Title
Consider a memorandum/resolution authorizing the execution of a Land Purchase Agreement with Brightspeed of Texas, Inc., for the Highway 195 Ground Storage Tank Project.
Body
DATE: January 21, 2025
TO: Kent Cagle, City Manager
FROM: Wallis Meshier, Interim Executive Director of Development Services
SUBJECT: Authorize the execution of a Land Purchase Agreement with Brightspeed of Texas, Inc. for the Highway 195 Ground Storage Tank Project
BACKGROUND AND FINDINGS:
The 2019 Water and Wastewater Master Plan includes a project for the construction of a 1.5 million-gallon (MG) ground storage tank which will be located on a hill near Highway 195 and Tower Hill Lane. The City currently owns a tract of land on this hill that houses two small ground storage tanks which will be removed for the construction of the 1.5 MG tank. This larger tank which will provide added water storage and pressure maintenance in the western half of the city will require a larger tract of land.
Brightspeed of Texas, Inc. owns two tracts of land adjacent to the City-owned tract which, added to the City's tract, will provide adequate land for the building of the proposed 1.5 MG tank and a possible future tank.
City staff received an appraised value of these two tracts of land and made an offer of $73,000 for the purchase of these two tracts of land. Brightspeed accepted the offer and provided the proposed Land Purchase Agreement.
THE ALTERNATIVES CONSIDERED:
N/A
Which alternative is recommended? Why?
N/A
CONFORMITY TO CITY POLICY:
This item conforms to state and local policies.
FINANCIAL IMPACT:
What is the amount of the revenue/expenditure in the current fiscal year? For future years?
Total amount of $73,000 will be encumbered in fiscal year (FY) 2025.
Is this a one-time or recurring revenue/expenditure?
One-time
Is this revenue/expenditure budgeted?
Yes, funds are available in account #354-56500-900-400-922001, 2020 W&S Bond, Land/ROW.
If not, where wi...
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