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MVISD board approves $4.625 million purchase of 46.4 acres in Bexar County
Summary
The Medina Valley ISD Board unanimously adopted a resolution Sept. 24 authorizing purchase of roughly 46.4 acres in Bexar County from HDC Hwy 211, LLC for $4,625,000 and empowered the superintendent to execute the sale and related development agreements.
The Medina Valley Independent School District Board of Trustees voted unanimously Sept. 24 to adopt a resolution authorizing the purchase of approximately 46.4 acres in Bexar County from HDC Hwy 211, LLC for $4,625,000.00 (approximately $99,677 per acre). Trustee Blane Nash made the motion to adopt the resolution; the motion passed with all trustees voting in favor.
Under the approved resolution the board authorized the superintendent to negotiate and sign a real estate sales contract and to tender the purchase price and closing documents on behalf of the district. The board also authorized execution of a Development and Escrow Agreement for infrastructure and improvements not to exceed $2.3 million, which will be part of the closing and project planning process.
The property is described in the motion as being out of the Robert Lewis Survey No. 63, Abstract No. 422, County Block 4341, and recorded in Document Number 20240004273 of the Official Public Records of Bexar County. The minutes do not specify an intended immediate use for the parcel beyond the board action; next steps noted in the motion include contract negotiation and standard closing procedures.
