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File #:
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2024-R-110
Version:
1
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Type:
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Resolution
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Status:
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Passed
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On agenda:
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3/18/2024
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Final action:
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3/18/2024
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Title:
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Authorizing the City Manager to accept the charitable donation of a 213.42-acre (9,296,660 sq. ft.) tract from the Reuthinger Living Trust and The Reuthinger Residue Trust, at the estimated value amount of $15,547,677.00. Property located in the Tomas Sanchez Porcion Number 11, Abstract Number 279, Tomas Sanchez Porcion Number 10, Abstract Number 280, Blas Maria Diaz Porcion Number 9, Abstract Number 41, being out of and part of the residue of all of Porcion 11 (called 5,313.60-acre tract), also known as Tract Three, the residue of a called 4,106.8-acre tract, also known as Tract Five, and the residue of a called 3,180-acre tract, also known as Tract Four (Reuthinger Tract), conveyed to the Reuthinger Living Trust and the Reuthinger Residue Trust, Webb County, Texas, being more particularly described and depicted in the attached exhibit "A". The City has agreed to pay $217,586.00 in damages, and an estimated amount of $60,000.00 in closing cost fees. Funding is available in the Capital...
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Attachments:
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1. Exhibit A, 2. Resolution
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SUBJECT
title
Authorizing the City Manager to accept the charitable donation of a 213.42-acre (9,296,660 sq. ft.) tract from the Reuthinger Living Trust and The Reuthinger Residue Trust, at the estimated value amount of $15,547,677.00. Property located in the Tomas Sanchez Porcion Number 11, Abstract Number 279, Tomas Sanchez Porcion Number 10, Abstract Number 280, Blas Maria Diaz Porcion Number 9, Abstract Number 41, being out of and part of the residue of all of Porcion 11 (called 5,313.60-acre tract), also known as Tract Three, the residue of a called 4,106.8-acre tract, also known as Tract Five, and the residue of a called 3,180-acre tract, also known as Tract Four (Reuthinger Tract), conveyed to the Reuthinger Living Trust and the Reuthinger Residue Trust, Webb County, Texas, being more particularly described and depicted in the attached exhibit “A”. The City has agreed to pay $217,586.00 in damages, and an estimated amount of $60,000.00 in closing cost fees. Funding is available in the Capital Improvement Fund. 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 Right-of-Way acquisitions. This parcel is identified as Parcel 6.
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Staff recommends the approval of this resolution
end
Fiscal Impact
Fiscal Year: 2024
Budgeted Y/N?: Yes
Source of Funds: Capital Improvement Fund
Account #: 402-4310-535-9101
Change Order: Exceeds 25% Y/N: N/A
FINANCIAL IMPACT:
Funding is available in the Capital Improvement Fund Project HACH5L
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