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EDC votes to sell Hackberry property to the City of Bandera for a nominal fee
Summary
The Bandera EDC voted to transfer its Hackberry property to the City of Bandera for a nominal fee (discussed as $1) after considering sale and long-term lease options for EDC-owned land.
The board discussed sale versus long-term lease options for two EDC-owned properties. Staff and board members explored municipal uses, commercial leases for portions of property and the possibility of generating ongoing revenue for the EDC if portions were leased.
After discussion, a motion was made to sell the Hackberry property to the City of Bandera for a nominal fee. During the exchange a board member proposed "a dollar" as the nominal fee and the motion was seconded and carried. The board asked staff to draft the necessary sale documents and to return them for completion.
The board directed staff to also draft options for long-term leases or sales for the other property (Buck Creek/Button Creek) so the board can weigh revenue and municipal-use scenarios.
