It is recommended that the City Council:

1.  Authorize the acquisition of a fee simple interest 0.1434 acres of land in vacant lots for the East Como Channel Improvements Project located at 5202 Humbert Avenue, Fort Worth,Texas, from John Dial;

2.  Find that the total purchase price in the amount of $9,375.00 is just compensation; and

3.  Authorize the acceptance of the conveyance, the recording of the appropriate instrument and payment of the estimated closing costs in the amount up to $2,000.00.

The land acquisition and subsequent construction project are necessary to address residential property flooding, road overtopping, and existing low water crossings in the East Como area. The flooding, road overtopping, and existing low water crossings are caused by undersized and inadequate channel capacity and will be addressed by adding new box culverts and channel improvements to convey a 100-year flood event.

An independent appraisal was acquired and John Dial has agreed to the appraised value of $9,375.00. The real estate taxes will be pro-rated with the seller being responsible for taxes due up to the closing date. The City will pay closing costs in the amount up to $2,000.00.

The land for this project will be purchased using funding from revenue bonds in the Stormwater Capital Projects Bond Fund.

Upon City Council approval, Staff will proceed with acquiring the fee simple interest in the property except for the mineral estate. The deed to the City will contain a surface waiver for exploration of the mineral estate.