SUBJECT: Ordinance authorizing the abandonment and sale of a 10-foot-wide utility easement, being out of Lots 8 through 12, located within Block 1 of the Atwood Villas Subdivision, out of the William White Survey. Parcel SY15-118.
RECOMMENDATION: (Summary) It is recommended City Council approve an ordinance authorizing the abandonment and sale of a 10-foot-wide utility easement, being out of Lots 8 through 12, located within Block 1 of the Atwood Villas Subdivision, out of the William White Survey. Parcel SY15-118.
SPECIFIC EXPLANATION: Kathy Savell, The Pinnell Group, LLC, 26730 Interstate 45 North, Spring, Texas, 77386, on behalf of Richmond Loop Plaza, Ltd., (Andrew Bernstein, President), requested the abandonment and sale of a 10-foot-wide utility easement, being out of Lots 8 through 12, located within Block 1 of the Atwood Villas Subdivision, out of the William White Survey. Richmond Loop Plaza, Ltd., abutting property owner, plans to construct a new hotel and retail development over the abandonment area. The Joint Referral Committee reviewed and approved this request.
Richmond Loop Plaza, Ltd., has complied with the transaction requirements, has accepted the City’s offer, and has rendered payment in full.
Parcel SY15-118
2,288 square-foot utility easement: $97,240.00
Valued at $42.50 per square foot
TOTAL ABANDONMENT AND SALE $97,240.00
Therefore, it is recommended City Council approve an Ordinance authorizing the abandonment and sale of a 10-foot-wide utility easement, being out of Lots 8 through 12, located within Block 1 of the Atwood Villas Subdivision, out of the William White Survey.