City of Round Rock - File #: 2023-227

• File #: 2023-227
• Type: Resolution
• Status: Approved
• File created: 7/24/2023
• In control: City Council
• On agenda: 8/10/2023
• Final action: 8/10/2023
• Title: Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Group 1 Realty, Inc. for the purchase of a 1.028 acre parcel required for construction of the proposed Chisholm Trail North Roadway Project.
• Indexes: RR Transportation and Economic Development Corporation (Type B)

Date	Ver.	Action By	Action	Result
8/10/2023	1	City Council	approve	Pass

Title

Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Group 1 Realty, Inc. for the purchase of a 1.028 acre parcel required for construction of the proposed Chisholm Trail North Roadway Project.

Body

The City's original appraised value for the acquisition was $492,613. The owners submitted a proposed written counteroffer in the amount of $1,035,352. The final contract purchase price of $626,962 was reviewed with and approved by the Transportation Department after additional negotiation with the owner.

Cost: $626,962.00

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