Posting Language
Title
Authorize negotiation and execution of all documents and instruments necessary or desirable to acquire in fee simple approximately 142.754 acres (6,218,364 square feet), including 11 buildings totaling approximately 2,435,457 square feet of office space, warehouse facilities, parking garages, and storage areas, for Austin Water and other municipal purposes, located at 6500 Tracor Lane, Austin, Texas 78725, from Karlin Tracor Lane, LLC, a Delaware limited liability company, for a total amount not to exceed $41,113,756, including closing costs. Funding: $41,863,756 is available in the Capital Budget of Austin Water.
De
Lead Department
Financial Services Department.
Fiscal Note
Funding is available in the Fiscal Year 2024-2025 Capital Budget of Austin Water.
For More Information:
Michael Gates, Financial Services Department, 512-974-5639; Brandon Williamson, Financial Services Department, 512-974-5666; Joseph Gonzales, Austin Water, 512-972-0359.
Additional Backup Information:
The proposed acquisition consists of an approximately 142.754-acre tract totaling approximately 435,457 square feet of office space, warehouse facilities, and storage areas, as well as additional garage and surface parking. The acquisition will also include the conveyance of three appurtenant access easements established to provide ingress and egress to the property. With the acquisition, Austin Water will assume existing service contracts for property management, security, landscaping, and fire monitoring for the property for 12 months. After the proposed acquisition, the City will conduct feasibility studies, long range campus planning, and architectural programming and design of the existing office buildings. After the proposed acquisition, the City will conduct feasibility studies, long range campus planning, and architectural programming and design of the existing office buildings. This acquisition will support Austin Water's immediate and long-term operationa...
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