SUBJECT
title
A Resolution of the City Council of the City of Laredo, to execute all necessary documents to purchase two Billboard Signs from Lamar Advertising Company for $107,996.00, plus an estimated amount of $2,000.00 in closing costs. The billboard signs are currently situated in the proposed future State Highway 84 right-of-way. Funding is available in the Capital Improvement Fund and providing for an effective date.
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PREVIOUS COUNCIL ACTION
Executive item 24-0259
BACKGROUND
The City of Laredo is partnering with the Texas Department of Transportation for the development of State Highway 84, stretching from FM 1472 to IH 35. This project aims to alleviate traffic congestion and improve mobility. As per the Affordable Funding Agreement (AFA), the City of Laredo will bear 100% responsibility for acquisition for the Right-of-way.
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Staff recommends the approval of this resolution
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Fiscal Impact
Fiscal Year: 2024
Budgeted Y/N?: Yes
Source of Funds: Capital Improvement Fund
Account #: 402-4310-533-2010
Change Order: Exceeds 25% Y/N: N/A
FINANCIAL IMPACT:
402-4310-533-2010 Project: HACH5L