Town Lake Drive Property Exchange

1. Regular Agenda Item 5.1
Town Lake Drive
Property Exchange

3. History
• City purchased tract in 2003 for extension of Barron
Road as a possible off-set intersection
• City completed a preliminary engineering report in 2014
to investigate and recommend alignment options for
Barron Road based upon existing constraints
• Connectivity achieved through other connections such as
Town Lake Drive and Corporate Parkway

5. Summary
• Ordinance exchanging property
• Both tracts are approximately 1 acre in size
• Properties are of equal value
• For future alignment of Town Lake Drive
• Ordinance goes into effect after purchase of Wheeler
tracts by RCSZ Properties, LLC
• Authorizes the City Manager to execute Real Property
Exchange Agreement