Authorize Acquisition of a Fee Simple Interest for Right-of-Way in 0.047 Acres Located at 1305 East 3rd Street from Leslie Hollie for the Live Oak Connector Project from East 4th Street to Weatherford Street in the Amount of $15,000.00 and Pay Estimated Closing Costs in the Amount Up to $1,000.00 for a Total Cost of $16,000.00 (Grant Capital Federal Projects) (COUNCIL DISTRICT 8)

It is recommended that the City Council:

1.  Authorize the acquisition of a fee simple interest for right-of-way in 0.047 acres located at 1305 East 3rd Street from Leslie Hollie in the amount of $15,000.00 and pay estimated closing costs in the amount up to $1,000.00;

2.  Find that the total purchase price is just compensation; and

3.  Authorize the City Manager or his designee to accept the conveyances and record the appropriate instruments.

The fee simple interest is needed for construction of the Live Oak Connector Project from East First Street to Weatherford Street. As part of the overall Tower 55 Railroad Project, numerous street and railroad grade crossing improvements have been programed for the area to enhance access and mobility for adjacent land uses. As part of these overall railroad track improvements, the railroad street grade crossings at Peach and East First Streets with the Union Pacific Railroad track are scheduled for closure. To replace these crossings and maintain area mobility Live Oak Street is scheduled for realignment and will be connected directly into East 4th Street which provides a grade separated route across the Union Pacific Railroad tracks.

An independent appraisal established fair market value to be $12,360.00. The property owner has agreed to the negotiated amount of $15,000.00 for the needed interest in the parcel of land. The real estate taxes will be pro-rated with the seller being responsible for taxes due up to the closing date. The City will pay closing costs in an amount up to $1,000.00. Upon City Council approval, Staff will proceed with acquiring the fee simple interest in the property.

This acquisition will be funded through the Grant Capital Federal Projects.

Ownership	Parcel	Address/Legal Description	Interest	Amount
Leslie Hollie	8	1305 East 3rd Street, Lot 2A, Block 22, Moore- Thornton & Co. Addition	0.047 Acres/Fee Simple ROW	$15,000.00
			Estimated Closing Cost	$1,000.00
			Total Cost	$16,000.00

This property is located in COUNCIL DISTRICT 8, Mapsco 330 7B.

This M&C does not request approval of a contract with a business entity.