SUBJECT
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A Resolution of the City Council of the City of Laredo, to execute all necessary documents to purchase from FM 1472 Investments, Inc. The “Surface Only” of a 0.2358 acres (10,271 square feet) for $85,000. Parcel of land, located in the Santiago Sanchez Porcion 12, Abstract 278, Webb County, Texas, being part of a called 22.4543-acre tract, also known as tract 1, conveyed from Nixon Ranch Partnership to FM 1472 Investments, Inc. Described in document 1337924 of the official public records of Webb County, Texas. Parcel being more particularly described and depicted in exhibit “A”. Funding is available in the City of Laredo, Land account. Providing for an effective date.
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PREVIOUS COUNCIL ACTION
Executive item 24-0259 to discuss acquisition of parcels for a proposed road designated as SH 84.
BACKGROUND
The City of Laredo is partnering with the Texas Department of Transportation for the development of State Hwy 84. Stretching from FM 1472 to IH 35. This project aims to alleviate traffic congestion and improve mobility. The amount negotiated is more than the appraised value. As per the Affordable Funding Agreement (AFA) the City of Laredo will bear 100% responsibility for the Right-of-way.
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
The approval of this Resolution
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Fiscal Impact
Fiscal Year: 2025
Budgeted Y/N?: Y
Source of Funds: Capital Improvement Fund
Account #: 402-4310-535-9101
Change Order: Exceeds 25% Y/N: N/A
FINANCIAL IMPACT:
402-4310-535-9101 Project HACH5L.