SUBJECT: PROPERTY: PURCHASE of Parcel AY16-097, located at 4701 West 34th Street for the Watonga Paving and Drainage Project.
WBS N-000811-0001-2-01
Owner: HUE JWR LLC, a Texas limited liability company (Thu Binh Si Ho, Owner)
RECOMMENDATION: (Summary)
Authority be given through Council Motion to PURCHASE Parcel AY16-097.
SPECIFIC EXPLANATION:
The Watonga Paving and Drainage Project (from West 34th Street to West 43rd Street) is part of the City’s Street and Traffic Capital Improvements Project (CIP), and is needed to meet City of Houston design and safety standards and improve traffic mobility circulation, mobility and drainage in the service area.
The City will acquire 76 square feet in easement out of improved commercial property. The City’s offer was based on an appraisal by Gary S. Brown, MAI. The valuation was reviewed and recommended for approval by a senior staff appraiser of this department. The breakdown is as follows:
Parcel AY16-097 (Easement)
| LAND: |
|
| 76 square feet @ $27.00 PSF.................... |
$ 2,052.00 |
| Improvements………………….................... |
$43,193.00 |
| Cost to Cure……………………................... |
$10,748.00 |
| Total Consideration………..………….......... |
$55,993.00 |
| Title Policy and Services…………………... |
$ 1,353.00 |
| TOTAL AMOUNT………………………...... |
$57,346.00 |
It is recommended that authority be given through Council Motion to PURCHASE the land and improvements thereon for Parcel AY16-097 located at 4701 West 34th Street, owned by HUE JWR, LLC, a Texas limited liability company, (Thu Binh Si Ho, Owner).
The parcel contains 76 square feet of land and improvements thereon for a street right-of-way easement situated in the John Flowers Survey, Abstract 269, located in Harris County, Texas, and recorded under file 20160157384 of the Official Public Records of Real Property (O.P.R.R.P.) of Harris County, Texas according to City of Houston approved field notes.