SUBJECT
title
A Resolution of the City Council of the City of Laredo, to execute all necessary documents to purchase from SKG Loop Del Mar LLC, the “Surface Only” of a 0.2571 acres, approximately (11,199 square feet) in the amount of $257,577.00 plus 50% of the closing costs at an estimated amount of $3,000.Parcel of land, being out of SKG Loop Del Mar LLC., 39.32 acre tract recorded in Vol. 5178, Pg. 97, O.P.R.W.C.T, Porcion 25, Abs. 50, Juan Francisco Garcia O.G. City of Laredo, Webb County, Texas. Parcel being more particularly described and depicted in exhibit “A”. Funding is available in the 2019 and 2024 Certificate of Obligation Bonds. Providing for an effective date.
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PREVIOUS COUNCIL ACTION
N/A
BACKGROUND
The property is needed for the expansion of US Hwy 59, Loop 20 and Del Mar Expansion Project, to address the continued growth and development in north Laredo. The expansion of Bob Bullock Loop will also improve the traffic flow in the area.
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Staff recommends the approval of this Resolution as submitted.
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Fiscal Impact
Fiscal Year: 2025
Budgeted Y/N?: Y
Source of Funds: 2019 & 2024 C.O. Bonds
Account #: 473-9853-535-9101, 477-2790-535-9101
Change Order: Exceeds 25% Y/N: N
FINANCIAL IMPACT:
Funding is available in the 2019 and 2024 Certificate of Obligation Bonds. Project # TP2401.