STRATEGIC PRIORITY: Mobility Solutions, Infrastructure, and Sustainability
AGENDA DATE: August 12, 2020
COUNCIL DISTRICT(S):|910|DEPARTMENT: Department of Sustainable Development and Construction
EXECUTIVE: Majed Al-Ghafry
______________________________________________________________________
SUBJECT
title
Authorize acquisition from the Heirs At Law of the estate of Totsie Irene Farley, deceased; the Heirs At Law of the Estate of Marion Adoree Farley Smith, deceased; Caressa Jean Smith Holder, as her interest may appear and the Heirs At Law of the Estate of Frederick Alexander Smith, deceased, as their interest may appear, of approximately 473,497 square feet of land located near the intersection of Master Drive and Old Seagoville Road for the District 5 New Park at Masters Drive Project - Not to exceed $574,000.00 ($568,196.00, plus closing cost and title expenses not to exceed $5,804.00) - Financing: Park and Recreation Facilities (B) Fund (2017 General Obligation Bond Funds)
body
BACKGROUND
This item authorizes the acquisition from the Heirs At Law of the estate of Totsie Irene Farley, deceased; the Heirs At Law of the Estate of Marion Adoree Farley Smith, deceased; Caressa Jean Smith Holder, as her interest may appear and the Heirs At Law of the Estate of Frederick Alexander Smith, deceased, as their interest may appear, of approximately 473,497 square feet of land located near the intersection of Master Drive and Old Seagoville Road for the District 5 New Park at Masters Drive Project. This property will be used for the future construction and use as a new park site. The consideration is based on independent appraisals. No relocation costs are associated.
The estimated loss of annual tax revenue to the City is $678.75; the projected annual operating and maintenance amount is $10,300.00.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On June 18, 2020, the Park and Recreation Board authorized the acquisition from Caressa Holder.
FISCAL INFORM...
Click here for full text