SUBJECT:
title
Approval of a resolution authorizing the President & CEO, or her designee, to finalize and execute a Purchase and Sale Agreement for the purchase of 0.5350 acres of Lot 1, Houston & Powell Addition, and 0.1480-acre of Lot 2, Houston & Powell Addition, tracts of land located at 621 North Pleasant Valley Road, Austin, Texas 78702, all other improvements, and any easements and rights appurtenant thereto, from Montwalk Holdings, Ltd. for new CapMetro facility, in an amount not to exceed $1,500,000 plus closing costs, as well as the payment of a broker fee to CBRE, Inc. in an amount not to exceed $7,480.
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FISCAL IMPACT:
Funding for this action is available in the FY2024 Capital Budget
STRATEGIC PLAN:
Strategic Goal Alignment:
☒ 1. Customer ☒ 2. Community
☒ 3. Workforce ☒ 4. Organizational Effectiveness
Strategic Objectives:
☐ 1.1 Safe & Reliable Service ☒1.2 High Quality Customer Experience ☒ 1.3 Accessible System
☒ 2.1 Support Sustainable Regional Growth ☐ 2.2 Become a Carbon Neutral Agency
☒ 2.3 Responsive to Community and Customer Needs ☒ 2.4 Regional Leader in Transit Planning
☐ 3.1 Diversity of Staff ☒ 3.2 Employer of Choice ☒ 3.3 Expand Highly Skilled Workforce
☒ 4.1 Fiscally Responsible and Transparent ☒ 4.2 Culture of Safety ☒ 4.3 State of Good Repair
EXPLANATION OF STRATEGIC ALIGNMENT: This proposed purchase will provide CapMetro with contiguous railroad right-of-way and parking to improve the CapMetro end-user experience and employee efficiency; aid in the recruitment of new, highly skilled employees by providing an improved work environment; and provide CapMetro with the flexibility to improve its existing operations at 2910 East 5th Street.
BUSINESS CASE: CapMetro provides transit services across the Austin region within the CapMetro service area. To help expedite arrival times and reduce non-revenue costs, additional land is being purchased to support service in eastern portions of its service area. This subject property is one of the few remaining vacant parcels in East Austin that is in close proximity to CapMetro’s new administration headquarters at 3100 E. 5th Street.
COMMITTEE RECOMMENDATION: This item will be presented to the full board on May 20, 2024.
EXECUTIVE SUMMARY: CapMetro is seeking an additional facility space in close proximity of its Operations and Maintenance facility (“SOPs”) located at 2910 E. 5th Street, to improve its ability to serve customers efficiently and enhance organizational effectiveness. The proposed location consists of two vacant lots that will improve the overall end-user and employee experiences and, in a transit acceptable location adjacent to the current CapMetro administrative offices and bus maintenance facility.
DBE/SBE PARTICIPATION: Does not apply.
PROCUREMENT: Does not apply.
RESPONSIBLE DEPARTMENT: Real Estate
RESOLUTION
OF THE
CAPITAL METROPOLITAN TRANSPORTATION AUTHORITY
BOARD OF DIRECTORS
STATE OF TEXAS
COUNTY OF TRAVIS
AI-2024-1155
WHEREAS, the Capital Metropolitan Transportation Authority (CapMetro) Board of Directors and CapMetro management recognize the need to protect the safety of all employees and CapMetro assets and provide facilities that meet all city, state, and federal code requirements; and
WHEREAS, the CapMetro Board of Directors and CapMetro management recognize the need to provide adequate and appropriate operations and maintenance facility for the workforce; and
WHEREAS, the CapMetro Board of Directors and CapMetro management recognize the need to make strategic real estate acquisitions to enable the future implementation of CapMetro’s sustainability, equity, and efficiency goals; and
WHEREAS, the purchase of 621 North Pleasant Valley Road, would improve organizational effectiveness and would improve the CapMetro end-user experience and provide CapMetro with the flexibility to improve its existing operations at 2910 East 5th Street; and
NOW, THEREFORE, BE IT RESOLVED by the Capital Metropolitan Transportation Authority Board of Directors that the President & CEO, or her designee, is authorized to finalize and execute a Purchase and Sale Agreement for the purchase of 0.5350 acres of Lot 1, Houston & Powell Addition, and 0.1480-acre of Lot 2, Houston & Powell Addition, tracts of land located at 621 North Pleasant Valley Rad, Austin, Texas 78702, all other improvements, and any easements and rights appurtenant thereto, from Montwalk Holdings, Ltd. for new CapMetro facility, in an amount not to exceed $1,500,000 plus closing costs, as well as the payment of a broker fee to CBRE, Inc. in an amount not to exceed $7,480.
____________________ Date: ____________________
Secretary of the Board
Becki Ross