The details
The three tracts of land, totaling 49 acres, are being purchased by the Texas Department of Transportation as part of the right-of-way acquisition process for the Spur 399 extension project.
Two of the properties are located directly south of McKinney National Airport, and the third is located roughly 1 mile east of the airport.
The sale totals nearly $7.85 million for the three properties, as well as $25,000 per tract to fund the creation of possession and use agreement documents, according to city documents. The land value and sale price was determined through a standardized process, McKinney Director of Engineering Gary Graham said at the meeting.
The process included:
- An initial offer made by the buyer
- City staff acquiring an independent appraisal that determines the fair market value of the properties
- Negotiations between city staff and the buyer
The Spur 399 project will connect from SH 121, US 75 and SH 5 in south McKinney to US 380 just east of McKinney.
The project will extend from the existing Spur 399, which is a roughly half-mile of road that serves as a transition between SH 121 and SH 5, according to TxDOT. The selected route, referred to as the Orange Alternative, was identified in a record of decision issued in March. The selected route makes a loop around McKinney National Airport to the south and east.
