City of Round Rock - File #: 2023-174

• File #: 2023-174
• Type: Resolution
• Status: Approved
• File created: 5/25/2023
• In control: City Council
• On agenda: 6/8/2023
• Final action: 6/8/2023
• Title: Consider a resolution authorizing the Mayor to execute a Real Estate Contract with North Paloma Lake Development, Inc. for the purchase of a 0.319 acre right of way parcel required for CR 112 improvements, and a 3.821 acre remainder parcel for future city facilities.
• Indexes: RR Transportation and Economic Development Corporation (Type B)

Date	Ver.	Action By	Action	Result
6/8/2023	1	City Council

Title

Consider a resolution authorizing the Mayor to execute a Real Estate Contract with North Paloma Lake Development, Inc. for the purchase of a 0.319 acre right of way parcel required for CR 112 improvements, and a 3.821 acre remainder parcel for future city facilities.

Body

The City's original appraised value for the acquisition was $173,002 for the 0.319 acre right of way parcel. After additional negotiation and instruction from Transportation and Fire, the City has agreed to purchase the full 4.153 acre parent tract for the City's appraised value of $1,631,145. The additional 3.81 acre portion of the property outside of the required CR 112 project r.o.w. is planned to be used for a future fire station or other city use.

Cost: $1,631,145.00

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