City of Round Rock - File #: 2017-4376

• File #: 2017-4376
• Type: Resolution
• Status: Approved
• File created: 4/13/2017
• In control: City Council
• On agenda: 4/27/2017
• Final action: 4/27/2017
• Title: Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Penny A. Lackey and Tina D. Lackey for the purchase of a 0.176 acre parcel of land and a 0.115 acre parcel of land necessary for the RM 620 Right of Way Project (Parcels 17 and 17R).
• Indexes: RR Transportation and Economic Development Corporation (Type B)

Date	Ver.	Action By	Action	Result
4/27/2017	1	City Council	approve	Pass

Title

Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Penny A. Lackey and Tina D. Lackey for the purchase of a 0.176 acre parcel of land and a 0.115 acre parcel of land necessary for the RM 620 Right of Way Project (Parcels 17 and 17R).

Body

The $200,000 portion of the purchase price is equal to the City's appraised value for the required right of way parcel, and is 90% reimbursable by TxDoT. At the request of the owners the City is also agreeing to pay $5000 to purchase the remainder property, which was determined to have assemblage value only after the right of way taking due to its small size.

Cost: $205,000.00

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