Posting Language
Title
Authorize negotiation and execution of all documents and instruments necessary or desirable to convey approximately 0.015 acre (653 square feet) of electric easement located on the property at 15205 Thatcher Drive to Pedernales Electric Cooperative, Inc. for a payment to the City of not less than $294. Funding: This item is projected to result in additional revenue of $294 in the Capital Budget of Austin Watershed Protection.
De
Lead Department
Austin Financial Services.
Fiscal Note
This item is projected to result in additional revenue of $294 in the Capital Budget of Austin Watershed Protection.
For More Information:
Brandon Williamson, Austin Financial Services, 512-974-5666; Michael Gates, Austin Financial Services, 512-974-5639; Jorge Morales, Austin Watershed Protection, 512-974-3438.
Additional Backup Information:
Pedernales Electric Cooperative, Inc. is upgrading their infrastructure and has identified the need to acquire a 0.015-acre (653 square feet) electric easement on land owned by the City of Austin and stewarded by Austin Watershed Protection. The land is used for water quality in this area and Austin Watershed Protection has confirmed that granting an easement to Pedernales Electric Cooperative will not compromise its current or future operations in the area.
Pedernales Electric Cooperative has made an offer to purchase a portion of the subject property at an appraised value of $294. Austin Financial Services reviewed the appraisal provided by Pedernales Electric Cooperative and determined that its value conclusion is reasonably supported.