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Meeting Date:	04/22/2024
Purchase and Sale Agreement with Fesco Ltd. for purchase of four tracts of land together with any improvements located in the Fesco Business Park subdivision.
Submitted for:	Fortunato Paredes	Submitted By:	Fortunato Paredes
Department:	Civil Legal Division

Subject:

Discussion and possible action to enter into a Purchase and Sale Agreement with Fesco Ltd. for the purchase of four (4) tracts of land together with any improvements located in the Fesco Business Park Subdivision (Property ID Nos. 365118, 365119, 365114 & 207222) Laredo, Webb County, Texas in the amount of Eight Million One Hundred Twenty-Five Thousand Dollars ($8,125,000.00), submission of Seventy-Five Thousand ($75,0000.00) in earnest money to Laredo Title & Abstract to act as escrow agent to the transaction and any other matters incident thereto; authorizing the County Judge to execute all relevant documents. [Closed Meeting/Executive Session may be requested pursuant to Texas Government Code, Title 5, Subchapter D, Section 551.072 (Deliberations regarding purchase of Real Property)] [Funding Source #1001-1130-001-470000 (Capital Outlay)]

Background:

Issue: Webb County is seeking real estate to address the expansion needs of various county departments.

Solutons: Real Estate Properties being offered by Fesco Ltd. meet the needs of Webb County.

Result: Webb County acquires real properties to address the county's needs for property space.

Previous Court Action:

None

Fiscal Impact

Budget Account Number:	n/a
Funding Source:	General Fund
Balance:	n/a
Financial Impact:
$8,125,000.00

Attachments
Purchase and Sale Agreement