City of Round Rock - File #: 2022-393

• File #: 2022-393
• Type: Resolution
• Status: Approved
• File created: 11/14/2022
• In control: City Council
• On agenda: 12/1/2022
• Final action: 12/1/2022
• Title: Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Turtle Creek Market, LLC for the purchase of a 0.115 acre parcel required for construction of the proposed Gattis School Road (segment 3) roadway project.
• Indexes: RR Transportation and Economic Development Corporation (Type B)

Date	Ver.	Action By	Action	Result
12/1/2022	1	City Council	approve	Pass

Title

Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Turtle Creek Market, LLC for the purchase of a 0.115 acre parcel required for construction of the proposed Gattis School Road (segment 3) roadway project.

Body

The 2021 updated city appraised value for this acquisition was +-$86,000 ($71,000 for land + $15,000 for improvements). The contract purchase price of $98,810 was negotiated with the landowner after review and recommendation from the Transportation Director. The proposed land value is also consistent with more recently updated appraised values near the Gattis/Red Bud intersection.

Cost: $98,810.00

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