M&C Review


COUNCIL ACTION:  Approved on 6/11/2019 

DATE: 6/11/2019 REFERENCE NO.: **L-16227 LOG NAME: 21PMD HARMON RD PARCEL 15
CODE: L TYPE: CONSENT PUBLIC HEARING: NO
SUBJECT:  

Authorize Acquisition of a Drainage Facility Easement, Right of Way Easement and Temporary Construction Easement Rights in Approximately 1.861 Acres of Land from Property Owned by X Heritage Trace Village, LTD, Located in the Josiah Survey, Abstract No. 1600, Tarrant County, Fort Worth, Texas, for the Harmon Road - Golden Triangle Blvd to US 287 Project in the Amount of $844,600.00 and Pay Estimated Closing Costs in the Amount Up to $6,000.00, for a Total Cost of $850,600.00 (2018 Bond Program) (COUNCIL DISTRICT 7)


RECOMMENDATION:

It is recommended that the City Council:

1. Authorize acquisition of a drainage facility easement, right of way easement and tremporary construction easement rights in approximately 1.861 acres of land from property owned by X Heritage Trace Village, LTD, located in the Josiah Survey, Abstract No. 1600, Tarrant County, Fort Worth, Texas, for the Harmon Road - Golden Triangle Blvd to US 287 Project in the amount of $844,600.00 and pay estimated closing costs in the amount Up to $6,000.00, for a total cost of $850,600.00;

2. Find that the total consideration is just compensation; and

3. Authorize the City Manager or his designee to accept the conveyance, execute and record the appropriate instruments.

 
DISCUSSION:

The land rights in the subject property are needed for the construction of the Harmon Road - Golden Triangle Blvd to US 287 Project. An independent appraisal was preformed and the land owner has agreed to accept the fair market value in the amount $844,600.00 as total compensation for the easement rights.

The City will pay estimated closing costs in the amount up to $6,000.00. Upon City Council approval, staff will proceed with acquiring the necessary drainage, right-of-way and temporary construction easement interests in the property.

A portion of this project includes 2018 Bond funds. Available resources within the General Fund will be used to provide interim financing until debt is issued. Once debt associated with the project is sold, bond proceeds will reimburse the General Fund in accordance with the statement expressing official Intent to Reimburse that was adopted as part of the ordinance canvassing the bond election (Ordinance No. 23209-05-2018).

Parcel No. Interest OwnerAddress/Legal DescriptionType of Property/AcreageAmount
15-DFE, 15-ROW X Heritage Trace Village, LTDJosiah Survey, Abstract No. 1600

Drainage Facility Easement / 0.136 acres

Right of Way Easement / 1.380 acres

$797,600.00
15-TCEX Heritage Trace Village, LTDJosiah Survey, Abstract No. 1600Temporary Construction Easement / 0.345 acres$47,000.00
Estimated Closing Cost$6,000.00
Total Cost$850,600.00


This property is located in COUNCIL DISTRICT 7.

A Form 1295 is not required for this contract because:  This M&C does not request approval of a contract with a business entity.

 
FISCAL INFORMATION/CERTIFICATION:

The Director of Finance certifies that upon approval of the above recommendations, funds are available, as appropriated in the W&S Commercial Paper Fund, the Developer Contribution Fund and the 2018 Bond program Fund. Prior to an expense being incurred, the participating department has the responsibility to validate the availability of funds.

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FROM
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Submitted for City Manager's Office by:
Jay Chapa (5804)
Originating Department Head:
Roger Venables (6334)
Additional Information Contact:
Leo Sumner (6349)

 
 
ATTACHMENTS
  Site Map.pdf