Res 077-2021 Authorizing Sale of 7.19 Acres to OH-Wichita Falls, LLC 07/22/2021 Resolution No. 77-2021
Resolution authorizing the sale of 7.19 acres of land, identified as
Lot 1-C, Block 1 of MPEC South Addition, and Lot 1-D, Block 1 of
MPEC South Addition located in Wichita Falls, Texas, to OH-Wichita
Falls, LLC, for development, construction and operation of a full-
service convention center hotel and a future hotel for $1,879,178.00;
authorizing the City Manager to execute the Sales Contract between
the City of Wichita Falls and OH-Wichita Falls, LLC.
WHEREAS, the City of Wichita Falls desires that OH-Wichita Falls, LLC, undertake
the development of property at the site of the Multi-Purpose Events Center for a full-
service convention center hotel and a future hotel; and,
WHEREAS, the City Council has determined and found that this sale of land is for
fair market value as determined by an independent appraisal obtained by the City, as
authorized by Texas Local Government Code Chapter 272; and,
WHEREAS, the City Council finds that the 7.19 acres of land being conveyed,
identified as Lot 1-C, Block 1 of MPEC South Addition, and Lot 1-D, Block 1 of MPEC
South Addition located in Wichita Falls, Texas, is part of the Convention Center
Reinvestment Zone, which is a reinvestment zone designated as provided by law, and
that the City desires for the land to be developed by a plan adopted for the Zone; and,
WHEREAS, the City Council has determined that the conveyance of this real
property to OH-Wichita Falls, LLC for such development is in the best interests of the City,
and that such Sales Contract should be hereby approved.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
Said Sales Contract for the sale of 7.19 acres identified as Lot 1-C, Block 1 of
MPEC South Addition and Lot 1-D, Block 1 of MPEC South Addition located in Wichita
Falls, Texas, and further identified by the plat attached as Exhibit A, for $1,879,178.00
to OH-Wichita Falls, LLC, for the development, construction, and operation of a full-
service convention hotel and a future hotel is hereby approved, and the City Manager is
authorized to execute said Sales Contract and issue a Warranty Deed on behalf of the
City of Wichita Falls, with such changes as approved by the City Attorney.
PASSED AND APPROVED this the 20th day of July, 2021.
02
ATTEST: MAYOR
fqau„--
City Clerk U
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