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Title
Acquisition of one Slope Easement and one Drainage Easement - West Tarrant Road at Arbor Creek, for an amount not to exceed $94,300
Presenter
Romin Khavari, City Engineer
Recommended Action
Approve
Analysis
The two easements were approved for acquisition by negotiation or condemnation on the June 5, 2018, City Council Agenda (see Exhibit “A” for property descriptions). The property owner has subsequently agreed to sell the slope easement containing 0.0326 (1,421s.f) and drainage easement containing 0.4639 (20,207s.f.) along with improvements located on the easements for $91,512. This settlement amount is reasonable considering appraised value, time and court costs. The City will pay all title insurance expenses and closing costs.
Financial Consideration
Funds in the not to exceed amount of $94,300 are available in Storm Drainage Capital Project Fund (401592) W.O. 612.45 (Arbor Creek at Tarrant Road)