City of Round Rock - File #: 2021-093

• File #: 2021-093
• Type: Resolution
• Status: Approved
• File created: 3/22/2021
• In control: City Council
• On agenda: 4/8/2021
• Final action: 4/8/2021
• Title: Consider a resolution authorizing the Mayor to execute a Real Estate Contract with KAF II Development Company for the purchase of a 0.164-acre parcel required for construction of Gattis School Road.
• Indexes: RR Transportation and Economic Development Corporation (Type B)

Date	Ver.	Action By	Action	Result
4/8/2021	1	City Council	approve	Pass

Title

Consider a resolution authorizing the Mayor to execute a Real Estate Contract with KAF II Development Company for the purchase of a 0.164-acre parcel required for construction of Gattis School Road.

Body

The City's original appraised value for this parcel was $215K. The owner's original appraised value and counteroffer was $600K. The proposed contract purchase price of $300,000 is a negotiated settlement which has been reviewed with and approved by the Transportation Director.

Cost: $300,000.00

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