From
Dwayne Tyner
Title
Right-of-Way Acquisition for Cottonwood Creek Drainage Improvement Project, Robinson Road at Marshall Drive, 1.850 acres for $40,287 from Texas Midstream
Presenter
Romin Khavari, City Engineer
Recommended Action
Approve
Analysis
This drainage improvement project was approved as part of the Capital Improvement Projects Budget FY 2016/2017.
This entire property (See Exhibit “B” for location) is required for the Cottonwood Creek culvert improvements at Marshall Drive and Robinson Road. This item authorizes the City Manager to execute the necessary documents for acquisition of this property.
The owner, Texas Midstream Stream has agreed to sell the whole property containing 1.850 acres (80,573 s.f.) for $40, 287 (See Exhibit “B” for property description). This amount is the appraised value of the property determined by an independent fee appraiser. Texas Midstream will pay for owner’s title insurance policy, surveying costs and property taxes up to date of closing. Closing costs will be divided evenly.
Financial Consideration
Funding for the Right of Way Acquisition - Cottonwood Creek Drainage Improvement Project, Robinson Road at Marshall Drive, in the amount not to exceed $44,000 is available in the Storm Drainage Capital Projects Fund (401592) WO #01506003 (Marshall & Robinson @ Cottonwood Crk).