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Discussion and action regarding TDOT offer to acquire real property Hwy 70W
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SUMMARY: In order to complete the Obed River Bridge project on Hwy 70W, TDOT is requesting to purchase portions of two parcels containing .097 Ac., which front on the north side of Sparta Hwy at the Wastewater Treatment Plant. TDOT has offered $16,225 (rounded) unless the City chooses to donate the property. The breakdown is as follows:
Fee Acquisition Area $12,950
Fencing $1,275
Gravel Parking Area $310
Asphalt Driveway $750
Damages $907
As a part of this project, TDOT has agreed to leave a 12-foot wide flat area in the slope or at the bottom of the slope that will be crossing under the bridge for future greenway construction, which is depicted in the attached drawing. Staff recommends that the 12-foot wide area be a contingency of the transaction.
BUDGET ACCOUNT:
Recommended Action
NECESSARY COUNCIL ACTION: Discuss offer