SUBJECT: PROPERTY: Purchase of Parcels AY17-201, AY17-202 and AY17-203 located at the intersections of Greenbriar Drive, Rice Boulevard, and University Boulevard for the Greenbriar Street Paving and Drainage Project (from Rice Boulevard to West Holcombe).
RECOMMENDATION: (Summary) Authority be given through Council Motion to PURCHASE Parcels AY17-201, AY17-202, and AY17-203.
SPECIFIC EXPLANATION:
The Greenbriar Street Paving and Drainage Project (from Rice Boulevard to West Holcombe) provides for the right-of-way acquisition, design and reconstruction of a 4-lane non-divided roadway from Rice Boulevard to University Boulevard and reconstruction of a 3-lane non-divided concrete roadway from University Boulevard to Sheridan. This project will be designed and constructed to improve traffic circulation, drainage and safety in the service area.
The City will acquire 305 square feet of land on Parcel AY17-201, 312 square feet of land on Parcel AY17-202, and 315 square feet of land on Parcel AY17-203. The City’s offer was based on an appraisal by Michael J. Urban, MAI, SRA. The property owner presented a counteroffer of $125.00 PSF (land value) for each parcel. The counteroffer request was reviewed and accepted by Real Estate Services in order to avoid the additional litigation expense incurred by the City when acquiring property via condemnation and the resulting delay of the project. The breakdown of the purchase amount is as follows:
Parcel AY17-201 (Fee)
LAND
| 305 Square Feet @ $110.00 PSF...…………………………………………… |
$33,550.00 |
| 305 Square Feet @ $ 15.00 PSF (negotiated increase)…………………… |
$ 4,575.00 |
| Improvements...…………………………………………………………………. |
$ 550.00 |
| TOTAL CONSIDERATION FOR PARCEL AY17-201...……………………. |
$38,675.00 |
Parcel AY17-202 (Fee)
LAND
| 312 Square Feet @ $120.00 PSF...…………………………………………… |
$37,440.00 |
| 312 Square Feet @ $ 5.00 PSF (negotiated increase)…………………… |
$ 1,560.00 |
| TOTAL CONSIDERATION FOR PARCEL AY17-202...…………………….. |
$39,000.00 |
Parcel AY17-203 (Fee)
LAND
| 315 Square Feet @ $110.00 PSF...…………………………………………… |
$34,650.00 |
| 315 Square Feet @ $ 15.00 PSF (negotiated increase)…………………… |
$ 4,725.00 |
| Improvements...………………………………………………………………….. |
$ 649.00 |
| TOTAL CONSIDERATION FOR PARCEL AY17-203...…………………….. |
$40,024.00 |
| TOTAL CONSIDERATION FOR PARCELS AY17-201 through AY17-203. |
$117,699.00 |
| Title Policy and Services...……………………………………………………… |
$ 2,000.00 |
| TOTAL AMOUNT...…….……………………………………………………….. |
$119,699.00 |
It is recommended that authority be given through Council Motion to PURCHASE the land and improvements thereon for Parcels AY17-201, AY17-202 and AY17-203 located at the intersections of Greenbriar Drive, Rice Boulevard, and University Boulevard, owned by the William Marsh Rice University.
Parcel AY17-201 contains 0.0070 acres or 305 square feet of land situated in the Obedience Smith Survey, Abstract No. 696, Harris County, Texas, being out of and a part of a called 14,474 Sq. Ft. tract conveyed to the William M. Rice Institute as described in a deed recorded Vol. 541, Pg. 112, Harris County Deed Records (H.C.D.R), of the Official Public Records of Real Property of Harris County (O.P.R.O.R.P.H.C.), according to City of Houston approved field notes.
Parcel AY17-202 contains 0.0072 acre or 312 square feet of land situated in the A.C. Reynolds Survey, Abstract No. 61, Harris County, Texas, being out of and a part of Lot 1, Block 12 of Windermere, a subdivision. Being the same tract conveyed to William Marsh Rice University, in a deed dated January 22, 2003 and recorded under Harris County Clerk’s File Number (H.C.C.F. No.) W390926, Film Code No. 562-33-1042 of the Official Public Records of Real Property of Harris County (O.P.R.O.R.P.H.C.), according to City of Houston approved field notes.
Parcel AY17-203 contains 0.0072 acre or 315 square feet of land situated in the P.W. Rose Survey, Abstract No. 645, Harris County, Texas, being out of and a part of a residue of a called 94.98 acre tract conveyed to William M. Rice Institute, as described in a deed dated May 4, 1909 and recorded under Vol. 230, Pg. 582, Harris County Deed (H.C.D.R.), of the Official Public Records of Real Property of Harris County (O.P.R.O.R.P.H.C.), according to City of Houston approved field notes.
______________________________
Carol Ellinger Haddock, P.E., Director
Houston Public Works
WBS No(s).
N-100004-0001-2