ORDINANCE finding and determining that public convenience and necessity no longer require the continued use of a 6-foot-wide utility easement and a 6-foot-wide prescriptive utility easement, both situated in the Obedience Smith Survey, Abstract No. 696, and being out of and a part of Unrestricted Reserve ‘A,’ Block 1 of Hotel Saint Augustine, Harris County Texas; abandoning said street easement to LORETTO PROJECT, LLC, the abutting property owner, in consideration of its payment to the City in the amount of $103,615.00, and other good and valuable consideration - DISTRICT C - KAMIN

SUBJECT:  Ordinance authorizing the abandonment and sale of a 6-foot-wide utility easement and a 6-foot-wide prescriptive utility easement being out of and a part of unrestricted Reserve 'A', Block 1 of Hotel Saint Augustine, situated in the Obedience Smith Survey, A-696.

Parcels SY22-006A and SY22-006B

RECOMMENDATION:  It is recommended City Council approve an Ordinance authorizing the abandonment and sale of a 6-foot-wide utility easement and a 6-foot-wide prescriptive utility easement being out of and a part of unrestricted Reserve 'A', Block 1 of Hotel Saint Augustine, situated in the Obedience Smith Survey, A-696, in exchange for a cash consideration of $103,615.00.

 Parcels SY22-006A and SY22-006B

SPECIFIC EXPLANATION:  Simon Rucker, of Walter P. Moore, 1301 McKinney Street, Suite 1100, Houston, TX 77002, on behalf of Greg Marchbanks with Loretto Project, LLC., 221 W 6th Street, Suite 2000, Austin, TX 78701 requested the abandonment and sale of a 6-foot-wide utility easement and a 6-foot-wide prescriptive utility easement being out of and a part of unrestricted Reserve 'A', Block 1 of Hotel Saint Augustine, situated in the Obedience Smith Survey, A-696. The applicant plans to construct a new hotel and parking lot over the requested utility easements to be abandoned. Loretto Project, LLC has completed the transaction requirements, has accepted the City's offer, and has rendered payment in full. 

The City will abandon and sell to Loretto Project, LLC.:

Parcel SY22-006A

1,040 square-feet of utility easement                                                $ 59,800.00

Valued at $115.00 per square foot x 50%

Parcel SY22-006B

762 square-feet of prescriptive utility easement                                $ 43,815.00

Valued at $115.00 per square foot x 50%

Total abandonment and sale:                                                      $103,615.00

Therefore, it is recommended City Council approve an ordinance authorizing the abandonment and sale of a 6-foot-wide utility easement and a 6-foot-wide prescriptive utility easement being out of and a part of unrestricted Reserve 'A', Block 1 of Hotel Saint Augustine, situated in the Obedience Smith Survey, A-696, in exchange for a cash consideration of $103,615.00.

Fiscal Note:

Revenue for this item is included in the FY2025 Adopted Budget. Therefore, no Fiscal Note is required as stated in the Financial Policies.

__________________________

Randall V. Macchi

Chief Operating Officer

Houston Public Works

REVENUE

Fund 1000

General Fund