City of Round Rock - File #: 2019-0421

• File #: 2019-0421
• Type: Resolution
• Status: Approved
• File created: 10/4/2019
• In control: City Council
• On agenda: 10/24/2019
• Final action: 10/24/2019
• Title: Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Baev-Lasalle Round Rock University Boulevard LLC for the purchase of a 0.435 acre parcel of land required for the construction of the City’s proposed University Boulevard roadway widening improvement project (Parcel 3).
• Indexes: RR Transportation and Economic Development Corporation (Type B)

Date	Ver.	Action By	Action	Result
10/24/2019	1	City Council	approve	Pass

Title

Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Baev-Lasalle Round Rock University Boulevard LLC for the purchase of a 0.435 acre parcel of land required for the construction of the City’s proposed University Boulevard roadway widening improvement project (Parcel 3).

Body

The original City appraised land value for this parcel was $150K (+-$8/SF).  After the owners initially proposed a purchase price of $284K ($15/SF), a proposed purchase price settlement of $208,571 ($11/SF) was negotiated with the owner and reviewed with and recommended for approval by the Transportation Director. The owners have agreed to accept the City's appraised value for the acquired site improvements as a part of the overall purchase price.

Cost: $266,021.00

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