City of Round Rock - File #: 2021-106

• File #: 2021-106
• Type: Resolution
• Status: Approved
• File created: 4/5/2021
• In control: City Council
• On agenda: 4/22/2021
• Final action: 4/22/2021
• Title: Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Gattis School Road Business Park, Ltd. for the purchase of a 0.414-acre parcel required for construction of Gattis School Road.
• Indexes: RR Transportation and Economic Development Corporation (Type B)

Date	Ver.	Action By	Action	Result
4/22/2021	1	City Council	approve	Pass

Title

Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Gattis School Road Business Park, Ltd. for the purchase of a 0.414-acre parcel required for construction of Gattis School Road.

Body

The City's initial appraised value for land and curative items was +-$203K. The owners presented a counteroffer of $495K, which included $181K in remainder damages due to lost landscape buffer "curb appeal", and increased curative costs based on specific contractor bids. The City negotiated to the current contract value of $314,248, and agreed to allow a landscape license in a portion of the acquired r.o.w. (which was also approved by Planning). This final settlement was reviewed with and recommended for approval by the Transportation Director.

Cost: $314,248.00

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