SUBJECT: PROPERTY: Recommendation that an ordinance be passed approving the Purchase and Sale Agreement between Cuiling Chen and the City of Houston, and authorizing payment of the purchase price for the acquisition of Parcel JY22-001 located at 6915 South Gessner Road for the NEW/REPLACEMENT GROUND WATER WELL – SHARPSTOWN 2 WELL 5 PROJECT.
RECOMMENDATION: (Summary) An ordinance be passed approving the Purchase and Sale Agreement between Cuiling Chen and the City of Houston, and authorizing payment of the purchase price for the acquisition of Parcel JY22-001.
SPECIFIC EXPLANATION:
The NEW/REPLACEMENT GROUND WATER WELL – SHARPSTOWN 2 WELL 5 PROJECT is part of a program that provides assessment, evaluation and installation of ground water wells to increase or maintain water production capacity. This program is necessary in order to provide reliability of the water system.
The City will acquire 0.2268 acre (9,880 square feet) in fee on Parcel JY22-001. The City’s offer was based on an appraisal by Jason M. Mushinski, MAI. The valuation was reviewed and recommended for approval by a senior staff appraiser of this department. The parties now wish to enter into a Purchase and Sale Agreement, the terms of which include the following:
Parcel JY22-001 (Fee)
(1) 9880 (Unencumbered) SF @ $12.00 PSF x 100%..................................$ 118,560.00
(2) Improvements..............................................................................................$ 293,740.00 (R)
TOTAL CONSIDERATION.............................................................................$ 412,300.00 (R)
Title Policy and Service.....................................................................................$ 5,000.00
TOTAL AMOUNT...........................................................................................$ 417,300.00 (R)
Parcel JY22-001 contains 0.2268 acre (9,880 square feet) of land being all of Lot 14, Block 6, Sharpstown Country Club Terrace Section Two, as recorded in Volume 69, Page 53 of the Harris County Map Records (H.C.M.R.) and being all of a certain tract of land conveyed to Cuiling Chen, as recorded in File No. RP-2016-562684 of the Official Public Records of Real Property of Harris County (O.P.R.R.P.H.C.), situated in the J. Swisher Survey, Abstract No. 1110, City of Houston, Harris County, Texas, 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
S-000100-0029-2