SUBJECT: Ordinance authorizing the sale of a 2,356 square-foot parcel of fee-owned land, located west of the intersection of Maud Street and Sabine Street and south of Interstate Highway 10, out of the John Austin Survey, A-1. Parcel SY22-034
RECOMMENDATION: It is recommended City Council approve an ordinance authorizing the sale of a 2,356 square-foot parcel of fee-owned land, located west of the intersection of Maud Street and Sabine Street and south of Interstate Highway 10, out of the John Austin Survey, A-1, in exchange to the City for a cash consideration of $141,360.00. Parcel SY22-034
SPECIFIC EXPLANATION: Preston Cunningham, of Cunningham Ventures, LLC, on behalf of John Cangelosi, Owner and President of Sagis Ventures, LLC requested the sale of a 2,356 square-foot parcel of fee-owned land, located west of the intersection of Maud Street and Sabine Street and south of Interstate Highway 10, out of the John Austin Survey, A-1. The applicant plans to incorporate the requested property into its abutting property for parking and restoration of the area. The Joint Referral Committee reviewed and approved the request. Sagis Ventures, LLC, has completed the transaction requirements, has accepted the City's offer, and has rendered payment in full.
The City will sell to Sagis Ventures, LLC.:
Parcel SY22-034
2,356 square feet of fee-owned property $141,360.00
Valued at $60.00 per square-foot at 100%
TOTAL SALE $141,360.00
Therefore, it is recommended that City Council approve an ordinance authorizing the sale of a 2,356 square-foot parcel of fee-owned land, located west of the intersection of Maud Street and Sabine Street and south of Interstate Highway 10, out of the John Austin Survey, A-1, in exchange to the City for a cash consideration of $141,360.00.
Fiscal Note: Revenue for this item is included in the FY2023 adopted budget. Therefore, no Fiscal Note is required as stated in Financial Policies.
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Carol Ellinger Haddock, P.E., Director
Houston Public Works