DATE: September 27, 2019
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Paul Holzen, City Engineer/Director of Engineering
Jonathan Marston, Assistant Director of Engineering
Ben Worley, Right of Way Agent
SUBJECT:
title
Consideration of a Resolution 2019-104, A Resolution Authorizing the City Administrator and City Attorney to Finalize Right-of-Way and Easement Acquisition for Tracts 13, 25, 28 and 29, for the Franklin Road Improvements Project, in the total amount of $285,302. (9/24/19 CIC, 4-0)
body
Purpose
The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning Resolution 2019-104.
Background
Staff has worked with the property owners of Tracts 13, 25, 28 and 29 to acquire the required property for the Franklin Road Improvements Project and Board authorization is required prior to executing the necessary deeds and easements associated with the project.
Financial Impact
The purchase prices listed below are based on a property value market rate study prepared by R. Rhett Turner, certified appraiser, and was based on impacts associated with the proposed project.
$ 95,000 - Tract 13
$ 72,802 - Tract 25
$ 67,000 - Tract 28
$ 50,500 - Tract 29
$285,302 - Total
Initial expenditures for this project will be paid from the 2017 General Obligations Bond. This corresponds to the General Ledger (GL) codes of 311-89110-43100 and 311-89120-43100.
Recommendation
rec
Staff recommends approval of Resolution 2019-104.