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Commission authorizes amendment allowing purchaser to sell Xcel substation parcel directly to Xcel Energy
Summary
After executive session, the commission authorized the City Manager to sign Amendment No. 2 to the Commercial Real Estate Purchase and Sale Agreement with Sad Monkey Development, removing subparagraph G of Amendment No. 1 and permitting the purchaser to sell the tract for an Xcel substation directly to Xcel Energy.
The City Commission returned from executive session and authorized the City Manager to sign Amendment No. 2 to the Commercial Real Estate Purchase and Sale Agreement with Sad Monkey Development. The amendment removes subparagraph G from Amendment No. 1 and allows the purchaser to sell the land for an Xcel substation directly to Xcel Energy rather than requiring the tract to be retained by the City at closing, according to the action taken on April 7.
Commissioner Danny Potter moved and Commissioner Paul Lyons seconded the motion to authorize the City Manager to execute the amendment; the motion carried unanimously. The action follows deliberations held in executive session under Texas Government Code §§551.071, 551.072 and 551.087 earlier in the meeting.
