AGENDA CAPTION:
Title
A-23-03 (Premier Parkway) Hold a public hearing and consider a request by Steve Ihnen, on behalf of Blanco Trace Development, LLC, for a request to abandon a 52,272 square foot right of way described as Premier Parkway within the Champions Business Park Subdivision and located between I 35 Frontage and Post Road (C. Garrison)
Body
Meeting date: July 25, 2023
Department: Planning and Development Services
Amount & Source of Funding
Funds Required: N/A
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Funds Available: : N/A
Account Name: : N/A
Fiscal Note:
Prior Council Action: : N/A
City Council Strategic Initiative: [Please select from the dropdown menu below]
N/A
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Background Information:
Paramount Circle (43,560 square feet), Champions Boulevard (36,154.8 square feet), and Premier Parkway (52,272 square feet) to be abandoned due to Right of Way realignment and dedication through Yarrington Commons Preliminary Plat. The existing Right of Way is currently improved with existing water lines. City Staff determined that sufficient right of way is being dedicated on the preliminary plat and this roadway is no longer necessary. Per Municipal Code Section 74.089, 74.090, and 74.091, and Local Government Code Section 272.001(b)(3) if Planning and Zoning Commission and City Council approve the abandonment of the before mentioned right of ways, the applicant is required to pay the city the fair market value of the street as determined by an appraisal. With the dedication of Riverwalk Drive by Yarrington Commons Preliminary Plat, the city will gain 184,258 square feet of right of way, resulting in a net gain of 52,271.82 square feet of Right of Way. The value of Right of Way gained is equal or better than the right of way abandoned, resulting in an exchange.
Council Committee, Board/Commission Action:
N/A
Alternatives:
N/A
Recommendation:
Staff recommends approval of the street abandonment.