NOTICE OF EXCHANGE OF PROPERTY AND REQUEST FOR SEALED PROPOSALS

NOTICE OF EXCHANGE OF PROPERTY AND REQUEST FOR SEALED
PROPOSALS
The City of Mineral Wells, Texas (the "City") is accepting sealed proposals for the
exchange of the following property owned by the City (the "Property"):
The East 65 feet of Lots 1 - 3, all of Lots 4 - 8, South 25 feet of Lots 9 and
10, and all of Lots 19 and 21, Block 7, Lynch Addition to the City of Mineral
Wells, Texas and known as 211 and 301 SW 1st Avenue.
The City is interested in exchanging the Property for a property of similar size located
within the area bounded by the following streets:
On the north by NW 4th Street and NE 4th Street
On the south by SW 5th Street and SE 5th Street
On the east by NE 4th Avenue and SE 4th Avenue
On the west by NW 4th Avenue and SW 4th Avenue.
To be eligible for consideration, the property offered to the City must be located entirely
within these boundaries. Property located wholly or partially outside this area will not be
considered.
Proposals should include the following information:
Name and contact information of the property owner;
Street address, legal description, and appraisal-district parcel number;
Acreage or square footage;
Proof of ownership or authority to submit the property;
Current survey or recorded plat, if available;
Description of buildings or other improvements;
Identification of liens, easements, deed restrictions, leases, or other
encumbrances;
Proposed exchange terms, including any requested cash equalization payment;
Recent appraisal, assessed value, or other evidence of value;
Disclosure of environmental conditions known to the owner; and
A statement regarding how long the offer will remain valid.
The City may evaluate proposals based on location, property size, fair market value,
configuration, accessibility, frontage, existing improvements, development potential,
environmental condition, title condition, utility availability, proposed exchange terms, and
the overall benefit of the exchange to the City. The City is not required to select the
property having the highest appraised or assessed value.
AnyproposedexchangewillbesubjecttoCityCouncilapproval,verificationofownership
and marketable title, appraisal, survey, environmental and property-condition review,
approval of the final exchange agreement and conveyance documents, and any other
due diligence required by the City. Each party will be responsible for its own costs unless
otherwise provided in the final agreement.

Any questions regarding this property may be directed to Aaron Bovos, Assistant City
Manager/Director of Finance, who can be reached at abovos@mineralwellstx.gov or
(940) 328-7000.
Sealed proposals shall be delivered or mailed to City Hall, ATTN: Finance Department,
located at 211 SW 1st Avenue, Mineral Wells, Texas, 76067 and labeled with the words
"Sealed Proposal for City Property". All sealed proposals must be received by August 31,
2026 at 1:00 p.m. Property received after this date and time will not be considered.
Proposals will be opened and read aloud at City Hall on August 31, 2026 at 1:15 p.m.
The City Council will consider awarding the proposals at the regular meeting scheduled
for 6:00 p.m. on September 15, 2026 at City Hall.
The City reserves the right to reject any or all proposals; waive informalities or minor
irregularities; request clarification or additional information; negotiate with one or more
proposers; obtain independent appraisals, surveys, title commitments, or environmental
assessments; and discontinue the exchange process at any time before execution and
delivery of final conveyance documents. No proposal will create a binding obligation on
the City unless and until the City Council approves the exchange and all required
documents are executed by the authorized parties.