Title
Consider authorizing the Mayor to execute a resolution determining the necessity and authorizing the use of the City’s power of eminent domain to acquire a 0.0321 acre fee simple parcel and 0.0333 acre temporary construction easement from property owned by Regions Bank located at 101 Old Settlers Blvd West.
Body
The City's appraised value for the proposed 0.0321 acre r.o.w. + 0.0333 acre temporary construction easement acquisition was $36,894 ($30,350 Land + $6,544 Improvements/cure). There have been discussions and interaction with the owner attorneys regarding retaining wall + parking reconstruction, and access issues during and after construction which have been answered by the City's engineers, but there has been no acceptance or specific counteroffer proposal to the initial offer (8.16.22) and final offer (11.3.22) correspondence from the City.
Condemnation motion language:
I move that the City authorize the use of its power of eminent domain to acquire a 0.0321 acre tract in fee simple, and temporary construction easement interest in 0.0333 acre, owned by Regions Bank located at 101 Old Settlers Blvd. West and required for the construction of improvements on the Chisholm Trail Road Right Turn Lanes project.