Title
Consider/Discuss/Act on a Resolution Authorizing the Interim City Manager to Execute a Real Estate Contract with South 720, LP for the Purchase of Two Tracts of Land (Tracts 1 and 2) to be Utilized for Fire Station # 9 to be Located in the Area of Lake Forest Drive and Summit View Drive
Summary
COUNCIL GOAL: Safe and Secure Community
MEETING DATE: October 20, 2015
DEPARTMENTS: Fire Department
Development Services Department
CONTACTS: Danny Kistner - Fire Chief
Patricia L. Jackson, PE - Facilities Construction Manager
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Resolution.
ITEM SUMMARY:
• This Resolution authorizes the Interim City Manager to execute a real estate contract for land acquisition of Tracts 1 and 2 to be utilized for Fire Station # 9 to be located on the east side of Lake Forest Drive and north of the extension of Summit View Drive for an amount not to exceed $761,342.
• The McKinney Fire Department Master Fire Station Location Plan identified the need for a fire station to be located exactly at the intersection of Lake Forest Drive and Summit View Drive or within ¼ mile of that area.
• The desired three apparatus bay fire station requires the acquisition of approximately 2.5 acres along with an additional approximately ½ acre for the roadway.
• Acquisition of the land at this time will allow the architectural and engineering design of Fire Station # 9 to proceed.
BACKGROUND INFORMATION:
• City staff met with the property owner’s representative for discussions to acquire approximately three acres total for the fire station and roadway.
• The actual surveyed land area of 2.991 acres is comprised of three tracts of land owned by two different entities including Brinkmann Ranches of Collin County, LP and South 720, LP; J. Baxter Brinkmann is a general partner in each of these entities.
• The first tract of land is 0.491 acres (Tract 1) and will be utilized for the roadway portion of the project to extend Summit View Drive to the east of Lake Forest Drive the length of the fire station site.
• The second and third tracts of land are 1.451 acres (Tract 2) and 1.049 acres (Tract 3) respectively and will be utilized for the site and construction of the fire station itself.
• Appraisal Source, Inc. (ASI) performed an appraisal of the subject property in April, 2015 and utilized the Sales Comparison Approach as the most appropriate method for appraising the vacant land and valued the land at $9.00 per square foot.
• The purchase price of Tract 1 (0.491 acres) plus Tract 2 (1.451 acres), both owned by South 720, LP, for $761,342 is calculated to be $9.00 per square foot.
• The purchase price of Tract 3 (1.049 acres) owned by Brinkmann Ranches of Collin County, LP, for $411,250 is calculated to be $9.00 per square foot.
FINANCIAL SUMMARY:
• Funds for the acquisition of Tract 1 and 2 were approved in the Capital Improvements Program Project FI3244 - Fire Station # 9 from the Fire Improvement Fund.
BOARD OR COMMISSION RECOMMENDATION:
• N/A