Presenter/Contact
Presenter
Matthew Eckmann, Real Estate Manager
Contact Info
(830) 221-4089 - meckmann@nbtexas.org
Subject Header
SUBJECT:
Title
Discuss and consider approval of additional expenditures for acquisition funds for the purchase of necessary properties on the Solms/Morningside Rueckle Road Reconstruction Project and Klein Road Reconstruction Project.
Body
BACKGROUND / RATIONALE:
On February 13, 2017, City Council approved acquisition funds in the amount of $750,000.00 to acquire the necessary parcels for the Solms/Morningside/Rueckle Road Reconstruction Project. Due to rising real estate costs in the area, additional funds in the amount of $400,000.00 are requested.
On March 27, 2017, City Council approved acquisition funds in the amount of $300,000.00 to acquire the necessary parcels for the Klein Road Reconstruction Project. Due to rising real estate costs in the area, additional funds in the amount of $550,000.00 are requested.
ADDRESSES A NEED/ISSUE IN A CITY PLAN OR COUNCIL PRIORITY:
|
X |
Yes |
City Plan/Council Priority: |
Strategic Priorities: Continue an ongoing program of infrastructure construction and maintenance. |
FISCAL IMPACT:
Expenditures associated with right-of-way acquisition are a component of the Solms/Morningside/Rueckle Road Reconstruction Project and the Klein Road Reconstruction Project. Therefore, sufficient funds are available to approve the acquisition funds as described above.
Recommendation
COMMITTEE RECOMMENDATION:
N/A
STAFF RECOMMENDATION:
Staff recommends approval of acquisition funds for the Solms/Morningside/Rueckle Road Reconstruction Project and Klein Road Reconstruction project.