Posting Language
Title
Authorize negotiation and execution of all documents and instruments necessary or desirable to acquire 0.0367 acre (1,600 square feet) of waterline easement and 0.0089 acre (388 square feet) of temporary working space easement situated in the Isaac Decker Survey, Abstract No. 8, within the City of Austin in Travis County, Texas, being a portion of Lot B, Oak Glen II-A, a subdivision recorded in Volume 87, Page 169D of the Plat Records, Travis County, Texas, generally located at 2542 South Congress Avenue, Austin, Texas 78704, from AutoZone, Inc., a Nevada corporation, for a total amount not to exceed $119,000 including closing costs.
Body
Lead Department
Financial Services Department.
Fiscal Note
Funding is available in the Capital Budget of Austin Water.
For More Information:
Michael Gates, Financial Services Department, 512-974-5639; Brandon Williamson, Financial Services Department, 512-974-5666; Daniel Kankel, 512-974-7213.
Additional Backup Information:
This acquisition is needed to support a project that will eliminate substandard water pressure for customers along and near the Oltorf Street corridor. This project will raise the level of service to meet Section 2.9 of the City of Austin’s Utilities Criteria Manual. This project will establish a new South Reduced Zone to increase the operating Hydraulic Grade Line in the defined area. The general route of this project is along West Oltorf Street and surrounding areas, generally between Congress Avenue and Schriber Street.
An independent, third-party appraisal was procured to establish the fair-market valuation of the proposed acquisition. The appraisal supports the purchase price of $115,035. The amount of the purchase price plus closing costs is not to exceed $119,000.