Posting Language
Title
Authorize negotiation and execution of all documents and instruments necessary or desirable to convey approximately 1,500 square feet (0.03 acres) of permanent surface easement and approximately 40,000 square feet (0.92 acres) of temporary working space easement, generally located on FM 973, Austin, Texas 78725, across from Rio Rojo Way, and situated in the Reuben Hornsby Survey Number 17, Abstract Number 15 in Travis County, Texas, and being out of Tract 1 described in a deed to the City of Austin, recorded in Volume 9247, Page 710, of the Real Property Records, Travis County, Texas, to Texas Gas Service, a division of ONE Gas, Inc., for an amount no less than $67,400. Funding: This item is projected to result in additional revenue of $67,400 in the Austin Water Capital Budget.
Body
Lead Department
Financial Services Department.
Fiscal Note
This item is projected to result in additional revenue of $67,400 in the Austin Water Capital Budget.
For More Information:
Michael Gates, Financial Services Department, 512-974-5639; Brandon Williamson, Financial Services Department, 512-974-5666; Eric Sermeno, Austin Water, 512-972-0497.
Additional Backup Information:
This project involves installing a gas regulator station for Texas Gas Service. The station will reduce gas pipeline pressure to appropriate levels for downstream ratepayers in the surrounding area. The general location of the property on FM 973, Austin, Texas 78725, across from Rio Rojo Way.
Texas Gas Service has made an offer to purchase the subject property interests for $67,400. The Financial Services Department has reviewed the appraisal provided by Texas Gas Service and determined the offer amount is reasonably supported.