Posting Language
Title
Authorize negotiation and execution of all documents and instruments necessary or desirable to acquire in fee simple approximately 1.39 acres (60,548 square feet), generally located at 12100 North Inerstate 35, Austin, Texas 78753 from Mary S. Pelath, Independent Executor of the Estate of John J. Pelath (“Seller”) for a total amount not to exceed $696,110 including closing costs. Funding: $696,110 is available in the Fiscal Year 2024-2025 Capital Budget of the Parks and Recreation Department.
De
Lead Department
Financial Services Department.
Fiscal Note
Funding is available in the Fiscal Year 2024-2025 Capital Budget of the Parks and Recreation Department.
For More Information:
Brandon Williamson, Financial Services Department, 512-974-5666; Michael Gates, Financial Services Department, 512-974-5639; Randy Scott, Parks and Recreation Department, 512-974-9484.
Additional Backup Information:
This acquisition is for park and recreation purposes and consists of approximately 1.39 acres located along the Northern Walnut Creek Greenbelt, west of Inerstate 35. This acquisition will provide an extension of the Northern Walnut Creek Greenbelt system in alignment with the recommendations identified in the Parks and Recreation Department’s Long-Range Plan, Our Parks, Our Future. The site would expand access to the southern bank of the Walnut Creek Greenbelt, providing a trailhead opportunity and tie-in to the planned Inerstate 35 shared-use path.
This acquisition is funded through the parkland dedication funds. An independent third-party appraisal was procured to establish the fair-market valuation of the proposed acquisition. The appraisal supports the purchase price of $676,110. The amount of the purchase price plus closing costs is not to exceed $696,110.