City of Borger City Council Meeting Minutes 2026-05-19
Option to Purchase Agreement for Industrial Park Lots
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Description
The City Council approved an Option to Purchase Agreement granting Twelve Benefit Corporation the exclusive right to buy specified lots from the Economic Development Corporation for up to $2,500,000. The agreement allows a six-month option term and possible extensions.
Contract Details
Contract Amount
$2,500,000.00 (if option exercised)
Vendor
TWELVE BENEFIT CORPORATION
Agency
City of Borger, TX
Contract Type
OTHER
Document Date
May 19, 2026
Contract Term
Six-month initial term with two six-month extension options
Renewal Date
2027-05-19
Renewal Info
Buyer has two six-month extension options beyond initial six-month option term.
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