CITY OF A FOUNDED 1839 Austin City Council MINUTES For SPECIAL CALLED July 26, 1984 - 10:00 Α.Μ. City Council Ron Mullen Mayor John Treviño, Jr. Mayor Pro Tem Council Members Mark Rose Roger Duncan Sally Shipman Mark E. Spaeth Charles E. Urdy Jorge Carrasco City Manager Elden Aldridge City Clerk Council Chambers, 307 West Second Street, Austin, Texas Memorandum To: Mayor Mullen called to order the Special Called Meeting of the Council scheduled for 10:00 a.m., noting the presence of all Councilmembers. Council had before them for consideration two ordinances: (1) Consider approval of the 1984-90 Capital Improvements Program, and (2) Consider setting the ballot for the September 8, 1984 Bond Election. No action was taken on either ordinance and the Mayor indicated there will be a discussion on these on Monday, July 30, 1984 at 4:00 p.m. Council did discuss the possibility of buying some land in the Barton Creek area adjacent to Zilker Park for protection of the park. Transwestern plans to build an office complex on the land, but will sell Lots 1 and 2 for $42-million; and lot 3 for $2,725,000. Discussion of the land, the price, and the irritation of the Council over the price followed. Robert Duncan, representing Transwestern, said they have spent a lot of money on development and pre-leasing with contracts and have set in motion the plans for a hotel. Councilmember Spaeth said Transwestern sends a message, by the price, that they do not want to sell the land. He said they will take the money and make more but a lasting environmental problem may be caused for the City. Mr. Duncan said they will sit down with City land appraisers re the price but future profits will be taken into consideration in setting the price. Mayor Mullen said the appraised price will determine what Council does on the bond election. ADJOURNMENT Council adjourned its special called meeting at C 12:05 p.m.