Title
Consider a resolution approving the sale of approximately 40 acres of land located at 1001 N. Red Bud Lane, Round Rock, Texas to the Round Rock Transportation and Economic Development Corporation.
Body
On August 23, 2018, the Round Rock City Council approved the purchase of approximately 40 acres of land located at 1001 N. Red Bud Lane, Round Rock, Texas. The transaction was fully executed on October 31, 2018 in the amount of $2,950,919.35.
On November 20, 2018, Type B approved the purchase of this land from the City of Round Rock, to add it to the TCIP and to include an additional $50,000 of professional services for surveying and utility easements. The land purchase preserves right-of-way for the future Old Settlers corridor alignment as shown on the Transportation Master Plan. Other uses for the remainder of the property are currently under discussion and would include other allowable uses under Chapter 501-505 of the Local Government Code.