Posting Language
Title
Authorize negotiation and execution of all documents and instruments necessary or desirable to acquire approximately 2.172 acres (94,634 square feet) of sidewalk, trail, and recreational easement, generally located at 11201 Parkfield Drive, Austin, Texas 78758 from Protestant Episcopal Church Council of the Diocese of Texas, a Texas non-profit corporation for a total amount not to exceed $777,428 including closing costs. Funding: $777,428 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:
This proposed acquisition is for parks and recreation purposes and consists of approximately 2.172 acres in the North Lamar neighborhood. This acquisition serves a park-deficient neighborhood with a new neighborhood park in alignment with the recommendations identified in the Austin Parks and Recreation’s Long-Range Plan, Our Parks, Our Future. The site is a level, open field with an existing community garden. This park serves approximately 122 residents.
An independent third-party appraisal was procured to establish the fair-market valuation of the proposed acquisition. The appraisal supports the purchase price of $768,428. The amount of the purchase price plus closing costs is not to exceed $777,428.