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Council approves PEDC purchase of 102.33 acres along Southeast Loop for $1,000,228
Summary
After an executive session under Texas Government Code §551.072, the council voted unanimously to approve the Paris Economic Development Corporation’s purchase of a 102.33-acre tract along the Southeast Loop for $1,000,228.
After convening in executive session under Texas Government Code §551.072 to deliberate the purchase, exchange or lease of real property, the Paris City Council reconvened in open session and approved a motion authorizing the Paris Economic Development Corporation (PEDC) to purchase 102.33 acres along the Southeast Loop for $1,000,228.
A councilmember moved the action in open session and a second was made; the council voted 7-0 to approve the purchase. The motion and the vote followed the executive-session deliberation; no substantive terms beyond acreage and purchase price were discussed in open session.
(Ending) The council did not read additional details into the record during open session; city staff will proceed with the transaction steps authorized by the council and any additional disclosures required by law will follow as the transaction moves to closing.
