Agenda

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AI- 46976

Commissioners Court

Meeting Date:	08/19/2019
Purchase of Right of Wayand Acceptance of Donation of Real Propertyfor the Outer Loop
Submitted For:	Jeff Durham	Submitted By:	Teresa Nelson
Department:	Special Projects
Request Type:	CONSENT	Agenda Area:	Miscellaneous

Information

Department Action

The Engineering Department is acquiring right-of-way needed for the future Collin County Outer Loop between State Highway No. 289 (Preston Road) and F.M. Highway No. 2478 (Custer Road).

Belknap F.P. Ltd. owns approximately 318 acres on the north side of County Road 88 between County Road 87 (Future Coit) and F.M. Highway 2478. We are acquiring 54.937 acres of right-of-way across their property.

Our appraisal valued the property at $55,000 per acre or $3,021,535. The Belknap’s recently received an offer of $61,000 an acre for their property. As such, they have agreed to and proposed a purchase price of $60,000 per acre or $3,296,220 for the CCOL right-of-way tract.

The Belknap’s have also agreed to donate a portion of the required right-of way (12.2 acres or $732,000) along their northern property line. Exhibits showing the right-of-way to be acquired and donated are included with the attached Court Order.

Commissioner’s Court’s authorization to purchase 42.737 acres of the Belknap’s property for $2,564,220 and accept a donation of 12.2 acres in accordance with the attached Court Order is requested

We will be available to answer any questions you might have regarding this matter.

Purchasing Department Action

No action by Purchasing.

HR and/or IT Action

Budget Department Action

Budgeted funds available in the amount of $2,564,220 for the purchase of 42.737 acres and the donation of 12.2 acres of Right of Way for the Collin County Outer Loop. 2018 Bond Fund (4215).

Auditor's Office Action

Bond funds available.

Commissioners Court

Purchase of 42.737 acres and accept the donation of 12.2 acres of right of way for the Collin County Outer Loop, Special Projects.

Budget Information

Information about available funds

Budgeted:

Funds Available:

Adjustment:

Amount Available:

$2,564,220

Unbudgeted:

Funds NOT Available:

Amendment:

Account Code(s) for Available Funds
1:	RI18OL002 4215-750300013- 809682

Fund Transfers

Remarks:

Attachments
Court Order
agenda memo
Court Order
Exhibit A
Exhibit B