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File #: R2025-207    Version: 1
Type: Resolution Status: Consent Agenda
File created: 10/15/2025 In control: City Council
On agenda: 10/21/2025 Final action:
Title: Consider approving Resolution No. 2025-207 authorizing the City Manager to negotiate and execute agreements for the sale of certain City-owned lots to the Farmers Branch Local Government Corporation, for resale to Stonewood Investments, Inc.; and take appropriate action.
Attachments: 1. Resolution No. 2025-207, 2. Valley View Lane and I35 Conceptual Plan
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Title

Consider approving Resolution No. 2025-207 authorizing the City Manager to negotiate and execute agreements for the sale of certain City-owned lots to the Farmers Branch Local Government Corporation, for resale to Stonewood Investments, Inc.; and take appropriate action.

 

Body

REQUESTOR:

City Council

 

BACKGROUND:

Stonewood Investments, Inc. (“Stonewood”) has submitted a proposal to purchase certain City-owned real property located immediately southwest of the intersection of Valley View Lane and Denton Drive in Farmers Branch, Texas (the “Property”). Stonewood intends to develop the Property as a retail and commercial project (the “Project”) with a proposed purchase price of three million dollars ($3,000,000.00).

 

DISCUSSION:

Proposed Resolution No. 2025-207 authorizes the City Manager to negotiate, execute, and deliver all agreements and related documents as may be reasonable and necessary to facilitate the sale of the Property to the Farmers Branch Local Government Corporation (“LGC”), for the purpose of resale to Stonewood Investments, Inc. The total transaction value is three million dollars ($3,000,000.00), subject to final review and approval by the City Council.

 

The proposed structure allows the City to convey the Property to the LGC, which will subsequently transfer the Property to Stonewood for private development. This structure provides flexibility in completing the transaction while ensuring compliance with applicable legal and financial requirements.

 

The City’s authority to convey the Property in this manner is derived from Texas Local Government Code § 272.001, which authorizes a municipality to sell or otherwise convey real property to further public purposes, including economic development and revitalization, without the requirement of public auction or competitive bidding when the conveyance is made to a legally recognized local government corporation or other qualifying entity.

 

Accordingly, the proposed resolution authorizes the City Manager to:

                     Negotiate and execute the necessary agreements for the sale of the Property;

                     Take all reasonable administrative actions necessary to complete the transaction; and

                     Ensure that the conveyance complies with the terms, conditions, and intent of Texas Local Government Code § 272.001 and the City Council’s directives.

 

DISTRICT:

District 3

 

POSSIBLE COUNCIL ACTION:

1. I move to approve Resolution No. 2025-207 as presented.

2. I move to approve Resolution No. 2025-207 with modifications.

3. I move to table the issue for further study or take no action.

 

ATTACHMENT(S):

1.                     Resolution No. 2025-207

2.                     Valley View Lane and I-35 Conceptual Plan