City of Round Rock - File #: 2022-164

• File #: 2022-164
• Type: Resolution
• Status: Approved
• File created: 4/25/2022
• In control: City Council
• On agenda: 5/12/2022
• Final action: 5/12/2022
• Title: Consider a resolution authorizing the Mayor to execute a Rule 11 Condemnation Settlement Agreement with Wilbur Eugene McConico, et al., for the acquisition of 6.120 acres located at 700 Pecan Avenue for development of the downtown parkland project.
• Indexes: 2017 General Obligation Bonds

Date	Ver.	Action By	Action	Result
5/12/2022	1	City Council	approve	Pass

Title

Consider a resolution authorizing the Mayor to execute a Rule 11 Condemnation Settlement Agreement with Wilbur Eugene McConico, et al., for the acquisition of 6.120 acres located at 700 Pecan Avenue for development of the downtown parkland project.

Body

The 6.12 acre "McConnico" property located at 700 Pecan Ave has been identified as required for development of the City's Downtown Park project. The acquisition is in a current condemnation suit, and in preparation for a special commissioners hearing the City's appraisal estimate of value was +-$670K, and the owner's appraisal estimate of value was $2.665M. Prior to the hearing date the parties negotiated a proposed acquisition settlement of $1.3M, which has been reviewed with and recommended by the Parks Director.

Cost: $1,300,000.00

Source of Funds: 2017 General Obligation Bonds