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Lockhart approves $1.75 million purchase of former theater for indoor recreation center
Summary
The City Council approved purchase of a 13,293 sq. ft. theater at 120 W. MLK Jr. Industrial Blvd. for $1.75 million to convert into an indoor recreation center; staff will pursue design, funding and a timetable for retrofit and operation.
Lockhart City Council voted on March 18 to approve a real estate sales contract to acquire a former theater at 120 West MLK Jr. Industrial Boulevard for $1,750,000 and to authorize estimated closing costs of $10,000, with the intent to convert the property into an indoor recreation center identified in the city's parks, recreation and open-space master plan.
Assistant City Manager Joseph Rezendes summarized the acquisition process: the property was listed at $2,600,000, appraised at $1,650,000 and negotiated to a $1,750,000 purchase price. The building is roughly 13,293 square feet, has about 24-foot interior ceilings (suitable for court sports), and sits on slightly more than two acres with roughly 104 parking spaces and…
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