Collin College board of trustees votes 7-1 to buy land in Allen for $10.7 million

0

The Collin College board of trustees voted 7-1 Tuesday night to purchase 32 acres of land in Allen for $10.7 million.

At a meeting in October, the board gave Collin College President Neil Matkin the authority to negotiate and execute a contract to buy land for future district instructional and support facilities.

Matkin executed a contract with MeadowRoad/Ford LP for the 32 acres of land near the intersection of SH 121 and Alma Road in Allen for $10.7 million. The college plans to build a technical training center, which is part of the $600 million bond package that will come before voters in May.

The contract allows the college a 90-day period for research on the property, which ends May 17. Closing on the property is expected to be around June 17.

Trustee Mac Hendricks, who opposed the measure, initially made a motion to add an amendment that would allow Matkin to opt out of the contract if the bond package is unsuccessful in May.

Hendricks said the time between the bond election and the end of the 90-day period are so close that he does not want to risk the college losing money on a project that may or may not happen.

However, his motion was voted down 6-2 with some trustees saying that no matter the outcome of the bond election, Collin College must move forward.

“Whether the bond passes or not, we will be moving forward with the master plan,” trustee Adrian Rodriguez said. “It may take a little longer, but I think we need to be moving forward and it is essential given the kind of input we’ve had from our corporate partners that [we should have]this land for the technical center.”

The $600 million bond election will be held May 6. Early voting run from April 24-May 2. For polling locations, click here.

COMMENT

Leave A Reply

Back to top