An ordinance abandoning a portion of X-Ray Lane to C2R Buffalo Speedway, LLC, the abutting owner, containing approximately 24,416 square feet of land, located near the intersection of Camp Wisdom Road and Farm-to-Market 1382; and authorizing the quitclaim and providing for the dedication of approximately 8,396 square feet of land needed for a water and wastewater easement - Revenue: General Capital Reserve Fund ($63,014.00) and General Fund ($20,000.00), plus the $20.00 ordinance publication fee

This ordinance abandons a portion of X-Ray Lane, approximately 24,416 square feet, to the abutting owner, C2R Buffalo Speedway, LLC. In exchange, the city will receive $83,014.00 in monetary consideration, which will be deposited into the General Fund and General Capital Reserve Fund. Additionally, C2R Buffalo Speedway, LLC will convey approximately 8,396 square feet of land to the City of Dallas for a water and wastewater easement. The abandonment is subject to conditions, including the filing of a final replat of adjoining properties and the dedication of the easement. The ordinance also includes provisions for indemnification of the City against damages and specifies a future effective date for the abandonment upon completion of these conditions. The total revenue for the city from this transaction is $83,014.00 plus a $20.00 ordinance publication fee.

This action will result in the abandonment of a portion of X-Ray Lane to a private entity, with the city receiving funds and a new water and wastewater easement. Residents will not experience direct impacts on public street access as the abandoned portion is adjacent to private property and the city is securing necessary utility easements.

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