File #: 1962    Version: 1 Name: Sale of ROW to TxDOT- IH35E Managed Lanes, Ph 2
Type: Resolution Status: Passed
File created: 4/13/2015 In control: City Council
On agenda: 4/21/2015 Final action: 4/21/2015
Title: Consider A Resolution Authorizing The City Manager Or His Designee To Enter Into An Agreement To Sell A 40,893 Square Feet Tract Of Land In Fee Simple, Which Tract Is Part Of A Parcel Of Land Located At 1825 North IH-35E; And Providing An Effective Date.
Attachments: 1. Resolution, 2. Location Map, 3. Metes and Bounds Description, 4. Supplemental Information
CC MEETING:      April 21, 2015
 
DATE:                  April 13, 2015
 
TO:                        Leonard Martin, City Manager
 
FROM:                  Cesar J. Molina, Jr., P.E., Director of Engineering
 
Title
Consider A Resolution Authorizing The City Manager Or His Designee To Enter Into An Agreement To Sell A 40,893 Square Feet Tract Of Land In Fee Simple, Which Tract Is Part Of A Parcel Of Land Located At 1825 North IH-35E; And Providing An Effective Date.
 
Body
BACKGROUND:
This agenda item is to seek authorization to sell property to the Texas Department of Transportation (TxDOT) for the IH-35E managed lanes expansion project, phase 2. This sale consists of one partial tract of vacant property, known as 1825 North IH-35E. The partial tract is 40,893 square feet of land.
FINANCIAL IMPLICATIONS:
TxDOT has provided a full appraisal establishing the fair market value of the property.  Proceeds from the sale ($327,144.00) will be deposited in the City's General Fund.
 
IMPACT ON COMMUNITY SUSTAINABILITY:
The land will be used to expand existing roads in the city. The remainder of the city's property at Luna Road and North IH-35E can still be developed.
 
STAFF RECOMMENDATION/ACTION DESIRED:
Staff recommends approval of the attached resolution authorizing the City Manager or his designee to sell the tract of land to TxDOT.