Plainview OKs Chapter 380 sale of downtown building to West Texas Federal Credit Union with staffing and reporting conditions

Interim City Manager Johnston presented a purchase-and-service agreement and a Chapter 380 economic development agreement proposing sale of the city's former finance/utility building at 121 W. 7th St. to West Texas Federal Credit Union. Johnston said the building, which previously housed utility-payment services, has been vacant since city departments consolidated at the remodeled city hall, and staff recommended approval to return the property to the tax roll and stimulate downtown activity.

Johnston explained the statutory basis cited in the presentation: Chapter 380 of the Texas Local Government Code (authorizing economic-development programs), section 253.0125 of the Texas Local Government Code (permitting transfer of real property in exchange for public-purpose uses), and Article 3, Chapter 52A of the Texas Constitution. He said staff believes a downtown credit-union branch would reduce underemployment, infuse dollars into the local economy and encourage additional downtown development.

The agreement includes four binding stipulations for West Texas Federal Credit Union: (1) within 12 months of closing the credit union must substantially complete construction, renovation and installation of improvements necessary to operate the branch and must obtain a certificate of occupancy or a favorable inspection permitting operation; (2) within 12 months of substantial completion West Texas Federal Credit Union must employ no fewer than three full-time employees at the branch (defined in the agreement as employees who work 1,820 hours per year); (3) the credit union must provide timely reports verifying completion and staffing; and (4) within 30 days of each anniversary of the effective date for three years the credit union must provide Plainview a detailed employment report for employees engaged in branch operations, including names, start dates, hours worked and any requested identifying information.

Council Member McDonough moved to approve the purchase-and-service agreement and the economic development agreement and Council Member Dickerson seconded. A council member noted the credit union's current location is smaller. The clerk recorded a vote announced in the record as "we have a vote of 74"; the transcript does not include a detailed roll-call tally. Staff recommended approval and the council adopted the agreement as presented.