HomeMy WebLinkAboutResolution - 1120 - Approve Sale & Transfer - B.R. Wilder To J.Q. Hammons - Lot 1 Blk 6, MC Addition - 06/10/19821-1
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RESOLUTION 1120 - 6/10/82
RESOLUTION APPROVING THE SALE AND TRANSFER OF OWNERSHIP OF THE LAND AND IM-
PROVEMENTS LOCATED ON LOT ONE (1), BLOCK SIX (6), MEMORIAL CENTER ADDITION TO
THE CITY OF LUBBOCK, LUBBOCK COUNTY, TEXAS, FROM BILLY RAY WILDER TO JOHN Q.
HAMMONS.
WHEREAS, on the 10th day of August, 1978, the City Council approved the
price and conditions for the sale of. Lot 1, Block 6, Memorial Center Addition
to the City of Lubbock, Lubbock County, Texas, known and designated as Land
Disposition parcel Number 10-1, by the Urban Renewal Agency of the City of
Lubbock to Billy Ray Wilder; and
WHEREAS, the Urban Renewal Agency sold said property to Mr. Wilder who has
partially completed the redevelopment of said property with the construction of
the Holiday Inn; and
WHEREAS, Bill Ray Wilder desires to sell and/or transfer the land and im-
provements on said property to John Q. Hammons; and
WHEREAS, the Urban Renewal Law of the State of Texas provides that such
conveyance by a developer may be made prior to the completion of improvements
provided that such sale or transfer does not relieve the original developer
from the obligation of completion of the development of the area of the land
that he had purchased; and
WHEREAS, the contract and deed provide that the original developer shall
have no power to convey the property prior to the Agency's certification that
all the improvements are complete without the written consent of the Agency;
and
WHEREAS, the Agency has checked the qualifications and the ability of
John Q..Hammons to complete the redevelopment and finds him qualified in all
respects to complete the improvements and has approved the proposed sale and/or
transfer; and
WHEREAS, John Q. Hammons will assume responsiblity for the completion of
the improvements in accordance with plans approved by the Urban Renewal Board
of Commissioners; and
WHEREAS, in the event that John Q. Hammons fails to complete the improve-
ments and thereby defaults on his contractual obligation, Billy Ray Wilder
will be obligated to complete the improvements in accordance with the contract
and deed conveying the land to him; NOW -THEREFORE:
BE IT -RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the proposed sale and/or transfer of the land and improvements on
1, Block 6, Memorial Center Addition to the City of Lubbock, Lubbock
County, Texas from Billy Ray Wilder to John Q. Hammons be and is hereby
approved.
Passed by the City Council this loth day of June 1982.
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BILL McALISTER, MAYOR
ATTEST:
Evelyn Gaf ga, City S 'c -Treasurer
APPROVED AS`.:TO CONTENT:
Richard Mays, Community Development Coordinator
APPROVED AS -'TO FORM:
J a M. Sherwin, Assistant City Attorney