AGENDA CAPTION:
Title
Consider approval of Resolution 2018-152R, approving a contract with the Texas Realty Retail Partners, Inc. for the City to purchase approximately 27.094 acres of land located on the South Side of Farris Street near its intersection with Wilson Street for a price of $475,000.00 for stormwater drainage and possible greenway and open space purposes; authorizing the City Manager to execute said contract and related closing documents on behalf of the City; and declaring an effective date.
Body
Meeting date: August 7, 2018
Department: Engineering/CIP
Amount & Source of Funding
Funds Required: $475,000
Account Number: C684
Funds Available: $1,000,000
Account Name: Land for Future Stormwater Imp
Fiscal Note:
Prior Council Action: Dec 5, 2017 Council Workshop on conservation priority parcels
City Council Strategic Initiative:
Stormwater
Comprehensive Plan Element (s):
? Economic Development - Choose an item.
? Environment & Resource Protection - Population Prepared for and resilient to Man-Made & Natural Disasters
? Land Use - Choose an item.
? Neighborhoods & Housing - Choose an item.
? Parks, Public Spaces & Facilities - Collection of connected and easily navigated parks and public spaces
? Transportation - Multimodal transportaion network to improve accessibility and mobility, minimize congestion and reduce pollution
Master Plan: Stormwater Master Plan
Background Information:
This action will authorize the City Manager to the purchase approximately 27 acres of property along Purgatory Creek from Texas Realty Retail Partners, Inc. This parcel is one identified in the High Priority Conservation Areas through the flood mitigation property prioritization process in late 2017.
The site will be used as part of the proposed Purgatory Creek Improvement project and is also an alignment for a greenway trail as identified in the Transportation Master Plan. The purchase price of $475,000 is less than the appraised value as obtained and...
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