ORDINANCE finding and determining that public convenience and necessity no longer require the continued use of a 10-foot-wide water line easement, located in the southern 1/2 tract of the Timer Trace Subdivision, Section 1, and being out of the Thomas Hoskins Survey, Abstract no. 342, Harris County, Texas; abandoning the easement to Cederpost Square, L. P., in consideration of its payment to the City of $46,222.00 and other good and valuable consideration - DISTRICT A - STARDIG

SUBJECT:  Abandonment and sale of a 10 foot-wide water line easement, located within the southern tract of the Timber Trace Subdivision, Section One, out of the Thomas Hoskins Survey, A-342.  Parcel SY17-061

RECOMMENDATION:  It is recommended City Council approve an ordinance authorizing the abandonment and sale of a 10 foot-wide water line easement, located within the southern tract of the Timber Trace Subdivision, Section One, out of the Thomas Hoskins Survey, A-342.  Parcel SY17-061

SPECIFIC EXPLANATION:  Sunny Grewal of ICMC Group, Inc., 8324 McAvoy Drive, Houston, Texas, 77057, on behalf of CedarPost Square, L.P., (Inside Beltway 2014 GP, LLC, General Partner, Miriam Wasserberg, Manager), the underlying fee owner, requested the abandonment and sale of a 10 foot-wide water line easement, located within the southern tract of the Timber Trace Subdivision, Section One, out of the Thomas Hoskins Survey, A-342.  The infrastructure requirements will be addressed during construction permitting.  The property owner, CedarPost Square, L.P., plans to construct single-family homes.

CedarPost Square, L.P., has completed the transaction requirements, has accepted the City's offer, and has rendered payment in full. 

The City will abandon and sell to CedarPost Square, L.P.:

Parcel SY17-061

5,135.73 square feet of water line easement                                    $46,222.00 (R)

Valued at $18.00 per square foot x 50%

TOTAL ABANDONMENTS AND SALE                                          $46,222.00

Therefore, it is recommended City Council approve an ordinance authorizing the abandonment and sale of a 10 foot-wide water line easement, located within the southern tract of the Timber Trace Subdivision, Section One, out of the Thomas Hoskins Survey, A-342.   

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Carol Ellinger Haddock, P.E., Director

Marjorie L. Cox

Assistant Director-Real Estate