Posting Language
Title
Authorize negotiation and execution of all documents and instruments necessary or desirable to acquire a parcel in fee simple, an access easement, and a sidewalk, trail, and recreational easement on behalf of Austin Parks and Recreation for the Rutland to Northgate Trail project. The acquisition consists of a fee simple parcel of approximately 1.154 acres (50,255 square feet), an access easement of approximately 0.1188 acres (5,173 square feet), and a sidewalk, trail, and recreational easement of approximately 0.8154 acres (35,519 square feet) generally located at 9511 Metric Blvd., Austin, Texas 78758 from Butler Broadcasting Company, Ltd., for a total amount not to exceed $5,481,865 including closing costs. Funding: $5,481,865 is available in the Capital Budget of Austin Parks and Recreation.
De
Lead Department
Austin Financial Services.
Fiscal Note
Funding is available in the Capital Budget of Austin Parks and Recreation.
For More Information:
Brandon Williamson, Austin Financial Services, 512-974-5666; Michael Gates, Austin Financial Services, 512-974-5639; Randy Scott, Austin Parks and Recreation, 512-974-9484.
Additional Backup Information:
The proposed acquisition is for park and recreation purposes for the Rutland to Northgate Trail project. The approximately 1.154-acre pocket park will be a park node along a planned trail connecting Metric Boulevard and Rutland Drive. The site is mostly flat and unencumbered, making it suitable to develop with active recreational facilities. The park will serve over 6,800 residents who are currently underserved by parkland.
An independent, third-party appraisal was procured to establish the fair-market valuation of the proposed acquisition. The appraisal supports the purchase price of $5,441,865. The amount of the purchase price plus closing costs is not to exceed $5,481,865.