To approve a real estate contract in the amount of $160,000 for the purchase of a Street, Utility, and Sidewalk Easement located at 1000 East Plano Parkway from Ronnie Rodriguez and Lorina Espinoza Rodriguez; and authorizing the City Manager to execute all necessary documents. Approved

On May 13, 2023, the Plano City Council approved the expenditure for engineering professional services for the Intersection Improvements - Plano Parkway and K Avenue project.

This easement is necessary for the installation of additional turn lanes and associated street improvements at the intersection of Plano Parkway and K Avenue to enhance traffic and pedestrian safety and improve traffic flow.  Following a third-party appraisal obtained by the city, negotiations with Mr. and Mrs. Rodriguez led to an agreed compensation amount of $160,000 for this easement acquisition.  Staff recommends approval.

The city is exempt from the competitive bid process for this purchase as allowed by Texas Local Government Code Chapter 252 Subchapter B Section 252.022(a)(6).

This memo was prepared in collaboration with the City of Plano's Engineering Department.

Funding for this item is budgeted in the 2024-25 Street Improvement CIP.  Authorization of the purchase of a Street, Utility, and Sidewalk Easement located at 1000 East Plano Parkway for the Intersection Improvements - Plano Parkway and K Avenue project in the amount of $160,000 will leave a current year balance of $277,833 for future expenditures.

Approval of this item will support the City's Strategic Plan Critical Success Factors of being an Excellent, Innovative, and Accountable City Government.