|
|
|
STRATEGIC OUTCOMES |
|
ACTION |
|
Department: |
x |
Safe & Prosperous |
|
Motion |
|
City Attorney |
x |
Active & Appealing |
|
Resolution |
|
|
|
Respected & Responsible |
x |
Ordinance - Introduction |
|
Division: |
|
Connected & Engaged |
|
Ordinance - Adoption |
|
Administration |
|
Unique & Creative |
|
Public Hearing |
TITLE:
title
Acquisition of Union Pacific Railroad Property
end
SUMMARY RECOMMENDATION:
Summary Recommendation
Authorize the acquisition of approximately 14.32 acres of real property for future downtown redevelopment. (City Administrator) (Jay Simonton)
end
STRATEGIC OUTCOME:
This action supports City Council’s Safe and Prosperous and Active and Appealing strategic outcomes.
REPORT:
City Staff has negotiated a tentative agreement (Agreement) with the Union Pacific Railroad for the purchase of approximately 14.32 acres of real property (the Property) described through six legal descriptions and an attached location map between South Madison Avenue and Gila Street. Subject to 6 months of City due diligence, the cost of the acquisition is $1,715,000 or approximately $2.75 per square foot. This ordinance supersedes the prior ordinance, O2025-027, and includes authorization for acquisition via eminent domain.
This ordinance authorizes execution of the Agreement and acquisition of the Property.
FISCAL REQUIREMENTS:
|
CITY FUNDS: |
$ 1,715,000.00 |
BUDGETED: |
$ 2,000,000.00 |
|
STATE FUNDS: |
$ 0.00 |
AVAILABLE TO TRANSFER: |
$ 0.00 |
|
FEDERAL FUNDS: |
$ 0.00 |
IN CONTINGENCY: |
$ 0.00 |
|
OTHER SOURCES: |
$ 0.00 |
FUNDING ACCOUNT/FUND #/CIP: |
|
TOTAL |
$ 0.00 |
2025 CIP Bonds; General Fund |
FISCAL IMPACT STATEMENT:
Sufficient budget capacity is provided in the City Council approved FY 2027 Budget and FY 2027-2031 Capital Improvement Program.
ADDITIONAL INFORMATION:
SUPPORTING DOCUMENTS NOT ATTACHED TO THE CITY COUNCIL ACTION FORM THAT ARE ON FILE IN THE OFFICE OF THE CITY CLERK:
NONE
IF CITY COUNCIL ACTION INCLUDES A CONTRACT, LEASE OR AGREEMENT, WHO WILL BE RESPONSIBLE FOR ROUTING THE DOCUMENT FOR SIGNATURE AFTER CITY COUNCIL APPROVAL?
|
|
Department |
|
|
City Clerk’s Office |
|
|
Document to be recorded |
|
|
Document to be codified |
|
Acting City Administrator: |
Date: |
|
John D. Simonton |
10/12/2026 |
|
Reviewed by City Attorney: |
Date: |
|
Richard W. Files |
10/12/2026 |