City of Round Rock - File #: 2020-0002

• File #: 2020-0002
• Type: Resolution
• Status: Approved
• File created: 12/3/2019
• In control: City Council
• On agenda: 1/9/2020
• Final action: 1/9/2020
• Title: Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Round Rock 732 Building, LLC for the purchase of an approximately 0.469 acre tract of land remaining after the City's condemnation of right-of-way parcels required for the RM 620 Right of Way Project (Parcels 22R).
• Indexes: RR Transportation and Economic Development Corporation (Type B)

Date	Ver.	Action By	Action	Result
1/9/2020	1	City Council	approve	Pass

Title

Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Round Rock 732 Building, LLC for the purchase of an approximately 0.469 acre tract of land remaining after the City's condemnation of right-of-way parcels required for the RM 620 Right of Way Project (Parcels 22R).

Body

This is a purchase of the portion of the RM620/Parcel 22 parent tract remaining after the condemnation acquisition of the portion of the property required for construction of the RM 620 improvement project. The purchase price of $250K is +-$15K below the City appraisal estimate for the remainder property value, and +-$52K below the property owner appraisal estimate for the remainder property value.

Cost: $250,000.00

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