SPECIFIC EXPLANATION: The General Services Department recommends approval of a Purchase and Sale Agreement between Ali Choudhri (Seller) and the City of Houston (Purchaser), for the purchase of 76,483 square feet of land located at 3901 Woodchase Drive, for a purchase price of $1,070,762.00 plus additional acquisition expenses for the Houston Parks and Recreation Department (HPARD).
HPARD proposes to partner with the Westchase District for this land acquisition and future park development project. Council will be requested to approve an Interlocal Agreement with the Westchase District for the development, operation and maintenance of the future park, under a separate Council action. The City will purchase the land and the Westchase District will fund park design and construction as well as park operations and maintenance. The park will remain City property.
The following is a breakdown of expected costs:
$1,070,762.00
|
Purchase Price
|
4,370.00
3,000.00
|
Survey
Environmental Costs
|
700.00
|
Estimated Closing Costs
|
$1,078,832.00
|
Estimated Total
|
CIP FISCAL NOTE: There are no operating and maintenance costs for this acquisition, because it is expected that the City will enter into an Interlocal Agreement with the Westchase District for operation and maintenance of the future park.
Capital Project Information
See attached Form A for a breakdown of capital costs.
SM:HB:JLN:RB:npb
xc: Marta Crinejo, Jacquelyn L. Nisby, Anna Russell, Lisa Johnson & Luci Correa