CM-07-04-063ROUND ROCK, TEXAS
PURPOSE. PASSION. PROSPERITY.
Mayor
Nyle Maxwell
Mayor Pro -tem
Alan McGraw
CouncilMembers
RufusHoneycutt
JoeClifford
CariosT. Salinas
ScottRhode
TedWilliamson
April 20, 2007
Jay C. Hudgins
St. Germain Street Investments, Inc.
8017 Mesa Drive, Suite 102
Austin, Texas 78731
Re: Office building located at 231 E. Main St., Round Rock, Texas
Dear Mr. Hudgins,
As indicated in my letter to you dated March 19, 2007, the City of Round Rock
("City") is interested in purchasing the office building described above (the
"Property")
In order to determine the fair market value of the Property, the City engaged Jim
Boles of Summit Commercial Industrial Properties, Inc. to prepare a Broker's Price
Opinion of the Property. In the opinion of Mr. Boles, the fair market value of the
Property is $2,685,000.00.
I am prepared to recommend to the City Council that the City enter into a contract
for the purchase of the Property for that amount. Please let me know if this amount is
acceptable to you and we will begin preparing a contract for your review.
I look forward to hearing from you at your earliest convenience.
incerely,
cc:
CityManager
James R. Nuse, P.E.
City Attorney
Stephan L. Sheets
s R. Nuse, P.E.
Manager
David Kautz, Assistant City Manager/CFO
Steve Sheets, City Attorney
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CITY OF ROUND ROCK ADMINISTRATIVE DEPT., 221 EastMainStreet• RoundRock,Texas78664
Phone: 512.218.5401 • Fax:512.218.7o97•www.roundrocktexas.gov