From
Dwayne Tyner
Title
Authorize and confirm the purchase of a 12.066-acre tract of land located at 2700 Kingswood Blvd. from Gra-Son Land, Inc. for $105,115
Presenter
Gabe Johnson, Director of Public Works
Recommended Action
Approve
Analysis
This tract is surrounded by City-owned property. Fish Creek Linear Park is across the creek. Access to the City’s property where the water and wastewater lines are being subjected to erosion is very limited because of the erosion and elevation changes. The erosion has resulted in at least a 20-foot cliff from the top of the City’s property to the creek. Workers and equipment cannot go up that 20-foot cliff from the creek without risking additional damage to the creek bank and infrastructure.
This tract will also provide access and a staging area to the creek area to study for survey, design, and construction of a stream bank protection solution for the City’s infrastructure along Fish Creek north of King Harbor Court. So, accessing the stream protection project location from the City’s park across the creek is not feasible.
This tract (as shown in Exhibit “A” for location) adjoins Fish Creek Linear Park. It is surrounded by City-owned property. City water and wastewater lines are located around the perimeter of the tract.
The property owner, Gra-Son Land, Inc., a Texas corporation, has agreed to sell the whole property containing 12.066-acres (525,574 s.f.) for $105,115. This is the appraised market value as determined by an independent fee appraisal. Gra-Son Land, Inc. will pay property taxes up to date of closing. Property taxes will be suspended at that time.
Estimated date of closing is April 3, 2020. The City is responsible for surveying the tract and paying all closing costs.
Financial Consideration
Funding in the not to exceed amount of $110,000 is available as follows:
1. $55,000 is available in Water Capital Projects Fund (500592) WO #02009703 (Fish Creek Bank Stabilz WTER
2. $55,000 ...
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