RECOMMENDATION: Adopt an ordinance to declare Parcel RP77-001 and Parcel P99-002 as surplus to the needs of the City and approve and authorize a Marketing Agreement between the City of Houston, TX, and Womack Development and Investment Realtors, Inc., to assist with the marketing and sale of the referenced parcels located at:
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Parcel Number
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Address
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District
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RP77-001
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7131 Cullen Boulevard, Houston, TX 77021
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D
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P99-002
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8418 & 8422 Jensen Boulevard, Houston, TX 77093
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H
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SPECIFIC EXPLANATION: The City owns Parcel RP77-001 which consists of approximately 0.64-acre of land located at 7131 Cullen Boulevard, just north of Holmes Road at the southeast corner of Cullen Boulevard and Swanson Boulevard.
The City also owns Parcel P99-002 which consists of approximately 1.2485-acres of land located at 8418 & 8422 Jensen Boulevard, just north of East Crosstimbers Street.
Section 253.014 of the Texas Local Government Code provides the City the option to contract with a broker to sell City-owned property. It was determined that listing the properties with a broker who will actively market the properties to developers, investors, builders, and end users may yield an earlier, higher return to the City as opposed to a sealed bid sale.
Therefore, the General Services Department recommends that City Council declare the parcels as surplus, and authorize a Marketing Agreement between the City of Houston, TX, and Womack Development and Investment Realtors, Inc., to assist with the marketing of the referenced parcels.
SCOPE OF CONTRACT AND FEE: The proposed Real Estate Marketing Agreement will commence on the date of countersignature by the City Controller and terminate at the earlier of (a) 11:59 pm on the 365th day, or (b) upon closing and funding of the City’s sale of the property. Under the terms of the Agreement, Womack Development and Investment Realtors, Inc., will perform the following tasks: (1) gather relevant information and develop marketing material; (2) list or advertise the property in appropriate publications, websites, etc.; (3) install agreed-upon signage on the property; (4) identify and target qualified prospects; (5) respond to information requests concerning the property; (6) assist with the City’s sale process; and (7) provide periodic progress reports to the City.
The City will pay a one-time fee of 3% of the sales price of the property, or 4% if the purchaser is represented by another broker other than Womack Development and Investment Realtors, Inc. The sale of the property will be conducted in accordance with all applicable state and city laws and will require final approval by City Council.
The Office of Business Opportunity reviewed the Real Estate Marketing Agreement and determined the level of MWSBE availability would produce minimal MWSBE participation. Therefore, the Office of Business Opportunity has approved a 0% MWSBE goal.
FISCAL NOTE:
There is no impact to the fiscal budget or no additional spending authority. Therefore, no Fiscal Note is required as stated in the Financial Policies.
DIRECTOR’S SIGNATURE/DATE:
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C. J. Messiah, Jr.
General Services Department
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Stephen Williams, M.Ed., M.P.A.
Houston Health Department