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File #: 2020-0108   
Type: Resolution Status: Approved
File created: 4/7/2020 In control: City Council
On agenda: 4/23/2020 Final action: 4/23/2020
Title: Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Babb Investments, L.L.C. for the purchase of a 0.121-acre parcel required for construction of Gattis School Road (Phase 3).
Indexes: RR Transportation and Economic Development Corporation (Type B)
Attachments: 1. Resolution, 2. Exhibit A, 3. Maps

Title

Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Babb Investments, L.L.C. for the purchase of a 0.121-acre parcel required for construction of Gattis School Road (Phase 3).

 

Body

The City's approved appraisal value for this parcel acquisition was $92,499. The owner requested a slight increase in the land component unit value, for the current total purchace price of $97,770, which was reviewed with and recommended for approval by the Transportation Director (Parcel 14).

 

Cost: $97,770.00

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