In a special meeting March 29, the City of Sugar Land's SL4B Corporation board unanimously approved a budget amendment request that will allow for the $3.562 million purchase of a 6.88-acre property near the city-owned Constellation Field which the city has been leasing for overflow parking at the baseball facility.
As explained by Devon Rodriguez, the city's deputy director for economic development, the property had recently changed ownership and there was a short timeline for the city to make the purchase. The budget amendment request includes the purchase amount and 1% in closing costs.
The unpaved property in along Imperial Boulevard across from the Overture apartment complex.
Rodriguez said that in the short term, the city would continue to use the property for overflow parking for Constellation Field, but owning it would allow for future development opportunities that would enhance the area around the park.
With the purchase, the funding balance for SL4B Corporation's 2023 fiscal year would drop from $12.59 million to $8.96 million. Rodriguez said that the corporation still has development funding in reserve.
The budget amendment will next go to City Council for final approval.
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