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File #: 2025-083   
Type: Resolution Status: Agenda Ready
File created: 3/11/2025 In control: City Council
On agenda: 3/27/2025 Final action: 3/27/2025
Title: Consider a resolution authorizing the Mayor to execute a Rule 11 Settlement Agreement with Steven R. Meeks and 7-Eleven, Inc. to acquire a 0.063 acre parcel required for construction of Gattis School Road Segment 3.
Indexes: RR Transportation and Economic Development Corporation (Type B)
Attachments: 1. Resolution, 2. MEEKS(21)--Rule 11 Settlement Agreement ($245K) -- signed by owner + tenant, 3. MEEKS(21)--proposed GSR3 facility w-throat depth & curb setbacK (PRESENTATION ONLY)

Title

Consider a resolution authorizing the Mayor to execute a Rule 11 Settlement Agreement with Steven R. Meeks and 7-Eleven, Inc. to acquire a 0.063 acre parcel required for construction of Gattis School Road Segment 3.

Body

The proposed Rule 11 agreement would settle the currently active condemnation lawsuit for this property acquisition. The City's trial appraisal amount is +/-$194K (land + improvements + cure), and the owners originally submitted a counteroffer demand of +/-$279K. After additional negotiation, the current proposed settlement amount of $245,000 has been reviewed with and recommended for approval by the Public Works Executive Director.

 

Cost: $245,000.00

Source of Funds: RR Transportation and Economic Development Corporation (Type B)