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, additio...
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