A. LAND ACQUISITION COST

Total Land Cost per Sq. Ft.

Total Cost Land Acquisition Cost

RECONNECT AUSTIN

Existing ROW NA

$0

TxDOT

32 Acres 400

$558,000,000

From the time of I-35’s original construction, TxDOT has consistently taken viable properties out of Total Cost RECONNECT AUSTIN TxDOT Cost Summary Austin’s tax base by eminent domain. TxDOT proposes to do this again for their next highway widening. Land Acquistion $0.00 $558,000,000 This is despite 9 years of assurances they would operate within their own Right Of Way (ROW), until Excavation $69,291,990 $101,902,250 now. Several months ago, they let it be known that they would indeed be taking more land to expand Retaining Wall Construction $18,057,600 $54,172,800 Cap & Stitches $1,498,482,000 $1,090,248,875 and rebuild I-35. Why this last minute flip-flop? All Lanes ($/lane mile) $60,800,000 $76,000,000 TxDOT published their plans to take 142 properties (32 acres of land) in Central Austin, with an esti- mate for the land only at $95.00/sq. ft. TxDOT’s documents do not mention an estimate of cost for the buildings, businesses or damages incurred. The land cost, according to real estate principals, usually equals +/- 20% of the total property value, i.e., $400.00/sq. ft. or $558 million in acquisition costs. RECONNECT AUSTIN’s proposal does not require any additional ROW. In fact, RECONNECT AUSTIN envisions using existing TxDOT ROW for new development.

Total Cost $1,646,631,590 $1,880,323,925

Portion of land TxDOT plans to take by Eminent Domain according to their proposed “Alternative-2” design.

If you overlay the published TxDOT Alternative 2 plan, showing the eminent domain takings, we have assumed that the 142 properties identified will be taken entirely, but TxDOT offers no insight into the true cost of that action. Yet, we do know that the following will be likely: • The land cost, according to real estate principals, usually equals +/- 20% of the total property value. • $95.00/sq. ft. land at 20% of the total property value =$400.00/sq. ft. for the total property. • Loss of local businesses and the cost of potential damages. • Costs of relocation of businesses, assuming they can in fact be successfully relocated. • Loss of most valuable land, i.e., frontage and landscaping. • The incredible cost of the legal battles due to eminent domain that will inevitably result, and taxpayers will pay.