HomeMy WebLinkAbout(0026) M&C 20-0337City of Fort Worth,
Mayor and
Texas
Council Communication
DATE: 05/19/20 M&C FILE NUMBER: M&C 20-0337
LOG NAME: 213230 CAMP BOWIE BOULEVARD .0035 AC ACQUISITION
SUBJECT
Authorize the Acquisition of a Fee Simple Interest for Right -of -Way for 0.0035 Acres of Land located at Lot 8, Block 1, the Vanzandt Hillside
Addition from Museum Place Block B, LTD. in the Amount of $7,550.00 and Pay Estimated Closing Costs up to $1,450.00 for the 2014 Traffic
Signals Year 4 Project (2018 Bond Program) (COUNCIL DISTRICT 7)
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the acquisition of a fee simple interest for right-of-way for 0.0035 acres of land located at Lot 8, Block 1, The Vanzandt
Hillside Addition from Museum Block B, LTD. in the amount of $7,550.00 for the 2014 Traffic Signals Year 4 Project (City Project No. 101369) ;
2. Find that the total purchase price of $7,550.00 for the subject property is just compensation;
3. Authorize payment of estimated closing costs up to $1,450.00; and
4. Authorize the City Manager or his designee to accept the conveyances and record the appropriate instruments.
DISCUSSION:
The acquisition of the property is needed for the construction of traffic signals at the intersection of Camp Bowie Blvd and Van Cliburn Way. As
part of the overall 2018 Bond Program, numerous street traffic signals and pedestrian improvements have been programmed for the area to
improve safety and mobility for adjacent land uses. The project includes a total rebuild of the existing signals at this intersection to bring them up to
standard, as well as a rebuild of the intersection's sidewalks and crosswalks to bring them into ADA compliance.
An independent appraisal established fair market value for the right-of-way parcel and the property owner has agreed to a negotiated amount of
$7,550.00 for the needed fee simple interest in the land. The real estate taxes will be pro -rated with the Seller being responsible for taxes due up
to the closing date. The City will pay total estimated closing costs in the amount up to $1,450.00. This project is included in the 2018 Bond
Program. Available resources within the General Fund will be used to provide interim financing until debt is issued. Once debt associated with the
project is sold, bond proceeds will reimburse the General Fund in accordance with the statement expressing official Intent to Reimburse that was
adopted as part of the ordinance canvassing the bond election (Ordinance No. 23209-05-2018) and subsequent actions taken by the Mayor and
Council.
Upon City Council approval, Staff will proceed with acquiring the fee simple interest in the property except for the mineral estate. The deed to the
City will contain surface waivers for the exploration of the mineral estate.
Property
parcel
Property Address / Legal Description
ROW/Fee
Amount
Ownership
Simple
Museum Place
1
3230 Camp Bowie Blvd / THE VANZANDT
0.0035 Acres
$7,550.00
Block B, LTD.
HILLSIDE ADDITION, Lot 8 Block 1
Total Estimated
Closing Costs
$1,450.00
Total
$9,000.00
This property is located in COUNCIL DISTRICT 7.
A Form 1295 is not required because: This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that funds are available in the current capital budget, as previously appropriated, in the 2018 Bond Program Fund
for the 2014 Traffic Signals Year 4 Project, to support the approval of the above recommendation and acquisition of the property. Prior to any
expenditure being incurred, the Property Management Department has the responsibility to validate the availability of funds.
Submitted for City Manager's Office by. Kevin Gunn 2015
Originating Business Unit Head: Steve Cooke 5134
Additional Information Contact: Roger Venables 6334
Burt Gonzales