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File #: 2020-0281   
Type: Resolution Status: Approved
File created: 9/21/2020 In control: City Council
On agenda: 10/8/2020 Final action: 10/8/2020
Title: Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Randall's Food & Drugs, LP for the purchase of a 0.351-acre tract of land required for construction of Gattis School Road (Phase 3) project.
Indexes: RR Transportation and Economic Development Corporation (Type B)
Attachments: 1. Resolution, 2. Exhibit A, 3. Map

Title

Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Randall's Food & Drugs, LP for the purchase of a 0.351-acre tract of land required for construction of Gattis School Road (Phase 3) project.

 

Body

The proposed purchase price was reviewed with, and recommended for approval by, the Transportation Director after negotiation and consideration of additional counteroffer and comparable sales data information provided by the property owner in response to the City's initial offer. The total purchase price is allocated between Parcel 8 ($144,531) and Parcel 9 ($94,156), which had separate uses and unit values for negotiation.

 

Cost: $238,687.00

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