Title
Consider a resolution authorizing the Mayor to execute two real estate purchase contracts with Nelson Homestead Family Partnership, Ltd. for 6.80 acres and 20.586 acres required to construct CR 112 roadway improvements.
Body
The final negotiated purchase agreement amounts were reviewed with and recommended for approval by the Public Works Executive Director. The City previously paid the amounts of $905,727 (Parcel 3--6.8 acres), $2,722,037 (Parcel 4--20.586 acres) in connection with Possession and Use Agreements, which amounts are offset from the final purchase total.
Parcel 3
ROW Purchase - $1,470,755
Fencing on Boundary to Remainder - $60,406.25
TOTAL - $1,541,161.25
Previously Paid to Owner - $905,727
Balance due to Owner - $635,434.25
Parcel 4
ROW Purchase - $3,676,523
Fencing on Boundary to Remainder - $60,406.25
TOTAL - $3,736,929.25
Previously Paid to Owner - $2,722,037
Balance due to Owner - $1,014,892.25
Cost: $635,434.25 and 1,014,892.25 = $1,650,326.50
Source of Funds: Round Rock Transportation and Development Corporation (Type B)