Title
Consider and take action on a resolution authorizing the sale of a property identified as P00087303 (Parcel 322) to TxDOT related to the construction of SH 99 Segment B1 in the amount of $281,420 (Executive Director of Capital Projects)
Background:
Approval of this resolution authorizes the sale of a property identified as P00087303 (Parcel 322) to TxDOT in the amount of $281,420 related to the construction of SH 99 Segment B1.
TxDOT is proposing to acquire the GCAD Parcel #420427 as Right-of-Way for the construction of SH 99 Segment B1. The parcel is owned by the City of League City and is currently used as detention. Since TxDOT will be acquiring and removing the commercial developments to the north of the subject property, there will be no further need for this detention. TxDOT will provide future detention facilities for the development of SH 99 throughout the alignment of the Grand Parkway. The parcel is approximately 0.3230 acre (14,071 square feet). TxDOT has submitted an offer to the City of $281,420 which mirrors the appraised value.
The City staff recommends acceptance of this offer.
Attachments:
1. Proposed Resolution
2. Offer Letter & Survey Documents
3. Maps - Grand Pkwy, Aerial, & Galveston CAD
4. Compensation Summary - From Appraisal Report
5. Vicinity Aerial Map - From Appraisal Report
6. Supplemental Documents
FUNDING
{X} Revenue received by TxDOT will be deposited into the Right of Way (ROW) fund, fund 5030, revenue account number 5030-44200 (Sale of ROW). These funds will be used towards future ROW purchases.