Resolution - Lubbock Power & Light: Consider a resolution approving an Electric Utility Easement by and between Pyco Industries, Inc. and the City of Lubbock, a Texas home-rule municipal corporation, regarding an approximately 0.1316-acre tract of land, more or less, being a portion of Block 36, Coronado Addition to the City of Lubbock, according to the map, plat, and/or dedication deed recorded in Volume 930, Page 195, deed records of Lubbock County, Texas, and a portion of Block 71, Wheelock's Second Addition to the City of Lubbock, according to the map, plat, and/or dedication deed thereof recorded in Volume 26, Page 46, deed records of Lubbock County, Texas, to be used for electric lines and/or facilities.
Item Summary
The acquisition of the above described easement is necessary for the expansion of the LP&L Co-op Substation. The easement is located at approximately East Coronado Drive and Juniper Avenue. The City had an appraisal of the easement prepared by O'Brien Right of Way Valuation. The appraised fair market value of the easement, plus the damages that will be incurred upon the remainder of the landowner's property, is $1,277 ("Total Compensation").
The purchase price for the Electric Utility Easement attached to the resolution under consideration, is in the amount of the Total Compensation.
Fiscal Impact
Funds for this $1,277 purchase are available in Account 92727 (Substation Capacity Upgrade- Co-op),for this purpose.
Staff/Board Recommending
David McCalla, Director of Electric Utilities Electric Utility Board