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Title
Resolution authorizing the City accept the offer by the Texas Department of Transportation (TxDOT) to purchase 23.3216 acres of surplus right of way located on the north side of IH 30 and east of Belt Line Road (this item is a companion item with Agenda No. 15-4596)
Presenter
Bill Crolley, Director of Planning and Development
Recommended Action
Approve
Analysis
In a letter dated March 30, 2015, the Texas Department of Transportation has offered to sell 23.3216 acres to the City for the appraised value of $230,000 plus appraisal and surveying fees of $21,650.76, totaling $251,650.76. In order to accept this offer, the City must pass a resolution agreeing to pay the offer amount plus fees. The offer amount is in line with previous appraisals prepared for the City.
This property formerly served as the entrance/exit ramp for the IH 30/ Belt Line Road interchange when IH 30 was the Dallas-Fort Worth Turnpike. The interchange was re-designed later and the subject property is now vacant except for some remnants of the old turnpike.
The property is located at the gateway to the entertainment district and on the east side of the proposed Palace Parkway Extension. Acquisition of this tract will allow the City to better facilitate assembly and a more master planned approach to the development of the Beltline Road and I-30 intersection. This property would aid in the future development of appropriate commercial activities for the entertainment district.
The City has been in discussions with TxDOT at various times throughout the years since 2004 about acquiring this property. TxDOT finally determined this tract was surplus to their current and future needs. The property is offered to the City first in order of priority rights to purchase this property. If the City does not purchase, it will be offered to the general public.
Passage of this resolution is required by TxDOT to make an official and binding acceptance by the City. It will provide TxDOT the required authorization to proceed with this sale to the City. From a timeline standpoint, TxDOT will place the minute order on the May 28th Transportation Commission agenda for consideration. Conveyance of this property will be by Deed Without Warranty. Closing and funding by the City will be between September 1 and September 15, 2015.
Financial Consideration
No funding is required for approval of this resolution for City's acceptance of the TxDOT offer.
Body
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS, AUTHORIZING THE PURCHASE OF 23.3216 ACRES OF SURPLUS TEXAS DEPARTMENT OF TRANSPORTATION RIGHT OF WAY LOCATED ON IH 30 AND BELT LINE ROAD; AUTHORIZING THE CITY MANAGER OR HIS DELEGATE TO ENTER INTO AND SIGN ANY REQUIRED DOCUMENTS FOR PURCHASE; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the 23.3216 acres of surplus right of way located on the north side of IH 30 and east of Belt Line Road, Grand Prairie, Dallas County, Texas, has been offered to the City by the Texas Department of Transportation (TxDOT); and
WHEREAS, an offer to sell this surplus right of way to the City for the appraised value of $230,000 plus appraisal and surveying fees of $21,650.76, totaling $251,650.76 ; and
WHEREAS, this purchase amount is fair, reasonable and represents fair market value of this property;
WHEREAS, the City Council of the City of Grand Prairie desires to purchase and authorize the purchase of this property. ;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS:
SECTION 1: That the City of Grand Prairie hereby concurs in and authorizes the purchase of 23.3216 acres of surplus right of way located on the north side of IH 30 and east of Belt Line Road, Grand Prairie, Dallas County, Texas.
SECTION 2: That the City of Grand Prairie does hereby consent to the purchase of said property.
SECTION 3: That the City Manager or his delegate is hereby authorized to sign any documents related to the purchase as required to complete the purchase from TxDOT.
SECTION 4: That this resolution shall become effective immediately upon its passage and approval.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS, ON THIS THE 5TH DAY OF MAY, 2015.