Authorize Acquisition of Drainage Facility Easementand Right-of-Way Easement Interests in Approximately 0.468 Acres of Land Located at 9301 Harmon Road in the Josiah Walker Survey, Abstract No. 1600, Tarrant County, Fort Worth, Texas, from Property Owned by Shyler D. Vincent  for the Harmon Road Improvement Project for a Total Purchase Price of $253,100.00 and Pay Estimated Closing Costs in the Amount Up to $4,000.00, for a Total Cost of $257,100.00 (COUNCIL DISTRICT 7) (2018 BOND PROGRAM)

It is recommended that the City Council:

1.Authorize acquisition of drainage facility easement and right-of- way easement interests in approximately 0.468 acres of land located at 9301 Harmon Road in the Josiah Walker Survey, Abstract No. 1600, Tarrant County, Fort Worth, Texas, from property owned by Shyler D. Vincent; 

2. Find that the total purchase price of $253,100.00 for the easement interests is just compensation and pay total estimated closing costs in the amount up to $4,000.00; and

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

The land rights in the subject property are needed for street reconstruction, storm drain improvements, and roundabout intersection improvements for the Harmon Road Improvement Project (CPN 100459) from Heritage Trace Parkway to Bonds Ranch Road/Golden Triangle Boulevard. The land owner has agreed to $253,100.00 as total compensation for the easement interests.

The City will pay estimated closing costs in the amount up to $4,000.00. Upon City Council approval, staff will proceed with acquiring the drainage facility and right-of-way 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).

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.