Title
Consider a resolution authorizing the Mayor to execute an Agreed Judgment in the condemnation suit styled City of Round Rock, Texas v. VHA Properties, LLC for the acquisition of a 0.424-acre trail easement for the Brushy Creek Trail.
Body
This proposed judgment is a negotiated settlement of the condemnation suit for Brushy Creek Trail / Parcel 4, and is part of a larger negotiated transaction which includes the fee purchase of an 0.855 acre expanded area outside of the initial easement location. The total negotiated price for the fee purchase was $315,000, and will be completed through a separate real estate transaction contingent upon approval of the Judgment. The Judgment compensation of $69,704, which was the amount of the previous condemnation hearing award and has already been paid to the registry of the court, will be credited to and against the total price, leaving a remaining balance for the fee acquisition transaction of $245,296.
This portion of trail will consist of an 8' wide concrete trail section connecting A.W. Grimes Blvd. to Georgetown St. and will eventually connect to Heritage Trail. This trail section has been identified as one of the highest priority trail gaps in the most recent trails master plan update.
Cost: $69,704.00
Source of Funds: 2014 General Obligation Bonds