STRATEGIC PRIORITY: Transportation & Infrastructure
AGENDA DATE: February 22, 2023
COUNCIL DISTRICT(S): 5
DEPARTMENT: Department of Public Works
EXECUTIVE: Dr. Robert Perez
______________________________________________________________________
SUBJECT
title
Authorize acquisition from Belinda Marsaw and Stephen D. Smith, of approximately 18 acres of land located near the intersection of Bruton Road and St. Augustine Drive for the Bruton Road - Racial Equity Project - Not to exceed $1,910,533.18 ($1,900,000.00, plus closing costs and title expenses not to exceed $10,533.18) - Financing: Equity Fund
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BACKGROUND
This item authorizes the acquisition from Belinda Marsaw and Stephen D. Smith, of approximately 18 acres of land located near the intersection of Bruton Road and St. Augustine Drive for the Bruton Road - Racial Equity Project. This property will be used for future infrastructure improvements and/or new commercial or housing development in the Pleasant Grove area as part of the Racial Equity Plan (REP). The consideration is based on an independent appraisal. There are no relocation benefits associated.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
This item has no prior action.
FISCAL INFORMATION
|
Fund |
FY 2023 |
FY 2024 |
Future Years |
|
Equity Fund |
$1,910,533.18 |
$0.00 |
$0.00 |
OWNERS
Belinda Marsaw
Stephen D. Smith
MAP
Attached