Title
1.) Executive Session Item: Pursuant to Chapter 551.072 of the Texas Government Code, deliberations regarding the purchase, exchange, lease, transfer and/or sale of real property related to the SH 45 Water and Wastewater Line Extension project. 2.) Open Session Item: Authorizing the City Manager to execute a purchase agreement with HPN Investments, Inc. for a Wastewater Line Easement and Temporary Construction Easement to acquire real property interests for the SH 45 Water and Wastewater Line project.
Summary
This item has been included on the agenda to allow for discussion and potential action on the item. The City Council is expected to retire to executive session on the item for deliberations regarding the purchase, exchange, lease, transfer and/or sale of real property pursuant to Chapter 551.072 of the Texas Government Code. Action, if any, will be taken in open session.
The SH 45 Water and Wastewater line extension project consists of two gravity wastewater lines (2,800 LF of 15-inch and 700 LF of 24-inch) and one water line (670 LF of 16-inch) crossing under SH-45 to serve approximately 476 acres of undeveloped properties northwest of the SH-45 and SH-130 interchange. To move forward with the project, the City must acquire eight easements. City staff procured an appraisal and right-of-way agreement with Seven Arrows to assist with property acquisition for this project.
Appraisals and site visits were performed by SW Realty Advisors, a sub consultant for Seven Arrows, on each property in early October and an evaluation of the easements were completed in November 2019 using the highest and best use analysis and the market area analysis. This purchase agreement is for the appraised value of the easement.
If this agreement is approved, it will be the sixth easement acquired. City staff anticipates all acquisition to be complete by March 2020.
Prior City Council Action
None.
Deadline for City Council Action
Action is requested on February 25,...
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