CC MEETING: May 26, 2020
DATE: May 19, 2020
TO: Erin Rinehart, City Manager
FROM: Ravi Shah, Director of Development Services
Marc Guy, Assistant City Manager
Title
Consider A Resolution Authorizing The City Manager To Negotiate And Execute The Purchase Of An Approximately 121-Acre Tract Of Land Currently Owned By The North Texas Tollway Authority, And Located At The Southwest Quadrant of IH-35E And President George Bush Turnpike (PGBT), In An Amount Not To Exceed $3,450,000.00.
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BACKGROUND:
On October 16, 2019, the NTTA Board of Directors adopted a resolution declaring a list of properties that were under NTTA ownership to be surplus real estate. The NTTA Executive Director was authorized to execute documents and take other actions necessary to begin the disposition process.
One of NTTA's surplus properties is in Carrollton and is located at the southwest quadrant of IH-35E and President George Bush Turnpike (PGBT). The property is approximately 121 acres in size and consists of four (4) parcels.
The property is not currently being used by NTTA. Further, NTTA has determined that there are no further transportation-related uses planned and that the property is not needed for current or future tollway maintenance operations.
This property is on the west side of IH-35E and directly across from Trinity Mills Station. Because of its connection to Trinity Mills Station via the recently completed Dickerson Parkway, this property will add land mass and future value to the growth and expansion potential of the Trinity Mills Station/TOD area. Although the property has several challenges to be overcome for development, the acquisition of this site will allow the present and future City Councils an opportunity to direct and influence the character and quality of the future use and development of a highly visible and strategic area.
The NTTA executive staff has been advised of Carrollton's interest in acquiring this property. NTTA recently conducted a...
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