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MEDC approves $230,000 purchase of 0.2458-acre parcel in Montgomery Town Site 03
Summary
The MEDC approved a resolution to purchase 0.2458 acres at Montgomery Town Site 03, Block 16 for $230,000; staff said surplus funds cover the purchase and a budget amendment will be returned if necessary.
The Montgomery Economic Development Corporation on July 15 approved a resolution authorizing a $230,000 purchase of 0.2458 acres located at Montgomery Town Site 03, Block 16 in Montgomery County, Texas. The board voted in favor and will forward the resolution to city council for final consideration.
Staff told the board the MEDC has surplus funds and expects a projected surplus in the current fiscal year; accordingly, a budget amendment would be filed later only if needed. Members discussed the timing for council consideration and the resolution was identified in the meeting record as proposed resolution 2025-02.
A motion to accept the resolution was made and the board recorded a majority voice vote in favor. Staff indicated the item will be submitted to the city council agenda for the July 22 meeting. The board did not record any amendments to the purchase terms during the meeting.
