08-9-90-6 - Resolution - 08/09/1990RESOLUTION NO. 8-9-90-6
WHEREAS, COLLEGE STATION VENTURE I desires to pur-
chase the property known as Westchester Park Subdivi-
sion from Peoples Mortgage Company of Llano Texas;
WHEREAS, on July 19, 1988 Peoples Mortgage Company
of Llano Texas entered into a development agreement
with the City of College Station and the College
Station Independent School District for the sale of
property to both CITY and CSISD;
WHEREAS, that agreement required PEOPLES to com-
mence construction of Rock Prairie Road and Welsh
Street through Phase II of the Westchester Park Subdiv-
sion within twelve weeks (12) of the conveyance of the
property;
WHEREAS, a portion of the property was conveyed on
July 19, 1990 to CSISD and CITY;
WHEREAS, the construction of those roads has not
commenced to date;
WHEREAS, PEOPLES desires to sell the property to
COLLEGE STATION VENTURE I;
WHEREAS, COLLEGE STATION VENTURE I desires to pur-
chase the Westchester Park Subdivision from PEOPLES;
WHEREAS, COLLEGE STATION VENTURE I desires to
assume the rights and responsibilities of PEOPLES under
the agreement;
WHEREAS, PEOPLES seeks approval of the assignment
herein of its interest in the July 19, 1988 Development
Agreement;
WHEREAS, COLLEGE STATION VENTURE I has requested
that the City Council give it an opportunity to com-
plete the construction of Welsh Street and Rock Prairie
Road in the Westchester Park Subdivision;
WHEREAS, COLLEGE ~TATION VENTURE I represents that
PEOPLES has authorized the assignment of its interests
in the July 19, 1990 Development Agreement executed by
it with CSISD and CITY; and
WHEREAS, the City Council is concerned about the
timely construction of Welsh Street for the support of
the neighborhood use;
NOW THEREFORE BE IT RESOLVED, that the Mayor is
authorized to enter into the addendum authorizing the
assignment of the rights and obligations of PEOPLES to
COLLEGE STATION VENTURE I for the completion of Welsh
Street and Rock Prairie Road through Westchester Park
Subdivision.
SIGNED THIS THE 9th DAY OF August , 1990.
ATTEST:
CONNIE HOOKS '
CITY SECRETARY