SUBJECT
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A Resolution Authorizing the City Manager to enter into a Possession and Use Agreement with TxDOT. This agreement will allow the State to proceed with its Highway US 59 Construction Project without delay, and the State has approved to offer the City of Laredo a compensation in the maximum amount of $25,000.00 in consideration for the possession and use of City Property and represents no part of the State's (TxDot) compensation to be paid for the anticipated purchase of the Property and will not be refunded to the State upon any acquisition of the Property by the State (TxDot). Funds are to be placed in an escrow account within the Airport Operations Fund.
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PREVIOUS COUNCIL ACTION
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BACKGROUND
On January 22, 2024, Council passed Ordinance 2023-O-231 authorizing the City Manager to execute all necessary documents between the City Of Laredo and The Texas Department Of Transportation (TXDOT), to effectively convey the "surface only" of a 7.498 acre tract, as right-of-way, for the expansion of US Highway 59, for a fair market value of $3,876,968. Said tract is legally described as, a parcel of land located in the Dona Maria Gertudis Sanches Procion No. 27, Abstract No. 284, and in the Jane Guyman Survey No. 1714, Abstract No. 517, Webb County, Texas, being out of that certain 1,249.23 acre tract, conveyed from the United States Of America to the City Of Laredo in an Indenture executed February 25, 1975, recorded in Volume 478, Page 471, Deed Records Of Webb County, Texas. Being also out of a 152.076 acre tract described as Lot 1, Block 1, Of Laredo International Airport Passenger Terminal Subdivision, as platted in Volume 15, Page 45, Map Records Of Webb County Texas. This Resolution is to place $25,000 into an escrow account to allow for TxDot to move forward with the project without the City yet conveying the Deed.
COMMITTEE RECOMMENDATION
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STAFF RECOMMENDATION
recommendation
Approval of this Resolution
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Fiscal Impact
Fiscal Y...
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