pm City Manager's Conference Room Farmers Branch City Hall 13000 William Dodson Parkway Farmers Branch, Texas 75234 The following members of the Farmers Branch Local Government Corporation (FBLGC) were present: Steve Parker, Secretary Harold Froehlich Pam DeHon Mayor Bob Phelps John Land City administration present: Stephanie Hall, Administrative Assistant II Pete Smith, Attorney Charles Cox, City Manager Allison Cook, Economic Development Director Agenda Item No. 1 Call to Order. Bob Phelps called the meeting to order at 2:30 pm and stated that a quorum was present. Agenda Item No. 2 Approval of the Minutes of the Farmers Branch Local Government Corporation (FBLGC) meeting of July 12, 2016. A motion was made by Harold Froehlich and seconded by Charles Cox to approve the minutes of the July 12, 2016 Fanners Branch Local Government Corporation meeting. With all members voting "aye", the motion passed unanimously. Agenda Item No. 3 1. Discuss and consider authorizing the negotiation and execution of agreements to purchase from the City of Fanners Branch and sell to Omar Garcia and wife, Olivia Garcia, the property described as Lot 1, Block 7, Johnston Park Addition, First Installment, City of Farmers Branch, Texas, more commonly known as 3107 Longmeade. 2. John Land states that asking price was listed as $105,000 for Lot 1, Block 7, Johnston Park Addition, First Installment, City of Farmers Branch, Texas, (also known as 3107 Longmeade). An offer of$98,500 was made by Omar Garcia and this was deemed a fair offer and thus, accepted. 3. City Attorney Pete Smith answers questions regarding taxable land value and home value posed by Harold Froehlich. 4. A motion was made by Pain DeHon and seconded by Harold Froehlich to authorize the Corporation treasurer to negotiate and any officer to execute agreements to purchase from the City of Farmers Branch and sell to Omar Garcia and wife, Olivia Garcia, the property described as Lot 1, Block 7, Johnston Park Addition, First Installment, City of Farmers Branch, Texas, (also known as 3107 Longmeade) subject to a restriction agreement as required by the City, and to sign such other documents as such officers, in consultation with the Corporation's attorney, deem reasonable and necessary with respect to closing these transactions. With all members voting "aye", the motion passed unanimously. Agenda Item No. 4 Adjournment A motion was made by Steve Parker and seconded by Charles Cox to adjourn the meeting of the Farmers Branch Local Government Corporation at 2:36pm. With all members voting "aye", the motion carried unanimously. 7? (-i? IIW, Bob Phelps, President Steve Parker, Secretary