Min 09/10/1991 770
Wichita Falls, Texas
Memorial Auditorium Building
September 10, 1991
Item 1
The City Council of the City of Wichita Falls, Texas, met
in called session on the above date in the Council Room of the
Memorial Auditorium Building at 2 : 00 o 'clock p.m. , with the
following members present.
Michael Lam - Mayor
David Farabee -
Terrance E. Loughry -
Angus Thompson - Councilors
Paul Hughes -
J. W. Martin -
Don Kirkham -
James Berzina - City Manager
Gregory Humbach - City Attorney
Wilma J. Thomas - City Clerk
Item 2
RESOLUTION NO. 152-91
RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A
LEASE-PURCHASE AGREEMENT ON THE FORMER SEARS BUILDING
AT 1000 SCOTT STREET
Moved by Councilor Thompson that Resolution No. 152-91 be
passed.
Motion seconded by Councilor Hughes.
Mayor Lam noted that about a year and a half ago the
Council thought it would be in the best interest of the City and
the downtown area to acquire the Sears Building for future use.
It was the hope that we could find another retailer to use this
building, or that it could be used for other purposes. About a
month and a half ago they received a proposal to occupy this
building. They asked for bids and received one bid. They have
been in negotiations on a one-to-one basis. We now have a
lease/purchase agreement that we feel is in the best interest to
the City.
Councilor Thompson favored the agreement, and asked about
tax abatement which was mentioned. Mr. Berzina explained that
there are no commitments to it, but if it becomes available the
City would not stand in their way. Abatement cannot be made
lower than the assessed value only on the amount of
improvements.
Councilor Kirkham inquired about the time frame when they
will be open for business. Mr. Berzina explained it will be
sometime before the first of the year. An ending time is
recommended to be inserted in the lease. Payment of utilities
will begin from the date of execution of the lease.
Moved by Councilor Hughes that the contract be amended in
Paragraph Three to state that rent shall not commence until the
date Lessee opens for public business on the premises, or March
10, 1992 , whichever occurs first, and in Paragraph Five to state
that Lessee shall pay all utility charges on the premises from
the date of execution of this lease through the term of this
lease.
Motion seconded by Councilor Farabee, and carried
unanimously.
771
Item 2 , cont'd.
Various council members made positive comments concerning
this transaction, with Mayor Lam noting it is a satisfying
feeling to purchase this building with something in mind, and to
accomplish that aim.
The motion, as amended, to pass the resolution carried by
the following vote.
Ayes: Mayor Lam, Councilors Farabee, Loughry, Thompson,
Hughes, Martin, and Kirkham
Nays: None
The City Council adjourned at 2 : 26 p.m.
PASSED AND APPROVED this the day of ,
1991 .
Michael Lam, Mayor
ATTEST:
Wilma J. T omas, CMC/AAE
City Clerk