Authorize Acquisition of a Fee Simple Interest in Approximately 7.91 Acres of Land Located at the Southwest Corner of South Normandale Street and Portales Drive from Normandale, LLC, in the Amount of $885,000.00, Pay Estimated Closing Costs Up to $25,000.00 for a Total Cost Up to $910,000.00 and Dedicate Property as Tim Watson Park (COUNCIL DISTRICT 3)

It is recommended that the City Council:

1.  Authorize the acquisition of approximately 7.91 acres of land located at the southwest corner of South Normandale Street and Portales Drive from Normandale, LLC, in the amount of $885,000.00, pay estimated closing costs up to $25,000.00;

2.  Authorize the City Manager or his designee to accept the conveyance, pay appraised fair market value and record the appropriate instruments; and

3.  Dedicate the property as parkland upon conveyance as Tim Watson Park.  

The purpose of this Mayor and Council Communication (M&C) is to acquire land located in west Fort Worth in accordance with the Neighborhood and Community Park Dedication Policy and the Park, Recreation and Open Space Master Plan, which calls for the provision of adequate park and recreational areas in the form of Neighborhood Based Parks and Community Based Parks.

In December 2014, the Park and Recreation Department began assessing potential properties in west Fort Worth for neighborhood park land acquisition.  The proposed acquisition is located in Neighborhood Park Unit 7-03 which is currently unserved in neighborhood based parkland.

Upon completion of internal Staff assessment of various parcels, the site located at the southwest corner of South Normandale Street and Portales Drive was found most suited for a neighborhood park.  Because the site is centrally located adjacent to multiple neighborhood subdivision developments and is fronted by a collector street to existing neighborhoods with pedestrian access, it has been determined suitable for recreational amenity development with good site conditions and available utilities.

Staff recommends acquiring approximately 7.91 acres of land located at the southwest corner of South Normandale Street and Portales Drive from Normandale, LLC, owner, by way of voluntary acquisition to meet the need for additional parkland in west Fort Worth.  An independent appraisal was performed and the owner accepted the appraised value of $1,240,000.00.  The seller has agreed to sell the property for a cash sum of $885,000.00 due from the City and the remaining $355,000.00 shall be deeded as an in-kind charitable gift from Seller.  Staff has received an executed purchase contract from the Seller.  The Seller provided a prior site survey which will be reviewed by City staff prior to closing.  In addition, the City's Park and Recreation Department staff will ensure the property meets the requirements for its proposed use as a neighborhood park.  As a condition of the sale, the Seller has agreed that the park shall be named "Tim Watson Park", in memory of Tim Watson (1977-2014).  Mr. Watson served in various capacities in his charitable endeavors throughout the City.

Funding for the land acquisition in the total amount of $910,000.00 will be provided through the Park Dedication Fees Funds as previously appropriated on April 19, 2016 (M&C G-18721) in the Park and Recreation Department's Capital Improvement Plans for Fiscal Years 2016-2020.

The park will be held in reserve status until development occurs.  The annual cost to maintain this parkland in reserve status is estimated to be $3,189.31.  When the park is developed, additional funding will be requested for maintenance operations of the added facilities and the resultant increase in use.

The property is located in COUNCIL DISTRICT 3, Mapsco 361P.