Accept Dedication of Approximately 15.93 Acres of Vacant Land from D.R. Horton - Texas, Ltd., for the Expansion of Kingsridge West Park (COUNCIL DISTRICT 7)
It is recommended that the City Council accept the dedication of approximately 15.93 acres of vacant land from D.R. Horton - Texas, Ltd., in accordance with the Neighborhood and Community Park Dedication Policy for the expansion of Kingsridge West Park.
The purpose of this M&C is to accept land to be added to the existing Kingsridge West Park in north Fort Worth in accordance with the Neighborhood and Community Park Dedication Policy. The 15.93 acre land dedication is required for the Sanctuary at Bear Creek subdivision development project under Preliminary Plat PP-013-029 / Final Plat FP-014-040. D.R. Horton - Texas, Ltd., the developer, worked with the Park & Recreation Department to provide suitable parkland to serve this development.
The legal description is as follows:
A 15.93 acre parcel of land situated in the J.L. Hansbrough Survey, Abstract No. 747, the J. Billingsley Survey, Abstract No. 70, and the J. Edmonds Survey, Abstract No. 457, intending to be all of Lot 1X, Block 6, and being a portion of that tract of land described in a Deed to D.R. Horton-Texas, LTD., as recorded in Instrument No. D214048856, Deed Records, Tarrant County, TX, and according to the plat recorded under Clerk's Instrument No. D215252163, Plat Records, Tarrant County, Texas.
In March 7, 2017, M&C L-16011, the City Council accepted the donation of 12.469 acres of land to create Kingsridge West Park. Upon acceptance of this 15.93 acre parcel of land, Kingsridge West Park will be a total of 28.399 acres.
In January 2014, the City received an appraisal of the property of $32,000.00 per acre. The total value of the land dedication is estimated at $509,760.00.
The annual cost to maintain this property as reserve parkland is estimated to be $23,751.93. Funding for operations and maintenance will be allocated into the Park & Recreation Department's base budget beginning in FY2020.
The Sanctuary at Bear Creek development is located north of Ray White Road, east of Alta Vista Road and south of Golden Triangle Boulevard.
The parkland is located in COUNCIL DISTRICT 7.
This M&C does not request approval of a contract with a business entity.
The Director of Finance certifies that the financial records of the City will be updated to reflect this dedication based upon the Capital Asset Policy contained within the Financial Management Policy Statements. The Director of Finance also certifies that approval of the above recommendation will not result in additional appropriations in the Fiscal Year 2019 Budget.