Board Agenda - April 01, 2008

e. Declare Property at 5804 Coit Road, Units 102 and 110, Plano, as Surplus and Authorize Sale of Prope

Presenter: Richard Matkin

Purpose: A - Request decision - closure required

Time: No time limit

Description:

The District has two condo units located at 5804 Coit Road, Units 102 and 110, in the City of Plano, Texas. The condo units were part of the Child Care Facility purchased, and the administration has determined that these condo units will not be utilized by the district. The first step in this process is for the Board to approve the attached Resolution drafted by the district's legal counsel. Legal steps to sell this property are as follows:

Declare property surplus and authorize the sale
Obtain an independent appraisal
Advertise and accept bids
Board of Trustees accepts or rejects bids
Special Warranty deed drawn-up by the attorney and sent to the Commissioner of Education for approval Close on property

Resolution is attached.

Recommendation:

The administration recommends approval of the Resolution as submitted.

Business Impact:

None

Summary:

Appendix:

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