SUBJECT: PROPERTY: Recommendation that an ordinance be passed approving the Purchase and Sale Agreement between C.G. Reserve 164, Inc., and the City of Houston, and authorizing payment of the purchase price for the acquisition of Parcels AY17-136 located along the West Line of the Fort Bend County Toll Road, South of Fondren Road, Missouri City, TX 77489 and Parcel AY19-200 located at the Southeast corner of Fondren Drive and the Fort Bend County Toll Road Missouri City, TX 77489 for the HILLCROFT AVENUE AND COURT ROAD EXTENSION PROJECT.
RECOMMENDATION: (Summary) An ordinance be passed approving the Purchase and Sale Agreement between C.G. Reserve 164, Inc., and the City of Houston, and authorizing payment of the purchase price for the acquisition of Parcels AY17-136 and AY19-200.
SPECIFIC EXPLANATION:
The Hillcroft Avenue and Court Road Extension Project provides for the construction of northbound and southbound frontage road ramps along the Fort Bend Parkway and the extension of Court Road from Quailynn Road east to the proposed southbound frontage road. It also provides for the extension of water lines and storm drainage systems along each roadway corridor as well as bridges spanning the Fort Bend County Drainage District Ditch. These improvements will upgrade existing roadway to Major Thoroughfare and Freeway Plan (M.T.F.P.) standards and will provide for increased mobility, storm water detention, traffic circulation, drainage and safety in the service area.
The City will acquire 76,587 square feet of land in fee on Parcel AY17-136, and 28,020 square feet of land in fee on Parcel AY19-200. The City’s offer was based on an appraisal by Michael J. Urban, MAI, SRA. The breakdown of the purchase amount is as follows:
Parcel AY17-136 (Fee)
LAND
76, 587 Square feet @ $1.50 PSF X 100%...……………………………………………$ 114,881.00(R)
Parcel AY19-200 (Fee)
LAND
28,020 Square feet @ $2.50 PSF X 100%...…………………………………………….$ 70,050.00
Improvements...……………………………………………………………………...……...$ 3,769.00
Cost to Cure...……………………………………………………………………...………..$ 1,296.00
TOTAL CONSIDERATION FOR PARCEL AY19-200...…………………......…………..$ 75,115.00
TOTAL CONSIDERATION FOR PARCELS AY17-136 and AY19-200.........................$189,996.00
Title Policy and Services...………………………………………………………………….$ 2,800.00
TOTAL AMOUNT...……………………………………………………………………….....$ 192,796.00
It is recommended that an ordinance be passed approving the Purchase and Sale Agreement between C.G. Reserve 164, Inc., and the City of Houston and authority be given through Council Motion to PURCHASE the land and improvements thereon for Parcels AY17-136 located along the West Line of the Fort Bend County Toll Road, South of Fondren Road and Parcel AY19-200 located at the Southeast corner of Fondren Drive and the Fort Bend County Toll Road, Missouri City, TX 77489, owned by C.G. Reserve 164, Inc.
Parcel AY17-136 contains a 1.758 of acre (76,587 square feet) tract of land situated in the John Lafayette Survey, Abstract 280, Fort Bend County, Texas, being out of the Westerly part of a residue of called 38.8642 acre tract of land conveyed to Kevaland Texas Corporation by deed filed under Clerk's File Number 9352131 of the Official Public Records of Fort Bend County, Texas, executed August 09, 1993, also being partly out of Lots 3, 4, 65, 66, 72, 140 and 141 of the Silas Welch subdivision according to the map or plat thereof recorded in Volume 01, Page 04 of the Plat of Records of Fort Bend County, Texas, according to City of Houston approved field notes.
Parcel AY19-200 contains a 0.6433 of one acre (28,020 square feet) tract of land situated in the John Lafayette Survey, Abstract 280, Fort Bend County, Texas, being out of the Easterly part of a residue of called 38.8642 acre tract of land conveyed to CG Reserve 164, Inc, by deed filed under Clerk's File Number 9352131 of the Official Public Records of Fort Bend County, Texas, executed August 09, 1993, according to City of Houston approved field notes.
FISCAL NOTE: No significant Fiscal Operating impact is anticipated as a result of this project.
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Carol Ellinger Haddock, P.E., Director
Houston Public Works
WBS N-000821-0002-2