HomeMy WebLinkAboutResolution - 121274I - Land Acquisition - LBK Poster Company - Canyon Lakes Project - 12_12_1974JWF:dw ZZIZ a
RESOLUTION
WHEREAS, it has been determined that the Canyon Lakes Area within
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the City of Lubbock, Lubbock County, Texas, should be developed for public
open space called the Canyon Lakes Project; and,
WHEREAS, the Department of Housing and Urban Development (HUD)
United States Government, has contracted with the City for matching funds
to aid in the development of said Project; and,
WHEREAS, it is necessary to acquire for the Canyon Lakes Project
the possessory and use rights for three poster board advertising signs
sites located within the Project Area from the owners thereof, to -wit:
Lubbock Poster Company, a partnership composed of Iva Edington, a femme
sole, and Homer L. Hensley; and,
WHEREAS, the City Council has caused two appraisals to be made of
said owner's rights, title, and interest with respect to said three poster
boars sign sites; and,
WHEREAS, after said appraisals were considered, and the City has
determined the price to be offered fair and equitable; NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1. THAT the City of Lubbock acquire for the purpose of
developing public open space described as the Canyon Lakes Project, all
the right, title and interest of Iva Edington and Homer L. Hensley, dba
Lubbock Poster Company, a Partnership (as owners) to possessory rights
respecting 3 outdoor advertising poster board sign sites, two of which sites
are located at or near the North Side of East Ninetbenth Street and the other
site which is located at or near the North Side of East Broadway, all of
said sites being in said Canyon Lakes Project Area. -
SECTION 2. THAT said owners be offered fair market 'value comp-
ensation for all their said right, title, and interests in said sites, in the
amount of $7, 523. 00, and allowed to remove their 3 poster board signs as
personal property of said owners for a reduction in compensation to them
of $233:`04, which this City Council finds to be fair and reasonable. Said
offer is to be formalized in writing and spread upon the minutes of this
-City CoundR,-,. and when executed by the Mayor of the City of Lubbock and
said owners, '-shall evidence such offer and acceptance and conveyance of
'interests by, said owners in the premises; the owners having previously
orally indicates} their willingness to the acceptance of such offer.
Passed by the City Council this 12tQa _ December , 1974.
R Y BASS MAYOR
ATTEST: . pp,,-ov^ l a/a7 to f rm:
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Treva Phillips, Cit Psecretary-Treasurer Fled 0. Senter, Jr., Ci.;