Posting Language
Title
Authorize negotiation and execution of all documents and instruments necessary or desirable to acquire approximately 0.0229 acres (997 square feet) of water line easement and approximately 0.1215 acres (5,292 square feet) of temporary working space easement situated in the Isaac Decker Survey, Abstract No. 8 for a water line project, generally located at 3001 South Congress Avenue, Austin, Texas 78704, and being a portion of the remainder of that called 123.78-acre tract described as first tract in deed to St. Edward’s University at Austin, Texas recorded in Volume 398, Page 530, Deed Records of Travis County, Texas, from St. Edward’s University, Inc., successor-in-interest to St. Edward’s University at Austin, Texas, for a total amount not to exceed $143,000 including closing costs. The general route of the project is along West Oltorf Street and surrounding areas between Congress Avenue and Schriber Street. Funding: $143,000 is available in the Capital Budget of Austin Water.
Body
Lead Department
Financial Services Department
Fiscal Note
Funding is available in the Capital Budget of Austin Water.
For More Information
Michael Gates, Financial Services Department, 512-974-5639; Brandon Williamson, Financial Services Department, 512-974-5666; Daniel Kankel, Capital Delivery Services, 512-974-7213.
Additional Backup Information
The proposed acquisition is for a water line project to eliminate substandard water pressure for customers near and along the Oltorf Street corridor. This project will raise the level of service to meet Section 2.9 of the City of Austin’s Utilities Criteria Manual. It will also establish a new South Reduced Zone to increase the operating hydraulic grade line in the defined area.
An independent, third-party appraisal was procured to establish the fair-market valuation of the proposed acquisition. The appraisal supports the purchase price of $139,037. The amount of the purchase price plus closing costs is not to exceed $143,000.