| | | | | | | |  | CITY OF PLANO
COUNCIL AGENDA ITEM |
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| | | | | | | | Council Meeting Date: 9/10/2018
Department: Engineering
Department Head: B. Caleb Thornhill
Agenda Coordinator: Libby McCabe |
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CAPTION
To approve an expenditure for the purchase of three Street, Sidewalk, and Utility Easements; and three Temporary Construction Easements in the amount of $92,663 from Realty Income Properties 25, LLC for Legacy Drive at Parkwood Boulevard and Coit Road between SH 190 and Mapleshade Lane, Project No. 6610; and authorizing the City Manager to execute all necessary documents. Approved |
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FINANCIAL SUMMARY CIP
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FISCAL YEAR:
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2017-18
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Prior Year
(CIP Only)
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Current
Year
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Future
Years
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TOTALS
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Budget
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72,250
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1,346,456
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1,000,000
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2,418,706
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Encumbered/Expended Amount
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-72,250
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-209,974
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0
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-282,224
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This Item
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0
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-92,663
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0
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-92,663
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BALANCE
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0
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1,043,819
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1,000,000
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2,043,819
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FUND(S): Street Improvements CIP
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COMMENTS: Funding for this item is available in the 2017-18 Street Improvement CIP, with additional funding planned in the Proposed 2018-19 CIP. Purchase of Street, Sidewalk and Utility Easements and Temporary Construction Easements for the Legacy Drive at Parkwood Boulevard and Coit Road between SH 190 and Mapleshade Lane Project No. 6610, in the amount of $92,663, will leave a project balance of $2,043,819 available for future project expenditures. |
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SUMMARY OF ITEM
The Engineering Department recommends approval of an expenditure in the amount of $92,663 for the purchase of three Street, Sidewalk and Utility Easements and three Temporary Construction Easements as shown on the table below. The acquisition of easements is needed for the construction of turn lanes along Coit Road between SH 190 and Mapleshade Lane, and an additional through lane on eastbound Mapleshade Lane (Project No. 6610).
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Realty Income Properties 25, LLC EASEMENT
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E3
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Purchase Price
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Street, Sidewalk and Utility Easements, Temporary Construction Easements
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$48,184.80
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E4
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Purchase Price
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Street, Sidewalk and Utility Easements, Temporary Construction Easements
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$28,348.09
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E5
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Purchase Price
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Street, Sidewalk and Utility Easements, Temporary Construction Easements
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$16,130.40
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Total
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$92,663.29
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Not approving the expenditure would result in continued traffic congestion at the intersection having a negative impact on the quality of life for motorists in this area.
Strategic Plan Goal:
Financially Strong City with Service Excellence, Great Neighborhoods - 1st Choice to Live
Plano Tomorrow Plan Pillar:
Built Environment, Economic Environment |
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