City of Round Rock - File #: 2023-310

• File #: 2023-310
• Type: Resolution
• Status: Agenda Ready
• File created: 9/11/2023
• In control: City Council
• On agenda: 9/28/2023
• Final action: 9/28/2023
• Title: Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Avery Ranch Company, Ltd. and Avery Trusts for the purchase of a 6.345 acre right of way parcel and 0.059 acre drainage easements required for the CR 112 Roadway Improvements Project.
• Indexes: RR Transportation and Economic Development Corporation (Type B)

Date	Ver.	Action By	Action	Result
9/28/2023	1	City Council	approve	Pass

Title

Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Avery Ranch Company, Ltd. and Avery Trusts for the purchase of a 6.345 acre right of way parcel and 0.059 acre drainage easements required for the CR 112 Roadway Improvements Project.

Body

The City's original appraised value for the acquisition was $1,611,372. After additional negotiation the property owners have agreed to a reduced cash purchase price of $1,500,000 plus the City's installation of certain utility conduit improvements as part of the CR 112 improvement project, which was reviewed with and recommended for acceptance by the Transportation Director.

Cost: $1,500,000.00

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