HomeMy WebLinkAboutIR 6984 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 6984
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�oEfORr�o To the Mayor and Members of the City Council November 6, 1984
'f` xTexPy' Subject: City Owned Property on Meadowbrook Drive
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The City Council , on October 28, 1980, authorized the purchase of
11.75 acres in the 5700 block of Meadowbrook Drive. The land was
considered as a possible site for assisted housing units. The cost
of the land was $245,000 and was paid for with Community Develop-
ment Block Grant (CDBG) funds.
At the present time, it is not likely that funds will become avail-
able in the near future for the construction of assisted housing
units. Several prospective buyers have inquired about the possible
sale of the Meadowbrook site by the City. Because funds for new
construction of housing units are not expected to be available in
the near future, staff favors selling this property and using the
proceeds to fund Community Development activities.
If the City Council concurs with staff's recommendation, the Depart-
ment of Real Property will be instructed to obtain an appraisal and
begin the procedures to sell the Meadowbrook site.
If the City Council desires, deed restrictions could be placed on
the property limiting the future use of this land.
Unless otherwise directed the staff will
proceed to obtain an
appraisal and sell this property.
If additional information is needed, it will be furnished upon request.
Robert L. Herchert
City Manager
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ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS