Posting Language
Title
Authorize negotiation and execution of all documents and instruments necessary or desirable to acquire in fee simple approximately 0.8479 acres (36,936 square feet), generally located at 5503 Bennett Ave., Austin, TX 78751, from Deborah D. Dunn aka Deborah Dunn for a total amount not to exceed $360,000 including closing costs. Funding: Funding in the amount of $360,000 is available in the Capital Budget of the Parks and Recreation Department.
De
Lead Department
Financial Services Department.
Fiscal Note
Funding is available in the Capital Budget of the Parks and Recreation Department.
For More Information:
Michael Gates, Financial Services Department, 512-974-5639; Brandon Williamson, Financial Services Department, 512-974-5666; Randy Scott, Parks and Recreation Department, 512-974-9484.
Additional Backup Information:
This proposed acquisition is for park and recreational purposes, consisting of approximately 0.8479 acres along the Tannehill Branch Creek in the North Loop neighborhood. This acquisition will provide an extension to the Tannehill Branch Greenbelt in alignment with the recommendations identified in the Parks and Recreation Department’s Long-Range Plan, Our Parks, Our Future. The site is currently undeveloped, in the floodplain, and bordered by Tannehill Branch Creek to the south providing an opportunity for access to water for this park-deficient neighborhood. The Tannehill Branch Greenbelt serves approximately 1,000 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 $350,000. The amount of the purchase price plus closing costs is not to exceed $360,000.