City of Round Rock - File #: 2019-0283

• File #: 2019-0283
• Type: Resolution
• Status: Approved
• File created: 6/21/2019
• In control: City Council
• On agenda: 7/11/2019
• Final action: 7/11/2019
• Title: Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Robjacs, LLC for the purchase of 3.434 acres located at 1525 Sam Bass Road, required for the construction of the proposed Deep Wood Drive roadway improvements.
• Indexes: RR Transportation and Economic Development Corporation (Type B)

Date	Ver.	Action By	Action	Result
7/11/2019	1	City Council	approve	Pass

Title

Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Robjacs, LLC for the purchase of 3.434 acres located at 1525 Sam Bass Road, required for the construction of the proposed Deep Wood Drive roadway improvements.

Body

The City's original land value appraisal estimate was $3.00/SF.  The landowner presented a broker's opinion land value estimate of $4.50/SF.  After additional negotiation the current contract price of +-$3.80/SF and addition non-cash construction items was reviewed with and recommended for approval by the Transportation Director and legal department.

Cost: $560,587.00

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